Nice One incurs SAR 9.5M loss in 9M 2026, earns SAR 1.8M in Q3

Nice One Beauty Digital Marketing Co. reported a net loss of SAR 9.5 million for the first nine months of 2026, against a net profit of SAR 28.8 million in the same period a year earlier.

The shift to losses was attributed to a 3.4% decline in revenue to SAR 741.43 million and a 3.2% drop in gross profit to SAR 184.87 million. The company reported higher selling, marketing, general and administrative expenses, reflecting increased marketing spend amid intensifying competition, costs of closing loss-making retail stores and rising inventory provisions.

These factors were partly offset by improved pricing and procurement efficiency, higher sales contributions from the company’s private-label brands, and continued retail store expansion, which increased retail revenue’s share of total revenue to 4.1% from 1.0% a year earlier.

In Q3 2026, the company’s earnings declined 70% to SAR 1.8 million from SAR 5.92 million in Q3 2025.

Sequentially, the company turned to profit versus a net loss of SAR 19.93 million in Q2 2026.

The positive performance was credited to a 36.6% increase in revenue to SAR 257.21 million, driven by seasonal demand during Saudi National Day and higher revenue contributions from retail stores. Gross profit rose 50.9% to SAR 62.95 million, supported by higher sales and lower provisions for slow-moving inventory, while general and administrative expenses fell 4.7% to SAR 17.13 million.

These gains were partly offset by a 1.4% increase in selling and marketing expenses to SAR 42.14 million, although their ratio to revenue declined to 16.4% from 22.1%, reflecting improved marketing spending efficiency.

Shareholders’ equity, no minority interest, fell to SAR 371.05 million as of Sept. 30, 2026, compared to SAR 405.95 million in the prior-year period.

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