Karooooo, the parent company of Cartrack, announced strong financial results for its second quarter ended August 31, 2025, highlighting a significant acceleration in its subscription revenue growth.
The company reported that its subscription revenue growth increased from 15% in the same quarter last year to 20% this quarter. Cartrack, its primary subsidiary, saw quarterly subscription revenue hit a record R1,1 billion.
“Our subscription revenue growth increased from 15% in full year 2025 quarter two2 to 20% in this quarter,” said Zak Calisto, CEO and Founder of Karooooo.
“We believe that our strong unit economics coupled with a clean balance sheet positions us favourably to continue to scale.”
Key Financial Highlights for Q2 2026:
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Subscriber Base: Grew 15% to 2.5 million.
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Cartrack ARR: Annualized recurring revenue increased 20% to R4,8 bllion.
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Earnings Per Share: Adjusted EPS rose 13% year-over-year to R8.28.
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Logistics Growth: Karooooo Logistics revenue surged 38% to R139 million, driven by e-commerce.
The company emphasized that its profitable business model and strong cash position, with R393 million in net cash, provide a solid foundation for future expansion.
Karooooo expects continued robust results from its ongoing investments in AI and platform innovation.
