Cartrack targets 1-million subscribers in next year
CEO Zak Calisto says Cartrack is seeing demand for its solutions from both corporations and consumers in SA and global markets
Vehicle tracking and fleet management specialist Cartrack Holdings is confident of locking in more than 1-million subscribers in its next financial year. Reporting interim results to end August on Wednesday, Cartrack CEO Zak Calisto said the group was still seeing demand for its solutions from both corporations and consumers in SA and its global markets. In the interim period Cartrack grew its subscriber base 28% to 849,772 — representing an acceleration in the 21% compound growth rate in subscribers notched up over the past six years. Calisto said the robust performance was driven mainly by the surge in demand from business for Cartrack’s Software-as-a-Service platform and its ability to process data.
He noted the growth boded well for future revenue generation —with 73% of the subscriber base joining Cartrack in the past 36 months. “By the end of this financial year to end-February 2019, there is an outside chance we will break the 1-million subscriber mark. But I’m 100% cer...