Riyadh – Mubasher: Arab Sea Information Systems Company swung to a net profit of SAR 1.62 million for the second quarter (Q2) of 2026, against a net loss of SAR 2.70 million during the same period in 2025.

The company attributed the turnaround to a 38.97% surge in quarterly revenue, which reached SAR 14.31 million, driven primarily by increased income from government projects and a 25% reduction in administrative expenses.

For the first half (H1) of 2026, the company narrowed its net loss to SAR 1.68 million from a SAR 4.85 million loss a year earlier.

The independent auditor’s report included a material uncertainty paragraph regarding the group's ability to continue as a going concern. This note highlighted that current liabilities exceeded current assets by SAR 32.50M at the end of the period.

Total shareholders' equity, excluding non-controlling interests, fell by 13.78% year-on-year (YoY) to SAR 103.57 million. Loss per share for the six-month period improved to SAR 0.03 from SAR 0.05 in the prior year.

The company’s accumulated losses decreased to SAR 19.84 million at the end of June 2026, representing 19.80% of its SAR 100 million capital. As of 31 March 2026, the accumulated losses hit SAR 21.45 million.