National Medical Care Co. announces its Interim Financial results for the Period Ending on 2026-03-31 ( Three Months )

- A 9% year-on-year increase in total patient count, reaching 248,224 patients. The growth reflects a 9% rise in outpatient visits and a 16% increase in inpatient admissions.

- A 21% year-on-year increase in insurance revenue, as well as strong growth at newer facilities including Al Haram and ReLib, whose revenues more than doubled year-on-year.

- The pharmaceuticals segment delivered solid growth of 9% year-on-year to SAR 47 million, providing an additional positive top-line contribution.

Revenue growth was, however, tempered by the full impact of Ramadan and Eid holidays falling entirely within 1Q 2026, that impacted GOSI volumes, which drove a shift in case mix, compressing revenue per patient

- Case mix and payor mix shifts during Ramadan and Eid, with activity weighted toward lower-paying segments, reducing revenue per patient.

- Cost of revenues increased 9% year-on-year to SAR 265 million, mainly driven by continued investment in the Group’s staff.

- Higher operating expenses, up 30% year-on-year to SAR 60 million, driven by higher general and administrative costs from expanded operations and a higher ECL charge of SAR 5.8 million compared to a reversal of SAR 3.5 million during the prior year quarter due to slower payor settlement activity.

- Seasonal case and payor mix shifts, leading to lower revenues and margin compression.

- Higher G&A expenses, reflecting expanded operations.

- A swing in ECL provisions from a SAR 0.9 million reversal in 4Q 2025 to a SAR 5.8 million charge in 1Q 2026, reflecting slower payor settlement activity.

- Higher interest costs of SAR 4.3 million versus SAR 1.3 million in 4Q 2025, mainly reflecting drawdowns on credit facilities to fund Al Narjis Hospital development and an increase in leased assets following the long-term IFRS 16 radiology equipment agreement with Siemens.