Latest news with #Cartrack
IOL News
a day ago
- Business
- IOL News
Karooooo's Cartrack subscription revenue surges as interim dividend rises
Karooooo CEO Zak Calisto Image: Simphiwe Mbokazi/ANA Karooooo reported another set of strong results for the first quarter to May 31 with the number of Cartrack subscribers increasing by 17% while the interim dividend was up by more than 15%. On the JSE Wednesday morning, Karooooo's share price shot up by 5.73% to R920, following the announcement of the results. The share price is up by over 57% over 12 months. The interim dividend of $1.25 per ordinary share was declared versus $1.08 at the same time last year, which was paid due to the strong cash position and good earnings growth, CEO Zak Calisto said in an interview. 'We are pleased to report a strong start to the 2026 financial year highlighted by accelerating Cartrack subscription revenue growth across all regions,' he said. In June, Calisto sold 8% of his shares, but he remains in control with a 58% shareholding and has no intention to change control, he said. 'Every investor presentation I attend, they ask me about liquidity of the shares,' he said. 'We are realizing the benefits of our extensive footprint, and we believe that we remain well positioned to build our customer base,' he added. He said they remained optimistic about further healthy organic growth in all geographies. Southeast Asia presented the largest growth opportunity over the medium-to-long term and was their fastest growing region. Cartrack subscription revenue growth in Southeast Asia accelerated to 30% in the first quarter. Their second fastest growing region was Europe and third fastest South Africa. In South Africa, 'things have picked up, there is good momentum,' and the new head office in Johannesburg was enabling the group to attract good staff. Calisto added the consumer environment had improved and he was optimistic about economic prospects in the country. Karooooo's operating expenses increased 16% to R523m. Cartrack accounted for R497m (Q1 2025: R428m) in operating expenses, including investments in infrastructure and headcount to support territorial expansion and distribution growth. Karooooo Logistics accounted for R26m (R22m) of total operating expenses as investment to scale Karooooo Logistics continued. 'In the 2026 financial year, we aim to accelerate Cartrack subscription revenue growth by further expanding our distribution footprint in existing markets, driving broader platform adoption, and capitalizing on growing demand for video solutions,' said Calisto. Net Cartrack subscriber additions increased 11% to 84 013. Karooooo's subscription revenue increased 18.4% to R1.14bn. Cartrack's subscription revenue increased 18.5% to R1.14bn. Cartrack's SaaS (software-as-a- service) annualized recurring revenue (ARR) increased 18.3% to R4.57bn. Karooooo Logistics's B2B delivery-as-a-service (DaaS) revenue increased 19.8% to R121m. Karooooo's operating profit increased 17% to R352m. Cartrack's operating profit increased 19% to R342m. Karooooo's adjusted earnings per share increased 19% to R8.55. Calisto said that their proven track record of disciplined execution, sustained growth at scale, and highly profitable business model is supported by a solid balance sheet and a healthy cash position. 'We believe our investments in AI, platform innovation and customer experience will drive durable growth and robust results,' he said. Their guidance for the 2026 financial year of earning per share between R32.50 and R35.50, and on other financial metrics, remained unchanged. Karooooo reported cash and its equivalents at R1.1bn at May 31, 2025, up from R838m at February 28, 2025. There were also overdraft facilities of R300m available. BUSINESS REPORT
Yahoo
2 days ago
- Business
- Yahoo
Karooooo Reports Strong Q1 2026 Results Highlighted By Accelerating Cartrack Revenue Growth
SINGAPORE, July 22, 2025--(BUSINESS WIRE)--Karooooo Limited ("Karooooo") reported strong results for the first quarter ("Q1 2026") ended May 31, 2025. Karooooo owns 100% of Cartrack and 74.8% of Karooooo Logistics. Q1 2026 highlights include: Q1 Cartrack Subscription Revenue growth accelerated to 19% Y/Y Karooooo EPS increased 19% Y/Y to ZAR8.55 (Q1 2025: ZAR7.17) Karooooo Subscribers increased 17% to 2.4 million (Q1 2025: 2.0 million) Zak Calisto, CEO and Founder: "We are pleased to report a strong start to FY 2026 highlighted by accelerating Cartrack subscription revenue growth across all regions. We are realizing the benefits of our extensive footprint, and we believe that we remain well positioned to build our customer base. We remain optimistic about continued healthy