JAHEZ DELIVERS STRONG H1 2026 GROWTH AS KSA REGAINS MOMENTUM AND SNOONU ADVANCES INTERNATIONAL EXPANSION

Riyadh, Saudi Arabia,August 2026 – Jahez International Company for Information System Technology (“Jahez”, or the “Group”, 6017 on the Saudi Exchange’s TASI – Main Market), announces its financial results for the second quarter and first half of 2026. 

Key Highlights:

Improving Q2 commercial momentum supporting strong H1 2026 growth

• Group GMV increased 40.4% YoY and 9.7% QoQ to  2.5 billion in Q2 2026, supported by a 26.5% YoY increase in orders to 36.4 million and continued sequential momentum across KSA and Qatar.
• In KSA, Q2 GMV increased 11.7% QoQ, with orders up 19.6% QoQ, supported by deliberate marketing and promotional campaigns, an improved app experience, and the recovery of engagement following Ramadan seasonality in Q1.
• Group Net Revenue grew 34.5% YoY and 5.2% QoQ to  763.0 million in Q2 2026, with commission revenue increasing 33.2% to  376.3 million and advertising and marketing revenue rising 122.1% to  42.7 million, reflecting continued contribution from the international platforms and the strength of the Group’s diversified monetization model.
• For H1 2026, Group GMV increased 40.0% YoY to  4.8 billion, with total orders up 23.5% to 67.8 million and Net Revenue up 36.1% to  1.5 billion, primarily reflecting Snoonu’s first half-year contribution and continued growth across the Group’s multi-vertical platform.
• Q2 2026 Adjusted EBITDA was  22.5 million (H1 2026:  66.1 million) and Net loss attributable to shareholders was  17.4 million (H1 2026:  26.6 million), reflecting continued deliberate investment in customer acquisition, retention and reactivation in KSA to support momentum and market share recovery, together with launch-phase investment in Snoonu’s international rollout beyond Qatar which delivered continued and strong profitable growth.

Snoonu advances GCC rollout as the Group’s International main operating platform

• • Jahez International GMV reached  1.9 billion and delivered Net Revenue of  637.6 million in H1 2026, with positive Adjusted EBITDA of  19.3 million, supported by Snoonu’s strong growth in Qatar and the scalability of its multi-vertical model.
  • Snoonu launched in Oman during Q2 2026, with a successful soft launch in Nizwa, demonstrating encouraging early momentum across customer adoption, merchant engagement and operational execution. The launch provides a strong platform to expand multi-vertical offerings deeper into Oman’s larger cities.
• Snoonu is progressing its Kuwait rollout, leveraging Jahez’s established merchant relationships and infrastructure. The Group is adapting its commercial model to the new Kuwait regulatory framework, which caps merchant commissions and bans exclusivity, and expects the framework to support broader merchant onboarding onto the Snoonu platform in the coming quarters.

Advanced platforms innovation to deliver a more personalized customer experience

• Enhanced personalization across the Jahez app, helping customers discover relevant options more easily and complete orders through a smoother decision-making journey, contributing to higher engagement and basket value on impacted orders and better promotions spending efficiency through targeting.
• Expanded personalized advertising within search, providing merchants with additional targeted channels to reach customers and increasing visibility on the platform leading to a better conversion.
• Improved cross-selling features, offering customers relevant add-ons and adjacent products before checkout to support higher engagement and order value.
• Launched the Jahez Loyalty Program, modelled on Snoonu’s proven program and adapted to the Jahez identity, rewarding customers with tailored offers and redeemable benefits, strengthening retention and repeat usage.

Eng. Ghassab Bin Salman Bin Mandeel, CEO of Jahez Group, commented:

“Jahez Group delivered strong growth in the first half of 2026. Just as importantly, the second quarter showed improvement in commercial momentum across the Group, with GMV growing 9.7% and orders growing 15.9% versus Q1 2026, supported by our deliberate actions to regain market share, strengthen customer engagement enhancing the Jahez platform experience in KSA and the International operations growth driven by Snoonu first full half-year contribution.

