UltraGreen.ai Limited, the Singapore-based fluorescence-guided surgery and digital health solutions provider backed by Temasek entity 65 Equity Partners, has delivered 24 percent revenue growth in the financial year ended December 31, 2025 (FY2025) to $142.4 million.
The firm said in a statement on Wednesday that the results were driven by continued global adoption of Indocyanine Green (ICG) use in fluorescence-guided surgeries, across a growing range of procedures and specialties, alongside disciplined commercial execution as well as geographical expansion.
Its revenue growth was underpinned by both volume growth and improved pricing internationally.
Its sales volumes increased 13% year-on-year, while average selling prices rose across key markets, particularly in the United States and Europe.
The firm’s gross margin maintained at 85 percent even as volumes continued to scale.
Its operating profit increased to $84.2 million, despite higher operating expenses associated with planned investments in commercial scale-up particularly in Asia, regulatory
capabilities and initial public offering (IPO)-related costs.
The firm’s reported net profit after tax (NPAT) included net exceptional items of approximately $11.8 million.
Thiswas primarily related to a gain on the sale of discontinued non-core UltraLinQ business operations of approximately $23.7 million in August 2025, partially offset by a tax provision on dividend income of approximately $8.5 million and impairment and other charges totaling approximately US$3.4 million, including impairments related to assets held for sale and loss on disposal of intangible assets.
Excluding these exceptional items, the firm’s underlying NPAT increased 14 percent year-on-year to $63.8 million compared to $56 million.
The group ended FY2025 with no debt and a strong net cash position of $176.1 million, providing financial flexibility to support future growth initiatives.
“FY2025 marked a significant milestone for UltraGreen, culminating in our successful IPO in Singapore in December, with most of the offer being taken up by institutional investors,
“Even as we executed the listing process, we continued to deliver strong operating and financial performance and focus of our business model,” said Ravinder Sajwan, Chief Executive Officer and Executive Director of UltraGreen.ai.
“Looking ahead, we expect to continue delivering strong operational and financial growth, with FY2026 revenue forecast of between $170 million to $190 million,
“This outlook is driven by underlying business expansion, the full-year impact of pricing initiatives implemented in FY2025, and further penetration into new markets,” he added.