Almoosa Health (4018) reported a net loss of SAR 31.8 million in the third quarter of 2026, compared with a SAR 65.8 million profit a year earlier, despite revenue rising 13.2% to SAR 403.6 million. The company also announced a SAR 0.25-per-share dividend for the quarter.
Derivative valuations weigh on earnings
The company attributed the loss primarily to a non-cash SAR 81.9 million mark-to-market loss on financial derivatives, versus a SAR 14.2 million gain a year earlier. It said the valuation change had no cash impact during the quarter.
Operating profit rose 16.2% to SAR 64.6 million, supported by higher patient volumes and improved operating efficiency. Excluding derivative valuation changes, company-calculated adjusted net profit was SAR 50.1 million, compared with SAR 51.6 million a year earlier. This adjusted measure is separate from the reported net loss.
Nine-month net profit fell 84.9% to SAR 30.3 million, while revenue increased 12.6% to SAR 1.158 billion.
Cash dividend despite the quarterly loss
The board approved a SAR 11.08 million distribution on November 4, equivalent to SAR 0.25 per eligible share. The company said distributable profits support the decision, with its expansion plans also taken into consideration.
Market News perspective
The results underline the importance of separating derivative valuations from hospital operations. Operating-profit growth does not erase the year-on-year decline in adjusted earnings. The operating efficiency of new facilities, expense trends and derivative valuations remain relevant to assessing subsequent reporting periods.
What should investors watch?
The results and dividend announcement were released on November 5, 2026. The company scheduled its results call for 4:30 p.m. Riyadh time that day. Looking ahead, dividend eligibility falls on November 12, with payment starting on November 26, 2026.
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