Rasan Strengthens Position in Saudi Insurtech with Record Q1 Earnings
Rasan Information Technology Company (Tadawul: 8313), an insurtech and fintech platform in Saudi Arabia, has reported record results for the first quarter of 2026. Revenue, profitability and scale improved strongly, with the company posting its highest quarterly revenue and sharp year-on-year gains in profit and gross written premiums.
The first quarter performance drew support from multiple lines of business. Motor Retail, Motor Leasing and Health activities all added to the growth. Recently introduced products also contributed, helping diversify income sources and reinforcing the role of Rasan Information Technology Company within Saudi Arabia’s digital insurance and financial services ecosystem.
Rasan Information Technology Company highlighted that first quarter 2026 revenue reached SAR 261 million, a 117% year-on-year increase and the highest quarterly figure recorded. Gross profit also rose 117% to SAR 186 million, while the gross margin stayed broadly unchanged at 71.2%, indicating that the company kept costs under control as activity expanded.
| Metric | Q1 2026 Value | YoY Change | Additional Detail |
|---|---|---|---|
| Revenue | SAR 261 million | Up 117% | Highest ever quarterly revenue |
| Gross Profit | SAR 186 million | Up 117% | Gross margin 71.2% |
| Adjusted EBITDA | SAR 115 million | Up 219% | Margin 44.0% |
| Adjusted Net Profit | SAR 103 million | Up 220% | Margin 39.5% |
| Reported Net Profit | SAR 88 million | Up 194% | |
| Gross Written Premiums (GWP) | SAR 2.7 billion | Up 57% |
Profitability indicators showed strong operating leverage for Rasan Information Technology Company in Saudi Arabia. Adjusted EBITDA reached SAR 115 million, a 219% increase, with the margin widening to 44.0%. Adjusted net profit climbed 220% to SAR 103 million, with margin at 39.5%, supported by a capital-light approach and a debt-free balance sheet structure.
Reported net profit for Rasan Information Technology Company advanced to SAR 88 million, up 194% year-on-year. Management said that the performance reflected consistent execution across established and newer product categories in the insurtech and fintech markets in Saudi Arabia, while also highlighting the contribution from expanding digital insurance and financial solutions.
“Q1 2026 reflects a continuation of Rasan's sustained growth trajectory, with the highest quarterly revenue in our history supported by broad-based growth across our product lines. These results underscore the strength and diversity of our business model and our ability to execute in a dynamic market,” said Moayad Alfallaj, Co-founder and CEO of Rasan. “Building on this momentum, we remain focused on accelerating growth, expanding our insurtech and fintech solutions across the Kingdom, and supporting the objectives of Saudi Vision 2030.”
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