Presight’s 4Q growth holds as mix shifts: AI-powered data analytics firm Presight AI Holding reported net income after tax of AED 345.5 mn in 4Q 2025, up 5.6% y-o-y, on revenue of AED 1.3 bn, up 23.6%, according to its management discussion and analysis report (pdf) and earnings release (pdf). EBITDA rose 11.3% to AED 407.6 mn as margins narrowed on a shift in its deployment mix.

FY revenue also outpaces bottom line: For 2025, net income increased 8.6% y-o-y to AED 665.5 mn, while revenue climbed 36.9% to AED 3.0 bn. On a comparable 9% tax basis, earnings would have grown 16.7%, underscoring the impact of the UAE’s new 15% corporate domestic minimum top-up tax. Full-year EBITDA margin eased to 25.9% from 28.7% a year earlier.

What’s squeezing margins?

Scale is the short answer: “What was historically a software-led business is now evolving into a broader platform deployment,” Senior Director of Investor Relations Roger Tejwani told EnterpriseAM UAE, referring to AIQ, Adnoc’s AI joint venture with G42, in which Presight acquired a 51% stake for USD 350 mn in June 2024. The rollout of AIQ’s multi-year ENERGYai platform for Adnoc includes infrastructure and professional services alongside software, weighing temporarily on margins during the deployment phase — with additional drag from lower interest income and the higher tax rate, he said.

AIQ also now accounts for a quarter of earnings: AIQ contributed 27.4% of 4Q revenue and 33% of quarterly EBITDA, cementing its weight in group results.

But the focus is on diversification: While energy remains central, Tejwani stressed diversification beyond legacy mandates, saying that the company is “broadening its portfolio both domestically and internationally,” pointing to new engagements in Indonesia, Colombia, and adjacent robotics-linked applications — moves that help mitigate vertical concentration risk as the energy platform scales.

International momentum builds

International revenue keeps climbing: Revenue from outside the UAE surged 130% y-o-y to AED 1.2 bn, representing 38.5% of total revenue, up from 23.0% a year earlier. In 4Q alone, international revenue accounted for 46.5% of the total, up from 37.1% in 2024.

This isn’t one-off growth: Some 93% of 2025 revenue came from multi-year contracts. Tejwani noted that early international mandates signed in 2021 are entering renewal phases, where infrastructure is already deployed and revenue becomes more software-weighted, meaning the mix “tends to be more favorable.”

Continued expansion into markets including Malaysia, Azerbaijan, and Tajikistan suggests margin normalization will come — but gradually, Tejwani said.

Execution and capacity

Backlog keeps pace with execution: Presight secured AED 3.4 bn in new orders in 2025 and ended the year with a backlog of AED 3.4 bn as well, up 13% y-o-y and effectively replenishing what it delivered.

Management doesn’t see a delivery ceiling: Headcount has expanded from roughly 250 at IPO to more than 800 employees, largely technical. While hiring and research investment will continue, Tejwani indicated the pace will moderate as platforms become increasingly repeatable across jurisdictions.

Looking ahead

Guidance lifted on organic strength: Presight upgraded its outlook through to 2029, guiding for 20-25% annual revenue growth and 21-26% annual earnings growth. Management stressed the targets are organic and exclude acquisitions, supported by backlog depth and international momentum.

M&A is in focus going forward. With AED 2.2 bn in banknotes and no debt, capital allocation is tilting toward acquisitions. The company has reviewed 80-90 potential investments over the past 12-18 months but is staying selective in light of elevated AI valuations and rapid technology cycles, according to Tejwani.

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