In KSA, we continued to invest in customer acquisition and retention to reinforce our competitive position and rebuild engagement across the customer base. We advanced the Jahez platform through more personalized experiences and launched our loyalty program by the end of the quarter. These initiatives are designed to make Jahez a more valuable and integrated part of our customers’ daily lives, while creating greater value for merchants. Our investments delivered tangible commercial results in the second quarter; we remain disciplined in balancing growth with profitability.

Internationally, Snoonu continues to build momentum as the Group’s primary engine for regional expansion. Qatar delivered continued strong performance, reinforcing the strength of Snoonu’s multi-vertical model, while Snoonu progressed its rollout in Kuwait and successfully launched in Oman, where early momentum has been encouraging. These launches require disciplined upfront investment, but they are important steps in building a scalable, multi-vertical regional platform.

Our strategy is clear and we are gaining momentum in its execution. Our core offering and position in KSA are improving, our international platform across the region is scaling, and we remain focused on creating sustainable long-term value for our customers, merchants, and shareholders.”

Group Financial Summary:

1: Attributable to shareholders of parent company | * Numbers presented may not add up precisely to the totals provided due to rounding

In Q2 2026, Group GMV increased 40.4% YoY to  2.5 billion, driven by a 26.5% increase in orders to 36.4 million and a 11.0% increase in Average Order Value (AOV) to  69.2, primarily reflecting the consolidation of Snoonu in Q4 2025. Commercial momentum improved sequentially, with GMV increasing 9.7% and orders increasing 15.9% compared to Q1 2026. In KSA, Q2 orders increased 19.6% QoQ, with GMV up 11.7%, reflecting improving customer engagement, targeted commercial activity and enhanced merchant monetization.

Net Revenue increased 34.5% YoY to  763.0 million in Q2 2026, supported by the contribution of the international platform, a 33.2% YoY increase in commission revenue to  376.3 million and a 122.1% YoY increase in advertising and marketing revenue to  42.7 million. Gross Profit increased 15.0% YoY to  137.2 million, with gross margin of 18.0% (Q2 2025: 21.0%), reflecting targeted delivery campaigns, lower delivery-fee economics and the higher absolute delivery costs associated with increased order volumes, despite maintaining similar delivery costs per order.

Adjusted EBITDA was  22.5 million in Q2 2026, while Net Loss attributable to shareholders was  17.4 million. Profitability reflected the continued deliberate strategic investment in customer retention and reactivation in KSA to maintain momentum, launch-phase investment in Snoonu’s international rollout, and the impact of competitive market conditions, partly offset by improved delivery-cost efficiency and higher commission monetization. 

For H1 2026, Group GMV increased 40.0% YoY to  4.8 billion, with total orders up 23.5% to 67.8 million and Net Revenue up 36.1% to  1.5 billion. Growth was primarily supported by the momentum regain in KSA and the contribution of Snoonu through the continued scaling of the Group’s international platform, consistent with the strategy outlined in Q1 to expand Jahez’s multi-vertical regional ecosystem. 

KSA Platforms Financial Summary:

1: Attributable to shareholders of parent company | * Numbers presented may not add up precisely to the totals provided due to rounding

The KSA Delivery Platforms segment remained profitable at both the Adjusted EBITDA and net profit levels in Q2 2026 and continued to build sequential momentum through the quarter. Following the Ramadan-impacted first quarter, targeted and deliberate marketing and promotional activity drove a recovery in customer engagement, with a solid increase in orders, monthly active users, and average monthly order frequency, as Jahez recovered market share in KSA sequentially. Stronger engagement combined was reinforced by meaningful progress on monetization, with KSA commission revenue growing 19.2% QoQ supported by a sequential improvement in take rate to 16.5%, together delivering a 5.4% sequential improvement in Net Revenue.

Year-on-year, the segment’s performance reflects the deliberate strategic trade-off underway in KSA. Jahez has continued to rebalance its revenue mix away from delivery fees toward commissions and other monetization streams, while stepping up marketing investment to defend and reclaim market share in a highly competitive environment. This reinvestment cycle in promotional activity drove the year-on-year moderation in revenue and margin but is beginning to translate into the engagement and market-share regain evident in Q2 with a sequential recovery of the GMV and order volumes growth.

 For H1 2026, KSA Delivery Platforms generated Net Revenue of  809.7 million and Adjusted EBITDA of  41.3 million (margin of 5.1%), with improved commission monetization and delivery cost efficiency partially offsetting the impact of lower delivery fees and higher promotional spend versus H1 2025.

