CNTXT revenue quadruples in 3 years; focus on growth, expansion

Raafat Sindi, Chief Revenue Officer at CNTXT

Raafat Sindi, Chief Revenue Officer at CNTXT, said the company’s revenue has grown more than fourfold over the past three years, driven by accelerating demand for cloud services in Saudi Arabia as well as the expansion of its business.

In an interview with Argaam, Sindi said the company’s revenue mix has begun to shift, noting that the resale of Google Cloud services accounted for the bulk of revenue during its early years. Meanwhile, professional services and CNTXT’s proprietary products are now making an increasing contribution to growth.

He said the company is currently focused on growth rather than short-term profitability, explaining that it is investing in market expansion, building specialized capabilities, and increasing the contribution of value-added services and proprietary technologies.

CNTXT currently serves more than 400 corporate and government customers, including entities operating some of the Kingdom’s critical infrastructure, Sindi added.

Consumption of Google Cloud services through CNTXT, according to the executive, doubled year-on-year in 2025. He expects that figure to double again in 2026 based on the current growth trajectory.

He noted that customers in Saudi Arabia are moving from the early stages of cloud adoption toward more advanced applications involving data, analytics, and artificial intelligence. This is expanding CNTXT’s role beyond providing cloud infrastructure to helping customers build the data environments and capabilities required to deploy these technologies, the executive added.

Regarding competition in the Saudi market amid growing investments by global cloud computing companies, Sindi said increased investment by global players is a positive development for the market, reflecting the scale of demand generated by the Kingdom’s digital transformation while introducing alternatives as customers’ technology needs evolve.

He added that companies’ decisions regarding cloud services are increasingly being driven by the nature of each workload, expecting multiple cloud platforms to continue operating in the market rather than organizations relying on a single provider to meet all their needs.

Google Cloud has a strong position in data, analytics, and artificial intelligence, Sindi said, adding that the market’s growth and diversification create more opportunities for CNTXT in areas including secure cloud infrastructure development, application upgrade, data management, and the deployment of AI solutions.

Regarding existing and future investments, Sindi could not comment on capital injections or financing activities but noted that the company is currently undergoing an important transformation that it plans to announce soon. The move is expected to broaden its market role and provide a platform for upcoming growth.

According to Argaam data, CNTXT was established in June 2022 as a joint venture between Saudi Aramco and Cognite, with the aim of supporting industrial digital transformation in Saudi Arabia and the wider region. CNTXT is also an authorized distributor of Google Cloud solutions in Saudi Arabia.