Abdullah Al-Ghamdi, CEO of Al Moammar Information Systems Co. (MIS)
Abdullah Al-Ghamdi, CEO of Al Moammar Information Systems Co. (MIS), said the company’s revenues from data centers are growing, with the value of current agreements and contracts for data center projects approaching SAR 5 billion.
Al-Ghamdi told Argaam that the execution work of these projects began in the first quarter, and the pace of implementation is expected to accelerate in the coming periods, which will positively impact the company’s revenues in upcoming quarters.
Data center operations are likely to account for more than 50% of total business within the next three years, with higher profit margins, in addition to the company’s core business segments, including digital infrastructure, systems solutions (such as AI, data science, and IoT), cybersecurity, direct services, managed services, and platform/application monitoring solutions.
Based on current information, the company maintains its previous forecast of achieving approximately 50% revenue growth in 2026 compared to the previous year.
Regarding financial results, Al-Ghamdi said despite the decline, Q1 results are considered solid compared to the same period last year, which included non-recurring gains exceeding SAR 27 million, including over SAR 12 million from divestments.
He added that the decline in gross profit—from around SAR 82 million to SAR 74 million—came despite these factors, along with subsidiary losses of SAR 12 million and continued financing costs due to business expansion.
The first quarter included a very slight amount of revenues from the first phase of the expansion of data centers under the Saudi Data Center Fund I, whose initial execution began in Q1, with clear operational improvement.
The CEO expects continued growth in core business segments, alongside significant expansion in data center revenues supported by existing contracts and agreements.
He also noted that the total value of awarded contracts in 2026 to date exceeded SAR 800 million, distributed across government and private sectors and covering core operations such as infrastructure, systems solutions, managed services, and cybersecurity.
Investments exceeded SAR 294 million across several areas, with continued investment in subsidiaries operating in fintech and health tech, including MISPay (buy now, pay later), MISConnect (open banking), and the Medical Technical Solutions Co., in line with the board-approved strategy.
On receivables quality, he said adequate provisions have been made based on the expected credit loss model, with no noticeable collection pressure, as collections are progressing well in both government and private sectors.
Abdullah Al-Ghamdi, CEO of Al Moammar Information Systems Co. (MIS)
Abdullah Al-Ghamdi, CEO of Al Moammar Information Systems Co. (MIS), said the company’s revenues from data centers are growing, with the value of current agreements and contracts for data center projects approaching SAR 5 billion.
Al-Ghamdi told Argaam that the execution work of these projects began in the first quarter, and the pace of implementation is expected to accelerate in the coming periods, which will positively impact the company’s revenues in upcoming quarters.
Data center operations are likely to account for more than 50% of total business within the next three years, with higher profit margins, in addition to the company’s core business segments, including digital infrastructure, systems solutions (such as AI, data science, and IoT), cybersecurity, direct services, managed services, and platform/application monitoring solutions.
Based on current information, the company maintains its previous forecast of achieving approximately 50% revenue growth in 2026 compared to the previous year.
Regarding financial results, Al-Ghamdi said despite the decline, Q1 results are considered solid compared to the same period last year, which included non-recurring gains exceeding SAR 27 million, including over SAR 12 million from divestments.
He added that the decline in gross profit—from around SAR 82 million to SAR 74 million—came despite these factors, along with subsidiary losses of SAR 12 million and continued financing costs due to business expansion.
The first quarter included a very slight amount of revenues from the first phase of the expansion of data centers under the Saudi Data Center Fund I, whose initial execution began in Q1, with clear operational improvement.
The CEO expects continued growth in core business segments, alongside significant expansion in data center revenues supported by existing contracts and agreements.
He also noted that the total value of awarded contracts in 2026 to date exceeded SAR 800 million, distributed across government and private sectors and covering core operations such as infrastructure, systems solutions, managed services, and cybersecurity.
Investments exceeded SAR 294 million across several areas, with continued investment in subsidiaries operating in fintech and health tech, including MISPay (buy now, pay later), MISConnect (open banking), and the Medical Technical Solutions Co., in line with the board-approved strategy.
On receivables quality, he said adequate provisions have been made based on the expected credit loss model, with no noticeable collection pressure, as collections are progressing well in both government and private sectors.
