UltraGreen.ai earnings rise 35% to US$75.6 million for FY2025
[SINGAPORE] UltraGreen.ai on Thursday (Feb 26) posted a 36 per cent increase in net profit to US$75.6 million for the 2025 financial year, from US$56 million the year before.
Its revenue was up 24 per cent on the year at US$142.4 million, from US$114.7 million.
The fluorescence-guided surgery and digital health platform said the growth was driven mainly by increases in the amount of indocyanine green (ICG) – a dye used in medical diagnostics – sold in the Americas, as well as the average price per ICG vial.
It noted that the average price per vial was higher in the United States than elsewhere, while the global average cost for each vial climbed 17 per cent year on year in FY2025.
UltraGreen.ai sold its cardiac monitoring business, UltraLinQ, in August 2025, before it listed on the Singapore Exchange. Excluding the contributions from UltraLinQ, its revenue for FY2025 stood at US$137.9 million.
Its full-year net profit includes US$11.8 million in exceptional items, related primarily to a gain of US$23.7 million from the sale of UltraLinQ.
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This was partially offset by a tax provision on dividend income amounting to US$8.5 million, as well as impairment and other charges of US$3.4 million. Among others, these impairments were linked to assets held for sale and losses on the disposal of intangible assets.
The company said the outlook for ICG “remains positive”, citing more than 20,000 peer-reviewed publications and 780 clinical trials – completed or ongoing – that demonstrate the dye’s efficacy and clinical utility.
It added that clinical adoption is growing, with regulatory approvals of Verdye – an injectable form of ICG – expanding to 40 countries, compared with 35 in 2024.
For FY2026, UltraGreen.ai has guided for US$170 million to US$190 million in revenue.
“This outlook is driven by underlying business expansion, the full-year impact of pricing initiatives implemented in FY2025, and further penetration into new markets,” said Ravinder Sajwan, the company’s chief executive officer and executive director.
Shares of UltraGreen.ai finished Thursday 5.6 per cent or US$0.10 lower at US$1.69.
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