UpHealth Group Limited Annual Report 2025
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Continuing operations | |||
| Administrative expenses$’000 | (6,101) | (6,792) | PDF p. 56 |
| Other operating expenses, net$’000 | (194) | (519) | PDF p. 56 |
| Loss from operating activities$’000 | (6,295) | (7,311) | PDF p. 56 |
| Finance income$’000 | 5,122 | 3,378 | PDF p. 56 |
| Finance costs$’000 | (195) | (688) | PDF p. 56 |
| Net finance income$’000 | 4,927 | 2,690 | PDF p. 56 |
| Loss before tax$’000 | (1,368) | (4,621) | PDF p. 56 |
| Tax expense$’000 | – | – | PDF p. 56 |
| Loss from continuing operations$’000 | (1,368) | (4,621) | PDF p. 56 |
| Discontinued operations | |||
| Loss from discontinued operations, net of tax$’000 | – | (18,102) | PDF p. 56 |
| Profit or loss | |||
| Loss for the year$’000 | (1,368) | (22,723) | PDF p. 56 |
| Other comprehensive income/(loss) after tax; Items that may be reclassified subsequently to profit or loss | |||
| Foreign currency translation differences arising from foreign operations, at nil tax$’000 | 16,998 | (10,689) | PDF p. 56 |
| Foreign currency translation reserve reclassified to profit or loss upon disposal of discontinued operations$’000 | – | 24,033 | PDF p. 56 |
| Other comprehensive income/(loss) after tax; Items that may be reclassified subsequently to profit or loss subtotal | |||
| Subtotal$’000 | 16,998 | 13,344 | PDF p. 56 |
| Other comprehensive income/(loss) after tax; Items that will not be reclassified subsequently to profit or loss | |||
| Revaluation of property, plant and equipment$’000 | – | 4,793 | PDF p. 56 |
| Related income tax$’000 | – | (959) | PDF p. 56 |
| Other comprehensive income/(loss) after tax; Items that will not be reclassified subsequently to profit or loss subtotal | |||
| Subtotal$’000 | – | 3,834 | PDF p. 56 |
| Other comprehensive income/(loss) after tax | |||
| Other comprehensive income for the year, net of tax$’000 | 16,998 | 17,178 | PDF p. 56 |
| Comprehensive income | |||
| Total comprehensive income/(loss) for the year$’000 | 15,630 | (5,545) | PDF p. 56 |
| Loss for the year attributable to | |||
| Owners of the Company$’000 | (1,368) | (22,722) | PDF p. 56 |
| Non-controlling interests$’000 | – | (1) | PDF p. 56 |
| Loss for the year attributable to subtotal | |||
| Subtotal$’000 | (1,368) | (22,723) | PDF p. 56 |
| Total comprehensive income/(loss) for the year attributable to | |||
| Owners of the Company$’000 | 15,630 | (5,544) | PDF p. 56 |
| Non-controlling interests$’000 | – | (1) | PDF p. 56 |
| Total comprehensive income/(loss) for the year attributable to subtotal | |||
| Subtotal$’000 | 15,630 | (5,545) | PDF p. 56 |
| Loss per share | |||
| Basic and diluted loss per share (cents)cents per share | (0.91) | (15.12) | PDF p. 56 |
| Loss per share – Continuing operations | |||
| Basic and diluted loss per share (cents)cents per share | (0.91) | (3.08) | PDF p. 56 |
Original report: PDF p. 56 ↗
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Assets; Non-Current Assets | |||
| Property, plant and equipment$’000 | – | – | PDF p. 55 |
| Right-of-use assets$’000 | – | – | PDF p. 55 |
| Investments in subsidiaries$’000 | – | – | PDF p. 55 |
| Goodwill$’000 | – | – | PDF p. 55 |
| Biological assets$’000 | – | – | PDF p. 55 |
| Other investments$’000 | 662 | 385 | PDF p. 55 |
| Assets; Non-Current Assets subtotal | |||
| Subtotal$’000 | 662 | 385 | PDF p. 55 |
| Assets; Current Assets | |||
| Biological assets$’000 | – | – | PDF p. 55 |
| Other receivables$’000 | 43,726 | 4,763 | PDF p. 55 |
| Cash and bank balances$’000 | 24,679 | 47,886 | PDF p. 55 |
| Assets; Current Assets subtotal | |||
| Subtotal$’000 | 68,405 | 52,649 | PDF p. 55 |
| Assets | |||
| Total assets$’000 | 69,067 | 53,034 | PDF p. 55 |
| Equity and Liabilities; Capital and Reserves | |||
| Share capital$’000 | 40,667 | 40,667 | PDF p. 55 |
| Capital reserve$’000 | (10,450) | (10,450) | PDF p. 55 |
| Foreign currency translation reserve$’000 | 10,268 | (6,730) | PDF p. 55 |
| Total equity$’000 | 67,370 | 51,740 | PDF p. 55 |
