Almasar Alshamil Education (6019) Q3 2026 earnings summary

Executive summary

• 9M revenue was SAR 405,515k and net profit SAR 106,797k; Q3 recorded a net loss of SAR 24,854k amid summer-break seasonality.

• 9M adjusted EBITDA increased 37% to SAR 178.7m and adjusted net profit rose 36% to SAR 109.0m; students and beneficiaries grew 21% to 28.9k.

• Upcoming academic-year registrations reached 32k, up 14% YoY.

Financial highlights

• 9M revenue was SAR 405,515k vs SAR 336,023k; gross profit was SAR 169,667k vs SAR 132,322k.

• 9M net profit was SAR 106,797k vs SAR 83,624k; attributable profit was SAR 93,288k vs SAR 70,857k.

• Q3 revenue was SAR 54,504k vs SAR 47,913k; operating loss was SAR 24,718k vs SAR 22,449k.

• 9M adjusted EBITDA was SAR 178,734k vs SAR 130,312k; adjusted profit attributable to equity holders was SAR 95,442k vs SAR 67,273k.

• Q3 adjusted EBITDA loss narrowed to SAR 2.5m from SAR 6.9m; adjusted net loss attributable to equity holders improved 3% to SAR 22.0m.

Outlook and guidance

• Management expressed a positive outlook for Q4 2026 and the remainder of the academic year, citing enrollment resilience and continued execution of growth initiatives.

• Q3 revenue and operating results are typically lower during the summer break; interim results are not necessarily indicative of FY 2026 performance.

• IFRS 18 is expected to affect classification, presentation and disclosures from 2027, but not net profit or net assets; assessment remains ongoing.