Broad-Based Growth Across All Verticals Underscores Platform Strength and Operating Leverage
Rasan Information Technology Company (Tadawul: 8313), the leading Insurtech and Fintech platform in the Kingdom of Saudi Arabia, today announced its financial results for the first half of 2026, reporting sustained growth momentum, strong profitability, and broad-based growth across every vertical.
Financial Highlights:
- Revenue: SAR 517 million, up 111% YoY – more than doubling versus 1H 2025
- Gross Profit: SAR 358 million, up 103% YoY, with gross margin of 69.2%
- Adjusted EBITDA: SAR 236 million, up 156% YoY, with margin expanding to 45.6%
- Adjusted Net Profit: SAR 216 million, up 158% YoY, with margin reaching 41.7%
- Reported Net Profit: SAR 174 million, up 168% YoY
- Gross Written Premiums (GWP): SAR 5.4 billion, up 53% YoY
Business Performance:
Rasan’s performance in the first half of 2026 reflected broad-based execution across its verticals, with Motor Retail, Motor Leasing, and Health all delivering strong growth. The Company continued to develop its platform, including the launch of Motor SME during the quarter, while more recently launched products further broadened the revenue base, underscoring the depth and diversity of Rasan’s platform.
Strong Operating Leverage:
Adjusted EBITDA margin expanded by 8.0 percentage points to 45.6%, reflecting significant operating leverage as revenue growth materially outpaced cost growth. Adjusted net profit margin reached 41.7%, up 7.5 percentage points, supported by Rasan’s capital-light model and conservative, debt-free balance sheet.
Company Commentary:
“Our first-half results demonstrate the power of Rasans’ platform model, with revenue more than doubling year-on-year and adjusted EBITDA rising 156% at a 46% margin – clear evidence of the operating leverage embedded in Rasan’s capital-light business,” said Nicola Garelli, Acting Chief Executive Officer of Rasan. “Motor Retail, Motor Leasing, and Health all delivered strong growth and the newer verticals are scaling rapidly. Rasan enters the second half focused on extending its leadership and advancing its part in Saudi Vision 2030.”
