Jahez International Company for Information Systems Technology (6017) Q2 2026 earnings summary

Executive summary

• Q2 2026 saw accelerated market share recovery in KSA, driven by targeted promotions and improved customer retention, while international growth was led by Snoonu, especially in Qatar and Oman.

• Revenue for the six-month period ended 30 June 2026 reached SAR 1.49 billion, up from SAR 1.09 billion year-over-year, driven by growth in commissions, delivery fees, and new business lines.

• Strategic marketing and platform enhancements resulted in 20% QoQ order growth in KSA, double the market rate.

• The group expanded its logistics and international delivery platforms, including the acquisition of Snoonu Corporation Holding LLC in Qatar.

• Product innovation included a new loyalty program, backend improvements, and expanded features across platforms.

Financial highlights

• Group GMV grew 11.9% QoQ, with KSA commission revenue up 19.2% QoQ and take rate exceeding 16%.

• Group Adj. EBITDA for Q2 2026 was SAR 22.5m, down from SAR 35.9m in Q2 2025, with margin at 2.9% of net revenue.

• Net income attributable to shareholders was SAR (17.4)m for H1 2026, compared to SAR 23.6m in H1 2025.

• Gross profit for the six months was SAR 306.4 million, up from SAR 245.3 million year-over-year.

• Cash position increased to SAR 436m by March 2026, supported by positive operating cash flows.

Outlook and guidance

• FY 2026 guidance revised: GMV expected at SAR 10.1–10.8b (10–20% YoY growth), Net Revenue SAR 3.1–3.5b (7–21% YoY growth), Adj. EBITDA SAR 180–200m.

• Market share expansion to continue in H2 2026 across all markets, with revised strategy for Kuwait due to regulatory changes.

• Management continues to monitor regional geopolitical developments, with no material impact on the current period but ongoing assessment for future risks.

• The group is preparing for IFRS 18 adoption in 2027, which will affect financial statement presentation and disclosures.