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KAROO000 SINGAPORE ( October 14 , 2021 ) - Karooooo Ltd. ( " Karooooo " ) , that owns 100 % of Cartrack Holdings ( “ Cartrack ” ) , today reported results for the second quarter of its 2022 financial year ( " 2022 " ) and Half - Year ( “ HY " ) , ended August 31 , 2021 . " We delivered consistent growth in the second quarter of 2022. Our growth momentum in the number of subscribers continued , translating into 20 % growth in revenue in the second quarter of 2022 , compared to the second quarter of our 2021 financial year ( " 2021 " ) . Despite the ongoing pandemic , the social unrest experienced in South Africa in July 2021 and the currency headwinds , total revenue increased 24 % on a constant currency basis ( a non - IFRS measure ) . Our efforts and focus are to strategically build the leading mobility SaaS platform that maximizes the value of data . As the world evolves at pace , we believe that connectivity is the future and we now think beyond connected vehicles . We are investing for tomorrow in establishing a leading end - to end all - inclusive mobility platform . We believe that there is a significant economic upside to the large data pool that we have built and continue to build . We contextualize billions of data points on a daily basis and contribute significant value to the day - to - day operations of our customers . Further , we believe that there is significant untapped network effect value for other much needed related services given the size of our subscriber base . Exhibit 99.1 Despite the significant strengthening of the South African Rand ( ZAR ) in the first half of 2022 compared to the first half of 2021 , which negatively impacted revenue earned given that we report in ZAR , we are delighted that our growth expectations for 2022 remain unchanged . " Zak Calisto , CEO and Founder . Karooooo Ltd. Announces Second Quarter and Half - Year 2022 Unaudited Financial Results Second Quarter 2022 Highlights : ( All comparisons relative to the Second Quarter 2021 ) SCALE Karooooo's strong growth momentum in the number of subscribers continues . Despite the disruption in sales caused by the social unrest experienced in July 2021 in South Africa and the global effects of the pandemic , our business model drove new customer additions , delivering growth in the total number of subscribers . ● 1,408,609 subscribers in total as of August 31 , 2021 , up 20 % ( Q2 2021 : 1,175,173 ) Net subscriber additions increased 1 % to 42,139 ( Q2 2021 : 41,626 ) GROWTH Total revenue increased 20 % to ZAR659 million ( Q2 202 1 : ZAR551 million ) Total revenue increased 24 % on a constant currency basis ( a non - IFRS measure ) Subscription revenue increased 16 % to ZAR628 million ( Q2 2021 : ZAR542 million ) Subscription revenue increased 21 % on a constant currency basis ( a non - IFRS measure ) ● In ZAR , Annualized Recurring Revenue ( “ ARR ” ) , a non - IFRS measure , increased 15 % to ZAR2,540 million as at August 2021 ( August 2020 : ZAR2,213 million ) . In US Dollars ( " USD " ) , ARR , a non - IFRS measure , increased 34 % to USD 175.1 million ( August 2020 : USD130.8 million ) .