Elm earns SAR 1.17B in H1 2026, SAR 513M in Q2

Elm Co., a provider of integrated digital solutions for e-government transformation, reported a net profit of SAR 1.17 billion for the first half of 2026, compared with SAR 1.08 billion in the same period of 2025.

The company attributed the increase in H1 profit to a 21.2% year-on-year (YoY) growth in revenue to SAR 875 million, as well as a SAR 5 million decline in research and development expenses.

In addition, the company cited a SAR 2 million reduction in impairment expense on non-current assets, as well as recognition of a one-off gain of SAR 59 million from the fair value remeasurement of a previously held equity interest in an associate following the acquisition of a controlling stake.

This was partially offset by 33.7% higher operating expenses (OpEx) of SAR 237 million, as well as a SAR 32 million increase in financing costs, coupled with a SAR 6 million decline in fair value gains on investments through profit or loss (FVTPL).

The company reported a net profit of SAR 513 million in Q2 2026, down 13.1% from SAR 590 million in Q2 2025.

The second-quarter net earnings dropped 21.8% from SAR 656 million in Q1 2026.

Shareholders' equity, excluding minority interest, stood at SAR 4.46 billion as of H1 2026.

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