Careem Super-App Revenue Rises 20% in H1 2026 as Losses Deepen and e& Books It as Discontinued

Careem's super-app business grew revenue in the first half of 2026 but posted wider losses, according to figures reported by majority owner e&, underscoring the cost of building an everything-app in a competitive Gulf market.

Revenue at the super-app rose about 20 percent year on year to 884 million dirhams ($241 million) in the first six months of the year. Operating losses, however, climbed by almost a third to 447 million dirhams, as the company continued to invest across food and grocery delivery, digital payments, courier services and other consumer offerings.

The results follow a strategic retrenchment in Saudi Arabia, where Careem wound down most of its consumer services less than 13 months after launching grocery delivery in Riyadh. Co-founder Abdulla Elyas confirmed a strategic pause that stripped most consumer services from the Saudi app, leaving Rides and Bikes in the market.

In a further signal of the unit's uncertain path, e& has reclassified Careem Technologies as a discontinued operation in its accounts. The separate ride-hailing business remains under the control of Uber Technologies, which consolidated Careem's rides operations after earlier deals reshaped ownership of the group.

Careem was once celebrated as the region's first ride-hailing champion and a pioneer of the Gulf super-app model. The latest numbers highlight the challenge of turning a broad consumer platform into a profitable business as rivals compete on delivery, payments and mobility, and as its corporate parent weighs how much capital to keep committing to the venture.