| Equity and Liabilities; Non-Current Liabilities | |||
| Deferred tax liabilities$’000 | – | – | PDF p. 55 |
| Equity and Liabilities; Non-Current Liabilities subtotal | |||
| Subtotal$’000 | – | – | PDF p. 55 |
| Equity and Liabilities; Current Liabilities | |||
| Other payables$’000 | 1,572 | 850 | PDF p. 55 |
| Provisions$’000 | 39 | 380 | PDF p. 55 |
| Current tax liabilities$’000 | 86 | 64 | PDF p. 55 |
| Equity and Liabilities; Current Liabilities subtotal | |||
| Subtotal$’000 | 1,697 | 1,294 | PDF p. 55 |
| Equity and Liabilities | |||
| Total liabilities$’000 | 1,697 | 1,294 | PDF p. 55 |
| Total equity and liabilities$’000 | 69,067 | 53,034 | PDF p. 55 |
Original report: PDF p. 55 ↗
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025The Company | 2024The Company | Source |
|---|---|---|---|
| Assets; Non-Current Assets | |||
| Property, plant and equipment$’000 | – | – | PDF p. 55 |
| Right-of-use assets$’000 | – | – | PDF p. 55 |
| Investments in subsidiaries$’000 | 14,007 | 15,945 | PDF p. 55 |
| Goodwill$’000 | – | – | PDF p. 55 |
| Biological assets$’000 | – | – | PDF p. 55 |
| Other investments$’000 | – | – | PDF p. 55 |
| Assets; Non-Current Assets subtotal | |||
| Subtotal$’000 | 14,007 | 15,945 | PDF p. 55 |
| Assets; Current Assets | |||
| Biological assets$’000 | – | – | PDF p. 55 |
| Other receivables$’000 | 2,628 | 1,912 | PDF p. 55 |
| Cash and bank balances$’000 | 153 | 38 | PDF p. 55 |
| Assets; Current Assets subtotal | |||
| Subtotal$’000 | 2,781 | 1,950 | PDF p. 55 |
| Assets | |||
| Total assets$’000 | 16,788 | 17,895 | PDF p. 55 |
| Equity and Liabilities; Capital and Reserves | |||
| Share capital$’000 | 40,911 | 40,911 | PDF p. 55 |
| Capital reserve$’000 | (21,270) | (21,270) | PDF p. 55 |
| Foreign currency translation reserve$’000 | – | – | PDF p. 55 |
| Total equity$’000 | 15,204 | 17,156 | PDF p. 55 |
| Equity and Liabilities; Non-Current Liabilities | |||
| Deferred tax liabilities$’000 | – | – | PDF p. 55 |
| Equity and Liabilities; Non-Current Liabilities subtotal | |||
| Subtotal$’000 | – | – | PDF p. 55 |
| Equity and Liabilities; Current Liabilities | |||
| Other payables$’000 | 1,584 | 739 | PDF p. 55 |
| Provisions$’000 | – | – | PDF p. 55 |
| Current tax liabilities$’000 | – | – | PDF p. 55 |
| Equity and Liabilities; Current Liabilities subtotal | |||
| Subtotal$’000 | 1,584 | 739 | PDF p. 55 |
| Equity and Liabilities | |||
| Total liabilities$’000 | 1,584 | 739 | PDF p. 55 |
| Total equity and liabilities$’000 | 16,788 | 17,895 | PDF p. 55 |
Original report: PDF p. 55 ↗
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Continuing operations | |||
| Administrative expenses$’000 | (6,101) | (6,792) | PDF p. 56 |
| Other operating expenses, net$’000 | (194) | (519) | PDF p. 56 |
| Loss from operating activities$’000 | (6,295) | (7,311) | PDF p. 56 |
| Finance income$’000 | 5,122 | 3,378 | PDF p. 56 |
| Finance costs$’000 | (195) | (688) | PDF p. 56 |
| Net finance income$’000 | 4,927 | 2,690 | PDF p. 56 |
| Loss before tax$’000 | (1,368) | (4,621) | PDF p. 56 |
| Tax expense$’000 | – | – | PDF p. 56 |
| Loss from continuing operations$’000 | (1,368) | (4,621) | PDF p. 56 |
| Discontinued operations | |||
| Loss from discontinued operations, net of tax$’000 | – | (18,102) | PDF p. 56 |
| Income | |||
| Loss for the year$’000 | (1,368) | (22,723) | PDF p. 56 |
| Other comprehensive income/(loss) after tax; Items that may be reclassified subsequently to profit or loss | |||
| Foreign currency translation differences arising from foreign operations, at nil tax$’000 | 16,998 | (10,689) | PDF p. 56 |
| Foreign currency translation reserve reclassified to profit or loss upon disposal of discontinued operations$’000 | – | 24,033 | PDF p. 56 |
| Other comprehensive income/(loss) after tax | |||
| Subtotal, items that may be reclassified subsequently$’000 | 16,998 | 13,344 | PDF p. 56 |
| Other comprehensive income/(loss) after tax; Items that will not be reclassified subsequently to profit or loss | |||
| Revaluation of property, plant and equipment$’000 | – | 4,793 | PDF p. 56 |
