Karooooo (KARO) shares fell as much as 9% at the Tuesday open and were still down 2.1% by late morning, even though fiscal 2027 second-quarter revenue rose 22% year over year to $101.8 million. Fleet telematics unit Cartrack hit a record $90 million in revenue (up 20%), while the logistics segment grew 36% to $11.8 million. EPS rose 18% to $0.58 but fell short of investor expectations despite record operating profit. Subscription revenue climbed 31% to $88 million, total subscribers rose 18% to 2.9 million, and Cartrack's annual recurring revenue (ARR) grew 30% to $354 million with a 95% retention rate. The regulatory filing shows management bought extra vehicle-tracking devices and memory chips in anticipation of higher prices, which weighed on short-term profit but should lower costs later; the article notes the stock trades at 25 times forward earnings.
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