Dubai: Presight AI, a G42 company focused on data analytics and artificial intelligence, reported a 7 per cent increase in revenue in the first half of 2023 at Dh513.9 million.
The company’s first-half profit rose about 5 per cent annually to nearly Dh139 million.
Read more
- ADX's latest listing Presight AI zooms to Dh3.95 in minutes from Dh1.34
- Abu Dhabi’s G42-owned Presight AI wants its data analytics at center of everything – even sports
- G42 appoints Kiril Evtimov as Group Chief Technology Officer
- G42 firm Presight AI IPO pulls in Dh95 billion - Oversubscribed 136 times
Net margin for the same period was up 5.2 per cent to Dh139.4 million, as compared to Dh132.6 million for H1- 2022. Net margin percentage for H1-2023 remained largely flat at 27.1 per cent compared to 27.7 per cent in H1-2022.
“We recorded solid revenue and net margin year on growth and generated healthy cash flows,” said Thomas Pramotedham. “We continue to build our order books with multi-year revenue contracts, both domestic and international.”
“There continues to be tremendous interest and traction with our customers in the UAE and around the world for Presight’s omni-analytics all source platform powered by AI.”
The company generated Dh638.6 million of cash from operations in H1-2023.
