Riyadh, Kingdom of Saudi Arabia – Jahez International Information Systems Technology Company (“Jahez” or “the Group”, symbol 6017 in Saudi Arabia’s Tadawul, TASI - Main Market), announces its consolidated annual financial results for 2025.

Key achievements

• Profitability is expected to continue through the end of 2025 despite intense competition in Saudi Arabia.

• The total value of goods increased to 7.2 billion in 2025, with a growth of 10.8% compared to the previous year, resulting in net revenues of 2.3 billion, an increase of 4.7% on an annual basis.
• The group achieved adjusted EBITDA of SAR 193 million , reflecting a prudent decision to invest in customer retention and defend market share during a period of heightened promotional activity across the sector. Despite increased competition, Jahez achieved a profitability rate exceeding 11.9% (SAR 208.8 million) in its Saudi Arabian delivery platform business and maintained group-wide profitability . This stands out as a key differentiator compared to regional competitors who prioritize growth over profitability.
• Maintaining profitability by achieving a net profit attributable to shareholders of 73.0 million.
• Commission revenue grew by 16.3 % and advertising revenue increased by 17.5 % year-on-year to partially offset the decline in delivery revenue .
• The group's new sectors continued to expand, achieving double-digit growth in revenues from merchandise sales and subscriptions [1] compared to last year.

• International expansion in Qatar and restructuring of operations outside Saudi Arabia

• The acquisition of Snoonu, a leading delivery platform in Qatar, was completed in October 2025. Snoonu contributed 626.8 million to the total value of goods for the group during 2025.

• Work is underway to launch the platform in Kuwait and Bahrain as part of a broader strategy aimed at making Sununu the main platform for the group’s operations and expansion into international markets after acquiring the largest share in them.

• Enhancing a multi-service ready-made model

• Launching an improved version of the Ready app with a simplified interface and built-in features to enhance user interaction and service discovery.
• Integrating grocery and retail services within the Ready app through dedicated sections such as “ Grocery ” and “ Shop ” (instead of the previously separate BK app), enhances the app’s position as a multi-service lifestyle platform.
• Strong growth was achieved in sales of products other than the food delivery sector, where the total value of goods increased fourfold in 2025 compared to the previous year, with this sector's contribution reaching 7% of the total value of goods compared to 2% in the previous year.
• A strategic partnership was established in the Kingdom in October 2025 with Noon, enabling the "Noon Minutes" service through the Jahez application, providing users with groceries, beauty products, and daily needs through Jahez and implemented by Noon. In return, Jahez's food delivery services are displayed on the Noon application in Saudi Arabia, where orders are directed to Jahez for implementation.
• The investment in "Dous" reinforces the group's focus on the fast-paced, cloud-based retail model in Saudi Arabia and complements the shopping model of Jahez and the Noon Minutes partnership.

Engineer Ghassab bin Salman bin Mandeel, CEO of Jahez Group, stated:

“In 2025, Jahez demonstrated the resilience and adaptability of its business model in a market that has become more dynamic and competitive. Despite this, we succeeded in increasing the Gross Merchandise Value ( GMV ) by 10.8% to reach 7.2 billion, and processing more than 111.6 million orders, while maintaining a strong gross profit base that exceeded half a billion Saudi Riyals. Our profitability reflects the structural strength of our customer base and the multi-service platform that we have built within the Jahez ecosystem. This diversification continues to deliver positive results, as revenues from merchandise sales and subscriptions doubled year-on-year, reflecting the opportunities available to monetize the platform. Meanwhile, strategic partnerships and investments such as Noon and Dous have contributed to strengthening our position in the fast-moving commerce sector.”

Our international strategy also took a significant step forward. Following the acquisition of Snoonu, we announced a clear vision for our international expansion, selecting Snoonu as the group's primary operating platform outside Saudi Arabia. Snoonu's multi-service technologies and operational capabilities complement the strong user base we have built in the GCC. The consolidation of Snoonu's operations during the fourth quarter contributed significantly to a strong year-end, with net revenues from platforms outside Saudi Arabia more than doubling compared to the previous year. This restructuring was undertaken with a forward-looking perspective to enable faster launch of multi-sector services, increased scalability, and deeper customer engagement across multiple regional markets.

We recognize that increased competition has impacted profitability this year, but our response has been measured and disciplined. While engaging in promotional activities, we maintained a balanced approach and focused on delivering value beyond price alone. We chose to invest in growth and defend our core customer base, while maintaining a delicate balance between competitiveness and profitability. At Jahez, we remain firmly committed to creating long-term shareholder value through sustainable and disciplined profitability, while maintaining the flexibility and ability to seize near-term opportunities when needed.

