Presight eyes AED 4.9B project execution: Exec

Adel Al Sharji, Chief Operating Officer at Presight.

Adel Al Sharji, Chief Operating Officer at Presight, said the company’s performance in Q2 2026 reflects disciplined execution of operations both locally and internationally.

He added that the results were supported by the effective conversion of its backlog into revenue, continued implementation of multi-year programs, and new demand for sovereign artificial intelligence solutions.

Al Sharji told Argaam in an interview that the backlog reached AED 4.9 billion by end-June 2026, up 44.3% since the start of the year, with multi-year contracts accounting for 93.5% of second-quarter revenue.

He reaffirmed the company’s ongoing target for a compound annual revenue growth rate of 20%-25% for 2025–2029.

Here are details of the interview:

Q: Presight saw strong revenue and EBITDA growth in Q2. What are the key operational factors that drove this performance?

A: The performance reflects disciplined execution across our local and international businesses. In Q2, revenue rose 36.1% YoY to AED 713.2 million, while EBITDA increased 37.4% to AED 143.7 million, and post-tax profit rose 30.2% to AED 116.8 million.

This was underpinned by effective backlog conversion, continued implementation of multi-year programs, and new demand for sovereign AI solutions in strategically important markets.

Operationally, this growth’s breadth is especially significant. We continue to execute solutions in public safety, mobility, customs, audit, SME enablement, and non-traditional security and defense systems, alongside international rollouts in Kazakhstan, Albania, Jordan, and Africa.

This confirms our growth is not tied to one contract, geography or sector, but stems from a repeatable operating model focused on building long-term, trusted partnerships, large-scale rollouts, and expanding into additional use cases where our technology delivers measurable value.

Q: What is the importance of the recently announced AED 2.5 billion in local renewals and contracts during the quarter?

A: The volume of new local orders, totaling AED 2.5 billion, strengthens our future revenue base, while the 100% renewal rate across major national programs affirms the operational importance of the platforms we provide. These platforms support critical government and institutional functions, making trust, security, and business continuity fundamental pillars of our client relationships.

The diversity of new agreements is also encouraging, spanning public safety, non-traditional security and defense systems, mobility, customs, auditing, and SME enablement. This underscores Presight’s ability to adapt a shared base of data, analysis, and artificial intelligence (AI) to meet the requirements of various operating environments, while maintaining standards for governance, national security, and data protection.

Q: International revenue continued to see strong growth. What is Presight’s strategy for expansion beyond the UAE?

A: Our model is based on “market entry then expansion” – we enter markets with a clear national or sector focus, demonstrate our ability to deliver, build local partnerships, and then expand into adjacent business opportunities.

International revenue grew 19.1% YoY in Q2 and 39.9% in H1. This growth was supported by ongoing multi-year deployments in Kazakhstan, Albania, Jordan, and Africa. AIQ applies the same model in the energy and industrial sectors and is moving forward with pilot projects in three new targeted international markets.

Q: What gives Presight confidence in its forecast for the remainder of 2026 and beyond?

A: Our confidence is grounded in the quality of our operations and our clear strategic vision. As of June 30, 2026, our order backlog stood at AED 4.9 billion, up 44.3% since the start of the year, with multi-year contracts accounting for 93.5% of Q2 revenue. This gives us clear visibility on future business, even as we continue to pursue new opportunities in local and international markets.

We also maintain strong financial flexibility, remaining debt-free at period-end, with cash and equivalents at AED 2.0 billion and positive operating cash flows of AED 14.3 million in the quarter. This enables continued investment in product development, capabilities, and market expansion, while maintaining financial discipline.

Our medium-term guidance remains unchanged. For the period 2025-2029, we continue to target a compound annual growth rate (CAGR) for revenue between 20% and 25%, a CAGR for EBITDA between 23% and 28%, and a CAGR for net profit after tax between 21% and 26%. Our current focus is on execution—converting our order backlog into revenue, deepening client relationships, and expanding the scope of applied artificial intelligence solutions that deliver measurable economic and operational value.