Jahez International Company for Information Systems Technology (6017) Q3 2025 earnings summary

Executive summary

• Maintained profitability in Q3 2025 despite market-wide pressure on delivery fees and aggressive promotions in a competitive environment.

• Revenue for the nine months ended 30 September 2025 was SAR 1.63 billion, nearly flat year-over-year, with net profit at SAR 113.6 million, down from SAR 122.7 million in the prior year.

• Significant improvement in average order value (AOV) to 66.8, up from 63.4 in Q3 2024.

• Non-KSA platforms regained momentum with order growth, supported by aggressive marketing and optimized merchant mix.

• Closed acquisition of Snoonu Qatar, with financial consolidation impact expected in Q4 2025 and full-year 2025.

Financial highlights

• Group GMV remained relatively stable at 1.7b in Q3 2025, with a 6% YoY increase.

• Net profit for 9M 2025 was SAR 113.6 million, down from SAR 122.7 million in 9M 2024.

• Adjusted EBITDA margin improved to 9.0% of net revenue in Q3 2025, up from 8.3% in Q3 2024.

• Gross profit for Q3 2025 was 132.3m, a 16.1% decrease YoY, with a gross margin of 24.8%.

• Cash and cash equivalents increased to SAR 1.22 billion, up from SAR 1.05 billion at year-end 2024.

Outlook and guidance

• FY 2025 guidance revised downward: GMV expected at 7.4–7.5b (prior 7.4–8.0b), net revenue at 2.2–2.4b (prior 2.6–3.0b), and adjusted EBITDA at 200–210m (prior 280–330m).

• Snoonu expected to contribute 0.6–0.7b GMV and 14–16m adjusted EBITDA in Q4 2025.

• The company expects the financial impact of the Snoonu acquisition to be reflected in full-year 2025 results.

• Guidance reflects KSA market dynamics and increased competition.