Karooooo’s half-year revenue rises seven percent to $124.2 million on subscription growth

Omokolade Ajayi -
Key Points
  • Karooooo’s total revenue rose 7% to R2.19 billion ($124.2 million), driven by a 15% increase in subscription revenue to R1.95 billion ($110.62 million).
  • Net profit jumped to R441.05 million ($25.02 million) from R340.16 million ($19.29 million), fueled by cost control and operational efficiency.
  • Total assets increased to R4.46 billion ($253 million), with retained earnings climbing to R1.62 billion ($92 million) by Aug. 31, 2024.

Karooooo Limited, the Singapore-based mobility platform led by South African entrepreneur Zak Calisto, reported robust financial results for the first half of its 2025 fiscal year, driven by sustained growth in subscription revenue and operational efficiency. Total revenue climbed 7 percent to R2.19 billion ($124.2 million) from R2.04 billion ($115.7 million) a year earlier.

Subscription revenue, which represents the core of Karooooo’s business model, rose 15 percent year-over-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, an increase from 97 percent in the prior year, the group’s continued focus on expanding recurring revenue streams.

Karooooo reports 14% revenue growth

Karooooo’s flagship subsidiary, Cartrack, a telematics and fleet management business, posted a 14 percent revenue increase to R1.987 billion ($113 million) from R1.737 billion ($98.7 million) in the first half of fiscal 2024. The segment continues to deliver at scale, building on its market-leading position across key regions.

Karooooo Logistics, trading as Picup in South Africa, also reported strong growth, with revenue surging 51 percent to R202 million ($11.46 million), compared to R134 million ($7.6 million) in the prior period. The performance reflects the company’s strategic focus on scaling logistics operations to complement its core telematics business.

Karooooo profit surges on cost control

The group’s effective cost management strategy contributed to a notable profit increase. Net profit for the first half of fiscal 2025 rose to R441.05 million ($25.02 million), up from R340.16 million ($19.29 million) a year earlier. 

This solid financial performance underscores Karooooo's ability to drive profitability even as it scales its global operations. Earnings per share (EPS) grew 31 percent to R14.02 ($0.8) from R10.7 ($0.61).

Assets base and retained earnings strengthen

Since founding the company in 2001 as a vehicle recovery service in South Africa, Zak Calisto has transformed Karooooo into a global mobility platform serving more than 2 million active users across 23 countries.

With a commanding 74.73 percent stake in the company—equivalent to 23.17 million shares—Calisto remains a key driver behind Karooooo’s expansion and success. Calisto’s leadership has not only solidified Karooooo’s status as a leader in telematics and logistics solutions but also placed him among Africa’s wealthiest tech entrepreneurs.

Karooooo's total assets expanded to R4.46 billion ($253 million) as of Aug. 31, 2024, up from R3.77 billion ($213.9 million) a year earlier, reflecting the company’s growth trajectory. Retained earnings also increased to R1.62 billion ($92 million) from R1.4 billion ($79.4 million), showcasing strong operational performance and sustainable cash flows.