Financial Results : Alqemam incurs SAR 9.5M loss in H1 2025

Alqemam incurs SAR 9.5M loss in H1 2025

28/08/2025 Argaam Exclusive

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Alqemam for Computer Systems Co. turned to a net loss of SAR 9.5 million in H1 2025, versus a profit of SAR 4.6 million in H1 2024.



Current Half Annual Comparison (M)

Compared With The
Item H1 2024 H1 2025 Change‬
Revenues 16.48 5.73 (65.2 %)
Net Income 4.59 (9.53) (307.6 %)
Average Shares 3.00 3.00 -
Earnings Per Share before unusual items (Riyal) 1.53 (3.18) (307.6 %)
EPS (Riyal) 1.53 (3.18) (307.6 %)

The decline was due to a 65% year-on-year drop in net revenue, as the company focused on innovation and testing of new products and services ahead of commercialization, developed a revenue model to support long-term growth, adjusted to government platform updates, and prepared for shifts in government projects that required longer lead times.

 

General and administrative expenses rose 36% YoY in H1 2025, while selling and marketing expenses also increased by 36% over the same period.

 

Expected credit losses surged 270% YoY, driven by delays in collecting receivables from government sector clients and the aging of these receivables beyond 360 days.

 

Compared to H2 2024, Alqemam swung from a profit of SAR 4.66 million.

 

Shareholders' equity, after minority interest, reached SAR 69.9 million at the end of H1 2025, compared with SAR 75.3 million a year earlier.

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