Table of Contents
Key Points
- Karooooo's Q1 revenue rose 18% to $72.7 million, led by strong subscription growth from its flagship platform Cartrack.
- Cartrack’s subscriber base grew 17% to 2.38 million, driving SaaS recurring revenue to $254 million and affirming global platform adoption.
- Southeast Asia became Karooooo’s fastest-growing region, recording a 30% surge in Cartrack subscription revenue in the first quarter.
Karooooo Limited, the Singapore-based mobility platform led by South Africa’s newest billionaire Zak Calisto, delivered solid results for the first quarter ended July 22, 2025, underscoring its momentum in operations management and SaaS-driven fleet telematics.
According to its recently released Q1 2026 report, total revenue climbed 18.02 percent year-on-year to R1.28 billion ($72.7 million), up from R1.08 billion ($61.6 million), fueled by sustained growth in both subscription and logistics segments. Subscription revenue—the company’s primary income stream—rose 18.55 percent to R1.14 billion ($64.82 million), driven largely by Cartrack, which continues to dominate the group’s subscriber base.
Cartrack powers growth, Calisto bullish on long-term strategy
Cartrack’s subscription revenue rose 18.5 percent to R1.14 billion ($64.81 million), while its subscriber base grew 17 percent to over 2.38 million. SaaS annualized recurring revenue climbed 18.3 percent to R4.57 billion ($254 million) as the group scaled its global platform. Karooooo Logistics, the group’s delivery-as-a-service arm, saw revenue jump 19.8 percent to R121 million ($6.89 million), reflecting strong momentum in B2B last-mile logistics.
Karooooo CEO Zak Calisto said the group is off to a strong fiscal year 2026 start, driven by accelerating Cartrack subscription growth across regions. “Our broad footprint continues to deliver, and we are well positioned for sustained organic growth,” he said.
Southeast Asia—Karooooo’s fastest-growing region—posted a 30 percent subscription revenue surge in Q1. With a strong balance sheet and healthy cash flows, Karooooo reaffirmed its full year (FY) 2026 outlook: Cartrack subscription revenue is projected between R4.7 billion ($267.79 million) and R4.9 billion ($279.18 million), while EPS is expected to land between R32.50 ($1.85) and R35.50 ($2.02).
Karooooo’s profitable model shines under Calisto
Founded by Zak Calisto in 2001 to focus on stolen vehicle recovery in South Africa, Karooooo now manages Cartrack, its wholly owned subsidiary, offering real-time mobility data analytics for intelligent transportation.
Under Calisto’s leadership, the company has grown into a global leader in transportation management and analytics, serving customers in 23 countries across five continents and supporting over 2.6 million users as of its latest report.
Assets and retained earnings surge
Karooooo’s strong performance drove a 17.26 percent rise in total assets—from R4.57 billion ($260.52 million) to R5.35 billion ($305.14 million)—as of May 31, 2025. Retained earnings also climbed 17.34 percent, from R2.03 billion ($115.44 million) to R2.38 billion ($135.46 million).
With a proven model, competitive advantages, and solid financials, Karooooo remains confident in sustaining growth and generating strong cash flows. Its FY 2026 performance reinforces its position as a key player in global intelligent transportation analytics.
