Cartrack revenue and subscribers surge in South Africa

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The company’s subscription revenue, which makes up 98% of total revenue, rose 19% to R2.3bn, while its subscriber base grew 15% to more than 2.4 million users. Overall group revenue reached R2.62bn, with profit up 17% to R517m.

Cartrack attributed its growth to strong local demand for digital fleet management solutions, driven by businesses seeking improved operational efficiency, cost savings, and enhanced safety.

The company also invested in infrastructure, headcount, and AI-enabled products to support expansion and service improvements.

Operating profit rose 18% to R708m, while earnings per share increased 17% to R16.43, reflecting Cartrack’s ability to maintain profitability while scaling its subscription-based model.

Looking ahead, the company said it remains well-positioned to expand further in South Africa’s underpenetrated fleet management market, leveraging its strong balance sheet and subscription-driven business model.