Ultrahuman, the global health technology company behind the Ultrahuman Ring AIR, today announced record FY25 results, establishing itself as the profitability leader among high-growth wearable platforms.
The company combined 5.4× year-on-year revenue growth with positive net income, underscoring that its emerging, high-margin software subscription business has become a material driver of profitability.
Two takeaways for the category
- Profitability leader: Ultrahuman delivered $8.2M in net profit on $64M in operating revenue (FY25), with an EBITDA margin of 8.76% and ROCE of 12.9%. In a category where growth is often subsidized by steep losses, Ultrahuman demonstrates profitable scale at speed.
- Software-led profitability: While subscriptions remain a modest share of topline today ($3.2M in FY25), their outsized margin profile and rising attach rate to a rapidly expanding installed base are now a primary contributor to EBITDA and net profit – marking a structural shift from “hardware-led growth” to a hardware-to-software flywheel. Subscription innovations such as Cycle & Ovulation Pro, powered by OvuSense™ technology, and AFib Detection, the first atrial fibrillation detection on a smart ring, are reshaping how wearables deliver medical-grade value.
FY25 financial highlights
- Revenue from operations: $64M, up 5.4× YoY ($12M in FY24)
- Net profit: $8.2M (profitable FY25)
- Overall income: $65.8M ($12.22M in FY24)
- Margins: EBITDA margin 8.76%; ROCE 12.9%
- Current assets: $61.6M
- Revenue mix: Smart Rings $58.4M (91.3% of revenue; 9.5× growth), Subscriptions $3.2M (+7.4%), Other $2.2M
The profit engine: hardware → software
- Installed-base leverage: Explosive Ring AIR adoption seeds a large, low-CAC funnel for subscription upgrades.
- High-margin layer: Subscription software contributes disproportionately to EBITDA versus its revenue share, lifting blended margins.
- Capital efficiency: Software expands gross margin without commensurate capex, reinforcing free cash generation potential.
“We’re focused on the long-term potential of making continuous health monitoring universally accessible,” said Mohit Kumar, Founder and CEO of Ultrahuman. “Our PowerPlugs software growth — including launches like Cycle & Ovulation Pro with OvuSense™ — proves wearables can go far beyond wellness insights to deliver medical-grade value, all while building a lean, profitable business.”
Ultrahuman is a global health technology company building the world’s most comprehensive wearable ecosystem. Its flagship product, the Ultrahuman Ring AIR, is the world’s most comfortable smart ring – combining cutting-edge hardware with science-backed insights to help people optimize sleep, recovery and movement. One of TIME’s Top 100 Healthtech Companies 2025, Ultrahuman’s innovations include Blood Vision, Ultrahuman M1, Ultrahuman Home, and Cycle & Ovulation Pro, which empower its community to unlock peak potential through continuous, data-driven health insights.
Editor’s note: “Profitability leader among high-growth wearables” reflects Ultrahuman’s FY25 results relative to publicly available peer information as of September 22, 2025, defining “high-growth” as >3× YoY growth on a ≥$11.3M revenue base. Forward-looking statements involve risks and uncertainties.
ultrahuman@maxborgesagency.com
