Karooooo Reports Record Q4 and FY2025 Results Fuelled by Accelerating Cartrack Subscriber Revenue Growth and Robust Profitability

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05/14/2025 - 04:14 PM

SINGAPORE--(BUSINESS WIRE)-- Karooooo Limited (“Karooooo”) reported record results for the fourth quarter (“Q4 2025”) and full-year FY 2025 ended February 28, 2025. Karooooo owns 100% of Cartrack and 74.8% of Karooooo Logistics.

Q4 2025 and FY2025 highlights include:

Karooooo delivered record revenue, operating income and EPS for the fourth quarter and full year FY2025
Karooooo FY2025 EPS increased 25% Y/Y to ZAR29.81 and Adjusted EPS increased 33% Y/Y to ZAR31.67
Karooooo Q4 2025 adjusted EPS increased 39% Y/Y to ZAR9.48
Karooooo subscribers increased 17% Y/Y to 2.3 million
Q4 2025 Cartrack subscription revenue accelerated to 16% Y/Y

Zak Calisto, CEO and Founder:

“FY2025 was a year of strong execution, impactful innovation and significant progress. We accelerated customer acquisition, enhanced our platform with more advanced AI Video capabilities and other features, and successfully launched the Cartrack-Tag. We remain optimistic about continued healthy organic growth in South Africa while our investments in Europe are driving accelerating subscriber growth. Southeast Asia continues to represent our largest medium-to-long-term growth opportunity, and we are excited about our progress in the region. Constant currency subscription revenue growth increased 31% in Southeast Asia in Q4. Our culture of innovation, disciplined execution, and customer centricity give us confidence as we aim to accelerate our growth in FY2026.”

Karooooo subscription revenue increased 16% to ZAR1,086 million in Q4 2025 (Q4 2024: ZAR935 million), and operating profit increased 30% to ZAR385 million (Q4 2024: ZAR296 million).

Cartrack total revenue increased 16% to ZAR1,110 million in Q4 2025 (Q4 2024: ZAR958 million). Cartrack subscription revenue increased 16% to ZAR1,084 million in Q4 2025 (Q4 2024: ZAR930 million) and accelerated 200 basis points in Q4 2025 compared to Q3 2025 growth of 14%. Cartrack operating profit margin was 34% in Q4 2025. Cartrack delivered net subscriber additions of 79,009 during the quarter (Q4 2024: 63,340).

Karooooo Logistics revenue increased 19% to ZAR110 million in Q4 2025 (Q4 2024: ZAR93 million).

Karooooo’s adjusted EPS increased 39% to ZAR9.48 in Q4 2025 (Q4 2024: ZAR6.81). FY 2025 adjusted EPS increased 33% to ZAR31.67 (FY 2024: ZAR23.85).

Karooooo’s proven, resilient and consistently profitable business model, underpinned by a strong balance sheet and healthy cash position, positions it to capitalize on a growing and largely underpenetrated market in FY2026.

Full earnings: www.karooooo.com