PIF-backed digital solutions provider, Elm Co., registered a 27.78 percent increase in annual revenue, which was driven by the high demand for their digital platforms and outsourcing services.
A filing on Tadawul reported that the revenue surged to SR9.47 billion ($2.5 billion) in 2025 from SR7.41 billion in the previous year. Net profit after tax due to shareholders is 14.46 percent higher at SR2.09 billion in the year ended Dec. 31, 2025.
Elm, a provider of digital transformation services, secure e-government platforms, data solutions, and business process outsourcing to customers in both the public and private sectors, indicated growth was enabled by growth in all the key business segments.
Digital Business revenue increased by 22.97 percent year-on-year, and Business Process Outsourcing revenue increased by 43.31 percent. Revenue from Professional Services increased 18.95 percent.
This growth in revenues amounted to the growth of gross profit by 21.35 per cent to SR 3.68 billion, which is lower than the SR3.03 billion in 2024.
The operating profit increased to SR2.03 billion compared to SR1.70 billion, a clear indication of further scaling of operations.
There was an increase in operating expenses by 23.65 percent to SR2.32 billion, mainly as a result of increased general and administrative expenses, selling and marketing expenses, depreciation and amortization expense, research and development expense, and impairment of non-current assets. The growth was somewhat compensated by the reduced expected cost of credit losses.
The total comprehensive income available to shareholders was SR2.04 billion, compared with SR1.81 billion in the previous year. The earnings per share increased to SR26.86 as compared to SR23.51 in the year 2024. Shareholders’ equity stood at SR3.62 billion at year-end.
