Thmanyah Posts SAR 898K Net Profit in 2024 Following Dramatic Turnaround from Loss to Profitability

Thmanyah has reported a net profit of SAR 898,000 for fiscal year 2024, marking a dramatic turnaround from a SAR 19.2 million net loss in 2023.

In 2023, Thmanyah posted revenues of SAR 27.56 million—a 62% increase year‑on‑year—but ended the year with a significant net loss due to operational challenges and margin pressures.

The tide turned in 2024, when revenues soared to SAR 60.5 million, up more than 120%, driven by improved cost management and an expanded customer base.

This strong top‑line growth, coupled with tighter expense controls, enabled Thmanyah to swing to profitability, delivering a net income of SAR 898,000—a milestone achievement that underscores the company’s successful strategic overhaul and renewed financial resilience.