Rassan revises revenue and cost figures without profit impact
Rasan Information Technology Company announced that it has made accounting corrections and reclassified some financial items related to revenues and cost of sales for the comparative periods in 2025, aiming to present more accurate financial statements without affecting profits or the financial position. The correction involved reclassifying amounts between revenue and cost of sales, resulting in a proportional increase in revenue for both the six-month and three-month periods ending on June 30, 2025. After the adjustments, the first half of 2025 recorded revenues of 285 million SAR, an increase of 40 million SAR, with growth rates adjusted to 82% from the previous 111%. Similarly, revenue for the second quarter of 2025 was reclassified to 146 million SAR, an increase of 22 million SAR, leading to a combined growth rate of 75% over the two quarters. The company clarified that this procedural adjustment aims to ensure consistent presentation of data and does not impact operational performance. The financial impact will be reflected in future reports without altering the final results, and the company continues to achieve solid profits in the first half of 2026.
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