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Presight Delivers Record-Breaking Financial Performance for FY 2024

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Financial Performance

Presight AI Holding PLC recently announced its financial results for the full year ending December 31, 2024. Presight’s FY 2024 results saw record revenue of AED 2,213 million, an increase of 24.3% compared to FY 2023 as the Company continued to reap the rewards of its comprehensive offering, investments, and growth in international operations.

The strong performance reflected in EBITDA as well, which grew 25.2% YoY to AED 635.4 million due to a favourable deployment mix in FY 2024. At its bottom-line, the Company reported net profit after tax of AED 612.8 million, reflecting an increase of 7.4% YoY in FY 2024, including a maiden year of Corporation Tax.

Presight’s top-line performance came on the back of a growing proportion of multi-year contracts, strong new orders, as well as the Company’s expansion across international markets as it continues to extend its offering to customers globally. On this front, international markets contributed 23.0% of Presight’s revenue and booked a 3.5x increase to AED 508.2 million in FY 2024.

Moreover, Presight’s highly liquid, debt-free balance sheet, with a cash and equivalents balance of AED 1.94 billion in FY 2024, provides ample financial flexibility to support operations and headroom to drive future growth.

His Excellency Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, Chairman of the Board of Directors of Presight commented:

“Presight’s full year results demonstrate strong execution against strategic objectives, namely international expansion, investing in capability and innovation, and growing through value-accretive M&A. At the heart of its business lies a commitment to leverage artificial intelligence to bring transformative benefits, across a diverse range of industries, that define a safer and more sustainable economic future, and I am confident that Presight will continue to create value for all stakeholders in both the near and medium term.”

Thomas Pramotedham, Chief Executive Officer of Presight, commented:

“The past twelve months have been transformational for Presight. From establishing ourselves as a critical AI and digital transformation partner across key state-owned enterprises in the UAE, to supporting governments and large enterprises across four continents in realizing their strategic AI ambitions by adopting ‘Applied Intelligence’ today.

“FY 2024 has been a year of outstanding operational execution, with every metric from orders, revenue, profit and cash exceeding market expectations. Ending the year with an AED 2.99 billion backlog stands us in good stead to drive future growth.

“We made significant additions to our growing portfolio of best-in-class Applied AI products and solutions, including our Presight Enterprise suite, to support large-scale deployment of AI technology.

“We acquired a majority stake in leading AI energy provider, AIQ, and launched ENERGYai as the world’s first Agentic AI Energy Platform which, together with the formation of our IntelliGrid joint venture, will enable Presight to play a pivotal role in the global energy transition.

“These results are a testament of our commitment to use technology and AI to solve complex problems for the advancement of humankind and deliver significant value accretion for all stakeholders. 

“I remain grateful for the wise counsel and visionary leadership of our Board of Directors, as well as the continued passion and dedication of all our colleagues across the Group. The results today speak for themselves, but this is just the beginning. There is so much more we can and will achieve, creating a perpetual impact globally through the responsible and ethical use of AI.”

The 2024 business highlights include:

  • Renewed existing and negotiated new domestic/international contracts with a value of AED 3.6 billion.
  • Forged strong technology partnerships, including global technology leaders such as Microsoft, Dell and Intel, to further enhance our technology portfolio and accelerate ‘Applied Intelligence’ AI projects across the region.
  • Acquired 51% of AIQ, a leading provider of AI solutions in the energy sector.
  • Through AIQ, launched ENERGYai, a first-of-its-kind Agentic AI platform for the Energy sector. ADNOC has committed to deploy ENERGYai across its entire upstream value chain.
  • Formed IntelliGrid, a joint venture between Esyasoft and Presight, which signed a 13-year, AED 1.76 billion preliminary agreement with SOCAR, the state-owned national oil and gas company of Azerbaijan, to implement a state-of-the-art Smart Gas Grid Management System across the entire AzeriGas service area in Azerbaijan.
  • Launched cutting-edge AI and Applied AI products and solutions, including the sector and scale agnostic Presight Enterprise suite and Presight Intelli-Platform underpinning a raft of a scalable, adaptable Smart City solutions.
  • Launched Presight DataHub, the UAE’s first sovereign enterprise data marketplace platform and Presight AI-Startup Accelerator Program.
  • Strengthened membership of our Board of Directors, bringing unrivalled leadership, guidance and expertise across the AI, Technology, and Energy sectors.
  • Received the “UAE AI Data Analytics Innovator of the Year” Award by Dell Technologies.
  • Maintained the highest standards of corporate governance, manifested in the award of nine ISO certifications.

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Delinea Brings Runtime Control for AI Agents to GISEC Global 2026

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Delinea, the identity security platform that governs what humans, machines and AI agents do once they have access, today announced its participation at GISEC Global 2026. Under the theme, “From Access to Action: Governing AI at Runtime,” the company will spotlight the growing need for organisations to govern the actions autonomous AI agents take after access has been granted.

Following its release of new runtime authorisation capabilities for AI agents this summer, Delinea will use GISEC to advance the conversation around runtime authorisation, an approach designed to enforce policy on an agent’s actions within a session, at the time those actions are executed.

As AI agents take on increasingly autonomous roles across databases, cloud environments, infrastructure and business systems, the security challenge is shifting beyond authentication. While an agent may have legitimate access to a system, it can still take an action that exceeds its intended task or creates operational risk. Delinea’s runtime authorisation capabilities enable organisations to apply policy at the point of action — allowing, blocking or escalating activity before it executes.