organic growth in all geographies. Southeast Asia continues to present the largest growth opportunity for us over the medium-to-long term and is our fastest growing region. Cartrack Subscription Revenue growth in Southeast Asia accelerated to 30% in the first quarter." Cartrack total revenue increased 18% to ZAR1,156 million in Q1 2026 (Q1 2025: ZAR981 million). Cartrack subscription revenue increased 19% to ZAR1,138 million in Q1 2026 (Q1 2025: ZAR960 million). Cartrack delivered net subscriber additions of 84,013 during the quarter (Q1 2025: 75,910). Karooooo Logistics continues to scale and its revenue increased 20% to ZAR121 million in Q4 2025 (Q1 2025: ZAR101 million). Karooooo's EPS increased 19% to ZAR8.55 in Q1 2026 (Q1 2025: ZAR7.17). Karooooo's consistently profitable business model, underpinned by a strong balance sheet and healthy cash position, positions it well to capitalize on a growing opportunity. Full earnings: About Karooooo Karooooo digitally transforms physical operations by simplifying decision making. Through its cloud platform, Karooooo empowers businesses to conquer operations including fleet maintenance, fuel management and asset utilization, workforce management, logistics, safety, compliance, risk and environmental impact. Karooooo's differentiated insights and analytics simplify day-to-day operations and enable businesses to decrease costs, increase efficiency, improve safety and strengthen workforce and customer satisfaction. Karooooo is headquartered in Singapore and services more than 125,000 commercial customers and more than 2,400,000 active subscribers in more than 20 countries. For more information, visit View source version on
Business Wire
2 days ago
- Business
- Business Wire
Karooooo Reports Strong Q1 2026 Results Highlighted By Accelerating Cartrack Revenue Growth
SINGAPORE--(BUSINESS WIRE)--Karooooo Limited ('Karooooo') reported strong results for the first quarter ('Q1 2026') ended May 31, 2025. Karooooo owns 100% of Cartrack and 74.8% of Karooooo Logistics. We are pleased to report a strong start to FY 2026 highlighted by accelerating Cartrack subscription revenue growth across all regions. Share Q1 2026 highlights include: Q1 Cartrack Subscription Revenue growth accelerated to 19% Y/Y Karooooo EPS increased 19% Y/Y to ZAR8.55 (Q1 2025: ZAR7.17) Karooooo Subscribers increased 17% to 2.4 million (Q1 2025: 2.0 million) Zak Calisto, CEO and Founder: 'We are pleased to report a strong start to FY 2026 highlighted by accelerating Cartrack subscription revenue growth across all regions. We are realizing the benefits of our extensive footprint, and we believe that we remain well positioned to build our customer base. We remain optimistic about continued healthy organic growth in all geographies. Southeast Asia continues to present the largest growth opportunity for us over the medium-to-long term and is our fastest growing region. Cartrack Subscription Revenue growth in Southeast Asia accelerated to 30% in the first quarter.' Cartrack total revenue increased 18% to ZAR1,156 million in Q1 2026 (Q1 2025: ZAR981 million). Cartrack subscription revenue increased 19% to ZAR1,138 million in Q1 2026 (Q1 2025: ZAR960 million). Cartrack delivered net subscriber additions of 84,013 during the quarter (Q1 2025: 75,910). Karooooo Logistics continues to scale and its revenue increased 20% to ZAR121 million in Q4 2025 (Q1 2025: ZAR101 million). Karooooo's EPS increased 19% to ZAR8.55 in Q1 2026 (Q1 2025: ZAR7.17). Karooooo's consistently profitable business model, underpinned by a strong balance sheet and healthy cash position, positions it well to capitalize on a growing opportunity. Full earnings: About Karooooo Karooooo digitally transforms physical operations by simplifying decision making. Through its cloud platform, Karooooo empowers businesses to conquer operations including fleet maintenance, fuel management and asset utilization, workforce management, logistics, safety, compliance, risk and environmental impact. Karooooo's differentiated insights and analytics simplify day-to-day operations and enable businesses to decrease costs, increase efficiency, improve safety and strengthen workforce and customer satisfaction. Karooooo is headquartered in Singapore and services more than 125,000 commercial customers and more than 2,400,000 active subscribers in more than 20 countries. For more information, visit
Yahoo
14-07-2025
- Business
- Yahoo
Karooooo to Announce First Quarter 2026 Results on July 22, 2025
