Saudi tech firms post SAR 12.99bn in H1 revenue, expert hails economic shift

In the first half of 2026, Saudi tech companies reported a total revenue of SAR 12.99 billion, marking a 14.7% increase compared to the same period last year. This growth, according to Abdulrahman Al-Mutraf, an academic at King Saud University, signifies a structural transformation in the Saudi economy rather than a temporary surge in performance.

The sector comprises seven listed companies, with six ending their fiscal year in December and Azm Saudi concluding its fiscal year on June 30. Among the companies, Solutions led with revenue of SAR 6.24 billion, a 9% increase from the previous year. Solutions also reported net profits of SAR 824 million, a 2.1% rise from the first half of 2025.

Elm followed as the second-highest revenue earner, generating SAR 4.99 billion, reflecting a 21.1% increase annually. Elm's net profit stood at SAR 1.17 billion, a 7.7% increase from the previous half-year. Al Moammar secured the third position with revenue of SAR 910 million, marking a 28.2% increase. However, Al Moammar saw a considerable drop in profits, falling to SAR 55.6 million, a 15.85% decline compared to the first half of 2025.