Rasan (8313) Q1 2025 earnings summary

Executive summary

• Revenue for Q1 2025 reached SAR 121 million, an 80% year-over-year increase.

• Adjusted EBITDA expanded by 198% year-over-year to SAR 41 million, with a margin of 34%.

• Adjusted net profit surged 286% year-over-year to SAR 37 million.

• Net income for the period was SAR 30 million, up from SAR 9.5 million in Q1 2024.

• Launched and prepared several new insurance products, including medical malpractice, travel, and domestic helper insurance.

Financial highlights

• Gross profit for Q1 2025 was SAR 86 million, up 116% year-over-year, with gross margin improving to 71%.

• Adjusted EBITDA reached SAR 41 million, up 198% year-over-year, with a margin of 34%.

• Adjusted net profit was SAR 37 million, up 286% year-over-year, with a margin of 31%.

• Operating cash flow was SAR 84.6 million, up over 320% year-over-year.

• Cash and cash equivalents at period end were SAR 527.7 million, up from SAR 451 million at year-end 2024.

Outlook and guidance

• Preparing to launch new products in life insurance, extended warranty, and financial services.

• Continued focus on product innovation, digital distribution, and expanding into new financial services segments.

• Management notes that Q1 results are not necessarily indicative of full-year 2025 performance.