Research analysts who have asked questions during Karooooo earnings calls.
Dylan Becker
William Blair
6 questions for KARO
Also covers: AIOT, AZPN, BLND +16 more
Alex
Citigroup
3 questions for KARO
Also covers: DUK, FUL, IFF +1 more
R
Roy
Morgan Stanley
3 questions for KARO
S
Sinan
Amber Road
3 questions for KARO
A
Ably
Amber Road
2 questions for KARO
AS
Alex Sklar
Raymond James & Associates, Inc.
2 questions for KARO
Also covers: INTA, IOT, NCNO +2 more
RC
Roy Campbell
Morgan Stanley
2 questions for KARO
SS
Scott Searle
ROTH MKM
2 questions for KARO
Also covers: ADEA, AIOT, AIRG +22 more
AS
Alexander Sklar
Raymond James Financial, Inc.
1 question for KARO
Also covers: AIOT, BL, DUOL +11 more
AS
Alex Skoler
Raymond James
1 question for KARO
CS
Colin Smith
One Africa Partners
1 question for KARO
C
Cornelis
Macquarie
1 question for KARO
DB
Dylan Bieber
William Blair
1 question for KARO
Jackson
William Blair & Company
1 question for KARO
JR
Joshua Reilly
Needham & Company
1 question for KARO
Also covers: AEYE, ASUR, AUDC +15 more
JR
Joshua Riley
Wolfe Research
1 question for KARO
Also covers: AUDC, PAYC, YOU
KS
Keelan Smith
One Africa Capital
1 question for KARO
M
Matthew
Stifel
1 question for KARO
Also covers: KALV
PO
Patrick O'Reilly
Fleet Watch
1 question for KARO
Recent press releases and 8-K filings for KARO.
Karooooo Reports Strong Q3 FY 2026 Results with Accelerating ARR and Raised Revenue Outlook
KARO
Earnings
Revenue Acceleration/Inflection
Guidance Update
- Karooooo reported strong Q3 FY 2026 financial results, with total revenue increasing 22% to ZAR 1,410 million and subscription revenue growing 20% to ZAR 1,239 million.
- Annual Recurring Revenue (ARR) accelerated for the fourth consecutive quarter, increasing 22% to ZAR 5,106 million (28% to $298 million on a U.S. dollar basis).
- The company achieved record net subscriber additions of 111,000 in Q3, contributing to a 16% increase in total subscribers to approximately 2.6 million.
- Cartrack's South Africa subscription revenue growth accelerated to 21%, and Average Revenue Per User (ARPU) in South Africa increased 7% to 162 ZAR in November 2025 compared to November 2024.
- Karooooo updated its FY 2026 guidance, raising the Cartrack subscription revenue outlook to between ZAR 4,785 million and ZAR 4,900 million (18% to 21% growth) and revising the Cartrack operating profit margin outlook to between 27% and 30%.
Jan 21, 2026, 1:00 PM
Karooooo Reports Strong Q3 FY 2026 Results with Accelerated ARR Growth and Raised Revenue Outlook
KARO
Earnings
Revenue Acceleration/Inflection
Guidance Update
- Karooooo reported strong Q3 FY 2026 financial results, with Annual Recurring Revenue (ARR) accelerating 22% to ZAR 5,106 million (or 28% to $298 million in USD) and total revenue increasing 22% to ZAR 1,410 million.
- The company achieved record net subscriber additions of 111,000, driving a 16% increase in total subscribers to approximately 2.6 million.
- Despite a 47% increase in sales and marketing expenses to fuel future growth, Karooooo maintained profitability with operating profit up 14% to ZAR 369 million and adjusted earnings per share increasing 11% to ZAR 8.54.
- For FY 2026, Karooooo raised its Cartrack subscription revenue outlook to between ZAR 4,785 million and ZAR 4,900 million (implying 18% to 21% growth) and adjusted its Cartrack operating profit margin outlook to between 27% and 30%.
