Alqemam Reports SAR 8.15M Net Loss in the Six Months 2026
ALQEMAM 9558.SA | 0.00 |
On 2026-08-25 08:59:28 (Saudi Time), Alqemam for Computer Systems Co. announced its Interim financial results for the six months ended on June 30, 2026.
| Element List | Current Period | Similar period for previous year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 19,026,277 | 5,727,733 | 232.178 | ||
| Net Profit (Loss) Attributable to Shareholders of the Issuer | -8,145,707 | -9,533,506 | -14.557 | ||
| Total Shareholders Equity (after Deducting Minority Equity) | 76,031,744 | 69,990,607 | 8.631 | ||
| Profit (Loss) per Share | -2.72 | -3.18 | |||
| All figures are in (Actual) Saudi Arabia, Riyals | |||||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| Accumulated Losses | - | - | |
| All figures are in (Actual) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is |
Revenue increased to SAR 19.03 million in 2026, compared to SAR 5.7 million in the corresponding period of 2025, representing an increase of 232%. Gross profit also turned positive, reaching SAR 6.62 million in 2026, compared to a gross loss of SAR 1.96 million in the corresponding period of 2025. In addition, the operating loss decreased to SAR 6.61 million from SAR 9.25 million, reflecting an improvement of approximately 28.6%.
This was mainly attributable to:
1. The notable growth in maintenance and technical support revenues, as well as supply revenues, compared to the corresponding period of the previous year, primarily driven by the increase in the volume of work performed for government and semi-government sector clients.
2. The realization of the revenue diversification strategy pursued by the Company during previous periods, which resulted in an increase in contractual revenues. |
| The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is |
The decrease in net loss was attributable to the improvement in the Company’s operating performance and the notable growth in revenues, which had a positive impact, with the net loss decreasing to SAR 8.15 million compared to SAR 9.53 million, despite the following:
1. The expected credit loss provision increased by 95% to SAR 9.73 million, compared to SAR 4.98 million in the corresponding period, relating to trade receivables and contract assets, the majority of which are associated with government and semi-government entities.
2. Finance costs increased compared to the corresponding period as a result of the Company obtaining and utilizing Murabaha Sukuk facilities during the period to finance working capital and support the execution of ongoing projects. |
| Statement of the type of external auditor's report | Unmodified conclusion |
| Reclassification of Comparison Items | -none |
| Additional Information | -none |
Year-on-Year Performance Drivers
Sales surged 232.178% YoY to SAR 19.03 million (converted from SAR 19,026,277 Actual) from SAR 5.73 million in the prior period, driven by notable growth in maintenance, technical support, and supply revenues from government and semi-government sector clients, as well as increased contractual revenues resulting from the Company's revenue diversification strategy. Gross profit turned positive at SAR 6.62 million compared to a gross loss of SAR 1.96 million, and operating loss narrowed by approximately 28.6% to SAR 6.61 million from SAR 9.25 million. Net loss attributable to shareholders improved by 14.557% YoY to SAR 8.15 million from SAR 9.53 million, supported by the stronger operating performance, though partially offset by a 95% increase in expected credit loss provisions to SAR 9.73 million (related to trade receivables and contract assets with government entities) and higher finance costs stemming from the utilization of Murabaha Sukuk facilities to finance working capital and ongoing projects.
Other Items
Alqemam for Computer Systems Co. reported an unmodified conclusion from its external auditor for the six-month interim period ending June 30, 2026. Total shareholders' equity (after deducting minority equity) stood at SAR 76,031,744, compared to SAR 69,990,607 in the same period of the prior year, reflecting an 8.631% increase. Loss per share was SAR -2.72, compared to SAR -3.18 in the corresponding prior-year period. No accumulated losses or profits resulting from changes in investment property fair value were reported as a percentage of capital.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=97775&anCat=1&cs=9558&locale=arImportant Notice: The announcement information and market data in this report are sourced directly from the Saudi Exchange (Tadawul). This summary is generated by Sahm’s proprietary AI model for informational purposes only. While we strive for accuracy, it should not be construed as financial advice or an investment recommendation.