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The aim is to enable it to develop and offer a variety of products and services in accordance with the terms and conditions of the agreement. Elm signed an agreement with the Ministry of Interior and the Saudi Authority for Data and Artificial Intelligence to develop data resources, explaining that the term of the agreement is 10 years from January 1, 2024, noting that it does not include a fixed total amount.
She added that revenue from products and services covered by the agreement accounted for about 42% of its total revenue in 2023, according to its audited financial statements for the same year.
She explained that this agreement replaces the previous agreement and that the parties will receive a certain percentage of the revenue from the products or services within the scope of the agreement, with the purpose of enabling them to develop and provide a number of products and services in accordance with the terms and conditions of the agreement.
She said the agreement could have a positive impact on revenues during its lifespan as it could lead to expanded development of products or services related to the agreement, noting that there are no related parties.
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