Carsome achieved full-year profitability in 2024

Malaysian used-car platform Carsome announced its first full year of profitability in 2024, reporting an adjusted EBITDA of US$10.5 million.

The financial performance was supported by a 25% year-on-year increase in gross profit per unit.

This growth was attributed to higher margins on vehicle sales, increased revenue from platform services, and reductions in refurbishment and logistics costs.

Recent Carsome developments

Timeline
13-Sep-2024 📈 Carsome raises $46m as EBITDA grows 3x, revenue rises 9% Carsome’s Q2 revenue up 9% to over $310M EBITDA triples; new RM 200M financing partnerships
08-May-2024 🚗 Carsome hits first EBITDA positive quarter in Q1 2024 Carsome achieves positive EBITDA in Q1 2024 Company eyes IPO after significant growth and management changes
14-Mar-2024 🚗 Carsome appoints ex-Jardine exec to COO post as it eyes IPO Carsome reshuffles leadership ahead of IPO Eric Chan appointed as group president and COO
16-Feb-2024 🚗 Carsome, Carro are lobbying for a ‘golden goose’ but winning it is tricky Carsome and MyTukar vie for Malaysian license Puspakom’s monopoly may face competition soon
08-Nov-2023 🚗 Carsome appoints new group CFO Miguel Fernandez appointed as Carsome’s new CFO Carsome aims for IPO, raised $200M for liquidity
19-Jun-2023 🚗 Carsome boosts liquidity to $200m with latest raise

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Recent Carsome developments

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