Tabby Q1 2026 profit up 4% at SAR 68.1M

Fintech services provider Tabby’s Q1 2026 net profit rose 4% to SAR 68.1 million from SAR 65.2 million in the year-earlier period.

Net fee and commission income rose 38% to SAR 288.6 million in Q1 2026, driven by strong growth in merchant network revenues and customer fees amid continued expansion of the Buy Now, Pay Later (BNPL) consumer financing platform. Loans receivable increased to SAR 3.66 billion by the end of Q1 2026, compared to SAR 3.18 billion at the end of 2025.

The company also benefited from higher income from affiliated sukuk, which climbed to SAR 43.3 million from SAR 16.5 million, supported by the expansion of the financing structure related to Flow Co. after new sukuk issuances during 2025.

Meanwhile, lower franchise and service fees supported profitability as some technology and customer support functions were shifted in-house, reducing payments to affiliated entities.

However, earnings growth was partly offset by a rise in expected credit loss expenses to SAR 47.9 million due to the expansion of the financing portfolio and higher receivables balances. General and administrative expenses also surged, driven by increased spending on IT infrastructure, customer support centers, and operational localization within Saudi Arabia.

Sequentially, net profit grew 19.4% from SAR 57.06 million in Q4 2025.

Shareholders’ equity, no minority interest, increased to SAR 708.1 million by the end of Q1 2026, from SAR 498.6 million a year earlier.