UltraGreen.ai Limited told investors at the Citi-SGX: ASEAN New Economy Forum on Nov, 18 2025 that its 2024 revenue rose 59.3% year-on-year, driven largely by higher pricing and increased demand for its indocyanine green (ICG) fluorescence imaging agent.

The medical-technology firm recorded a 48.8% net profit margin and a 62.1% adjusted EBITDA margin in 2024, underscoring what management described as improved operational efficiency and supply-chain optimisation.

For the six months to Jun, 30 2025, revenue climbed further, and adjusted EBITDA margin remained above 60%, reflecting ongoing uptake of ICG across 54 markets. Cumulative ICG sales have reached about 5.3 million vials since 2015, supported by a distribution network of more than 55 partners.

UltraGreen.ai said it plans to open offices and add regulatory staff in select Asian countries, expand manufacturing capacity, and roll out AI-powered quantification software that will deliver real-time perfusion assessments during surgery. The company is also targeting additional surgical indications, new diagnostic products, and further diversification of its supply chain into Asia.

Management reiterated that it will fund these initiatives through a mix of debt and equity, while maintaining disciplined capital allocation.