Presight Q2 profit jumps 30% to Dh116.8 million as AI contracts build

Dubai: Presight reported a 30.2% year-on-year increase in second-quarter profit after tax to Dh116.8 million, helped by higher revenue and a record Dh2.5 billion in domestic renewals and new agreements.

Revenue for the three months ended June 30 rose 36.1% to Dh713.2 million, while EBITDA increased 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% since the start of the year, giving it visibility over future revenue from contracts already secured.

Domestic contracts drive growth

Presight secured Dh2.5 billion in domestic order intake during the quarter, including renewals of major national-level programmes and new contracts covering public safety, non-kinetic defence, mobility, customs, audit and SME enablement.

The company recorded a 100% renewal rate across its major national-level programmes, while multi-year contracts accounted for 93.5% of second-quarter revenue.

For the first six months of 2026, revenue increased 28.9% year-on-year to Dh1.4 billion, while EBITDA rose 23.2% to Dh302.7 million. Profit after tax increased 19.5% to Dh250.7 million.

International business expands

International revenue increased 19.1% year-on-year during the second quarter and 39.9% during the first half. Overseas markets generated 26.7% of group revenue in H1 2026, compared with 24.6% a year earlier.

Growth came from continued multi-year deployments in Kazakhstan, Albania, Jordan and Africa. Presight also added engagements in Kazakhstan and Montenegro, while AIQ advanced pilots in three new international target markets.

"As we look ahead, we see significant opportunity to deepen our leadership in the UAE, accelerate our land-and-expand strategy internationally, and advance the next generation of agentic and sector-specific AI solutions that deliver measurable outcomes at scale," Pramotedham said.

Dh4.9 billion backlog

Presight closed June with Dh2 billion in cash and cash equivalents and remained debt-free. Operating cash flow was positive at Dh14.3 million during the second quarter.

The company also continued expanding its AI development programmes, selecting 12 companies for the second cohort of the Presight AI Accelerator Programme.

During 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 kept its medium-term guidance unchanged. Between 2025 and 2029, the company is targeting revenue compound annual growth of 20% to 25%, EBITDA growth of 23% to 28% and profit after tax growth of 21% to 26%.