Abu Dhabi’s Bayanat AI wows with 2022 financials, with revenue, profit doubling
With net profit at Dh202m, Bayanat AI is gunning for more
The Bayanat AI asset base grew to Dh1.5 billion against Dh474 million a year ago. The revenue was at Dh788 million, against Dh366.6 million.
“In 2022, we more than doubled revenue and profits for Bayanat, and going forward into 2023, we remain committed to unlocking growth and value,” said Tareq Abdulraheem Al Hosani, Chairman.
The company has been closely associated with some of the autonomous mobility projects flagged off in Abu Dhabi. Work is continuing to turn these commercial possibilities within the public transportation space.
According to Hasan Ahmed Alhosani, CEO of Bayanat, “2022 was a defining year for Bayanat. The momentum has continued into 2023 as we look into expanding our product and services offering to further nurturing our customer base. Last week, we also became the first ADX-listed technology share to be certified as Shari’a compliant, which opens up Bayanat to a broader pool of investors.”