Zak Calisto’s Karooooo reports $250 million in 2025 revenue

Key Points

• Karooooo reported $249.87 million in revenue for FY 2025, an 8.61% increase, with strong momentum driven by its Cartrack subscription growth across multiple regions.
• Subscription revenue surged 15% to $222.55 million, with Cartrack contributing significantly, reinforcing Karooooo’s scalable and recurring revenue model.
• With operations in 23 countries and 2.6 million users, Karooooo continues to expand its intelligent mobility platform under CEO Zak Calisto’s strategic leadership.

Karooooo Limited, a Singapore-based mobility platform led by South African businessman Zak Calisto, delivered robust financial results for the fiscal year ending February 28, 2025, reinforcing its global leadership in physical operations management and fleet telematics.

Sustaining its momentum in the mobility and logistics sector, the company’s revenue grew by 8.61 percent, reaching R4.57 billion ($249.87 million), compared to R4.21 billion ($229.96 million) in the 2024 fiscal year, according to recently published financial results for its full year ended February 28, 2025.

Subscription revenue surges

The surge in revenue can be attributed to a 15-percent growth in subscription revenue, which rose from R3.54 billion ($193.18 million) in full-year 2024 to R4.07 billion ($222.55 million) in 2025, primarily driven by Cartrack’s subscription revenue which grew by 15 percent to R4.06 billion ($221.82 million) from R3.52 billion ($192.65 million) in the corresponding year as Cartrack continues to build on its strong track record of growing at scale.

Zak Calisto, CEO and founder of Karooooo, reaffirmed his optimism about the company’s growth trajectory, saying: “We continue to simplify decision-making for physical operations, empowering customers to optimize efficiency, safety, and compliance. The demand for digitalization in operational environments is only accelerating, and Karooooo is well positioned to meet it.”

“With a solid balance sheet, healthy cash reserves, and a proven ability to execute at scale, we are confident in our ability to deliver durable growth. Our investments in AI, platform innovation, and customer experience are key drivers of our long-term success,” added Calisto, one of South Africa’s wealthiest entrepreneurs.

Karooooo continues to shine under Calisto

Karooooo, which was established by Calisto in 2001 with a focus on stolen car recovery services in South Africa, now manages Cartrack, a wholly-owned subsidiary providing real-time mobility data analytics solutions for intelligent transportation.

Under Zak Calisto’s leadership, the company has become a leading provider of intelligent transportation management and analytics, serving customers in 23 countries across five continents and supporting over 2.6 million users worldwide as of its latest report.

Karooooo’s assets and retained earnings surge

The company’s impressive financial performance has led to the expansion of its total assets from R4.31 billion ($237.57 million) as of February 29, 2024, to R5.08 billion ($278.08 million) as of February 28, 2025, while retained earnings also increased by 15.25 percent to R1.80 billion ($98.63 million) from R2.11 billion ($115.63 million).

Leveraging a proven and profitable business model, competitive advantages, and a robust financial position, Karooooo remains confident in its ability to maintain its growth and generate strong cash flows in the foreseeable future. The company’s strong performance in fiscal year 2025 underscores its growth potential and solidifies its position as a key player in the global intelligent transportation management and analytics industry.