Presight AI Reports Robust H1 2024 Growth with Strategic Acquisitions and Partnerships

Presight AI Holding PLC has reported robust growth in H1 2024 with a 17.4% increase in revenue and 25.8% rise in EBITDA, bolstered by new contracts and the acquisition of AIQ. The company also formed new partnerships and launched enterprise AI products, targeting sustainable digital transformations.

Abu Dhabi [UAE], August 6 (ANI/WAM): Presight AI Holding PLC has reported strong financial growth for the first half ending June 30, 2024. The company announced a 17.4% increase in year-on-year revenue, reaching AED 603.5 million, and a significant 18.7% revenue surge in Q2 2024, totaling AED 341.4 million.

EBITDA for H1 2024 rose by 25.8% to AED 153.9 million. Q2 2024 saw an impressive 51.2% growth in EBITDA. Pre-tax profit also increased by 39.1% to AED 193.9 million in H1 2024, with a 31.9% rise in Q2. The company's strategic acquisition of a 51% stake in AIQ marked its entry into the energy sector, enabling financial consolidation from June 2024. Excluding AIQ, Presight still achieved double-digit revenue growth and a 24.5% increase in pre-tax profit.

Key milestones in H1 2024 included new partnerships with Intel, Dell, and Obvious Technologies, new AI product launches, and significant contracts with the UAE Accountability Authority, Abu Dhabi Accountability Authority, and the Ministry of Education. Additionally, a joint venture, IntelliGrid, has been formed with Esyasoft Technology to facilitate advancements in electricity, water, and gas sectors. CEO Thomas Pramotedham highlighted the transformational impact of these developments, emphasizing the role of Presight's Chairman, Sultan bin Ahmed Al Jaber, and the commitment of the team. He looks forward to further progress in the year's second half and beyond.

(With inputs from agencies.)