Latest news with #ZakCalisto
IOL News
7 days 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
22-07-2025
- 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
22-07-2025
- 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
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.
