Latest news with #Cartrack
The Citizen
5 days ago
- Business
- The Citizen
Swift action leads to vehicle recovery and suspect arrest in Alberton
Swift action leads to vehicle recovery and suspect arrest in Alberton A hijacked vehicle and a house burglar were found in two separate operations thanks to co-ordinated efforts by local security teams and law enforcement. CPS Security's reaction team assisted Cartrack in recovering a white Nissan Navara hijacked on the N12 highway on June 2. The vehicle was swiftly traced and located on Potgieter Road in Alrode. 'Kudos to our team and the SAPS for their collaboration in bringing the vehicle back to its rightful owner,' said CPS in a Facebook post. In a separate incident on May 30, CPS Security partnered with the EMPD's Crime Liaison Unit to arrest a suspect linked to a recent house burglary on 10th Avenue, Alberton North. The suspect was tracked to an informal settlement on 2nd Avenue, where he was found with stolen property. He was arrested on the scene and handed over to the Alberton SAPS for further investigation. Both operations underscore the effectiveness of community safety partnerships. At Caxton, we employ humans to generate daily fresh news, not AI intervention. Happy reading!
Business Insider
23-05-2025
- Business
- Business Insider
Africa welcomes new dollar billionaire from the world of car tracking technology
Africa has welcomed a new addition to its exclusive circle of dollar billionaires, bringing the continent's total to 23. Zak Calisto, founder and CEO of Karooooo Ltd., has become Africa's 23rd dollar billionaire. Calisto owns about two-thirds of Karooooo Ltd., which recently reported strong subscription revenue growth. As of March 2025, Africa boasts a combined billionaire wealth exceeding $105 billion, a record high. Zak Calisto, founder and CEO of Karooooo Ltd, a vehicle tracking and fleet management services firm, has joined Africa's exclusive circle of dollar billionaires. Karooooo Ltd., which began as Cartrack, has experienced significant growth after expanding its offerings to include AI-powered driver monitoring and fleet management services. This strategic shift has propelled Zak Calisto into the ranks of dollar billionaires. According to Bloomberg, Zak Calisto, the Portugal-born founder of Karooooo Ltd. (formerly Cartrack), owns approximately two-thirds of the company. The company's stock surged after reporting double-digit subscription revenue growth and a 25% increase in earnings per share for the year through February 2025. Calisto's journey from a local entrepreneur to a global billionaire showcases Africa's growing influence in the digital economy. His company, which moved its headquarters to Singapore in 2020, sees Asia as crucial to its future expansion plans. With a customer base of 2.3 million, mostly in South Africa, Karooooo Ltd. plans to prioritize organic growth but remains open to strategic acquisitions. " There's significant potential for even faster growth," Calisto said in an interview. Africa's billionaire count As of March 2025, Africa had 22 billionaires on its Forbes list, with fortunes spanning sectors such as manufacturing, retail, petroleum, real estate, and fashion. For the first time ever, the combined wealth of these African billionaires surpassed $100 billion, reaching a record $105 billion, up from $82.4 billion in the previous year when the continent had 20 billionaires. South Africa has consistently maintained a strong hold on the list, contributing the highest number of billionaires. In the 2025 ranking, South Africa accounted for seven billionaires, followed by Nigeria and Egypt with four each. The list also includes three billionaires from Morocco, one from Algeria (Issad Rebrab), one from Tanzania (Mohammed Dewji), and one from Zimbabwe (Strive Masiyiwa).
Bloomberg
22-05-2025
- Automotive
- Bloomberg
Tracking Down Hijacked Cars Helps Mint a New African Billionaire
Zak Calisto's firm started out helping carjack victims recover their vehicles in South Africa two decades ago. It's since expanded to an international track-and-trace giant with a New York listing — and made him Africa's newest billionaire. The Portugal-born founder of telematics firm Karooooo Ltd, which started out as Cartrack, owns about two-thirds of the company which has since expanded to services including AI-powered driver monitoring and fleet-management. Backed by rising client subscriptions and global expansion, the stock rallied last week, catapulting him into the ranks of South African dollar billionaires.
Yahoo
16-05-2025
- Business
- Yahoo
Karooooo Ltd (KARO) Q4 2025 Earnings Call Highlights: Strong Revenue Growth and Strategic ...
