UltraGreen.ai Limited reported a 53% year-on-year rise in net profit after tax to US$39.2 million for the six months ended Jun 30 as higher sales volumes and firmer prices for its Indocyanine Green (ICG) fluorescence-guided surgery agent lifted earnings.

Revenue grew 24% YoY to US$87.2 million, while basic earnings per share climbed to 3.56 US cents from a pro-forma 2.33 US cents a year earlier. The board declared an interim dividend of US$0.01 per share and said it has repurchased about one million shares under its buy-back mandate.

By geography, vial volumes rose 11% to roughly 589,511 units. The United States contributed 377,616 vials, up 4% YoY; EMEA volumes advanced 24% to 196,165; and Asia-Pacific shipments jumped 45% to 15,730 from a lower base. Gross profit increased 27% to US$75.5 million, with gross margin improving two percentage points to 87% as the company benefited from better pricing and a favourable geographic mix. Operating profit gained 11% to US$47.5 million, while adjusted EBITDA rose 16% to US$52.5 million, though the adjusted EBITDA margin eased five percentage points to 60% on higher operating expenses.

UltraGreen closed the half with cash and short-term liquid investments of US$197.6 million, up 12% from end-December, and remained debt-free excluding lease liabilities.

Chief executive officer and executive director Ravinder Sajwan said the first-half showing reflected sustained growth in ICG demand and the full impact of last year’s U.S. price adjustments. He added that second-half revenue is expected to surpass the first half, underpinning guidance for full-year revenue of US$175 million to US$185 million and “double-digit” growth in underlying net profit for FY2026. Sajwan noted that the group will pursue expansion into new markets, extend ICG use to additional procedures such as wound care, and advance its quantification software toward regulatory approval. The company also intends to keep returning cash to shareholders through semi-annual dividends and ongoing share buybacks, subject to performance and market conditions.