Recent Research

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  FIRST LOOK NOTES

  05 Mar 2025

  Alef Education Holding PLC

  BUY

  Last Closing Price

  AED 1.09

  Target Price

  AED 1.70

  Upside (%)

  +55.96%

  UAE Equity Research - Alef Education Holding PLC (ALEFEDT) 4Q24 - First Look Note

  Alef Education is included in MSCI UAE Small Cap Index. The number of paid schools served increased from 82 in 2023 to 167 in 2024 in B2B segment. The Company holds a 25% to 30% market share in the UAE's B2B segment.

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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

  11 Nov 2024

  Alef Education Holding PLC

  BUY

  Last Closing Price

  AED 1.18

  Target Price

  AED 1.70

  Upside (%)

  +44.07%

  UAE Equity Research - Alef Education Holding PLC (ALEFEDT) 3Q24 - First Look Note

  Paid an interim dividend of AED 204 Mn in 3Q24. Alef Education B2G segment has a robust pipeline of strategic clients, featuring two deals in the final stage, worth AED 100 Mn. In the B2B segment doubled the number of paying schools from 82 in 2Q24 to 164 in 3Q24 growing the paying students by 76%.

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