UltraGreen.ai Surges 24% in Revenue to $142.4M for FY2025, Forecasts $170M-$190M Growth Amid Singapore IPO Success

Singapore-based UltraGreen.ai has reported a impressive 24% revenue growth for FY2025, reaching $142.4 million as of December 31, 2025.

This performance was fueled by a 13% increase in sales volumes and elevated average selling prices, especially in the United States and Europe.

Strong Financial Metrics and Balance Sheet

The company maintained a robust gross margin of 85%, with operating profit rising to $84.2 million despite heightened investments in expansion.

Underlying net profit after tax climbed 14% to $63.8 million, underpinned by a debt-free position and a substantial net cash balance of $176.1 million.

Key Milestones: IPO and Strategic Divestiture

UltraGreen.ai marked a pivotal achievement with its successful IPO on the Singapore Exchange in December 2025, drawing strong uptake from institutional investors backed by Temasek's 65 Equity Partners.

In August 2025, the firm sold its non-core UltraLinQ operations, booking a $23.7 million gain that enhanced its financial flexibility.

Future Outlook and Market Impact

CEO Ravinder Sajwan emphasized the IPO as a milestone while delivering sustained operational strength during the listing process.

Looking forward, UltraGreen.ai projects FY2026 revenue between $170 million and $190 million, propelled by pricing initiatives, business expansion, and entry into new markets.

This growth reflects surging global demand for Indocyanine Green (ICG) in fluorescence-guided surgeries across diverse medical specialties.

With investments targeting commercial scale-up in Asia and regulatory advancements, UltraGreen.ai is poised to transform digital health and surgical precision worldwide.