Karooooo has released its financial results for the quarter ended 31 May 2025, revealing strong growth in its vehicle tracking and recovery business, Cartrack.<\/p>\n\n\n\n
Cartrack’s subscriber base grew by 16.6%, or nearly 340,000, from 2.05 million to 2.37 million. At the same time, net subscriber additions increased by 11% to 84,013.<\/p>\n\n\n\n
In South Africa, Cartrack’s customer base increased by 16% to 1.8 million as of 31 May 2025, up from 1.55 million the year before.<\/p>\n\n\n\n
“We are encouraged by the strong teams that we are building to accelerate organic growth, broaden our customer base, and increase product adoption in the region,” it said.<\/p>\n\n\n\n
“We continue to see a compelling market opportunity in South Africa and we are excited about the potential ahead.”<\/p>\n\n\n\n
Cartrack’s subscription revenue grew by 18.5% during the period, reaching R1.14 billion as of 31 May 2025, up from R950 million last year.<\/p>\n\n\n\n
Overall revenue growth was similar at 18.20%, increasing from R981 million in May 2024 to R1.16 million in May 2025.<\/p>\n\n\n\n
“Cartrack’s revenue increased 18% to R1,156 million (Q1 2025: R981 million), driven primarily by its subscription-based business model,” the company said.<\/p>\n\n\n\n
“Cartrack’s subscription revenue increased 19% to a record R1,138 million in Q1 2026 (Q1 2025: R960 million). Subscription revenue represented 98% of Cartrack’s total revenue.”<\/p>\n\n\n\n
The vehicle tracking businesses reported an operating profit of R342 million during the quarter, an increase of 19.2% from the R287 million reported for the same period last year.<\/p>\n\n\n\n
Cartrack’s earnings before interest, taxation, depreciation, and amortisation (EBITDA) also significantly increased, from R453 million on 31 May 2024 to R533 million as of 31 May 2025.<\/p>\n\n\n\n
Karooooo said it was encouraged by Cartrack’s positive performance in Q1 2026 and that it plans to accelerate subscription revenue growth further.<\/p>\n\n\n\n
It plans to achieve this by further expanding its footprint in existing markets, driving broader platform adoption, and capitalising on growing demand for video solutions.<\/p>\n\n\n\n
The table below summarises key figures reported in Cartrack’s results for the quarter ended 31 May 2025.<\/p>\n\n\n\n <\/p>\n","protected":false},"excerpt":{"rendered":" Karooooo has reported strong first quarter growth for its vehicle tracking and recovery business, Cartrack.<\/p>\n","protected":false},"author":341076,"featured_media":464337,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"idle","_sma_x_autopost_error":"","_sma_x_post_id":"","_sma_facebook_post_id":"","_sma_instagram_post_id":"","_sma_threads_post_id":"","_sma_x_attempts":0,"footnotes":""},"categories":[19],"tags":[66088,100695,69535],"class_list":["post-603678","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-cartrack","tag-cartrack-south-africa","tag-karooooo"],"_links":{"self":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/603678"}],"collection":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/users\/341076"}],"replies":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/comments?post=603678"}],"version-history":[{"count":4,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/603678\/revisions"}],"predecessor-version":[{"id":603737,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/603678\/revisions\/603737"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media\/464337"}],"wp:attachment":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media?parent=603678"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/categories?post=603678"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/tags?post=603678"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Measure<\/th> Q1 2026<\/th> Q1 2025<\/th> Change<\/th><\/tr><\/thead> Subscribers<\/strong><\/td> 2.37 million<\/td> 2.05 million<\/td> 16.60%<\/td><\/tr> Subscription revenue<\/strong><\/td> R1.14 billion<\/td> R960 million<\/td> 18.50%<\/td><\/tr> Total revenue<\/strong><\/td> R1.16 billion<\/td> R981 million<\/td> 18.20%<\/td><\/tr> Operating profit<\/strong><\/td> R342 million<\/td> R287 million<\/td> 19.20%<\/td><\/tr> EBITDA<\/strong><\/td> R533 million<\/td> R453 million<\/td> 17.60%<\/td><\/tr><\/tbody><\/table><\/div><\/figure>\n\n\n\n