Recent Research

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  FIRST LOOK NOTES

  19 Feb 2025

  Presight AI Holding PLC

  BUY

  Last Closing Price

  AED 2.23

  Target Price

  AED 3.05

  Upside (%)

  +36.77%

  UAE Equity Research - Presight AI Holding PLC 4Q24 - First Look Note

  The Company maintains debt-free balance sheet with healthy cash balance of AED 1.9 Bn during 4Q24, providing financial support for future organic and inorganic growth. Presight AI’s revenue backlog also grew to AED 2.99 Bn in 4Q24 compared to AED 1.58 Bn in 3Q24.

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  EARNINGS CALL INSIGHT

  13 Feb 2025

  Presight AI Holding PLC

  BUY

  Last Closing Price

  AED 2.23

  Target Price

  AED 3.05

  Upside (%)

  +36.77%

  UAE Equity Research - Presight AI Holding PLC 4Q24 - Earnings Call Insight

  Revenue surged by 46.2% YOY to AED 1043 Mn in 4Q24, driven by strong execution on existing contracts, supporting positive organic growth from a robust base. Additionally, AIQ delivered an exceptional performance, further accelerating top-line expansion.

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• 

  FIRST LOOK NOTES

  22 Nov 2024

  Presight AI Holding PLC

  BUY

  Last Closing Price

  AED 2.26

  Target Price

  AED 3.05

  Upside (%)

  +34.96%

  UAE Equity Research - Presight AI Holding PLC 3Q24 - First Look Note

  The Company maintains a debt-free balance sheet with a healthy cash balance of AED 1.6 Bn providing financial support for future organic and inorganic growth. Maintained its medium-term guidance provided in March 2024. Added AED 1.14 Bn worth of contracts to the order book in 9M24 with an order backlog of AED 1.58 Bn in 9M24, ensuring a stable and predictable revenue stream.

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• 

  EARNINGS CALL INSIGHT

  13 Nov 2024

  Presight AI Holding PLC

  BUY

  Last Closing Price

  AED 2.35

  Target Price

  AED 3.05

  Upside (%)

  +29.79%

  UAE Equity Research - Presight 3Q24 - Earnings Call Insight

  Net revenue grew 2.4% YOY to AED 566 Mn in 3Q24, supported by strong revenue growth from AIQ partially offset by deployment re-phasing of one international contract from 3Q24 to 4Q24. Revenue from project services grew 0.5% YOY to AED 554 Mn in 3Q24, while revenue from the sale of hardware and software licenses grew significantly from AED 6 Mn in 3Q23 to AED 13 Mn in 3Q24. Presight generated 85.7% of its revenue within UAE, while 14.3% from outside UAE in 3Q24.

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• 

  FIRST LOOK NOTES

  12 Oct 2024

  Presight AI Holding PLC

  BUY

  Last Closing Price

  AED 2.44

  Target Price

  AED 3.05

  Upside (%)

  +25.00%

  Higher proportion of multi-year contracts and favourable deployment mix benefitted topline

  Revenue and profit before tax saw strong YOY growth, driven by a higher proportion of multi-year contracts, a favorable deployment mix, and a one-month boost from AIQ

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  INITIAL COVERAGE (EQUITIES)

  26 Jul 2024

  Presight AI Holding PLC

  BUY

  Last Closing Price

  AED 2.46

  Target Price

  AED 3.05

  Upside (%)

  +23.98%

  UAE Equity Research - Presight AI Holding PLC - Initiation Coverage

  We initiate coverage on Presight AI Holding PLC (“Presight” or “The Company”) with a Valuation of AED 3.05 per share. Presight AI is the UAE’s leading big data analytics company, formed in 2020 with a focus on the region’s digital transformation through artificial intelligence (AI). It extends its operations to over 15 countries across four continents. The Company’s revenue stood at AED 1.8 Bn in FY2023.

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