Karooooo CEO Zak Calisto
Karooooo said its Cartrack subscribers increased by 18% to 2,8 million for the three months ended May 31, according to a first-quarter update on Thursday.
Net Cartrack subscriber additions accelerated by 70%, reaching a record of 142,472 from 84,013 in the first quarter of 2025.
Karooooo's subscription revenue accelerated by 19%, reaching R1,35 billion. Cartrack's annualised recurring revenue (ARR) growth accelerated to 19%, reaching R5,43bn.
"The 2027 financial year is off to a strong start, with record net subscriber additions and healthy retention driving 21% Cartrack constant currency subscription revenue growth. We believe we are on track to accelerate subscription revenue growth as we realise the benefits of our recent investments in sales capacity,” said CEO and founder Zak Calisto in a statement.
