Company: KARO
Filing Date: 2025-06-09
Form Type: 20-F
Source: 0001213900-25-052372
Chunk: 85

Company: Karooooo Ltd.
Filing Date: 2025-06-09
Form: 20-F
Item: Item 4A
Chunk 85
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Item 4A. UNRESOLVED STAFF COMMENTS

Not applicable.

Item 5. OPERATING AND FINANCIAL REVIEW
AND PROSPECTS

  OPERATING RESULTS  

MANAGEMENT’ S DISCUSSION AND
ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following discussion of our
financial condition and results of operations should be read in conjunction with our consolidated annual financial statements and the
notes thereto, included elsewhere in this annual report, as well as the information presented under “ Presentation of Financial Information.”
The following discussion and analysis include forward-looking statements. These forward-looking statements are subject to risks, uncertainties
and other factors that could cause our actual results to differ materially from those expressed or implied by the forward-looking statements.
Factors that could cause or contribute to these differences include, but are not limited to, those discussed elsewhere in this annual
report. See “ Special Note Regarding Forward-Looking Statements” and “ Risk Factors.”

Overview

We are a leading provider of
an operations management SaaS platform. Through our cloud platform, we empower businesses to conquer operations including fleet maintenance,
fuel management and asset utilization, workforce management, logistics, safety, compliance, risk and environmental impact. Our differentiated
insights and analytics simplify day-to-day operations and enable businesses to decrease costs, increase efficiency, improve safety and
strengthen workforce and customer satisfaction. Our business is vertically integrated, which affords us complete autonomy to develop the
capabilities and features that differentiate our applications as well as the speed of our innovation. Since we own and control almost
every aspect of our smart device design, platform innovation and software application development, customer acquisition and onboarding,
customer service and the management of our back-end support, we are able to move quickly without any significant third-party dependencies
and inefficiencies. We have strategically grown our business and are now a global provider of a leading operations management SaaS platform.

Karooooo is headquartered in Singapore and owns 100% of
Cartrack and 74.8 % of Karooooo Logistics.

We serve customers in more than
20 countries, supporting more than 2.3 million subscribers as at February 28, 2025 and our highly scalable platform serves large multinational
enterprises and individual consumers alike, enabling us to address a large, growing and underpenetrated global market. As at February
28, 2025, we served more than 125,000 commercial customers (FY2024: 121,000+).

For management