Latest news with #KaroooooLtd
Business Insider
23-05-2025
- Business
- Business Insider
Africa welcomes new dollar billionaire from the world of car tracking technology
Africa has welcomed a new addition to its exclusive circle of dollar billionaires, bringing the continent's total to 23. Zak Calisto, founder and CEO of Karooooo Ltd., has become Africa's 23rd dollar billionaire. Calisto owns about two-thirds of Karooooo Ltd., which recently reported strong subscription revenue growth. As of March 2025, Africa boasts a combined billionaire wealth exceeding $105 billion, a record high. Zak Calisto, founder and CEO of Karooooo Ltd, a vehicle tracking and fleet management services firm, has joined Africa's exclusive circle of dollar billionaires. Karooooo Ltd., which began as Cartrack, has experienced significant growth after expanding its offerings to include AI-powered driver monitoring and fleet management services. This strategic shift has propelled Zak Calisto into the ranks of dollar billionaires. According to Bloomberg, Zak Calisto, the Portugal-born founder of Karooooo Ltd. (formerly Cartrack), owns approximately two-thirds of the company. The company's stock surged after reporting double-digit subscription revenue growth and a 25% increase in earnings per share for the year through February 2025. Calisto's journey from a local entrepreneur to a global billionaire showcases Africa's growing influence in the digital economy. His company, which moved its headquarters to Singapore in 2020, sees Asia as crucial to its future expansion plans. With a customer base of 2.3 million, mostly in South Africa, Karooooo Ltd. plans to prioritize organic growth but remains open to strategic acquisitions. " There's significant potential for even faster growth," Calisto said in an interview. Africa's billionaire count As of March 2025, Africa had 22 billionaires on its Forbes list, with fortunes spanning sectors such as manufacturing, retail, petroleum, real estate, and fashion. For the first time ever, the combined wealth of these African billionaires surpassed $100 billion, reaching a record $105 billion, up from $82.4 billion in the previous year when the continent had 20 billionaires. South Africa has consistently maintained a strong hold on the list, contributing the highest number of billionaires. In the 2025 ranking, South Africa accounted for seven billionaires, followed by Nigeria and Egypt with four each. The list also includes three billionaires from Morocco, one from Algeria (Issad Rebrab), one from Tanzania (Mohammed Dewji), and one from Zimbabwe (Strive Masiyiwa).
Yahoo
16-05-2025
- Business
- Yahoo
Karooooo Ltd (KARO) Q4 2025 Earnings Call Highlights: Strong Revenue Growth and Strategic ...
Release Date: May 15, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Karooooo Ltd (NASDAQ:KARO) reported a 15% increase in subscription revenue for FY25, with a 19% increase on a US dollar basis. Cartrack's operating profit margin was a robust 34%, showcasing strong financial performance. Karooooo Ltd (NASDAQ:KARO) achieved a 17% increase in total subscribers, with notable growth in South Africa and Europe. The company maintained a high commercial retention rate of 95%, indicating strong customer loyalty. Karooooo Ltd (NASDAQ:KARO) ended FY25 with a strong balance sheet, holding net cash and cash equivalents of 838 million ZAR. Karooooo Ltd (NASDAQ:KARO) anticipates lower earnings per share growth in FY26 due to planned upfront investments in sales and marketing. The company experienced a decline in quarterly adjusted free cash flow due to deliberate investments to support growth. Net subscriber additions in FY25 were slightly down compared to FY24 levels, indicating potential challenges in market expansion. Karooooo Ltd (NASDAQ:KARO) faces challenges with low liquidity, impacting the effectiveness of share buybacks. The company expects a temporary dip in sales productivity as new hires in Asia mature over the first six months. Warning! GuruFocus has detected 7 Warning Signs with KARO. Q: Can you discuss the launch and reception of the Cartrack tag and its potential for adoption within your core subscription base? A: Zach Callisto, Founder and Group CEO: We've successfully launched the Cartrack tag in Southern Africa, from Cape Town to Kenya. It's been well-received by both businesses and consumers, and we are achieving substantial scale. We are considering expanding this to Asia next. Q: What are the key drivers for growth in 2026, particularly regarding subscriber count and product upsell? A: Zach Callisto, Founder and Group CEO: In FY26, our focus will be on enhancing the customer offering with the Cartrack tag and video solutions, aiming for a 10% increase in ARPU by year-end. We will concentrate on sales to existing customers to drive growth. Q: How are you planning to expand your sales capacity, and what is the current status of your salesforce? A: Zach Callisto, Founder and Group CEO: We have over 5,000 employees and plan to increase our staff by about 1,500 this year. We saw good traction in the last six months and expect continued growth in FY26, particularly in Asia, where we plan to increase our salesforce by 70%. Q: What is your outlook for regional growth, particularly in South Africa, Europe, and Southeast Asia? A: Zach Callisto, Founder and Group CEO: All regions offer significant growth opportunities. Asia presents the largest market with the highest growth potential, but we expect good growth across all regions in FY26. Q: With a net cash balance of about 840 million, what are your plans regarding dividends and share buybacks? A: Zach Callisto, Founder and Group CEO: We focus on capital allocation for shareholder returns. If we cannot efficiently invest in growth, we will consider returning excess cash to shareholders, typically deciding on dividends in Q2. Share buybacks are challenging due to low liquidity, so we focus on other priorities. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
16-05-2025
- Business
- Yahoo
Karooooo Ltd (KARO) Q4 2025 Earnings Call Highlights: Strong Revenue Growth and Strategic ...
