Jahez International Company for Information Systems Technology (6017) Q1 2026 earnings summary

Executive summary

• Achieved market share gains in KSA through strategic marketing and promotions, with order stabilization despite Ramadan seasonality.

• Upgraded app interface and backend systems to enhance customer experience and operational efficiency.

• Snoonu (Qatar) remains the main growth engine, driving strong GMV and multi-vertical expansion; international launches in Kuwait and Bahrain underway.

• Report covers the three-month period ended 31 March 2026, reviewed by KPMG with no material misstatements found.

• Group operates delivery platforms, logistics, and related technology services across GCC, with recent expansion via acquisitions.

Financial highlights

• Group GMV reached 2.3b in Q1 2026, up 8% YoY and 3% QoQ, driven by Snoonu consolidation.

• Revenue rose to SAR 725.1 million, up 38% year-over-year from SAR 526.0 million.

• Adjusted EBITDA increased 87.6% YoY to 8.5 million, with margin rising to 8.1%.

• Group net income was negative at -48.6 million, a decline from -9.2 million in Q1 2025.

• Cash and cash equivalents at period end were SAR 510.7 million, up from SAR 428.4 million at year-end 2025.

Outlook and guidance

• FY 2026 GMV guidance: 10.1–10.8b, representing 10–20% YoY growth.

• Net revenue guidance: 3.1–3.5b, up 7–21% YoY.

• Adj. EBITDA guidance: 200–220m for FY 2026.

• Guidance reflects aggressive go-to-market strategy with higher promotional and customer acquisition investments.

• Management continues to monitor regional geopolitical risks, with no material impact yet but ongoing assessment.