Rasan (8313) investor relations material

Executive summary

• Achieved record quarterly revenue of 261 million SAR in Q1 2026, up 117% year-over-year, with broad-based growth across all business lines and product lines.

• Adjusted EBITDA reached 115 million SAR (44% margin), up 219% year-over-year, reflecting operational leverage and product diversification.

• Adjusted net profit rose 220% year-over-year to 103 million SAR, while reported net profit increased 194% to 88 million SAR.

• Product and technology enhancements included AI augmentation, expanded distribution, and reinforced tech resilience.

• The interim financials received an unqualified review conclusion from the independent auditor.

Financial highlights

• Gross written premium (GWP) totaled 2.7 billion SAR, up 57% year-over-year, with strong contributions from Motor Retail, Motor Leasing, and Health.

• Gross profit increased to 186 million SAR, maintaining a stable gross margin of 71.2% year-over-year.

• Revenue increased 22% sequentially from Q4 2025, despite seasonal effects.

• Cash and cash equivalents at quarter-end were 756.5 million SAR, up from 740.9 million SAR at year-end 2025.

• Shareholders’ equity increased to 821.8 million SAR from 705.4 million SAR at year-end 2025.

Outlook and guidance

• FY2026 revenue guidance reaffirmed at 900–975 million SAR, representing 38–49% year-over-year growth.

• Gross margin guidance for FY2026 set at 70.0–72.0%, with adjusted EBITDA margin expected between 41.0–46.0%.

• Management notes that Q1 results are not necessarily indicative of full-year performance.

• Ongoing monitoring of regional geopolitical risks is in place, with no material impact as of the reporting date.

• Focus remains on accelerating growth, expanding insurtech and fintech solutions, and supporting Saudi Vision 2030.