Release Date: May 15, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Karooooo Ltd (NASDAQ:KARO) reported a 15% increase in subscription revenue for FY25, with a 19% increase on a US dollar basis. Cartrack's operating profit margin was a robust 34%, showcasing strong financial performance. Karooooo Ltd (NASDAQ:KARO) achieved a 17% increase in total subscribers, with notable growth in South Africa and Europe. The company maintained a high commercial retention rate of 95%, indicating strong customer loyalty. Karooooo Ltd (NASDAQ:KARO) ended FY25 with a strong balance sheet, holding net cash and cash equivalents of 838 million ZAR. Karooooo Ltd (NASDAQ:KARO) anticipates lower earnings per share growth in FY26 due to planned upfront investments in sales and marketing. The company experienced a decline in quarterly adjusted free cash flow due to deliberate investments to support growth. Net subscriber additions in FY25 were slightly down compared to FY24 levels, indicating potential challenges in market expansion. Karooooo Ltd (NASDAQ:KARO) faces challenges with low liquidity, impacting the effectiveness of share buybacks. The company expects a temporary dip in sales productivity as new hires in Asia mature over the first six months. Warning! GuruFocus has detected 7 Warning Signs with KARO. Q: Can you discuss the launch and reception of the Cartrack tag and its potential for adoption within your core subscription base? A: Zach Callisto, Founder and Group CEO: We've successfully launched the Cartrack tag in Southern Africa, from Cape Town to Kenya. It's been well-received by both businesses and consumers, and we are achieving substantial scale. We are considering expanding this to Asia next. Q: What are the key drivers for growth in 2026, particularly regarding subscriber count and product upsell? A: Zach Callisto, Founder and Group CEO: In FY26, our focus will be on enhancing the customer offering with the Cartrack tag and video solutions, aiming for a 10% increase in ARPU by year-end. We will concentrate on sales to existing customers to drive growth. Q: How are you planning to expand your sales capacity, and what is the current status of your salesforce? A: Zach Callisto, Founder and Group CEO: We have over 5,000 employees and plan to increase our staff by about 1,500 this year. We saw good traction in the last six months and expect continued growth in FY26, particularly in Asia, where we plan to increase our salesforce by 70%. Q: What is your outlook for regional growth, particularly in South Africa, Europe, and Southeast Asia? A: Zach Callisto, Founder and Group CEO: All regions offer significant growth opportunities. Asia presents the largest market with the highest growth potential, but we expect good growth across all regions in FY26. Q: With a net cash balance of about 840 million, what are your plans regarding dividends and share buybacks? A: Zach Callisto, Founder and Group CEO: We focus on capital allocation for shareholder returns. If we cannot efficiently invest in growth, we will consider returning excess cash to shareholders, typically deciding on dividends in Q2. Share buybacks are challenging due to low liquidity, so we focus on other priorities. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Yahoo
15-05-2025
- Business
- Yahoo
Karooooo Ltd. (KARO) Surpasses Q4 Earnings and Revenue Estimates
Karooooo Ltd. (KARO) came out with quarterly earnings of $0.44 per share, beating the Zacks Consensus Estimate of $0.37 per share. This compares to earnings of $0.36 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 18.92%. A quarter ago, it was expected that this company would post earnings of $0.38 per share when it actually produced earnings of $0.43, delivering a surprise of 13.16%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. Karooooo , which belongs to the Zacks Internet - Software industry, posted revenues of $66 million for the quarter ended February 2025, surpassing the Zacks Consensus Estimate by 4.93%. This compares to year-ago revenues of $57.64 million. The company has topped consensus revenue estimates three times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Karooooo shares have lost about 1.3% since the beginning of the year versus the S&P 500's gain of 0.1%. While Karooooo has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Karooooo: mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.38 on $64.77 million in revenues for the coming quarter and $1.72 on $272.15 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Internet - Software is currently in the top 35% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. nCino (NCNO), another stock in the same industry, has yet to report results for the quarter ended April 2025. This company is expected to post quarterly earnings of $0.16 per share in its upcoming report, which represents a year-over-year change of -15.8%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. nCino's revenues are expected to be $139.76 million, up 9.1% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Karooooo Ltd. (KARO) : Free Stock Analysis Report nCino Inc. (NCNO) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
14-05-2025
- Business
- Yahoo
Karooooo Ltd.: Fiscal Q4 Earnings Snapshot
SINGAPORE (AP) — SINGAPORE (AP) — Karooooo Ltd. (KARO) on Wednesday reported profit of $13.6 million in its fiscal fourth quarter. The Singapore-based company said it had profit of 44 cents per share. The company posted revenue of $66 million in the period. For the year, the company reported profit of $50.4 million, or $1.63 per share. Revenue was reported as $250 million. _____ This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on KARO at