Release Date: May 15, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Karooooo Ltd (NASDAQ:KARO) reported a 15% increase in subscription revenue for FY25, with a 19% increase on a US dollar basis. Cartrack's operating profit margin was a robust 34%, showcasing strong financial performance. Karooooo Ltd (NASDAQ:KARO) achieved a 17% increase in total subscribers, with notable growth in South Africa and Europe. The company maintained a high commercial retention rate of 95%, indicating strong customer loyalty. Karooooo Ltd (NASDAQ:KARO) ended FY25 with a strong balance sheet, holding net cash and cash equivalents of 838 million ZAR. Karooooo Ltd (NASDAQ:KARO) anticipates lower earnings per share growth in FY26 due to planned upfront investments in sales and marketing. The company experienced a decline in quarterly adjusted free cash flow due to deliberate investments to support growth. Net subscriber additions in FY25 were slightly down compared to FY24 levels, indicating potential challenges in market expansion. Karooooo Ltd (NASDAQ:KARO) faces challenges with low liquidity, impacting the effectiveness of share buybacks. The company expects a temporary dip in sales productivity as new hires in Asia mature over the first six months. Warning! GuruFocus has detected 7 Warning Signs with KARO. Q: Can you discuss the launch and reception of the Cartrack tag and its potential for adoption within your core subscription base? A: Zach Callisto, Founder and Group CEO: We've successfully launched the Cartrack tag in Southern Africa, from Cape Town to Kenya. It's been well-received by both businesses and consumers, and we are achieving substantial scale. We are considering expanding this to Asia next. Q: What are the key drivers for growth in 2026, particularly regarding subscriber count and product upsell? A: Zach Callisto, Founder and Group CEO: In FY26, our focus will be on enhancing the customer offering with the Cartrack tag and video solutions, aiming for a 10% increase in ARPU by year-end. We will concentrate on sales to existing customers to drive growth. Q: How are you planning to expand your sales capacity, and what is the current status of your salesforce? A: Zach Callisto, Founder and Group CEO: We have over 5,000 employees and plan to increase our staff by about 1,500 this year. We saw good traction in the last six months and expect continued growth in FY26, particularly in Asia, where we plan to increase our salesforce by 70%. Q: What is your outlook for regional growth, particularly in South Africa, Europe, and Southeast Asia? A: Zach Callisto, Founder and Group CEO: All regions offer significant growth opportunities. Asia presents the largest market with the highest growth potential, but we expect good growth across all regions in FY26. Q: With a net cash balance of about 840 million, what are your plans regarding dividends and share buybacks? A: Zach Callisto, Founder and Group CEO: We focus on capital allocation for shareholder returns. If we cannot efficiently invest in growth, we will consider returning excess cash to shareholders, typically deciding on dividends in Q2. Share buybacks are challenging due to low liquidity, so we focus on other priorities. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
16-05-2025
- Business
- Yahoo
Karooooo Ltd (KARO) Q4 2025 Earnings Call Highlights: Strong Revenue Growth and Strategic ...
Release Date: May 15, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Karooooo Ltd (NASDAQ:KARO) reported a 15% increase in subscription revenue for FY25, with a 19% increase on a US dollar basis. Cartrack's operating profit margin was a robust 34%, showcasing strong financial performance. Karooooo Ltd (NASDAQ:KARO) achieved a 17% increase in total subscribers, with notable growth in South Africa and Europe. The company maintained a high commercial retention rate of 95%, indicating strong customer loyalty. Karooooo Ltd (NASDAQ:KARO) ended FY25 with a strong balance sheet, holding net cash and cash equivalents of 838 million ZAR. Karooooo Ltd (NASDAQ:KARO) anticipates lower earnings per share growth in FY26 due to planned upfront investments in sales and marketing. The company experienced a decline in quarterly adjusted free cash flow due to deliberate investments to support growth. Net subscriber additions in FY25 were slightly down compared to FY24 levels, indicating potential challenges in market expansion. Karooooo Ltd (NASDAQ:KARO) faces challenges with low liquidity, impacting the effectiveness of share buybacks. The company expects a temporary dip in sales productivity as new hires in Asia mature over the first six months. Warning! GuruFocus has detected 7 Warning Signs with KARO. Q: Can you discuss the launch and reception of the Cartrack tag and its potential for adoption within your core subscription base? A: Zach Callisto, Founder and Group CEO: We've successfully launched the Cartrack tag in Southern Africa, from Cape Town to Kenya. It's been well-received by both businesses and consumers, and we are achieving substantial scale. We are considering expanding this to Asia next. Q: What are the key drivers for growth in 2026, particularly regarding subscriber count and product upsell? A: Zach Callisto, Founder and Group CEO: In FY26, our focus will be on enhancing the customer offering with the Cartrack tag and video solutions, aiming for a 10% increase in ARPU by year-end. We will concentrate on sales to existing customers to drive growth. Q: How are you planning to expand your sales capacity, and what is the current status of your salesforce? A: Zach Callisto, Founder and Group CEO: We have over 5,000 employees and plan to increase our staff by about 1,500 this year. We saw good traction in the last six months and expect continued growth in FY26, particularly in Asia, where we plan to increase our salesforce by 70%. Q: What is your outlook for regional growth, particularly in South Africa, Europe, and Southeast Asia? A: Zach Callisto, Founder and Group CEO: All regions offer significant growth opportunities. Asia presents the largest market with the highest growth potential, but we expect good growth across all regions in FY26. Q: With a net cash balance of about 840 million, what are your plans regarding dividends and share buybacks? A: Zach Callisto, Founder and Group CEO: We focus on capital allocation for shareholder returns. If we cannot efficiently invest in growth, we will consider returning excess cash to shareholders, typically deciding on dividends in Q2. Share buybacks are challenging due to low liquidity, so we focus on other priorities. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
