Elm provides digital services to government agencies, businesses, and individuals in Saudi Arabia. In 2025, it expanded its regional footprint through digital transformation agreements in Jordan, Morocco and Bahrain. It also acquired PIF’s full stake in Thiqah, a provider of smart technology solutions, for $907 million. Net profit reached $438.4 million in the first nine months of 2025 and had total assets of $2.9 billion. PIF owns 67% of Elm.