Fintech Unicorn Tabby Reports $387M in Revenue From Saudi Unit

The Saudi subsidiary of Tabby has reported a net profit of $55 million on revenue of $378 million for the year ending December 31st, 2025, according to its first independently audited financial statements.

The results cover Tabby Financing Company, the SAMA-licensed entity responsible for the company’s buy now, pay later (BNPL) operations in Saudi Arabia, and represent the first full-year audited disclosure of the business’s financial performance.

Revenue increased by 42% year-on-year from $267 million in 2024, while net income rose by 82% from $30 million, marking the company’s second consecutive year of profitability.

The Saudi unit is considered the largest and most regulated part of Tabby’s operations, which also span the UAE and other markets through separate entities.

The results come as Tabby is widely reported to be preparing for a potential listing on the Saudi stock exchange, with international banks including HSBC, JPMorgan and Morgan Stanley said to be advising on a possible flotation.

According to company statements, the BNPL model continues to expand across e-commerce platforms in Saudi Arabia, with further growth expected in higher-value transactions and offline retail segments.

The audited filing also noted that the company’s net debt reached $689 million, exceeding a regulatory ceiling set by the Saudi Central Bank by $139 million, with approval being sought to raise the limit.