bullish
Carly Holdings - Fleet size up, sales up, costs up less
SUMMARY
- RaaS has published an update on vehicle subscription business Carly Holdings (ASX:CL8) following the release of its FY24 results which saw a 71% year-on-year increase in revenue to $3.6m, a 40% increase in gross profit to $1.15m and 22% increase in EBITDA loss to $3.57m.
- Carly’s FY24 accounts underline the company’s success in growing fleet and subscriptions but highlights the drag which deploying vehicles as they are acquired necessarily has on the cost base.
- Revenue was again up strongly but so were fleet-related costs, albeit at only slightly over half as much.
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