“AI adoption is moving the identity-security conversation beyond the moment of authentication,” said Mortada Ayad, VP Sales at Delinea. “The question for organisations is no longer simply whether an AI agent can access a critical system. It is whether they can govern what that agent does once it is inside. At GISEC, we want to put that challenge, and the need for runtime control, at the centre of the regional conversation.”

Delinea has strategically adopted a channel-led presence at this year’s show, reflecting its focus on bringing these capabilities to market through the regional partners enterprises rely on to deploy, manage and operationalise complex security programmes. Through its presence at the stands of regional distributor, Shifra, and integrator partner, Defa3, the company will deepen engagement with existing partners, recruit new partners and build the specialist capabilities needed to support secure AI adoption across the region.

The approach builds on the Delinea Partner Advantage Program, launched in July 2026. The program provides partners with clearer rules of engagement, deal protection, tiered incentives and AI-driven enablement, helping them build profitable identity-security practices, while delivering stronger outcomes for customers. It is designed to support selling partners today, with expanding roles planned for managed service providers, global systems integrators, advisory partners and technology partners.

“For a capability this consequential, technology alone is not enough,” Ayad added. “Customers need partners who understand their environment, their risk and how to translate security policy into practical control. Our focus at GISEC is to equip and grow that ecosystem, so organisations can move forward with AI, knowing that authorised access does not become unchecked action.”

Delinea’s runtime authorisation for AI agents enables organisations to govern activity across the systems agents use, including databases, SSH hosts, Kubernetes clusters and cloud consoles. Through just-in-time, task-scoped access, and real-time policy enforcement, organisations can reduce reliance on standing credentials, while maintaining a defensible record of AI-driven activity.

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Tech First Gulf Strengthens its presence in Africa with the appointment of Mustapha Rafiki as General Manager – Maghreb & Francophone Africa

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Tech First Gulf (TFG), a leading value-added technology distributor across the Middle East and Africa, is pleased to announce the appointment of Mustapha Rafiki as General Manager – Maghreb & Francophone Africa. This strategic appointment marks another significant milestone in TFG’s continued regional expansion and reinforces the company’s commitment to strengthening its footprint across Africa.

With over 19 years of experience in the information technology industry, Mustapha brings extensive expertise in business development, channel management, sales leadership, and operational excellence. Throughout his career, he has successfully built and managed high-performing partner ecosystems while driving sustainable business growth across North, West, East, and Central Africa.

Before joining Tech First Gulf, Mustapha served as Head of B2B Africa at Logitech, where he led business operations across multiple African markets, developing strategic go-to-market initiatives and strengthening channel partnerships. Prior to Logitech, he held the position of Country Manager at Canon, where he played a pivotal role in expanding the company’s presence, developing strategic alliances, and accelerating growth across key enterprise and commercial segments.

As TFG continues to expand its operations throughout Africa, Mustapha’s appointment reflects the company’s vision of investing in experienced leadership to unlock new opportunities, deepen vendor and partner relationships, and deliver greater value to customers across the markets.

Under his leadership, TFG aims to accelerate regional growth by strengthening its distribution network, expanding strategic technology alliances, enabling channel partners, and introducing innovative solutions that address the evolving needs of enterprises and public sector organizations across the region. His deep understanding of African markets, combined with his proven leadership, will play a vital role in driving TFG’s next phase of growth.

“We are pleased to welcome Mustapha to Tech First Gulf as we continue our expansion across the region. The markets under his leadership offer tremendous opportunities for growth and innovation, and we remain committed to investing in their future through strong leadership and long-term partnerships. Mustapha’s proven track record, strategic vision, and extensive regional expertise make him the ideal leader to accelerate our growth, strengthen our market presence, and deliver lasting value to our partners and customers,” said Mr. Akashdeep (Sky), Chief Strategy Officer, Tech First Gulf

Commenting on his appointment, Mustapha Rafiki said:

“I am excited to join Tech First Gulf at such an important stage of its growth journey. TFG has built a strong reputation for delivering innovative technology solutions and empowering its partner ecosystem. I look forward to working closely with our vendors, partners, and customers to accelerate growth, expand our market presence, and create lasting value across the region.”

As Tech First Gulf continues its regional expansion strategy, the company remains focused on empowering businesses through world-class technology solutions, strengthening strategic partnerships, and building a future-ready digital ecosystem across India, Middle East and Africa.

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Turnitin Expands AI Writing Detection to Support Arabic Language Submissions

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Turnitin recently announced the launch of its AI writing detection capabilities for Arabic language submissions, marking a significant step in supporting educators and students worldwide. This expansion helps equip Arabic-speaking educators with the tools necessary to safeguard academic integrity and nurture original thinking in the classroom.

As AI adoption among students becomes nearly universal, educators require solutions that promote transparency, rather than surveillance. Turnitin goes beyond simply verifying authorship, its tools support the broader learning journey, and help equip students with the critical skills demanded by today’s workforce.

“By providing Arabic-speaking educators with tools that uphold learning integrity, we ensure that they have solutions designed to support original thought and critical thinking, rather than having LLMs replace it,” said James Thorley, Vice President of APAC and EMEA at Turnitin. “While there is no substitute for knowing a student’s writing style, educational background, and institutional AI policies, this tool gives educators insights into areas where AI may have been used. Ultimately, it opens the door to meaningful, informed conversations about the responsible use of AI.”

AI writing detection for Arabic is now available through Turnitin Originality and as an add-on for iThenticate customers. Like the English, Spanish, and Japanese versions, the feature provides educators with an overall percentage of likely AI-generated content, alongside:

Detection capabilities for the leading large language models, reporting designed with educators in mind and seamless integration into existing customer workflows.

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