employee mistreatment<\/a>, also recorded 142,472 net subscriber additions during the quarter, a 70% increase. <\/p>\n\n\n\nThis works out to roughly 1,584 net customers per day or 47,490 net customers per month across its operations in over 20 markets. <\/p>\n\n\n\n
Karoooo Logistics’ total revenue also rose by 46% to R177 million (Q1 2026: ZAR121 million), driven by demand for Q-commerce orders, a type of e-commerce focused on ultra-fast delivery. <\/p>\n\n\n\n
Overall, the group’s operating profit increased 16% to R410 million (Q1 2026: ZAR352 million), with earnings per share rising 11% to R9.53 (Q1 2026: R8.55).<\/p>\n\n\n\n
The group, which was founded in South Africa and is headquartered in Singapore, has a dual listing on the JSE and Nasdaq, and currently has a market capitalisation of just under R30 billion ($1.81 billion).<\/p>\n\n\n\n
“Our focus remains to accelerate growth by growing sales and marketing at a moderate pace while optimising the strong investment we made in sales capacity during FY2026,” said CEO Zak Calisto. Karooooo Financials<\/strong><\/td>Q1 2026<\/strong><\/td>Q1 Current<\/strong><\/td>Change<\/strong><\/td><\/tr><\/thead>Cartrack Subscribers<\/td> 2,386,249<\/td> 2,804,694<\/td> +18%<\/td><\/tr> Net Cartrack Subscriber Additions<\/td> 84,013<\/td> 142,472<\/td> +70%<\/td><\/tr> Karooooo Subscription Revenue<\/td> ZAR 1,141 million<\/td> ZAR 1,354 million<\/td> +19%<\/td><\/tr> Cartrack Subscription Revenue<\/td> ZAR 1,138 million<\/td> ZAR 1,351 million<\/td> +19%<\/td><\/tr> Cartrack Annualised Recurring Revenue (ARR)<\/td> ZAR 4,574 million<\/td> ZAR 5,432 million<\/td> +19%<\/td><\/tr> Karooooo Logistics B2B DaaS Revenue<\/td> ZAR 121 million<\/td> ZAR 177 million<\/td> +46%<\/td><\/tr> Karooooo Operating Profit<\/td> ZAR 352 million<\/td> ZAR 410 million<\/td> +16%<\/td><\/tr> Cartrack Operating Profit<\/td> ZAR 342 million<\/td> ZAR 395 million<\/td> +16%<\/td><\/tr> Cartrack Operating Profit Margin<\/td> 30%<\/td> 28%<\/td> -2% pts<\/td><\/tr> Karooooo Adjusted Earnings Per Share (EPS)<\/td> ZAR 8.55<\/td> ZAR 9.53<\/td> +11%<\/td><\/tr><\/tbody><\/table><\/div><\/figure>\n\n\n\nOutlook<\/h2>\n\n\n\n The group said that it operates in an expanding and largely underpenetrated market, fueled by robust and sustained customer demand.<\/p>\n\n\n\n
“This demand is driven by a heightened focus on digitalisation, the need to improve operational efficiency and reduce costs, and increasing attention to safety in physical operations,” it said. <\/p>\n\n\n\n
“Our easy-to-use, operational intelligence platform empowers our customers to improve operational efficiencies, reduce risk and enhance the safety of their physical operations.”<\/p>\n\n\n\n
It added that it hopes to drive growth by balancing subscriber growth with the increased adoption of Video and Cartrack-Tag. <\/p>\n\n\n\n
It also hopes to realise other efficiencies in the business via the use of its scale and AI, which it said would support strong EPS growth. <\/p>\n\n\n\n
While the group has lowered its gross profit margin outlook for the coming year, assuming current exchange rates and accelerated growth plans, the midpoint of its EPS outlook still stands at 21% growth. <\/p>\n\n\n\n
The group’s guidance for the coming year sees the following: <\/p>\n\n\n\n
\nCartrack\u2019s subscription revenue is between R5,700 million and R6,000 million, implying subscription revenue growth between 18% and 24%;<\/li>\n\n\n\n Cartrack\u2019s gross profit margin is between 70% and 72%;<\/li>\n\n\n\n Cartrack\u2019s operating profit margin is between 27% and 30%, and<\/li>\n\n\n\n Karooooo\u2019s Earnings Per Share between R38.50 and R40.00, implying growth between 18% and 23%. <\/li>\n<\/ul>\n\n\n\nThe group also envisages a slowdown in hiring in FY 2027 while continuing to drive sales force efficiency. <\/p>\n","protected":false},"excerpt":{"rendered":"
Cartrack-owner Karooooo continues to see strong growth in revenue and profit, adding over 140,000 net subscribers in a single quarter.<\/p>\n","protected":false},"author":95,"featured_media":824188,"comment_status":"open","ping_status":"closed","sticky":true,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"posted","_sma_x_autopost_error":"","_sma_x_post_id":"2077659256099098914","_sma_x_attempts":1,"footnotes":""},"categories":[11119],"tags":[9150,22558],"class_list":["post-866444","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-motoring","tag-cartrack","tag-karooooo"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/866444","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/95"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=866444"}],"version-history":[{"count":6,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/866444\/revisions"}],"predecessor-version":[{"id":866465,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/866444\/revisions\/866465"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/824188"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=866444"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=866444"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=866444"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}