Wearable tech startup Ultrahuman has posted a sharp financial turnaround in FY25, delivering 5X year-on-year revenue growth and turning profitable for the first time.
FY25 Snapshot
- Operating revenue: ₹565 crore, up from ₹105 crore in FY24
- Net profit: ₹73 crore, against a loss of ₹38 crore in FY24
- EBITDA margin: 8.76% | ROCE: 12.9%
- Smart rings: 91.3% of revenue at ₹516 crore
The company’s consolidated financials reveal that overall income touched ₹581 crore, fueled largely by demand for its flagship Ring Air smart ring, continuous glucose monitor M1 Live, and Blood Vision testing solution.
Global Footprint
Ultrahuman operates via a holding entity in India with four subsidiaries across the US, UK, and Middle East. The US accounted for 61.4% of revenue, followed by the Middle East (5.9%), UK (4.5%), and India (2.7%). Newer markets like Thailand, Hungary, and Germany also drove sales momentum.
Cost Control and Profitability
Procurement costs stood at ₹95 crore, employee benefits at ₹52 crore, and marketing expenses at ₹142 crore. With disciplined spending, Ultrahuman’s unit economics improved to Re 0.95 spent per Re 1 earned, enabling the swing to profitability.
Strategic Moves
In August 2025, Ultrahuman Healthcare Ltd, its subsidiary, acquired viO HealthTech Ltd to expand into women’s cycle and ovulation tracking, enhancing its smart ring ecosystem.
Backers and Ownership
Ultrahuman has raised over $60 million to date, including a $35 million Series B led by Deepinder Goyal (Zomato). Nexus Ventures holds 17.26%, Blume Ventures also remains invested, while co-founders Mohit Kumar and Vatsal Singhal together own 28.9%.
Market Watch
Ultrahuman’s success signals a wider global appetite for self-quantification devices that move beyond fitness into metabolic health and women’s wellness. With profitability achieved, the next phase will test its ability to compete against giants like Oura and Apple, while scaling new health verticals.
Final Take
Ultrahuman’s story is a rare case of an Indian healthtech startup balancing rapid scale with disciplined profitability. Its evolution from gold-plated growth to sustainable expansion marks a new chapter in India’s wearable tech journey.
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