In 2025, the total value of goods (GMV) increased by 10.8% year-on-year to reach 7.2 billion , driven by an increase in the number of orders and the average order value (AOV) of 5.3% and 5.2% respectively.

The group’s net revenue grew by 4.7% year-on-year to reach 2,323.6 million , mainly driven by strong growth in delivery platforms outside Saudi Arabia, in addition to the continued diversification of revenue sources. Commission revenue also increased by 16.3 % to reach 1,113.8 million , which helped to offset the 13.1 % decrease in delivery fee revenue, which was mainly due to the intensity of competition in the Saudi market.

Gross profit remained robust at 530.1 million in 2025, representing a gross profit margin of 22.8 % , a slight decrease of only 1.6 percentage points despite increased price competition. This confirms that Jahez benefited from its diversified revenue model and continuous improvements in delivery cost efficiency, which helped to reduce the impact of lower delivery fees across markets .

Operating expenses rose to 469.1 million (an increase of 26.1% year-on-year), reflecting increased marketing investments to defend the group's market share in existing markets, in addition to including the cost base of Sununu Company as of the fourth quarter of 2025. Adjusted earnings before interest, taxes, depreciation and amortization (Adj.EBITDA) amounted to 193.0 million with a margin of 8.3% , while net profit attributable to shareholders amounted to 73.0 million . The decline in profitability on a year-on-year basis is due to a well-considered strategic decision to invest in customer retention during a period that witnessed high promotional activity at the sector level.

The Saudi Arabian delivery platform sector, Jahez, maintained its profitability during 2025, recording a net profit of 214.8 million , with an adjusted profit margin before interest, taxes, depreciation and amortization ( ADJ. EBITDA ) of 11.9% and a net profit margin of 12.2 %. Revenue decreased by 8.6% year-on-year, as a result of Jahez's response to market changes by adjusting delivery fees to be more competitive and increasing the focus on generating revenue through commissions.

In light of the increasing competition in the Saudi market during 2025, the group increased its marketing spending and promotional activities, focusing on retaining high-value customers and defending its market share, while continuing to improve its revenue mix towards commissions and other higher-margin income streams. Continued profitability in this sector reflects the robustness of the platform and the strength of its core customer base.

As for Logi, the group’s logistics arm in Saudi Arabia, it achieved net revenues of SAR 428.8 million, a 1.4% year-on-year increase. Adjusted EBITDA reached SAR 24.3 million with a margin of 5.7%, compared to SAR 29.0 million (6.9% margin) in 2024, driven by the expansion of its fleet supported by the sponsorship system. It is also important to note that Logi’s growing internal delivery capacity significantly contributed to reducing the cost of delivery per order across the group, partially offsetting the impact of lower delivery fees in the competitive Saudi market. During the year, Logi expanded its fleet to over 4,000 drivers under the sponsorship system, compared to over 1,800 drivers in the previous year. As a result, Logi represented 40% of Jahez's deliveries by the fourth quarter of 2025, with a continuous improvement in the cost of delivery per order. The sector recorded a net loss of 25.5 million (compared to a loss of 7.8 million in 2024), mainly due to higher depreciation expenses resulting from fleet expansion.

The platform segment outside Saudi Arabia witnessed strong growth in Jahez, with net revenues increasing by 118.7% year-on-year to reach 462.4 million . Adjusted losses before interest, taxes, depreciation and amortization (Adj EBITDA) also decreased significantly to 14.4 million , with the loss margin improving to only -3.1 % compared to -26.5% in 2024. This performance was supported by the impact of the acquisition of Sununu, the results of which were consolidated within the financial statements as of the fourth quarter of 2025, which contributed to increasing the size of the group's international business portfolio .

In February 2026, Jahez announced its international strategy, under which Sununu was selected as the group’s main international operating platform. Sununu is expected to gradually assume an increasingly important operational role in the group’s international markets, starting with planned launches in Kuwait and Bahrain, leveraging its advanced technological infrastructure and strong multi-sector operating model. This strategy reflects the group’s conviction that long-term success in international markets is best achieved by focusing on a multi-service model, enhancing customer engagement, and increasing customer retention rates.

