Riyadh — Mubasher: Rasan Information Technology Company reported a 93.40% year-on-year (YoY) surge in net profit to SAR 284.10 million for the first nine months of 2026, according to a bourse disclosure.
The company’s financial performance was bolstered by a 63.88% increase in revenue, which reached SAR 818.60 million in 9M-26 compared to SAR 499.50 million in the corresponding period of 2025.
Operating efficiency improved during the nine-month period that ended on 30 September 2026, with operating profit soaring by 95.94% to SAR 289.40 million.
The company attributed the results to a growing customer base, the introduction of new products, and seasonal peaks in individual motor insurance.
Gross profit for the period stood at SAR 550.30 million, representing a margin of 67.20% compared to 62.40% in the previous year.
Earnings per share (EPS) rose to SAR 3.70 in 9M-26 from SAR 1.94 in 9M-25.
For the third quarter (Q3) of 2026, Rasan generated 34.02% higher net profit at SAR 109.90 million.
Quarterly revenue reached SAR 301.10 million, a 40.31% increase over the same quarter last year, marking the highest quarterly revenue in the group's history.
The revenue growth was primarily driven by a 105% increase in leasing vehicle insurance revenues to SAR 340 million and a 34% rise in retail vehicle insurance revenues to SAR 331 million.
