UltraGreen.ai says it remains focused on maintaining market share in the US amid stiff competition

[SINGAPORE] UltraGreen.ai is still focused on maintaining US market share despite a competitive environment, it said in a Wednesday (Sep 16) bourse filing.

The group is “actively engaging” with distribution partners in the US amid its broader growth strategy. Given how discussions are ongoing, the company noted that it is unable to comment on pricing matters or commercial arrangements.

Its statement on Wednesday comes ahead of its third-quarter financial results, set to be released before market open on Oct 29, where it will offer an update on company developments in the US and progress on various strategic initiatives.

Competition in the US market is set to grow stiffer for UltraGreen.ai, with pharmaceutical company Zydus Lifesciences securing regulatory approval for its indocyanine green dye.

Besides its focus on the US, UltraGreen.ai is also expanding its geographic presence across Asia, Europe and the Middle East, while advancing its imaging and software strategy.

The group has more than 10 years of experience operating across evolving market environments, supported by customer and clinical relationships and manufacturing, supply and distribution capabilities.

On Nov 26, 2025, the surgical-tech firm filed for a US$377.1 million initial public offering on the Singapore Exchange’s mainboard, which later recorded a subscription rate of 4.5 times, with over a thousand valid applications for some 26.5 million shares.

The company’s share price since its listing in December last year, however, has floundered. It slumped to US$0.635 in late August, down 49.6 per cent over a week.

This was a far cry from its offer price of US$1.45.

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The stock ended flat at US$0.555 on Wednesday, prior to the statement.