Jahez International Company for Information Systems Technology (6017) Q1 2025 earnings summary

Executive summary

• Achieved record monthly order levels in KSA with 11% YoY order growth and 13% YoY GMV growth, despite Ramadan seasonality.

• Revenue for Q1 2025 reached SAR 525.96 million, up 9.4% YoY, driven by delivery fees, commissions, and advertising revenue.

• Net profit attributable to shareholders was SAR 35.32 million, a significant increase from SAR 12.45 million in Q1 2024.

• Jahez Retail GMV doubled YoY, driven by new product introductions and merchant growth.

• Advertising revenue surged 93% YoY, supported by expanded ad inventory and new ad formats.

Financial highlights

• Group GMV reached SAR 1.6b in Q1 2025, up 11% YoY; net income rose to SAR 35.32m, a 2.8x increase YoY.

• Adjusted EBITDA grew 2.3x YoY to SAR 51.1m, with margin improving to 9.7% of net revenue.

• Gross profit increased 31.7% YoY to SAR 126.0m, with gross margin up 4.1 percentage points to 24.0%.

• Net revenue for Q1 2025 was SAR 526.0m, up 9.4% YoY.

• Cash and cash equivalents stood at SAR 1.00 billion at quarter-end.

Outlook and guidance

• FY 2025 GMV guidance maintained at SAR 9.8b–10.8b; net revenue expected at SAR 2.6b–3.0b; Adj. EBITDA guidance at SAR 280m–330m.

• Q1 actuals tracking in line with full-year targets, reflecting robust operational execution.

• Results for Q1 2025 are not necessarily indicative of full-year performance.