Why did Tabuk Agricultural's revenue decline in Q1 2026?

Revenue fell 95.47% to SAR 0.59 million due to lower production, operational restructuring, and inventory reductions.

What was Tabuk Agricultural's loss per share in Q1 2026?

Loss per share was SAR 0.31, compared to SAR 0.18 in the same quarter last year.

What are the key risks facing Tabuk Agricultural according to the audit report?

Auditors highlighted going concern uncertainty due to accumulated losses of 80.47% of capital, a working capital deficit of SAR 164.89 million, and negative operating cash flows.

Did the company improve its performance compared to the previous quarter?

Yes, the net loss improved 74.29% sequentially from SAR 46.74 million in Q4 2025 to SAR 12.01 million.

Tabuk Agricultural Reports SAR 12M Net Loss in Q1 2026

Tabuk Agricultural Development Co. (6040) reported a net loss of SAR 12.01 million for Q1 2026, up 69% from SAR 7.10 million a year earlier. Revenue collapsed 95.47% to SAR 0.59 million due to lower production and restructuring.

Tabuk Agricultural Development Co. (6040) announced its interim financial results for the three months ended March 31, 2026, posting a net loss of SAR 12.01 million, widening 69.05% from SAR 7.10 million in the same period last year. Revenue plunged 95.47% to SAR 0.59 million.

Key Financial Results

Item	Current Quarter	Prior Year Quarter	Change
Revenue	SAR 0.59M	SAR 13.11M	-95.47%
Net Loss	SAR 12.01M	SAR 7.10M	+69.05%
Loss per Share	SAR 0.31	SAR 0.18	+72.22%

Highlights from the Statement

The company attributed the revenue decline to decreased production, operational restructuring, and inventory reductions. The wider net loss was driven by the revenue drop, inventory write-offs, and losses from the sale of shares in associates, despite lower selling and administrative expenses.

On a sequential basis, the net loss improved 74.29% from SAR 46.74 million in the previous quarter, aided by lower cost of revenues, reduced expenses, and absence of asset impairment losses.

Guidance

The company did not provide explicit guidance. However, auditors issued a qualified opinion citing material uncertainty about going concern: accumulated losses reached SAR 315.24 million (80.47% of capital), current liabilities exceeded current assets by SAR 164.89 million, and operating cash flow was negative SAR 7.42 million.

Impact on the Stock

The weak results are likely to pressure Tabuk Agricultural's stock (6040), given persistent losses and liquidity concerns. The auditor also flagged issues regarding the classification of Masader Agricultural Feed Company as discontinued operations.

What This Means for Investors

The results highlight severe structural challenges, with a sharp revenue decline and large accumulated losses. Investors should monitor any restructuring plans or capital injections, and watch for future disclosures on liquidity.