WSM receives purchase order to execute government contract

Logo of WSM Information Technology Co.

WSM Information Technology Co. received a purchase order on Aug. 7 to execute a portion of the agreement signed with a government entity.

In a statement on Tadawul, the company said the value of the purchase order exceeds 15% of its 2024 revenue.

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The company clarified that while the framework agreement itself does not entail any associated costs, this specific purchase order includes related expenses.

According to data available with Argaam, WSM signed the framework agreement with the government entity in July. The contract entails the provision of services and works based on purchase orders, with a total value of SAR 500 million.

It is worth noting that the company reported revenue of SAR 29 million by the end of 2024.