Snoonu delivered a strong performance in 2025, with Gross Merchandise Value (GMV) increasing by 66 % year-on-year to reach $ 2.36 billion, while total revenue grew by 72% to $ 904.8 million. This growth was driven by rapid expansion in the user base and engagement levels. The number of active customers increased by 32% year-on-year, while the total number of orders jumped by 64% to 27.1 million. This reflects not only the expansion of the user base but also a significant increase in per-user engagement, with the order frequency rate rising to 7.6 times compared to 6.4 times in 2024. The average order value remained among the highest in the region at $ 87.0 , demonstrating the platform's ability to maintain order volume while scaling up through its multi-service model. Snoonu achieved positive EBITDA of $ 53.7 billion. 4 million in 2025, reflecting disciplined cost management as the business continues to expand .

Jahez's other activities sector, which includes investments by Kow, Marn, Sol, the investment portfolio of Al-Lon Al-Ahmar Company, and other subsidiaries, achieved a 48.4 % growth in net revenues, reaching SAR 108.0 million, driven by the expansion of the group's business portfolio and contributions from subsidiaries. Conversely, adjusted EBITDA widened to SAR 25.7 million, while net loss increased to SAR 82.5 million, compared to SAR 33 million in 2024 . This year-on-year decline is mainly due to the large increase in expected credit losses (ECL) , which rose to ₹ 29.4 million in 2025 compared to ₹ 0.5 million in the previous year. In addition, the group recorded an impairment loss on goodwill of ₹ 11.8 million, in addition to higher losses in the investment portfolio of Al-Alwan Al-Ahmar as a result of fair value reductions recorded during the period .

Although this sector is still in the investment and development phase, the group sees these activities as key pillars within its strategy to build an integrated system, which will allow for expanding the range of services provided to both traders and customers.

About the Ready Group

Jahez Group operates under several brands through Jahez International and its subsidiaries, offering on -demand services, quick commerce , last-mile delivery, digital solutions, cloud kitchens, and shelving through its technology platforms. It connects customers, retailers, and delivery drivers in 100 cities across the Kingdom of Saudi Arabia, as well as in Bahrain and Kuwait . Launched in 2016 , the Jahez platform has been a major driver of the transformation in online food ordering and delivery services in the Kingdom, thanks to the added value it provides to customers and the growing prevalence of mobile devices and delivery culture over the years .

In its pursuit of its goal of reaching the largest possible number of customers and stores, the group has developed its service offerings and currently provides a wide range of delivery and logistics services through its main business lines, which are as follows :

• The Jahez platform plays a central role in the group's operations and advanced technological functions as an order source for stores, providing comprehensive logistical support and payment collection processes . The Jahez platform aims to connect stores, customers, and delivery personnel in Saudi Arabia, Bahrain, and Kuwait through a user-friendly mobile application, offering a fast, seamless, and fully automated delivery experience .

• Jahez Stores Platform (formerly PIK Platform): A quick commerce platform, it's a new generation of e-commerce that connects customers with their favorite brands and delivers their desired products within two to three hours directly from the store . The group established the PIK platform in 2020 to expand its operations beyond food delivery, and it now offers a wide range of goods, from fashion and cosmetics to computer equipment and devices.
• Swallow platform:

Jahez acquired Snoonu in 2025. The purchase of a 76.56% stake in Snoonu was finalized in October 2025. Founded in 2019, Snoonu is one of Qatar's leading platforms, rapidly growing to become the country's premier technology and comprehensive application. It is driving a rapid transformation in the e-commerce, smart services, and on-demand solutions sectors. Snoonu has expanded its operations in line with Qatar's vision of building a diversified knowledge-based economy, supporting delivery, express commerce, last-mile delivery logistics, and business solutions. It connects customers with merchants and partners through an integrated network covering various regions of the country. Snoonu has established itself as the fastest-growing technology company in Qatar, contributing to the national digital transformation by developing technology-enabled services that enhance customer convenience and empower communities to benefit from practical and effective digital solutions. Sununu has expanded its influence in daily life, stemming from its firm commitment to developing national competencies and adopting innovation as a permanent approach in all its initiatives.

