Rasan Information Technology Reports Record Q1 2026 Revenue and Profitability
📋 Key Takeaway: Rasan Information Technology Company reported a record revenue of SAR 261 million for Q1 2026, marking a 117% year-over-year increase and showcasing broad-based growth across its product offerings.
Record Financial Performance in Q1 2026
Rasan Information Technology Company, a leading Insurtech and Fintech platform in Saudi Arabia, announced its financial results for the first quarter of 2026, achieving its highest quarterly revenue to date. The company reported a revenue of SAR 261 million, a remarkable 117% increase year-over-year, alongside a gross profit of SAR 186 million, which also reflects a 117% YoY growth. The gross margin remained stable at 71.2%, further underscoring the company’s robust financial health.
In addition to revenue growth, Rasan’s adjusted EBITDA reached SAR 115 million, representing a 219% increase YoY, with an EBITDA margin expanding to 44.0%. The adjusted net profit of SAR 103 million marked a 220% increase YoY, translating to a net profit margin of 39.5%. The reported net profit was SAR 88 million, up 194% compared to the previous year, while gross written premiums (GWP) surged to SAR 2.7 billion, a 57% YoY increase.
Business Performance and Growth Drivers
The strong performance in Q1 2026 was attributed to Rasan’s effective execution across its established verticals, including Motor Retail, Motor Leasing, and Health. Each of these sectors contributed significantly to the record results, demonstrating the company’s ability to leverage its diverse product offerings. Moreover, the introduction of newer products has broadened Rasan’s revenue base, highlighting the platform’s depth and adaptability in a competitive market.
Rasan’s operating leverage was evident as the adjusted EBITDA margin expanded by 14.1 percentage points to 44.0%, indicating that revenue growth significantly outpaced cost increases. The adjusted net profit margin also saw an increase of 12.7 percentage points, reflecting the company’s capital-light model and a conservative, debt-free balance sheet, which have positioned it well for sustainable growth.
Management Insights and Future Outlook
Moayad Alfallaj, Co-founder and CEO of Rasan, commented on the results, stating, “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.”
Looking ahead, Rasan aims to build on this momentum by accelerating growth and expanding its insurtech and fintech solutions throughout Saudi Arabia. The company’s strategy is closely aligned with the objectives of Saudi Vision 2030, focusing on enhancing financial inclusion and driving digital transformation across the Kingdom.
Frequently Asked Questions
What were Rasan’s revenue figures for Q1 2026?
Rasan reported a revenue of SAR 261 million for Q1 2026, a 117% increase year-over-year.
How did Rasan’s adjusted EBITDA perform in Q1 2026?
Adjusted EBITDA reached SAR 115 million, reflecting a 219% increase year-over-year.
What is Rasan’s strategy in relation to Saudi Vision 2030?
Rasan’s strategy aligns with Saudi Vision 2030 by focusing on financial inclusion and digital transformation.
Which sectors contributed to Rasan’s growth in Q1 2026?
Motor Retail, Motor Leasing, and Health were key sectors contributing to Rasan’s growth.
What is Rasan’s approach to financial management?
Rasan operates with a capital-light model and maintains a conservative, debt-free balance sheet.
