| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 261 | 120.5 | 116.597 | 213.7 | 22.133 |
| Gross Profit (Loss) | 185.9 | 85.8 | 116.666 | 153.2 | 21.344 |
| Operational Profit (Loss) | 93.3 | 29.8 | 213.087 | 93.3 | - |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 88.3 | 30 | 194.333 | 89.5 | -1.34 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 90.3 | 30 | 200.999 | 90.3 | - |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Shareholders Equity (after Deducting Minority Equity) | 821.8 | 450.5 | 82.419 |
| Profit (Loss) per Share | 1.16 | 0.39 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is | Revenue in Q1 2026 increased by 117% compared to Q1 2025, driven by the launch of new products and continued growth across the Company’s existing offerings. This was supported by the ongoing shift toward comprehensive policies as well as the run-rate impact from renewals of customers onboarded during 2025 in the motor leasing segment. This growth was further supported by the expansion of the health segment, driven by continuous product innovation and increased digital adoption, in addition to the scaling and initial revenue contribution from recently launched products, including Domestic Helper Contract insurance. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | Net profit for Q1 2026 increased by more than threefold compared to Q1 2025, driven by the following: • Strong revenue growth, with revenue increasing by 117% compared to Q1 2025. • An increase in operating profit by 213% compared to Q1 2025, supported by improved operational efficiency driven by continued business scale, resulting in an increase in the operating profit margin to 35.8% compared to 24.7% in Q1 2025. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | Revenue in Q1 2026 increased by 22% compared to Q4 2025, primarily driven by the impact of recently launched products, along with continued growth and expansion across the Company’s offerings and enhancements to the delivery and sales channels. This increase came despite the typical seasonal softness pattern of the Company’s revenues and earnings in the first quarter alongside the impact of seasonal holidays, underscoring the broadening revenue base and the early traction from recently launched products. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | Net profit for Q1 2026 reached SAR 88.3 million, compared to SAR 89.5 million in Q4 2025, representing a slight quarter-on-quarter decline of around 1%. This performance marks a notable improvement compared to the company’s historical earnings pattern and seasonality, where the first quarter typically records a decline relative to the fourth quarter. The previous year saw a decline of approximately 25% between Q1 2025 and Q4 2024. This reflects strong operating momentum during the quarter, an expanding sales base, and the impact of newly introduced services. This performance was achieved despite the following: • Completion of the second-year employee share allocation under the Employee Stock Ownership Program (ESOP), with the related costs being recognized. • An increase in Expected Credit Loss (ECL) provision during Q1 2026, driven by business expansion alongside stronger-than-expected revenue growth. These balances are expected to be collected, with the associated provision to be reversed in future periods, in line with the operating nature of the business. • The investment in the development of new products to be launched in upcoming periods, alongside intensified marketing campaigns for recently launched products, in line with the company’s seasonal sales cycle. |
| Statement of the type of external auditor's report | Unmodified conclusion |
| Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) | NA |
| Reclassification of Comparison Items | NA |
| Additional Information | The attached document includes an adjusted profit margin after excluding non-cash expenses of SAR 14.7 million related to the employee stock program (Long-Term Incentive Plan) for the three month period ended 31 March 2026. Accordingly, the company’s adjusted net profit for the three month period ended 31 March 2026 amounts to SAR 103 million, compared to SAR 32 million for the same period in 2025, representing a growth of 220% |
| Attached Documents | Attached Documents Attached Documents Attached Documents |
