Karooooo Reports Q1 2027 Results with Record Net Subscriber Additions and Accelerating Growth

SINGAPORE--(BUSINESS WIRE)--Karooooo Limited (“Karooooo”) reported strong results for the first quarter (“Q1 2027”) ended May 31, 2026. Karooooo owns 100% of Cartrack and 81% of Karooooo Logistics, (collectively, “the group”).

Financial highlights include:

• Q1 Cartrack Subscription Revenue accelerated to 19% Y/Y reaching ZAR1,351 million and 21% in constant currency
• Q1 ARR accelerated to 19% Y/Y reaching ZAR5,432 million and 32% in USD equivalent
• Karooooo delivered record operating profit of ZAR410 million despite FX headwinds
• Cartrack Subscriber growth accelerated to 18% with subscribers surpassing 2.8 million
• Net subscriber additions increased 70% to a record 142,472; South Africa net subscriber additions increased 92%
• Reaffirming FY27 Outlook: Cartrack Subscription Revenue growth to accelerate, with EPS growth of 21% Y/Y at midpoint¹

“FY2027 has commenced with strong, accelerated growth, underpinned by Cartrack constant currency subscription revenue growth of 21% and a record 142,472 net subscriber additions in the quarter.

Despite the strengthening ZAR, which negatively impacts contributions from most of the countries in which we operate, subscription revenue and ARR each accelerated to 19%. In constant currency, ARR increased 22% and presented in USD, ARR increased 32%, reaching USD335 million.

Our product innovation continues to deliver the intended outcomes. This year, our focus remains to accelerate growth by growing sales and marketing at a moderate pace while optimizing the strong investment we made in sales capacity during FY2026.

We remain optimistic about the opportunities across our regions and believe we are well positioned to build on the momentum established in the first quarter,” said Zak Calisto, Group CEO.

Driven by strong demand for the Cartrack-Tag and Video, Cartrack delivered a record of 142,472 net subscriber additions during the quarter, representing an increase of 70% (Q1 2026: 84,013).

Cartrack’s subscription revenue accelerated to 19% reaching ZAR1,351 million in Q1 2027 (Q1 2026: ZAR1,138 million) and increased 21% in constant currency.

Cartrack’s annualized recurring revenue (“ARR”) accelerated to 19% reaching ZAR5,432 million (Q1 2026: ZAR4,574 million). ARR increased 22% in constant currency and 32% in USD.

Karooooo Logistics’s total revenue increased 46% to ZAR177 million (Q1 2026: ZAR121 million) as our customers experience strong demand for Quick Commerce.

¹ Refer to our 6K filed on July 15, 2026, for our FY 2027 Outlook.

Visit: www.karooooo.com