Rasan Information Technology 1H Results: Net Profit Up 158%
Rasan Information Technology reported SAR 517 million revenue for 1H 2026, up 111% YoY. Adjusted net profit jumped 158% to SAR 216 million, driven by a 45.6% EBITDA margin and strong growth in motor and health verticals.
*this image is generated using AI for illustrative purposes only.
Rasan Information Technology Company (Tadawul: 8313) reported robust financial performance for the first half of 2026, with revenue more than doubling to SAR 517 million, up 111% year-on-year. The Saudi Insurtech and Fintech platform delivered an adjusted net profit of SAR 216 million, a 158% increase, underscoring significant operating leverage as top-line growth outpaced cost expansion. This performance signals strong execution across its digital insurance and leasing platforms amid the Kingdom’s ongoing financial sector transformation.
The company’s gross written premiums (GWP) surged 53% to SAR 5.4 billion, reflecting deepening penetration in the insurance market. Reported net profit stood at SAR 174 million, up 168% year-on-year. Gross profit reached SAR 358 million, up 103%, maintaining a gross margin of 69.2%. These figures highlight the scalability of Rasan’s capital-light business model.
Financial Performance Highlights
| Metric | 1H 2026 Value | YoY Change | Margin |
|---|---|---|---|
| Revenue | SAR 517 million | +111% | — |
| Gross Profit | SAR 358 million | +103% | 69.2% |
| Adjusted EBITDA | SAR 236 million | +156% | 45.6% |
| Adjusted Net Profit | SAR 216 million | +158% | 41.7% |
| Reported Net Profit | SAR 174 million | +168% | — |
| Gross Written Premiums | SAR 5.4 billion | +53% | — |
Operating leverage was a key driver of profitability, with adjusted EBITDA margin expanding by 8.0 percentage points to 45.6%. Adjusted net profit margin also improved by 7.5 percentage points to 41.7%, supported by a conservative, debt-free balance sheet. The company continued to broaden its revenue base through new product launches, including Motor SME during the quarter.
What the Numbers Show
The divergence between revenue growth (111%) and adjusted net profit growth (158%) illustrates the efficiency gains within Rasan’s platform. As fixed costs remain stable while transaction volumes double, margins expand disproportionately. This pattern is typical of mature tech platforms achieving scale, but the speed of this transition—within a single six-month period—suggests rapid adoption of its Tameeni insurance aggregator and Treza leasing services.
Nicola Garelli, Acting Chief Executive Officer of Rasan, attributed the results to the power of the company’s platform model. “Our first-half results demonstrate the power of Rasan’s 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,” Garelli said. He noted that Motor Retail, Motor Leasing, and Health verticals all delivered strong growth, while newer segments are scaling rapidly.
Rasan operates digital platforms including Tameeni, Saudi Arabia’s leading insurance aggregator, and Treza, a digital motor leasing platform. The company partners with insurance companies and financial institutions to deliver technology-driven solutions. Its strategy aligns with Saudi Vision 2030, focusing on financial inclusion and digital transformation. Management stated that Rasan enters the second half of 2026 focused on extending its market leadership.
How might Rasan's rapid scaling of the Tameeni and Treza platforms impact competitive dynamics among traditional insurers and leasing companies in Saudi Arabia?
What specific regulatory or technological hurdles could emerge as Rasan expands its market share in the digital insurance aggregator space during the second half of 2026?
To what extent can Rasan sustain its current 45.6% adjusted EBITDA margin as it integrates newer, less mature segments like Motor SME into its revenue base?
15
Create Custom Screeners 
Access 200+ Pre-built Filters 
Use 50+ Readymade Screener 
