Almoosa Health earns SAR 23.5M in Q1 2026

Almoosa Health Co. reported a net profit of SAR 23.5 million in Q1 2026, compared with SAR 67.2 million in Q1 2025.

The company reported a shift in its derivatives results from a profit of SAR 16.1 million in the first quarter of 2025 to a loss of SAR 13.3 million in the current quarter.

It also said finance income declined to normalized levels following the use of proceeds from its initial public offering, while general and administrative expenses rose due to continued investment in operational infrastructure and the launch of new medical centers.

Margins came under pressure during the quarter due to operating costs linked to the initial ramp-up phase of two newly opened large medical facilities, in addition to weaker seasonal performance in the first quarter, which coincided with Ramadan and Eid al-Fitr holidays. This led to lower patient volumes and a decline in elective procedures.

The company also said regional geopolitical developments affected the operating environment.

The year-ago period also included a one-off Zakat-related gain.

However, revenue rose 7.8% to SAR 348.3 million, driven by continued expansion of healthcare services and increased operational capacity across its facilities. Rehabilitation Hospital recorded a 48.3% YoY increase, supporting overall revenue growth.

The company continues to execute its expansion strategy through the development of existing hospitals and the opening of new medical centers, while focusing on improving operational efficiency and profitability in future periods as newly launched facilities stabilize.

On a sequential basis, net earnings dropped 55% from SAR 52.20 million in Q4 2025.

Total shareholders’ equity, no minority interest, stood at SAR 1.93 billion as of March 31, 2026, down from SAR 1.83 billion a year earlier.

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