Jahez International Company for Information Systems Technology (6017) Q3 2026 earnings summary

Executive summary

• Q3 2026 GMV rose 45.2% YoY to SAR 2.43bn and net revenue rose 40.4% to SAR 748.5m, mainly reflecting Snoonu consolidation; adjusted EBITDA improved sharply QoQ to SAR 41.3m.

• Profitability strengthened in KSA as promotional spending and delivery costs eased, while international rollout costs and Kuwait’s regulatory changes weighed on results.

Financial highlights

• Q3 orders increased 33.1% YoY to 34.7m and AOV rose 9.1% to SAR 70.2; QoQ, GMV declined 3.4% and orders declined 4.7%.

• Q3 gross profit grew 8.1% YoY to SAR 143.0m; gross margin fell to 19.1% from 24.8% YoY but rose from 18.0% in Q2.

• Adjusted EBITDA was SAR 41.3m in Q3, down 35.5% YoY but up from SAR 22.5m in Q2; attributable net loss narrowed to SAR 1.9m from SAR 17.4m in Q2.

• 9M net revenue rose 37.5% to SAR 2.24bn; adjusted EBITDA fell 28.9% to SAR 107.4m and attributable net result was a SAR 28.5m loss versus SAR 121.5m profit.

Outlook and guidance

• Priorities include improving operating efficiency, calibrating marketing to support sustainable KSA growth, and directing investment toward markets with attractive long-term returns.

• Snoonu launched in Muscat in early Q4 2026 after entering four other Omani cities; Kuwait’s operating model is under review following regulatory changes.