Car-tracking company founded by a South African billionaire breaks another record

Karooooo has released another set of record-breaking results for the 2026 financial year, with record subscription revenue, operating income, and adjusted earnings.

Karooooo owns 81% of Karooooo Logistics and 100% of Cartrack, which was founded by billionaire Zak Calisto in 2001 in partnership with Netstar.

In 2021, Cartrack Holdings rebranded to Karooooo, and continued its strong growth under Calisto’s leadership.

On Thursday, 14 May, Karooooo released its results for the year ended 28 February 2026, which revealed a strong performance.

Karooooo’s total revenue increased by 20% to R5.48 billion, and record subscription revenue increased 19% to R4.84 billion.

A standout performer was Cartrack, which saw its total revenue increase by 19% to R4.94 billion.

This strong growth was driven primarily by the acquisition of new customers and selling Video and the Cartrack-Tag to existing customers. 

This allowed Cartrack to grow its subscription revenue by 19% to a record of R4.83 billion, with subscription revenue now accounting for 98% of Cartrack’s total revenue.

Karooooo Logistics’s total revenue increased by 29% to R540 million, which the company attributed to demand for e-commerce orders.

It reported that Karooooo Logistics completed more than 8 million deliveries in the 2026 financial year.

Despite 22% higher operating costs over the period, driven largely by investments in Cartrack, Karooooo’s operating profit grew by 8% to R1.42 billion.

The company’s earnings per share (EPS) also grew by 8% to reach R32.17 per share. Adjusted to exclude the costs of a secondary public offering in June 2025, the group’s EPS grew to R32.55.

On the back of these results, Karooooo declared a dividend of $1.50 (R24.65) per share, an increase of 20% year-on-year.