AI firm wins Dh2.5 billion in domestic orders as backlog rises to Dh4.9 billion.
Dubai: Presight posted a 30.2% year-on-year rise in second-quarter profit after tax to Dh116.8 million, supported by stronger revenue and a record Dh2.5 billion in domestic contract renewals and new agreements.
Revenue for the three months ended June 30 climbed 36.1% to Dh713.2 million, while EBITDA rose 37.4% to Dh143.7 million.
The Abu Dhabi-listed AI and big data analytics company ended the first half with an order backlog of Dh4.9 billion, up 44.3% from the start of the year. The increase provides greater visibility into future revenue from contracts already secured.
Domestic contracts drive growth
Presight secured Dh2.5 billion in domestic orders during the quarter, including renewals of major national programmes and new contracts spanning public safety, non-kinetic defence, mobility, customs, audit and SME enablement.
The company achieved a 100% renewal rate across its major national-level programmes, while multi-year contracts contributed 93.5% of second-quarter revenue.
Our strong Q2 and first-half performance demonstrates the strength and durability of Presight’s growth model amidst a dynamic operating environment.
— Thomas Pramotedham, Chief Executive Officer of Presight
For the first six months of 2026, revenue rose 28.9% year-on-year to Dh1.4 billion, while EBITDA increased 23.2% to Dh302.7 million. Profit after tax climbed 19.5% to Dh250.7 million.
International business expands
International revenue grew 19.1% year-on-year in the second quarter and 39.9% in the first half. Overseas markets accounted for 26.7% of group revenue in H1 2026, up from 24.6% a year earlier.
Growth was supported by continued multi-year deployments across Kazakhstan, Albania, Jordan and Africa. Presight also secured new engagements in Kazakhstan and Montenegro, while AIQ progressed pilot projects in three additional international target markets.
“As we look ahead, we see significant opportunity to strengthen our leadership in the UAE, accelerate our international land-and-expand strategy, and develop the next generation of agentic and sector-specific AI solutions that deliver measurable results at scale,” Pramotedham said.
Dh4.9 billion backlog
Presight ended June with Dh2 billion in cash and cash equivalents and remained debt-free. The company also reported positive operating cash flow of Dh14.3 million for the second quarter.
The company also continued to expand its AI development initiatives, selecting 12 companies for the second cohort of the Presight AI Accelerator Programme.
At the UAE Ministry of Cabinet Affairs’ Agentic Government Retreat, 94 representatives from 24 government entities used Presight’s sovereign AI platform to design, train and deploy 118 AI agents across 21 workflows.
Presight maintained its medium-term guidance, targeting compound annual revenue growth of 20% to 25% between 2025 and 2029. The company is also aiming for EBITDA growth of 23% to 28% and profit after tax growth of 21% to 26% over the same period.
