Elm wins contract from SASO

Logo of Elm Co.

Elm Co. said it was awarded today, July 22, a contract by the Saudi Standards, Metrology and Quality Organization (SASO) to develop and operate the product safety system for regulated products.

The company's expected revenue during the term of the contract is approximately 15% of its total revenues, according to the audited annual financial statements for 2025, Elm said in a statement to Tadawul.

The value of the revenue-sharing contract is linked to the number of transactions executed and does not include a fixed total amount.

The contract includes the development of an integrated digital platform that forms the system's technical infrastructure, along with the execution of other operational tasks.

The contract duration is five years, the statement said.

Elm said there is no legal or financial obligation towards the company during this stage unless the contract is signed. Any material developments will be announced in due course.

According to data available with Argaam, Elm’s 2026 revenues amounted to SAR 9.46 billion, of which 15% represents SAR 1.42 billion.