Logi, the Group’s logistics operation, reported Adjusted EBITDA of  14.2 million in Q2 2026 (Q2 2025:  2.0 million), with margin expanding to 11.9% (Q2 2025: 1.8%). Operational progress was directionally positive, with gross profit turning positive to  2.6 million (Q2 2025: loss of  2.0 million), supported by continued gains in driver utilization, dispatch optimization and the roll-out of order stacking. 

On a net-income basis, Logi’s loss attributable to shareholders narrowed to  5.1 million in the quarter (Q2 2025:  8.0 million), reflecting the operational gains partly offset by the higher depreciation as the fleet scales. For H1 2026, Logi generated Adjusted EBITDA of  22.7 million (H1 2025:  6.5 million) and continues to be an important operational lever for improving unit economics across the Group over time.

International Delivery Platforms Financial Summary

1: Attributable to shareholders of parent company | * Numbers presented may not add up precisely to the totals provided due to rounding

The International Delivery Platforms segment reported Net Revenue of  328.7 million in Q2 2026, compared with  65.3 million in Q2 2025, primarily reflecting the consolidation of Snoonu following the completion of the acquisition in Q4 2025 and continued strong growth in Qatar. Adjusted EBITDA was positive at  7.0 million, compared with a loss of  5.2 million in Q2 2025. On a sequential basis, Net Revenue increased 6.4% and GMV grew 6.9% from Q1 2026, while Adjusted EBITDA moderated comparing to Q1 2026, reflecting increased investment and launch-phase costs associated with Snoonu’s expansion in Kuwait and Oman.

For H1 2026, Net Revenue increased to  637.6 million (H1 2025:  120.7 million) and Adjusted EBITDA reached  19.3 million, compared with a loss of  7.1 million in H1 2025. The first full half-year contribution from Snoonu has materially expanded the scale of Jahez’s international portfolio and supported a positive Adjusted EBITDA contribution from the International Segment.

During the quarter, Jahez continued to execute its international strategy, under which Snoonu serves as the Group’s primary international operating platform. Snoonu launched in Nizwa in Oman during Q2 2026 and Sohar in July 2026, with encouraging early momentum. Expansion into Muscat is expected to follow the soft-launch phase. Snoonu also continued its rollout in Kuwait and is adapting to a new regulatory framework that caps merchant commissions and prohibits exclusivity. The framework is expected to support broader merchant onboarding onto the Snoonu platform and rebalance industry economics in Kuwait over time. 

Other Activities Financial Summary:

1: Attributable to shareholders of parent company | * Numbers presented may not add up precisely to the totals provided due to rounding

The Other Activities segment, which includes Co, Marn, Sol, Red Color investments and other subsidiaries, generated Net Revenue of  19.1 million in Q2 2026, down 22.6% YoY (H1 2026:  41.9 million, down 14.9% YoY), primarily reflecting the ongoing restructuring of Marn and the continued repositioning of the business toward higher-quality merchant cohorts aimed at improving the underlying credit-risk profile. The revenue decline outpaced the reduction in direct costs during the quarter, with segment gross profit turning marginally negative, while continued cost discipline delivered a material year-on-year reduction in operating expenses, partly offsetting the gross profit compression.

Adjusted EBITDA loss widened to  10.0 million in Q2 2026 (H1 2026: loss of  17.2 million; H1 2025: loss of  10.4 million), reflecting the lower revenue contribution from Marn during its ongoing repositioning and continued investment in adjacent service lines. Notwithstanding the wider Adjusted EBITDA loss, net loss attributable to shareholders improved 16.0% YoY to  7.0 million in Q2 2026 (H1 2026: loss of  20.1 million, broadly stable versus H1 2025), primarily reflecting a favorable YoY swing in the segment’s net ECL charge as the Group continued to strengthen receivables management across the segment’s verticals, partly offset by higher depreciation and amortization as adjacent service lines continue to scale.

The Group continues to advance the operational restructuring of Marn, the integration of bundled B2B offerings across Sol, Marn and Co, and continued expansion of Co’s commercial activity. 

