Rasan earns SAR 30M in Q1 2025

Rasan Information Technology Co. generated a net profit of SAR 30 million in the first quarter of 2025, up from SAR 9.5 million a year earlier.

The company cited an 80% leap year-on-year (YoY) in revenue, thanks to a rise in the number of policies sold, implying higher demand and improved effectiveness of the sales teams, as well as the acquisition of new customers, along with cross-selling and upselling initiatives.

Rasan also launched new channels and business lines, with new lines such as travel insurance, domestic worker insurance, and medical malpractice introduced, contributing to revenue growth.

Gross profit margins also expanded by 11.4 percentage point from 59.8% in Q1 2024 to 71.2% in Q1 2025.

Rasan’s earnings before interest, tax, depreciation and amortization (EBITDA) also surged by 148% YoY, on lower operating expenses, while other income saw an increase.

Compared to Q4 2024, Rasan’s net profit dropped by 24.6% from SAR 39.7 million, due to the company’s economic cycle and product offerings. Rasan also continued to develop new products, to be launched soon, while intensifying marketing campaigns for new offering.

Total shareholders’ equity, no minority interest, stood at SAR 450.47 million by March 31, 2025, down from SAR 135.53 million a year earlier.

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