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Karooooo
Karooooo (KARO) investor relations material
Karooooo Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary21 Jan, 2026
Executive summary
SaaS ARR grew 22% year-over-year to ZAR 5,106 million (USD $298 million), with USD ARR growth accelerating to 28% and record net subscriber additions of 111,000, bringing total subscribers to 2.6 million, up 16% year-over-year.
Subscription revenue rose 20% year-over-year to ZAR 1,239 million, and operating profit increased 14% to ZAR 369 million.
Adjusted EPS increased 11% to ZAR 8.55, and adjusted EBITDA margin reached 45%.
Achieved fourth consecutive quarter of ARR growth acceleration, with strong performance across all regions.
Significant upfront investments in sales and marketing are driving future recurring revenue and earnings.
Financial highlights
Q3 total revenue increased 22% year-over-year to ZAR 1,410 million; subscription revenue up 20% to ZAR 1,239 million, comprising 97% of total revenue.
Operating profit rose 14% to ZAR 369 million; adjusted earnings per share increased 11% to ZAR 8.54.
Adjusted free cash flow up 28% in Q3 to ZAR 239 million; year-to-date up 37% to ZAR 597 million.
Net cash and cash equivalents at quarter-end were ZAR 531 million as of November 30, 2025.
Paid a cash dividend of $38.6 million (or $1.25 per share) in August 2025.
Outlook and guidance
FY 2026 Cartrack subscription revenue outlook raised to ZAR 4,785–4,900 million (18–21% growth).
Cartrack operating profit margin outlook revised to 27–30%.
FY 2026 adjusted EPS guidance unchanged at ZAR 32.50–35.50.
Ongoing investment in sales capacity, AI, and platform capabilities expected to drive subscriber and ARPU growth in FY 2027.
LTV/CAC ratio vs. S&M expense growth?
ARPU's role in future subscription revenue growth?
Mitigate Africa (excl. SA) subscriber decline?
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Next Karooooo earnings date
Q4 202615 May, 2026
Karooooo
Next Karooooo earnings date
Q4 202615 May, 2026
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Frequently asked questions
Karooooo Ltd., through its subsidiaries, develops automaton-based software platform for managing connected vehicles, such as for fleet operators. The company's platform provides vehicle connectivity, intelligence in connected cars, fleet management and real-time data management for fleet operators and vehicle manufacturers. Karoo's platform enables the management and control of all aspects of connected vehicles, from the collection of data to the usage of various mobility services. Karooooo Ltd. was founded in 2001 and is headquartered in Singapore.
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