• BLU Platform ( BLU Store ): The group (in partnership with Al Hilal Investment Company) established the Blue Application Company in 2022, which works in the field of displaying, marketing and selling various products that bear different trademarks and names and providing services online through the “BLU Store” electronic application.
• Co : The group acquired a 60% stake in Co in 2020 and acquired the remaining 40% stake in the company during the first quarter of 2024. It is a Cloud Kitchens and Shelving platform that aims to provide restaurants with kitchen spaces to prepare their meals and then sell them to their customers, in addition to spaces to store food and other products to be sold only through delivery platforms. Cloud Kitchens and Shelving is a new business model for stores, as stores increasingly rely on delivering food and products online as a way to increase their reach without incurring the additional costs of high rent and service staff.
• Logi Company: The group established Logi Company in 2021 to enable the e-commerce and delivery sector by providing logistics solutions. Logi aims to be a leading force supporting last-mile delivery services in the Kingdom and to empower local businesses by reducing their operating expenses. Logi will also serve as a central platform to support the group's logistical and operational needs.
• Red Color Company : The group established Red Color Company as its investment arm to achieve its expansion goals. The group aims to invest in technology sectors that benefit from its partners, including customers, stores, and delivery personnel .
• Marn Business Company: The group acquired all the shares of the owners of Marn Business Company for Information Technology in January 2023, which enables stores to build their unique environment by developing systems for business owners through the provision of various digital solutions that work in conjunction with different service providers and partnerships. This acquisition is in line with the group’s desire to add more sectors to its activities and continue its growth.
• Sol Company: The group invested in Sol Company by purchasing 35% of the company’s shares. Sol Company was launched in 2021 with the aim of providing basic materials and wholesale to restaurants, cafes, hotels and catering companies, in addition to providing a variety of food products and complementary tools through effective and easy technological solutions for shop owners.

Important Notice

This document may contain statements that are or may be considered forward-looking statements, including statements about the beliefs and expectations of Jahez Company (“the Company”). These statements are based on the Company’s current plans, estimates, and projections, as well as its expectations of external conditions and events. These forward-looking statements involve material risks and uncertainties and are only correct as of the date they are made. Because of these risks, uncertainties, and assumptions, a potential investor should not place undue reliance on these forward-looking statements. Many important factors could cause actual results or outcomes to differ significantly from those expressed in any forward-looking statements. It is not the Company’s obligation, nor does the Company intend, to update or amend any forward-looking statements made in this presentation, whether as a result of new information, future events, or otherwise .

This document was prepared and is solely the responsibility of the company. It has not been reviewed, approved, or endorsed by any financial advisor, senior manager, sales agent, bank, or underwriter held by the company and is provided for informational purposes only. Furthermore, as this document is only a summary, it may not contain all material terms and should not, in itself, form the basis of any investment decision .

The information and opinions contained herein are believed to be reliable and have been obtained from sources believed to be reliable, but no representation or warranty, express or implied, is made as to the fairness, correctness, accuracy, reasonableness or completeness of the information and opinions. There is no obligation to update or amend this document or to notify you if any information, opinion, estimate, forecast or estimate contained herein changes or subsequently becomes inaccurate .

It is strongly advised that independent advice be sought regarding any investment, financial, legal, tax, accounting, or regulatory issues mentioned herein. The analyses and opinions contained herein may be based on assumptions that may change if such analyses or opinions are altered. Nothing contained herein constitutes any representation or guarantee regarding the future performance of any financial instrument, credit, currency, rate, or other economic or market measure. Furthermore, past performance is not necessarily indicative of future results. The company disclaims liability for any loss arising out of or in connection with your use of or reliance on this document .

These materials do not constitute an offer to sell or a solicitation to purchase securities in any legal capacity .

-I finish-

#Company Data

Disclaimer regarding the content of press releases
The content of this press release is provided by a third-party provider. We do not assume any responsibility for, nor do we have any control over, such content. This content is provided on an "as is" and "as available" basis and is not edited in any way. Neither we, nor our affiliates, will be liable for the accuracy, endorsement, or completeness of any opinions, views, information, or materials contained in this content.
This press release is provided for informational purposes only; the content does not constitute legal, investment, or tax advice, nor does it offer any opinion on the suitability, value, or profitability of any particular portfolio or investment strategy. Neither we nor our affiliates will be liable for any errors or inaccuracies in the content, or for any actions you take based on that content. You expressly agree and acknowledge full responsibility for your use of the information contained in this press release.
To the extent permitted by applicable law, Refinitiv, its parent company, subsidiaries, affiliates, relevant shareholders, directors, officers, employees, agents, advertisers, content providers, and licensors (collectively, the 'Refinitiv Parties') shall not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive, or exemplary damages; This includes, but is not limited to, losses of profits, savings, or revenues, whether due to negligence, tort, contract, or other theories of liability, even if the parties to Refinitiv were advised of the possibility of any such damages or losses occurring or actually anticipated them.