UltraGreen.ai Limited reported a 14% year-on-year increase in underlying net profit to US$63.8 million for the 12 months ended 31 December 2025, buoyed by continued global uptake of its Indocyanine Green (ICG) fluorescence-guided surgery agent and improved pricing across key markets.

Revenue grew 24% YoY to US$142.4 million, while basic earnings per share came in at US$0.19. The company did not declare a dividend. Adjusted EBITDA rose 26% to US$89.4 million, translating to a 62.8% margin, and gross margin held at 85%.

By operation, continuing businesses contributed US$137.9 million in revenue, up 28% YoY, and US$51.1 million in net profit, down 9% after higher operating expenses linked to commercial scale-up in Asia and IPO-related costs. Discontinued UltraLinQ operations added US$4.4 million in sales and a US$24.5 million net profit, chiefly from a US$23.7 million disposal gain booked in August 2025.

Management attributed the top-line advance to a 13% expansion in vial volumes and favourable pricing, especially in the United States and Europe. Operating profit increased 27% to US$84.2 million despite planned spending on regulatory capabilities and market-entry initiatives.

Looking ahead, the company guides for FY2026 revenue between US$170 million and US$190 million, implying 19%–33% YoY growth. It plans to leverage funds from its December Singapore IPO to deepen penetration in new geographies, pursue additional surgical indications for ICG, and reinforce its digital health platform.

Chief executive officer Ravinder Sajwan said the FY2025 performance underscored sustained demand for fluorescence-guided surgery solutions and validated the firm’s pricing strategy. He noted that the absence of debt and an end-period cash balance of US$176.1 million give UltraGreen.ai ample flexibility to finance expansion and invest in R&D.