PIF-backed Elm posts 28% revenue growth in 2025

02/03/2026 04:41 AST

Elm Co., the Public Investment Fund-backed digital solutions provider, reported a 27.78 percent rise in annual revenue, driven by strong demand across its digital platforms and outsourcing services.

Revenue climbed to SR9.47 billion ($2.5 billion) in 2025 from SR7.41 billion a year earlier, according to a filing on Tadawul. Net profit attributable to shareholders increased 14.46 percent to SR2.09 billion for the year ended Dec. 31, 2025.

Elm, which provides digital transformation services, secure e-government platforms, data solutions and business process outsourcing to public and private sector clients, said growth was supported by expansion across all major business segments.

Digital Business revenue rose 22.97 percent year on year, while Business Process Outsourcing revenue surged 43.31 percent. Revenue from Professional Services increased 18.95 percent.

The revenue growth translated into a 21.35 percent increase in gross profit to SR3.68 billion, compared with SR3.03 billion in 2024. Operating profit climbed to SR2.03 billion from SR1.70 billion, reflecting continued scaling of operations.

Operating expenses rose 23.65 percent to SR2.32 billion, mainly due to higher general and administrative expenses, selling and marketing costs, depreciation and amortization, research and development spending, and impairment of non-current assets. The increase was partially offset by lower expected credit loss expenses.

Total comprehensive income attributable to shareholders reached SR2.04 billion, up from SR1.81 billion a year earlier. Earnings per share rose to SR26.86 from SR23.51 in 2024. Shareholders' equity stood at SR3.62 billion at year-end.

Arab News