Riyadh — Mubasher: Alqemam for Computer Systems Company reported lower net losses of SAR 8.15 million in the first half (H1) of 2026, representing a 14.56% improvement compared to the SAR 9.53 million loss recorded in the same period last year.
The company’s financial performance was driven by a significant expansion in business volume, with total sales rising to SAR 19.03 million in H1-26 from SAR 5.73 million in the previous year.
The company attributed the 232.18% revenue growth to increased maintenance, technical support, and supply contracts, particularly within the government and semi-government sectors.
Operational performance improved as the company transitioned to a gross profit of SAR 6.62 million, compared to a gross loss of SAR 1.96 million in H1-25. Consequently, the operating loss decreased by 28.6% to SAR 6.61 million.
Despite the improved top-line performance, the bottom line was impacted by a 95% increase in expected credit loss provisions, which rose to SAR 9.73 million.
Additionally, financing costs increased as the company utilized Murabaha Sukuk facilities to fund working capital and ongoing projects.
The loss per share for the period improved to SAR 2.72 from SAR 3.18 in H1-25, while total shareholders' equity grew by 8.63% to reach SAR 76.03 million in H1-26.
