Rasan Extends Strong Momentum into 9M 2026 with Revenue of SAR 819 Million, Up 64% Year-on-Year

Record Quarterly Revenue in 3Q 2026 as Motor Retail Posts Its Strongest Quarter

RIYADH, Saudi Arabia--(BUSINESS WIRE)--Rasan Information Technology Company (Tadawul: 8313), the leading Insurtech and Fintech platform in Saudi Arabia, today announced its financial results for the first nine months of 2026, reporting sustained growth, strong profitability and record quarterly revenue in the third quarter.

Financial Highlights:

• Gross Written Premiums (GWP): SAR 8.6 billion, up 42% YoY
• Revenue: SAR 819 million, up 64% YoY – with record quarterly revenue of SAR 301 million in 3Q 2026
• Adjusted EBITDA: SAR 359 million, up 92% YoY, with margin expanding to 43.8%
• Adjusted Net Profit: SAR 330 million, up 91% YoY, with margin reaching 40.3%
• Reported Net Profit: SAR 284 million, up 93% YoY

Business Performance:

Rasan's performance in the first nine months reflected broad-based execution. Motor Retail grew 34% to SAR 331 million and delivered its strongest quarter on record. Motor Leasing more than doubled to SAR 340 million while Health advanced 18% YoY. Domestic Helper Contract insurance led the newer products in broadening the revenue base.

Strong Operating Leverage:

Adjusted EBITDA margin rose 6.4 percentage points to 43.8% as revenue growth far outpaced costs. Adjusted net profit margin rose 5.8 points to 40.3%, supported by a debt-free, capital-light model.

Company Commentary:

“Rasan’s nine-month performance reflects a deliberate strategy: strengthen the core while widening the platform around it. Motor Retail delivered its strongest quarter on record,” said Nicola Garelli, Chief Executive Officer of Rasan. “Our 64% revenue growth has been delivered profitably, not at the expense of margin. Our priorities are clear: to build on this momentum, deepen our leadership in the markets we serve, and create long-term value for shareholders while advancing the Kingdom’s Vision.”

About Rasan:

Rasan operates digital platforms including Tameeni, Saudi Arabia's leading insurance aggregator, and Treza, a digital motor leasing platform. It partners with insurers and financial institutions to deliver technology-driven financial solutions. Rasan's strategy is aligned with Vision 2030, contributing to financial inclusion and digital transformation.

For the full press release, please visit here.

*Source: AETOSWire