Rasan (8313) Q2 2025 earnings summary

Executive summary

• Achieved significant growth post-IPO, with revenue nearly doubling and adjusted EBITDA tripling compared to pre-IPO levels.

• Launched 7 new products and expanded into multiple insurance verticals, driving diversification.

• Strengthened technology infrastructure and user experience, deploying AI models internally.

• Formed over 50 new commercial and strategic partnerships, supporting sector development.

• Report covers unaudited interim condensed consolidated financials for the three- and six-month periods ended 30 June 2025, prepared in accordance with IAS 34 as endorsed in Saudi Arabia.

Financial highlights

• H1 2025 revenue reached SAR 245 million, up 88% year-over-year.

• Gross profit rose 127% YoY to SAR 176 million, with margin improving from 59.4% to 72.0%.

• Adjusted EBITDA increased 218% YoY to SAR 92 million, margin up to 37.6%.

• Adjusted net profit surged 357% YoY to SAR 84 million, with net profit margin at 34.2%.

• Cash and cash equivalents increased to 534.4 million as of 30 June 2025, from 451.0 million at 31 December 2024.

Outlook and guidance

• FY 2025 revenue guidance: SAR 590–625 million, representing 65–75% YoY growth.

• Gross profit margin expected between 68–70% for FY 2025.

• Adjusted EBITDA margin guidance set at 32–35%.

• Growth to be driven by product innovation, regulatory support, and increased protection demand.

• Results for the interim period are not necessarily indicative of full-year performance for 2025.