Jan 21, 2026, 1:00 PM
Karooooo Reports Strong Q3 FY 2026 Results with Accelerating ARR and Raised FY 2026 Cartrack Revenue Outlook
KARO
Earnings
Revenue Acceleration/Inflection
Guidance Update
- Karooooo reported Q3 FY 2026 total revenue of ZAR 1,410 million, an increase of 22%, with subscription revenue growing 20% to ZAR 1,239 million. Operating profit increased 14% to ZAR 369 million, and earnings per share rose 11% to ZAR 8.55.
- The company achieved accelerating SaaS Annual Recurring Revenue (ARR) growth of 22% to ZAR 5,106 million (or $298 million, up 28% in USD) and saw a 16% increase in total subscribers to approximately 2.6 million, including record net additions of 111,000.
- Cartrack's subscription revenue grew 20% to ZAR 1,236 million, with a healthy operating profit margin of 28%, while Karooooo Logistics' Delivery-as-a-Service revenue increased 24% to ZAR 135 million.
- Karooooo is increasing its FY 2026 Cartrack subscription revenue outlook to between ZAR 4,785 million and ZAR 4,900 million (implying 18% to 21% growth) and revising its Cartrack operating profit margin outlook to between 27% and 30%.
- The company made significant planned upfront investments in sales and marketing, which increased 47% in Q3, to drive future recurring revenue and earnings, while maintaining a commercial customer ARR retention rate of 95% and an LTV to CAC ratio above nine times.
Jan 21, 2026, 1:00 PM
Karooooo Reports Strong Q3 FY2026 Results
KARO
Earnings
Guidance Update
New Projects/Investments
- Karooooo reported strong Q3 FY2026 results, with subscription revenue up 20% to R1.24bn and annual recurring revenue (ARR) rising 22% to R5.11bn.
- The company achieved a record addition of 111,478 Cartrack subscribers, bringing the total to approximately 2.57 million.
- Adjusted EPS rose roughly 11% to R8.54–R8.55, with US-dollar EPS of $0.49 beating consensus estimates of $0.46.
- Operating profit increased 14% to R369m, despite Cartrack's operating profit margin narrowing to 28% from 30% due to investments in sales capacity.
- Management signaled revised guidance and continued investment in sales and distribution, which has increased headcount to 7,500 and is planned to exceed 10,000.
Jan 21, 2026, 1:46 AM
Karooooo Reports Strong Q3 2026 Results with Accelerated ARR Growth
KARO
Earnings
Revenue Acceleration/Inflection
- Karooooo reported strong results for the third quarter of 2026, which ended on November 30, 2025.
- Cartrack's SaaS annualized recurring revenue (ARR) in USD accelerated by 28% year-over-year, reaching $298 million.
- Cartrack's subscription revenue increased 20% year-over-year to ZAR1,236 million.
- The company saw a 16% year-over-year increase in Cartrack subscribers to 2.6 million, with net subscriber additions growing 29% year-over-year to a record 111,478.
Jan 20, 2026, 9:36 PM
Karooooo Ltd. Announces Strong Q3 2026 Financial Results and Raised FY26 Revenue Outlook
KARO
Earnings
Guidance Update
Revenue Acceleration/Inflection
- Karooooo Ltd. reported strong third-quarter 2026 results, with SaaS Annualized Recurring Revenue (ARR) accelerating to 22% year-over-year growth, reaching ZAR5,106 million (USD298 million) as of November 30, 2025.
- Cartrack Subscription Revenue increased 20% year-over-year to ZAR1,236 million in Q3 2026, driven by a 16% increase in subscribers to 2.6 million.
- Karooooo's Adjusted Earnings per Share grew 11% year-over-year to ZAR8.54 in Q3 2026.
- The company's operating profit increased 14% to ZAR369 million in Q3 2026, and Karooooo is raising the midpoint of its FY26 Revenue Outlook.
Jan 20, 2026, 9:01 PM
Karooooo Reports Strong Subscription Revenue Growth and Outlines Expansion Strategies
KARO
Revenue Acceleration/Inflection
Guidance Update
Hiring
- Karooooo's Cartrack platform achieved a 20% subscription revenue increase and a 29% operating profit margin in the last quarter, guiding for 16%-21% subscription revenue growth and 26%-31% operating margin for FY26.
