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Director, RaaS Research Group, Research as a Service (RaaS)

Director, RaaS Research Group

Equity Bottom-Up

<ul><li>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.</li><li>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.</li><li>Revenue was again up strongly but so were fleet-related costs, albeit at only slightly over half as much.</li></ul>

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.

Carly Holdings - Fleet size up, sales up, costs up less