SINGAPORE, July 14, 2025--(BUSINESS WIRE)--Karooooo Limited (NASDAQ: KARO) ("Karooooo" or "the Company"), which owns 100% of Cartrack and 74.8% of Karooooo Logistics, announced that the Company will release its First Quarter 2026 Financial Results on Tuesday, July 22, 2025 shortly after 04:00 p.m. Eastern Time. Webcast: The Company will host a corresponding Zoom webinar on Wednesday, July 23, 2025 at 08:00 a.m. Eastern Time (02:00 p.m. South African time; 08:00 p.m. Singaporean time). Investors are invited to join the Zoom webinar at: Webinar ID: 832 4134 3701 Telephone: US (New York) Toll-free: +1 646 558 8656 South Africa Toll-free: +27 87 551 7702 A replay will be available at approximately three hours after the conclusion of the live event. About Karooooo Karooooo digitally transforms physical operations by simplifying decision making. Through its cloud platform, Karooooo empowers businesses to conquer operations including fleet maintenance, fuel management and asset utilization, workforce management, logistics, safety, compliance, risk and environmental impact. Karooooo's differentiated insights and analytics simplify day-to-day operations and enable businesses to decrease costs, increase efficiency, improve safety and strengthen workforce and customer satisfaction. Karooooo is headquartered in Singapore and services more than 125,000 commercial customers and more than 2,400,000 active subscribers in more than 20 countries. For more information, visit View source version on Contacts Investor Relations Contact: IR@ Media Contact: media@
The Citizen
29-06-2025
- Automotive
- The Citizen
Concern that less than 30% of South Africans have adequate insurance
Many consumers only realise their insurance shortcomings after experiencing a loss. Less than 30% of South Africans have adequate short-term insurance, which means that if their homes, home contents, or cars are damaged or stolen, they must bear the cost of the damage themselves. Tando Ngibe, spokesperson for Budget Insurance, says the company is sounding the alarm: nearly one in three South Africans who submitted claims after household break-ins in the past year were not adequately insured, often discovering painful gaps in their cover when it was already too late. 'And while this points to household cover, the reality is that the same rings true for most short-term cover. In fact, research by Quantam recently indicated that 80% of consumers with short-term insurance are underinsured by more than 50% of the value of their assets.' ALSO READ: Why you should find funds for short-term insurance in your budget Education is the missing link Ngibe says education is still the missing piece where consumers are still largely uninformed when it comes to protecting their assets, with many only confronting the reality of their insurance shortcomings after experiencing a loss.' This comes amid rising concerns around vehicle-related crimes and increasing misunderstandings about what constitutes adequate protection. 'Too many South Africans do not understand what constitutes adequate protection. For example, when it comes to vehicles, some consumers are under the false impression that warranties and service plans equal protection, but a service plan will not replace your car after it is stolen and a warranty will not help you if your car is hijacked or written off.' Ngibe emphasises that the threat is real – and growing. ALSO READ: Short-term insurance cover important in times of severe weather Why short-term insurance is important Budget Insurance's internal data paints a stark reminder of the reason why insurance is important: Hijackings increased by 1% between 2023 and 2024; Vehicle theft, while down by 9%, remains dangerously high, with an average of 65 cars stolen per day in South Africa, according to Cartrack's report for the third quarters of 2023 and 2024; The 13% drop in household break-ins suggests improving home security, yet 30% of those affected lacked sufficient cover. 'We are seeing encouraging growth in value-added products like warranties and service plans, and notably, we are also seeing fewer cancellations, which shows more consumers are thinking long-term.' ALSO READ: How an 'act of nature' can affect your short-term insurance Short-term insurance must be a priority Ngibe is urging South Africans to review their cover, now, not after disaster strikes. 'Insurance needs to move from being an afterthought to an essential financial consideration. Understanding your cover is not just a box to tick, but a financial safety net that could determine whether you recover from a loss or not. 'In an increasingly uncertain environment, insurance must be seen as a proactive tool for financial resilience, not a grudge purchase. As lives, vehicles and assets grow in value, so too should your understanding of how to protect them.'
