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Karooooo’s Half-Year Revenue Up 7% to $124.2M, Driven by Subscription Growth

Karooooo Limited, a Singapore-based mobility platform established by South African entrepreneur Zak Calisto, published strong financial results for the first half of the 2025 fiscal year, with steady increase in subscription revenue and operating efficiency. Total revenue increased by 7% to R2.19 billion ($124.2 million) from R2.04 billion ($115.7 million) the year before.

Subscription income, which is at the heart of Karooooo’s business model, increased 15% year on year to R1.95 billion ($110.62 million), up from R1.697 billion ($96.4 million). The segment accounted for 98 percent of the group’s total revenue, up from 97 percent the previous year, reflecting the group’s sustained focus on developing recurring revenue streams.

Karooooo‘s major subsidiary, Cartrack, a telematics and fleet management company, reported a 14 percent rise in revenue to R1.987 billion ($113 million) from R1.737 billion ($98.7 million) in the first half of fiscal 2024. The segment continues to perform at scale, solidifying its market-leading position in key markets.

Karooooo Logistics, which trades as Picup in South Africa, also reported substantial growth, with sales increasing by 51 percent to R202 million ($11.46 million) from R134 million ($7.6 million) in the previous period. The achievement underscores the company’s strategic goal of expanding logistics operations to complement its main telematics business.

The group’s strong cost management technique resulted in a significant profit gain. Net profit for the first half of fiscal 2025 increased to R441.05 million ($25.02 million), from R340.16 million ($19.29 million) the previous year.

This strong financial performance demonstrates Karooooo’s capacity to maintain profitability even as its global activities expand. Earnings per share (EPS) increased by 31% to R14.02 ($0.8) from R10.7 ($0.61).

Zak Calisto founded Karooooo in 2001 as a vehicle recovery business in South Africa, and it has now grown into a worldwide mobility platform with over 2 million active users in 23 countries.

Calisto, who owns 74.73 percent of the company (equal to 23.17 million shares), continues to be a primary driver of Karooooo’s growth and success. Calisto’s leadership has not only cemented Karooooo’s position as a leader in telematics and logistics solutions, but also elevated him to the ranks of Africa’s wealthiest tech entrepreneurs.

Karooooo’s total assets increased to R4.46 billion ($253 million) as of August 31, 2024, up from R3.77 billion ($213.9 million) a year earlier, indicating the company’s upward trend. Retained earnings also rose to R1.62 billion ($92 million) from R1.4 billion ($79.4 million), indicating robust operational performance and long-term cash flows.

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