ADX-listed presight clears Dh262m in Q1-2024 revenue as UAE’s AI boom takes hold

ADX-listed presight clears Dh262m in Q1-2024 revenue as UAE’s AI boom takes hold

On net profit before tax, presight’s growth was in the 45.8 per cent trajectory, to total Dh105.6 million. That works out to a pre-tax net margin on 40.3 per cent from 32 per cent a year ago.

When tax provisions come into the equation, net profit comes to Dh95.9 million, up 32.5 per cent. “Our debt-free balance sheet remains robust with cash and equivalents of Dh2 billion (post operating cash outflow of Dh104.4 million in the quarter to support investment in growth and capability), providing significant financial flexibility to fund future organic and inorganic growth,” says a statement.

ADX-listed presight clears Dh262m in Q1-2024 revenue as UAE's AI boom takes hold