Presight Reports 80% Surge in H1 Revenue, Raises Growth Outlook Amid Expanding Global Footprint

Presight has posted a sharp rise in first-half earnings, with revenue climbing 80.2 per cent to Dhs1.09bn, underpinned by strong domestic demand and rapid international expansion. The company has also upgraded its medium-term growth targets on the back of a swelling order backlog and a rising share of multi-year contracts.

Organic revenue, excluding the contribution from its majority-owned AIQ unit, rose 33.5 per cent year-on-year. Earnings before interest, tax, depreciation and amortisation (EBITDA) advanced 59.6 per cent to Dhs245.5m, while net profit grew 18.8 per cent to Dhs209.7m.

Second-quarter revenue reached Dhs523.9m, up 53.5 per cent, with organic growth accounting for 19.7 per cent. EBITDA for the period rose 45.5 per cent to Dhs104.5m, while net profit increased 11.5 per cent to Dhs89.7m. The figures reflected the introduction of the UAE’s 15 per cent corporate tax rate.

International markets contributed 26.8 per cent of Q2 revenue, a sharp rise from 4.9 per cent a year earlier. New orders worth Dhs304m pushed the company’s backlog to Dhs3.7bn — more than triple the level of the previous year. Presight ended the half-year with Dhs2bn in cash and no debt.

Upgraded Guidance
Presight raised its compound annual growth rate forecast for 2023–2027, now targeting revenue growth of 21–27 per cent (previously 19–25 per cent), EBITDA growth of 17–22 per cent (previously 16–21 per cent), and post-tax profit growth of 7–12 per cent at the current tax rate (previously 6–11 per cent).

Strategic Contracts and Expansion
In the UAE, the firm signed deals with the National Media Office and the Media Council, and agreed on a partnership with the Abu Dhabi Department of Energy to develop AD.WE, an AI-powered national energy and water management platform.

Overseas, Presight advanced its footprint in Asia and Africa. In Malaysia, it signed a major agreement in support of the Madani AI initiative, while in Uganda it prepared to launch a national digital government programme. The company also opened an office in Astana, Kazakhstan, to expand energy sector partnerships through AIQ.

“Our backlog is three times larger than it was a year ago, and our sovereign partnerships continue to deepen,” said CEO Thomas Pramotedham, noting that international expansion remains a key growth driver.

Innovation and Partnerships
The period saw the launch of Presight’s AI-Startup Accelerator and the rollout of new initiatives, including an AI-Policing Suite with Abu Dhabi Police. Post-reporting, it agreed on a joint venture with the Central Bank of the UAE to develop AI-native financial infrastructure and signed an MoU with Dow Jones for AI-driven risk and compliance solutions.

With a debt-free balance sheet and strengthened partnerships, Presight said it is well-positioned to deliver sovereign AI solutions at speed, expand its global presence, and deepen relationships in key markets.