Jahez International Company for Information Systems Technology (6017) Q4 2025 earnings summary

Executive summary

• Achieved FY 2025 GMV of 7.2b, with 11% YoY growth, and net revenue of 2.3b, up 5% YoY, despite aggressive market competition and increased promotional spend.

• Non-KSA platforms, led by Snoonu, delivered strong growth, with Snoonu contributing 626.8m to Q4 GMV and 53.7m Adj. EBITDA for FY 2025.

• Group Adj. EBITDA for FY 2025 was 193m (8.3% of net revenue), reflecting margin pressure in KSA but improved profitability in non-KSA markets.

• Strategic focus on international expansion, with Snoonu as the international arm, and new market entries in Kuwait, Bahrain, and Oman.

Financial highlights

• Q4 2025 GMV reached 2.1b, up 23% YoY, driven by non-food verticals and Snoonu.

• Group net income for FY 2025 was 65.1m, down 174% YoY, impacted by impairments and one-off expenses.

• Gross profit margin for Q4 2025 was 18%, supported by ads revenue and cost optimization.

• Non-food verticals grew 91% in GMV YoY; Sol vertical up 48% YoY in Q4.

• Positive Adj. EBITDA maintained at 8.4% of net revenue in Q4.

Outlook and guidance

• FY 2026 GMV guidance: 10.1–10.8b (10–20% YoY growth); net revenue: 3.1–3.5b (7–21% YoY growth).

• Adj. EBITDA expected at 200–220m, with profitability improving sequentially and stronger H2 profile.

• Cost optimization initiatives underway to support margin expansion.

• Guidance reflects aggressive go-to-market posture with higher promotional and customer acquisition investment.