UltraGreen.ai shares down 9.7% after guiding for lower FY2026 revenue
This comes amid increased uncertainty in the US operating environment and entry of competing products
UltraGreen.ai's shares plummeted 9.7% upon opening on Oct 29, following the company's disclosure that its FY2026 revenue will fall short of expectations. The stock traded at US$0.51 at market open, a 10% decrease from its prior closing price of US$0.565. By 9:08 am, the medtech platform's shares were trading at US$0.54, with a total value of US$184,405 from around 355,500 shares exchanged.
During the Q3 business update, UltraGreen.ai projected its FY2026 revenue to be below the previously anticipated range of US$175 million to US$185 million, with the adverse effect anticipated to persist into FY 2027. The company's Q3 revenue grew by 43.9% to US$44.6 million, up from US$31 million in the same period last year.
The guidance revision is attributed to heightened uncertainty in the US operating environment and the emergence of competing indocyanine green (ICG) products, which have exerted pricing pressures and altered customer purchasing habits. UltraGreen.ai was initially listed on the Singapore Exchange's mainboard in December 2025 at US$1.45.
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