Knowledge Economic City incurred net losses amounting to SAR 47.62 million in the first nine months (9M) of 2024, an annual leap of 99.41% from SAR 23.88 million.

The revenues stood at SAR 45.96 million in 9M-24, down 26.81% from SAR 62.80 billion in 9M-23, according to the interim financial statements.

Loss per share plunged to SAR 0.14 in 9M-24 from SAR 0.07 in the nine-month period that ended on 30 September 2023.

Income Results for Q3-24

In the third quarter (Q3) of 2024, Knowledge Economic City suffered net losses valued at SAR 8.92 million, marking a 32.79% drop from SAR 13.28 million in Q3-23.

The company’s revenues hiked by 226.28% to SAR 34.85 million in Q3-24, compared to SAR 10.68 million during the same period in 2023.

Quarter-on-quarter (QoQ), the Q3-24 net losses enlarged by 18.42% from SAR 25.11 million in Q2-24, whereas the revenues climbed by 870.13% from SAR 3.59 million.

Accumulated Losses

As of 30 September 2024, the accumulated losses hit SAR 430.54 million, accounting for 13% of the share capital.

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