Company: KARO
Filing Date: 2025-06-09
Form Type: 20-F
Source: 0001213900-25-052372
Chunk: 104

Company: Karooooo Ltd.
Filing Date: 2025-06-09
Form: 20-F
Item: Item 4A
Chunk 104
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TV of our customer
relationships as of a measurement date by dividing (i) the product of our subscription revenue gross margin measured over the past twelve
months, and the difference between our current period SaaS ARR (a non-IFRS measure) and prior comparative period (twelve months) SaaS
ARR by (ii) the percentage of SaaS ARR lost as a result of customer churn over the past twelve months. See “ Key Business Metrics - Annualized
Recurring Revenue (“ SaaS ARR”) (a non-IFRS measure).” We calculate our CAC as our annual sales and marketing expense
measured over the past twelve months.

General and Administration

                                  Year ended February 28/29                                                                                        
                                  2025                                        2025                                2024                    Y-o-Y %  
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
                                  (U. S.$                                                                                                          
                                  thousands (1))                              (in R thousands)                                                     
  General and administration                                     (50,794                            (944,833                (837,606               

  (1)      For convenience purposes only, amounts in South African rand as at February 28,                                                                

Karooooo’s general and
administration operating expenses increased by 13% to ZAR 944.8 million for the financial year ended February 28, 2025 from ZAR 837.6
million for the financial year ended February 29, 2024. The increase of ZAR 107.0 million was primarily driven by increases in Cartrack’s
general and administration operating expenses by 15% to ZAR 862.6 million as a result of our investment in infrastructure to support our
growth. Karooooo Logistics’ general and administration operating expenses were ZAR 82.2 million incurred for the financial year
ended February 28, 2025, compared to ZAR 58.4 million incurred for the financial year ended February 29, 2024. Carzuka’s general
and administration operating expenses were ZAR 27.6 million for the financial year ended February 29, 2024.

Research and Development

                                Year ended February 28/29                                                                                        
                                2025                                        2025                                2024                    Y-o-Y %  
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
                                (U. S.$                                                                                                          
                                thousands