- The company is aggressively expanding its sales force, targeting a 70% year-over-year increase in sales headcount in Asia to accelerate growth in its fastest-growing region.
- New product offerings, including video-based safety and asset tags, are expected to drive ARPU uplift, with a goal of a 6% consolidated ARPU increase.
- Karooooo prioritizes capital allocation towards internal investments and product innovation, followed by returning cash to shareholders via dividends, and then selective M&A.
Dec 9, 2025, 8:00 PM
Karooooo Highlights Strong Growth and Strategic Investments at Raymond James Conference
KARO
Revenue Acceleration/Inflection
New Projects/Investments
Guidance Update
- Karooooo reported strong financial results in the last quarter, with a 20% subscription revenue increase and a 29% operating profit margin. The company guided for 16%-21% subscription revenue growth and 26%-31% operating margin for FY26.
- Growth is driven by strategic investments, including a planned 70% increase in sales headcount in Asia (38% achieved in Q2) and the cross-selling of new products like AI video and asset tags, which are expected to drive a 6% consolidated ARPU uplift (with a 10% goal in South Africa).
- The company's capital allocation priorities are investing in product innovation, returning the vast majority of free cash flow to shareholders via an annual dividend, and selectively pursuing M&A.
- Karooooo operates in 24 regions with 2.4 million subscribers, with South Africa accounting for nearly 70% of revenue and Asia being the fastest-growing region. Southeast Asia is noted as an "immature" market with significantly lower penetration rates compared to other markets.
Dec 9, 2025, 8:00 PM
Karooooo Discusses Strong Growth, Strategic Investments, and Market Expansion
KARO
Revenue Acceleration/Inflection
Hiring
New Projects/Investments
- Karooooo reported a 20% subscription revenue increase and a 29% operating profit margin in the last quarter, with guidance for 16% to 21% subscription revenue growth and 26% to 31% operating margin for FY26.
- The company is focused on accelerating growth by significantly increasing sales headcount, including a 70% year-over-year increase in Asia, and by cross-selling new products like AI video and asset tags to existing customers, which can lead to a two- to four-times ARPU uplift.
- Karooooo operates a founder-led, vertically integrated SaaS platform with 2.4 million subscribers across 24 regions, holding a 40% market share in South Africa and identifying Asia as its fastest-growing region.
- The primary capital allocation priority is investing in product innovation and the business, with excess cash returned to shareholders through an annual dividend, and a high bar for M&A opportunities that augment the tech stack or provide access to new geographies.
Dec 9, 2025, 8:00 PM
Karoooo Reports Strong Q2 Growth and Strategic Cross-Selling Focus
KARO
Revenue Acceleration/Inflection
New Projects/Investments
Guidance Update
- Karoooo reported 20% subscription revenue growth and 29% operating profit in Q2, representing a 500 basis point acceleration from FY 2025's 15% growth. The company guided to 16%-21% subscription revenue growth and 26%-31% operating profit margin for FY 2026.
- The company is strategically focusing on cross-selling new products, Cartrack Tag (asset monitoring) and AI video solutions, to its existing customer base, particularly in South Africa, which generates approximately 70% of its revenue. These video solutions offer a 2-4X ARPU uplift at similar operating profit margins.
- A slight deceleration in subscriber growth (Q2 at 15%) is attributed to resource allocation towards these cross-selling initiatives, not macro headwinds or increased competition. Penetration rates for Tag and video are currently in the low single digits, indicating significant future growth potential.
- Q2 operating profit margin was around 29%, a modest 50 basis point deterioration year-over-year, primarily due to a 34% increase in sales and marketing investments to boost sales capacity and customer acquisition. Management clarified that new products like Tag and video are not margin dilutive.
Dec 3, 2025, 11:15 PM
Quarterly earnings call transcripts for Karooooo.
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