Karooooo Ltd. (KARO) reports Q2 results

Karooooo Ltd. (NASDAQ: KARO) reported Q2 EPS of ZAR7.17, ZAR0.77 better than the analyst estimate of ZAR6.40.

Cartrack subscribers increased 17% to 2,047,442 at May 31, 2024 (Q1 2024: 1,757,452), with net subscriber additions having increased by 88% to 75,910 (Q1 2024: 40,375). At the time of this press release, Cartrack had exceeded 2,1 million subscribers.

Karooooo’s operating profit grew by 34% to ZAR300 million (Q1 2024: ZAR224 million) and earnings per share by 41% to ZAR7.17 (Q1 2024: ZAR5.09).

Cartrack grew revenue by 15% to ZAR981 million (Q1 2024: ZAR853 million) and subscription revenue by 15% to a record ZAR960 million in Q1 2025 (Q1 2024: ZAR834 million). Subscription revenue equated to 98% of total revenue. Cartrack achieved strong customer acquisition in the quarter, building on its solid track record of growing at scale.

Karooooo Logistics grew revenue by 63% to ZAR101 million (Q1 2024: ZAR62 million). Karooooo Logistics focuses on delivery-as-a-service (“DaaS”) for our large enterprise customers wishing to scale and digitalise their e-commerce operations without investing unnecessarily in additional assets by connecting them into an elastic fleet of third-party delivery drivers.

For earnings history and earnings-related data on Karooooo Ltd. (KARO) click here.

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