Adj. EBITDA Reconciliation

* Numbers presented may not add up precisely to the totals provided due to rounding

*Numbers presented may not add up precisely to the totals provided due to rounding

Additional Information:

• Jahez Group will be hosting an Earnings Call on Monday the 17th of August 2026 at 4:00p.m. KSA time to present financial results for Q2 and H1 2026. For Earnings Call details, please email IR@jahez.net 
• The Interim Consolidated Financial Statements for the six months ended 30 June 2026 will be available through the Jahez Group IR App, in addition to Jahez Group’s IR website through the following link: 

Jahez Group Financial Information

Glossary of Terms:

About Jahez International Company for Information System Technology:

The Group operates several brands and subsidiaries providing on-demand services, q-commerce, last mile delivery, digital solutions and Cloud kitchens and shelving, connecting customers, merchants and delivery partners across 100 cities in the Kingdom in addition to Qatar, Bahrain and Kuwait.

Launched in 2016, Jahez platform was one of the leading forces behind the disruptive shift to online food delivery in the Kingdom, supported by the growing adoption of online delivery as well as the proliferation of mobile devices adoption and delivery culture over the past few years.

In pursuing its goal of expanding its customer and merchant base, Jahez Group developed several service offerings and currently provides a wide array of delivery and logistical services, through its main business streams.

• • Jahez Platform is the heart of the Group’s operations. It serves as a source of orders for merchants with complete logistical support and payment collection processes. Jahez Platform connects merchants, customers, and delivery partners in Saudi Arabia, Bahrain and Kuwait, via a user-friendly mobile application providing a quick, seamless and almost entirely automated end-to-end delivery experience.
  • Jahez Shops (previously PIK Platform) is a quick commerce (q-commerce) business that connects customers with an array of their favorite brands within a period of two to three hours. The Group established PIK in November 2020 to expand its reach beyond food delivery and is now able to provide customers with various retail goods, ranging from fashion and cosmetics to computer hardware and appliances.
  • Snoonu was acquired by the Group during 2025. The transaction of acquiring 76.56% stake of Snoonu was completed in October 2025. Snoonu was founded in 2019, and it is Qatar’s premier technology company and super-app, revolutionizing e-commerce, smart services, and on-demand solutions. Aligned with Qatar’s vision for a diversified, knowledge-based economy, Snoonu drives innovation across delivery, q-commerce, last-mile logistics, and B2B solutions, seamlessly connecting customers, merchants, and partners nationwide. As Qatar’s fastest-growing tech leader, Snoonu is a cornerstone of the country’s digital transformation, championing tech-enabled convenience and empowering communities. Committed to fostering local talent and innovation, Snoonu continues to expand its impact and redefine modern lifestyles.
  • BLU Store was established in 2022 as a joint venture with AlHilal Club Investment Company to provide online services through its “BLU Store” application specialized in selling and marketing products for a variety of different brands.
  • Co, in which the Group acquired a 60% stake back in 2020, and eventually the acquisition of the remaining 40% during Q1 2024, Co is a cloud kitchens and shelving platform providing food businesses with commercial kitchen spaces with no dine-in facilities, to prepare food and sell them, in addition to spaces for storing food & non-food products to be sold via a delivery only model. Cloud kitchens & shelving represent a hallmark of modern ordering trends, with merchants increasingly relying on online delivery as a way to increase their reach without the additional costs of high rent and waiting staff. 
  • Logi was established in 2021 as a market enabler for the e-commerce and delivery industry in general by providing logistical solutions. Logi aims to be a leading power behind the last mile delivery in the Kingdom, and to empower local merchants by reducing operational costs. Logi will also serve as a centralized platform to support the Group in its logistical and operational needs. 

• Red Color was established as the Group’s investment arm in order to pursue its growth objectives. The Group targets investments in technology-related industries which utilize the Group’s existing assets of customers, merchants, and delivery partners.

• Marn helps merchants build their unique ecosystems by developing systems for business owners through various digital solutions that work in conjunction with different service providers and partnerships. This acquisition was in line with the Company’s desire to add more verticals to its activities and continue its growth.
• Sol, in which the group acquired 35%, was launched in 2021 with the aim of providing materials and wholesale sales to restaurants, cafes, hotels (HORECA) and catering companies, in addition to providing a variety of food commodities and complementary tools through easy & effective technical solutions for merchants. 

Summary of the Group Investments:

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