Subscriptions lift Ultrahuman margins as FY25 profit hits Rs 73 cr

BENGALURU: Ultrahuman reported a Rs 73 crore profit on Rs 565 crore revenue in the financial year ended March 2024, saying software subscriptions are emerging as a key driver of margins even as hardware remains its mainstay.

Smart rings brought in Rs 516 crore, or 91% of operating revenue, but subscriptions at Rs 29 crore contributed disproportionately to earnings. The company said the shift from “hardware-led growth” to a hardware-to-software model is improving unit economics, with Rs 0.95 spent for every rupee earned. Ebitda margin came in at 8.8%, while return on capital employed stood at 12.9%. Total income was Rs 581 crore, and current assets closed at Rs 544 crore.

“We’ll stay profitable and lean,” founder and CEO Mohit Kumar said, adding that the PowerPlugs software is designed to deliver medical-grade insights beyond basic wellness tracking. The Bengaluru-based startup had launched PowerPlugs, a platform for individual apps and plugins built on top of Ultrahuman's health and wellness data stack, last year.