Integrated Diagnostics Holdings (IDHC) Q2 2026 Earnings Report

The call was strongly positive overall. Highlights significantly outweighed the lowlights, with 37% revenue growth, record testing volume, expanding margins, 47% net profit growth, improved Nigeria performance, and rapid Saudi expansion. The main challenges were geopolitical uncertainty, constrained Sudan operations, Saudi Arabia remaining below break-even, higher working capital balances, lower net cash, and the decision not to pay an interim dividend.

For 2026, management is forecasting revenue of EGP 11 billion, gross profit of 46%, EBITDA margin of 37%, and net profit margin of 20%; margins are expected “to have the same margins until the full year of 2026,” with Q3 and Q4 expected “to be resilient” and “a good second half of 2026 with high margins.” Egypt is expected to add “around 50 more branches in H2,” while Saudi Arabia’s plan is to open nine branches this year, with five opened and four to go, and to reach 50 branches in three years; Nigeria is not expected to open more branches, with the focus on increasing revenue, patient footprint, tests, and profitability from existing branches. Management said a 4% price increase implemented during the second quarter “will continue for the rest of the year,” but also said, “We are not planning to do any price increase for the rest of the year,” and confirmed that “for this quarter, there will be no dividend distribution.”