Jahez Reports Strong Revenue and Order Growth in H1 2026 Amid Profitability Pressures
Jahez International Group recorded notable growth across key operating and financial indicators during the first half of 2026, supported by regional expansion and higher order volumes, while expansion costs and competitive pressures continued to weigh on bottom-line performance.
The Group’s Gross Merchandise Value (GMV) reached SAR 4.82 billion in H1 2026, compared with SAR 3.44 billion during the same period of 2025, representing 40% growth.
Total orders also increased from 54.9 million to 67.8 million, marking a 23.5% increase, while average order value rose to SAR 71, compared with SAR 62.7 in H1 2025.
Revenue Growth Driven by Regional Expansion
Jahez’s net revenue climbed to SAR 1.49 billion in H1 2026, compared with SAR 1.09 billion a year earlier, representing 36.1% growth.
Second-quarter revenue reached SAR 763 million, up from SAR 567.1 million in Q2 2025.
The international delivery segment was a key contributor to this increase, with second-quarter revenue reaching SAR 328.7 million, compared with SAR 65.3 million during the same period last year, representing growth of more than 403%.
The increase reflects the continued consolidation of Snoonu’s results, alongside expansion into Oman, Kuwait, and Qatar.
Revenue Growth Amid Profitability Pressure
Despite strong revenue growth, operating pressures affected profitability. Gross profit reached SAR 306.4 million in H1 2026, an increase of 24.9%, while the gross profit margin declined to 20.6% from 22.4% a year earlier.
The decline came amid higher costs associated with promotional campaigns and increased order volumes. Adjusted EBITDA fell to SAR 66.1 million, compared with SAR 87.1 million in H1 2025, representing a 24.1% decline.
Net profit attributable to the company’s shareholders turned into a loss of SAR 26.6 million, compared with a profit of SAR 58.9 million a year earlier. The company recorded a SAR 17.4 million net loss in Q2.
Saudi Arabia and Gulf Markets
In Saudi Arabia, net revenue from the domestic delivery segment declined to SAR 809.7 million in H1, down 12.6% year-on-year.
The segment nevertheless generated an operating profit of SAR 41.3 million, despite the impact of competition and promotional pressure on profitability.
Saudi orders reached 36.4 million in Q2, representing quarterly growth of 19.6%, supported by the recovery in activity following Ramadan and increased marketing campaigns.
International Delivery Continues to Expand
Snoonu continued to increase its contribution to the Group’s results, with international delivery revenue reaching SAR 637.6 million in H1, compared with SAR 120.7 million during the same period of 2025.
Adjusted operating profit for the segment also improved to SAR 19.3 million, compared with a loss of SAR 7.1 million a year earlier.
Logi Improves Efficiency
Jahez’s logistics arm, Logi, continued to improve operational efficiency, generating SAR 22.7 million in operating profit during H1, compared with SAR 6.5 million a year earlier, alongside a reduction in net losses.
Meanwhile, revenue from other activities, including Co, Marn, and Sol, declined to SAR 41.9 million, while operating losses reached SAR 17.2 million, driven by the restructuring of Marn and its focus on selected merchant segments, alongside improved expense control and reduced segment losses.
Jahez’s Strategic Direction
Jahez is seeking to strike a stronger balance between growth and profitability through tailored services, investments in loyalty programs, and the use of data solutions and new technologies to increase average order value and improve marketing campaign spending.
The results highlight a key challenge for Jahez: turning strong revenue and order growth into sustainable operating and net profits while managing the cost pressures associated with rapid expansion amid evolving competitive dynamics across Gulf markets.
