100% SUBSCRIPTION REVENUE GROWTH
ASX ANNOUNCEMENT
20 September 2023
100% SUBSCRIPTION REVENUE GROWTH
Carly Holdings Limited (ASX:CL8) (Carly or the Company) is pleased to provide an update on revenue and fleet growth for the months of August and September 2023. Following an 82% increase in subscription revenue in FY23, Carly has continued to deliver strong growth, with record results in August 2023.
Key highlights:
- Average Subscription Revenue in July & August 2023 increased by 100% vs September Quarter 2022 and 11% increase vs June Quarter 2023
- Record results for Total Transaction Value and Subscription Revenue were delivered in August 2023
- Annualised Revenue Run Rate in August 2023 reached $3.0 million increasing from $2.5 million in June 2023
- The size of the owned and financed fleet increased, reaching 257 vehicles in August 2023, an increase of 252% vs September 2022 and a 21% increase vs June 2023
- Total Fleet size reached 363 vehicles in August 2023, an increase of 81% vs September 2022 and 13% increase vs June 2023
- The owned and financed fleet reached 71% of total fleet size and contributed 86% of total subscription revenue
During July and August, Carly continued to draw down on the $10m asset finance facility announced in March 2023, with 45 vehicles being purchased and delivered in the period. Market feedback suggests that availability of asset light vehicles is improving, and Carly expects to receive delivery of new asset light vehicles in the December Quarter 2023. The increasing size of the vehicle fleet is supporting continued revenue growth.
This week, Carly welcomed a Business Development Manager to spearhead the growth of car subscriptions in the corporate, government and not for profit sectors. Carly also expanded into the South Australian market with the first corporate subscription commencing in Adelaide this week.
Authorised by:
Chris Noone
CEO and Director
Carly Holdings Limited
For more information please contact:
Chris Noone
CEO and Director
Carly Holdings Limited
E: shareholder@carly.co
About Carly Holdings Limited
Carly Holdings Limited (ASX:CL8) investors.carly.co/ is listed on the Australian Securities Exchange. It is Australia’s leading listed company focused on providing innovative mobility solutions for consumers and the automotive industry. Carly Holdings operates www.Carly.co, Australia’s first flexible car subscription service.