‎Presight eyes AED 4.9B project execution: Exec

Source: Argaam - UAE News
Source link: https://www.argaam.com/en/article/articledetail/id/1930264
Published: 2026-08-18 14:37:00
Discovered by ProcIntel: 2026-08-18 15:16:46
Category: GCC Spotlight
Geography: UAE
Organisations: —
Review status: Pending
Record type: REAL

Summary

‎<img src="https://argaamplus.s3.amazonaws.com/69f2e4ca-049f-4348-9e2e-829027865d51.png" >Adel Al Sharji, Chief Operating Officer at Presight <hr> Adel Al Sharji, Chief Operating Officer at <a href="https://www.argaam.com/ae-ar/companies/adx/presight/overview" target="_blank">Presight</a>, 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.

Procurement Relevance Gate

PASS — score 31.6/100 — evaluated 2026-08-18 15:16:46

Passed on: regulation_sanctions_trade_controls, price_availability_leadtime_demand, geographic_exposure (score 31.6/100, threshold 20.0).

regulation_sanctions_trade_controls (weight 12) — matched on "customs"
price_availability_leadtime_demand (weight 10) — matched on "demand"
geographic_exposure (weight 8) — matched on "1 linked geography"

Initial Signal Assessment ProcIntel's automatic, provisional read of this individual Signal -- Initial Significance and Initial Confidence, computed deterministically before any Event extraction or human review.

A provisional, automatically-computed reading of this individual Signal, before Event extraction or human review. Not a final rating.

Initial Significance: 3 · Material (41.0/100)
Initial Confidence: 2 · Low (37.5/100)
Data sufficiency Whether enough structured evidence exists to trust this Signal's Initial Confidence reading. 'Sufficient' has no cap; 'Partial' and 'Insufficient' cap Confidence until more evidence is available; 'Not Assessed' means the Signal did not pass the Relevance Gate.: Partial
Strongest contributor: Procurement Impact
Limiting factor: Likely Event Severity

Initial Significance Material (41.0/100). Strongest contributor: Procurement Impact (27.0/30 points). Limiting factor: Likely Event Severity (3.0/30 points). Initial Confidence Low (37.5/100, data sufficiency: Partial). Strongest contributor: Source Authority (20.0/40 points). Limiting factor: Corroboration (2.5/25 points).

No likely Event type matched; a low contextual baseline was applied.
No eligible (non-geographic, non-fictional) entities were linked to this Signal.
no matched Event type
no actor entities (only attribution/metadata, if any)
no actor content-derived geography
single source only
Entities were mentioned as context or document attribution rather than as actors in the reported development, so they did not increase Initial Confidence.
Geographies were mentioned only in diplomatic reaction, commentary or background context rather than as the actor, event location or affected party in the reported development, so they did not increase Initial Confidence.
Only source-level geography metadata was available.
Source metadata did not contribute to Initial Confidence.

Methodology signal_scoring_v1 — calculated 2026-08-18 15:16:46.

‎Presight eyes AED 4.9B project execution: Exec

Summary

Procurement Relevance Gate

Initial Signal Assessment ⓘMore about Initial Signal AssessmentProcIntel's automatic, provisional read of this individual Signal -- Initial Significance and Initial Confidence, computed deterministically before any Event extraction or human review.

Initial Signal Assessment ProcIntel's automatic, provisional read of this individual Signal -- Initial Significance and Initial Confidence, computed deterministically before any Event extraction or human review.