ABU DHABI (ALETIHAD)
Presight AI Holding, the Abu Dhabi Securities Exchange-listed artificial intelligence company, reported a 23.5% year-on-year increase in profit after tax to Dh395.2 million for the first nine months of 2026, supported by revenue growth, a favourable business mix and disciplined cost management.
Revenue for the nine-month period rose 23.6% to Dh2.15 billion, while earnings before interest, taxes, depreciation and amortisation (EBITDA) increased 24.8% to Dh471 million, the company said in its financial results announced on Wednesday.
For the third quarter, profit after tax increased 31% to Dh144.5 million, compared with the corresponding period last year. Revenue grew 14.7% to Dh749.2 million, while EBITDA rose 27.7% to Dh168.3 million.
The company's EBITDA margin improved to 22.5% in Q3 2026 from 20.2% a year earlier, reflecting a favourable revenue mix across Presight and AIQ, its energy-focused AI business, together with continued cost discipline.
AIQ contributed Dh184.9 million in revenue during the third quarter, accounting for 24.7% of the group's quarterly revenue.
Presight said its revenue growth was supported by the deployment of national-scale public safety programmes renewed during the second quarter, the continued rollout of AIQ's ENERGYai platform across ADNOC's upstream operations and ongoing multi-year engagements in Kazakhstan, Albania, Jordan, and Africa.
Multi-year contracts accounted for 98.7% of third-quarter revenue, compared with 76.3% in the corresponding period last year, reflecting the company's growing reliance on long-term customer engagements.
Its order backlog stood at Dh4.41 billion as of September 30, an increase of 19.4% year-on-year. Presight also maintained a debt-free balance sheet, with cash and cash equivalents of Dh2 billion.
In the UAE, Presight secured two new government agreements to deploy advanced technologies and intelligent solutions supporting public safety and security initiatives.
The company also entered into a strategic co-operation agreement with the Abu Dhabi Hazardous Materials Management Centre to deploy agentic AI capabilities aimed at improving risk detection, operational monitoring and decision-making in hazardous materials management.
Presight said it continued to expand its sovereign and agentic AI capabilities to address government and enterprise requirements, supporting Abu Dhabi's transition towards AI-native government.
Internationally, the company expanded its engagements in Kazakhstan through a memorandum of understanding with the Ministry of AI and Kazakhtelecom to explore national digital infrastructure.
It also signed a letter of intent with Kazakhstan's Ministry of Transport to evaluate a sovereign AI-powered national intelligence platform.
In addition, Presight secured a long-term contract with Nursultan Nazarbayev International Airport to develop and operate the Digital Smart Airport Astana platform, supporting the modernisation of airport operations, security and passenger services.
In South Korea, Presight signed memoranda of understanding with Gyeonggido Business & Science Accelerator and Dtonic Corporation to explore cross-border AI collaboration, smart-city initiatives and AI-enabled data infrastructure.
The company also expanded its presence in Europe, signing a memorandum of understanding with Greece's Ministry of Digital Governance in October 2026 to explore AI-powered urban analytics and real-time intelligence capabilities for municipal waste management and water network monitoring.
The proposed collaboration also covers broader smart-city applications and public transport safety, supporting Presight's strategy of expanding its presence in the Balkans and developed European markets.
Meanwhile, AIQ commenced its first international commercial deployment in India and advanced pilot programmes in eight additional markets outside the UAE.
AIQ also progressed the development of Genesis, its AI-native operating system designed to coordinate AI agents, data and workflows across the energy sector. Pilot deployments of Genesis are progressing in Kuwait, India, Malaysia and Vietnam.
In Abu Dhabi, Presight hosted its inaugural Future Forum, bringing together 12 international AI companies from the second cohort of its FutureSight accelerator to explore opportunities for commercialising emerging technologies.
Thomas Pramotedham, Chief Executive Officer of Presight, said the company's financial and operational performance positioned it to deliver strong full-year results.
“Our disciplined operational and financial execution positions us well to deliver a strong full-year performance. In the UAE, the trust we have built through delivering national-scale AI programmes is creating opportunities to bring our technologies into new areas of government and critical infrastructure,” Pramotedham said.
“Internationally, our strategy is focused on deepening our presence in established markets while expanding into new geographies where our applied AI capabilities can address complex national and industry challenges.”
He said the company remained confident in its growth trajectory, supported by disciplined execution, responsible innovation and its commitment to long-term shareholder value.
For the full year 2026, the company expects revenue, EBITDA and profit after tax to be within the mid-to-upper end of analyst expectations. Presight also reiterated its medium-term targets for 2025–2029, projecting compound annual growth rates (CAGR) of 20%–25% for organic revenue, 23%–28% for EBITDA and 21%–26% for profit after tax.