Abu Dhabi: Presight AI Holding Plc announced record financial results for the first quarter ending 31st March 2025, marking the company's strongest quarter to date. The results underscore Presight's rapid transition into a global leader in AI-driven digital transformation, supported by significant financial growth, international expansion, and innovative platform advancements.
According to Emirates News Agency, Presight's Q1 2025 revenue reached AED563.9 million, representing a 115.1% year-on-year increase. The company's international revenue also experienced a substantial five-fold surge to AED127.0 million, highlighting its expanding global reach. Additionally, EBITDA rose sharply by 71.9% year-on-year, amounting to AED141.0 million.
During the quarter, Presight secured AED1.44 billion in new orders, which expanded its backlog to AED3.87 billion, a 29% increase from December 2024. Profit after tax grew by 33.6% year-on-year on a like-for-like 9% tax basis, or by 25.1% including the UAE's Pillar 2 guidance for a global minimum tax, culminating in a 15% corporate tax rate.
The company reported that 98.8% of its total revenue originated from multi-year contracts, demonstrating its long-term customer engagement model and revenue visibility. Presight also generated an operating cash flow of AED60.4 million and maintained a robust cash and equivalents position of AED1.97 billion, remaining entirely debt-free.
Thomas Pramotedham, CEO of Presight, emphasized the company's role as a strategic partner to governments and large enterprises in high-growth markets. He highlighted the company's efforts in supporting digital transformation, optimizing public services, and enhancing national resilience through AI applications. Pramotedham noted rapid growth in Kazakhstan and a new engagement in Albania as key milestones for further European expansion.
With the launch of new AI products, a record backlog, and an increasing international presence, Presight's financial results reinforce its position as a world leader in AI and digital transformation solutions.