| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 12,910,862 | 11,497,622 | 12.291 | 18,670,248 | -30.847 |
| Gross Profit (Loss) | 5,668,383 | 5,342,153 | 6.106 | 13,426,967 | -57.783 |
| Operational Profit (Loss) | -3,261,001 | -2,194,074 | 48.627 | -9,645,721 | -66.192 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | -3,298,662 | -2,156,780 | 52.943 | -10,086,294 | -67.295 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | -3,298,662 | -2,156,780 | 52.943 | -10,195,445 | -67.645 |
| All figures are in (Actual) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Shareholders Equity (after Deducting Minority Equity) | 101,949,543 | 122,820,551 | -16.993 |
| Profit (Loss) per Share | -0.03 | -0.02 | |
| All figures are in (Actual) Saudi Arabia, Riyals | |||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| Accumulated Losses | -21,454,987 | 21 | |
| All figures are in (Actual) 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 | The increase in sales during the current quarter compared to the same quarter of the previous year by 12.29% is due to: - Increased revenues from government projects. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | The 52.94% increase in net loss during the current quarter compared to the same quarter of the previous year is due to: - 30.44% increase in general and administrative expenses for subsidiary startups. - 194.8% increase in financing costs in the current quarter compared to the same quarter of the previous year. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | The 30.84% decrease in revenue during the current quarter compared to the previous quarter is due to: - Decline in sales of commercial sector systems |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | The decrease in net loss during the current quarter compared to the previous quarter by 67.29% is due to: - decrease in total selling and marketing expenses, as well as general and administrative expenses, in the current quarter compared to the previous quarter by 61.29% |
| 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) | The Group’s condensed consolidated interim financial statements as of March 31, 2025, and for the three-month period ended March 31, 2025, excluding the adjustments contained in Note 20, were examined by another auditor who issued a modified opinion on those condensed consolidated interim financial statements on May 15, 2025. Material Uncertainty Regarding Going Concern We draw attention to Note 1 to the condensed consolidated interim financial statements, which indicates that the Group incurred a net loss of SAR 3.3 million for the three-month period ended March 31, 2025. In addition, the Group’s current liabilities exceeded its current assets, resulting in a working capital shortfall of SAR 30.5 million as of that date. These circumstances indicate a material uncertainty that may cast doubt on the Group’s ability to continue as a going concern. As explained in Note 1, management has conducted a going concern assessment of the Group’s ability to continue as a going concern, and accordingly, these condensed consolidated interim financial statements have been prepared on a going concern basis. Our conclusion in this regard is not modified. Conclusion: Based on our review, nothing has come to our attention that causes us to believe that the accompanying condensed consolidated interim financial statements for the three-month period ended March 31, 2026, are not prepared, in all material respects, in accordance with International Accounting Standard (IAS) 34, “Interim Financial Reporting,” as adopted in the Kingdom of Saudi Arabia. |
| Reclassification of Comparison Items | We would like to draw attention to Note 20 to the condensed consolidated interim financial statements, which indicates that the comparative information presented for the three-month period ended March 31, 2025, has been restated. Our conclusion regarding this matter is not modified. |
| Additional Information | - A provision for impairment of intangible assets was established in the previous quarter amounting to SAR 4,535,619. - A provision for impairment of accounts receivable was established in the previous quarter amounting to SAR 2,861,810. - A provision for impairment of accounts receivable was established in the current quarter amounting to SAR 279,165. This resulted in an increase in the company's accumulated losses during the period. |
