Broker Name: DBS
Date of Report: 26 Feb 2026

Excerpt from DBS report.

Report Summary

• Ultra Green AI reported FY25 core earnings of USD63.8mn (+14% y/y) on revenue of USD142.4mn (+24% y/y), driven by both higher sales volume and average selling price, with growth across US and non-US markets.
• FY26 revenue guidance is USD170–190mn (+26% y/y at midpoint), reflecting strong underlying momentum, though margins may be tempered by ongoing investments in growth initiatives, talent, and expansion efforts.

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