Presight AI Holding reported record financial results for 2024, with revenue reaching Dh2.2 billion, a 24.3% increase from the previous year. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) rose by 25.2% year-on-year to Dh635.4 million, supported by a favourable deployment mix. Net profit after tax grew by 7.4% to Dh612.8 million, reflecting a solid operational performance despite the introduction of corporate tax.
The company’s growth was driven by an increasing share of multi-year contracts, strong new orders, and continued expansion into international markets. Revenue from operations outside the UAE rose to Dh508.2 million, representing 23% of total revenue and marking a 3.5-fold increase over the previous year.
Presight maintained a highly liquid, debt-free balance sheet with Dh1.94 billion in cash and equivalents, ensuring financial flexibility for future investments. The company ended the year with an order backlog of Dh2.99 billion, positioning it for sustained growth.
During the year, Presight secured new and renewed contracts worth Dh3.6 billion across domestic and international markets. It deepened its technology partnerships by collaborating with global leaders such as Microsoft, Dell, and Intel to accelerate Applied Intelligence AI projects in the region. The company also acquired a 51% stake in AIQ, a provider of AI solutions for the energy sector, and subsequently launched ENERGYai, the world’s first Agentic AI platform for the energy industry.
Presight further expanded its presence in the energy sector by forming IntelliGrid, a joint venture with Esyasoft, which secured a 13-year, Dh1.76 billion preliminary agreement with SOCAR, Azerbaijan’s state-owned oil and gas company, to implement a Smart Gas Grid Management System across the AzeriGas service area.
The company introduced a range of AI-driven solutions, including the Presight Enterprise suite and Presight Intelli-Platform, which provide scalable smart city applications. It also launched Presight DataHub, the UAE’s first sovereign enterprise data marketplace, and the Presight AI-Startup Accelerator Program.
