Dear all Since April, UltraGreen.ai (ULG.SI) has seen its share price retrace 19% from an intraday high of US$1.54 on 27 April to an intraday low of US$1.25 on 18 May. More notably, the stock has fallen around 16% following its 1QFY26 business update — despite announcing regulatory approval for Verdye in Singapore. This naturally raises a key question for investors: Has the market overreacted, or has ULG’s growth story weakened materially? In my view, the latest quarter still supports the broader investment thesis that ULG remains a compelling long-term healthcare growth story, backed by recurring consumables revenue, strong margins and increasing global adoption of fluorescence-guided surgery (“FGS”) technologies. 1QFY26 Highlights & Investment Merits Before diving deeper, readers may refer to my earlier LinkedIn post HERE for a quick overview of ULG’s business segments. Investment Merits

1. A) Broad-based volume growth across geographies 🌎

1QFY26 shipment volumes improved sequentially across both U.S. and non-U.S. markets, suggesting that underlying demand remains healthy despite difficult year-on-year...