| Related income tax$’000 | – | (959) | PDF p. 56 |
| Other comprehensive income/(loss) after tax | |||
| Subtotal, items that will not be reclassified subsequently$’000 | – | 3,834 | PDF p. 56 |
| Other comprehensive income | |||
| Other comprehensive income for the year, net of tax$’000 | 16,998 | 17,178 | PDF p. 56 |
| Total comprehensive income | |||
| Total comprehensive income/(loss) for the year$’000 | 15,630 | (5,545) | PDF p. 56 |
| Loss for the year attributable to | |||
| Owners of the Company$’000 | (1,368) | (22,722) | PDF p. 56 |
| Non-controlling interests$’000 | – | (1) | PDF p. 56 |
| Attributable total$’000 | (1,368) | (22,723) | PDF p. 56 |
| Total comprehensive income/(loss) for the year attributable to | |||
| Owners of the Company$’000 | 15,630 | (5,544) | PDF p. 56 |
| Non-controlling interests$’000 | – | (1) | PDF p. 56 |
| Attributable total$’000 | 15,630 | (5,545) | PDF p. 56 |
Original report: PDF p. 56 ↗
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Cash flows from operating activities | |||
| Loss for the year$’000 | (1,368) | (22,723) | PDF p. 58 |
| Cash flows from operating activities; Adjustments for | |||
| Finance costs$’000 | 195 | 1,465 | PDF p. 58 |
| Finance income$’000 | (5,122) | (3,424) | PDF p. 58 |
| Gain from change in fair value of other investments$’000 | (141) | – | PDF p. 58 |
| Gain on disposal of property, plant and equipment$’000 | – | (88) | PDF p. 58 |
| Loss from change in fair value of biological assets$’000 | – | 9,801 | PDF p. 58 |
| Loss on disposal of discontinued operations$’000 | – | 8,048 | PDF p. 58 |
| Write-down of inventories$’000 | – | 22 | PDF p. 58 |
| Reversal of provision for inventory obsolescence$’000 | – | (272) | PDF p. 58 |
| (Reversal of provision)/provision made, net$’000 | (128) | 587 | PDF p. 58 |
| Tax expense$’000 | – | 62 | PDF p. 58 |
| Cash flows from operating activities | |||
| Operating loss before working capital changes$’000 | (6,564) | (4,879) | PDF p. 58 |
| Cash flows from operating activities; Working capital changes | |||
| Changes in inventories$’000 | – | 5,976 | PDF p. 58 |
| Changes in trade and other receivables$’000 | (68) | (1,546) | PDF p. 58 |
| Changes in biological assets$’000 | – | (8,777) | PDF p. 58 |
| Changes in trade and other payables and provisions$’000 | 312 | (2,267) | PDF p. 58 |
| Changes in deferred income$’000 | – | (38) | PDF p. 58 |
| Cash flows from operating activities | |||
| Cash used in operations$’000 | (6,320) | (11,531) | PDF p. 58 |
| Income tax paid$’000 | – | (178) | PDF p. 58 |
| Net cash used in operating activities$’000 | (6,320) | (11,709) | PDF p. 58 |
| Cash flows from investing activities | |||
| Changes in restricted deposits$’000 | 35,243 | (31,717) | PDF p. 58 |
| Deferred consideration received on disposal of subsidiaries$’000 | 3,969 | – | PDF p. 58 |
| Interest received$’000 | 3,354 | 3,421 | PDF p. 58 |
| Purchase of property, plant and equipment$’000 | – | (439) | PDF p. 58 |
| Proceeds from disposal of property, plant and equipment$’000 | – | 192 | PDF p. 58 |
| Investment acquired$’000 | – | (457) | PDF p. 58 |
| Loan due from a third party$’000 | – | (1,429) | PDF p. 58 |
| Loans granted to 812 Capital LLC and CIMT LLC$’000 | (4,876) | – | PDF p. 58 |
| Repayment of loans from a third party$’000 | 397 | – | PDF p. 58 |
| Advance payments for proposed acquisition of 812 Capital LLC and Center for Innovative Medical Technologies LLC (“CIMT LLC”)$’000 | 35,243 | – | PDF p. 58 |
| Disposal of discontinued operations, net of cash disposed of$’000 | – | 60,593 | PDF p. 58 |
| Net cash from investing activities$’000 | 2,844 | 30,164 | PDF p. 58 |
| Cash flows from financing activities | |||
| Interest paid$’000 | – | (752) | PDF p. 58 |
| Proceeds from borrowings$’000 | – | 7,493 | PDF p. 58 |
| Repayment of borrowings$’000 | – | (2,449) | PDF p. 58 |
| Repayment of lease liabilities$’000 | – | (63) | PDF p. 58 |
| Net cash from financing activities$’000 | – | 4,229 | PDF p. 58 |
| Cash flows | |||
| Net (decrease)/increase in cash and cash equivalents$’000 | (3,476) | 22,684 | PDF p. 58 |
| Cash and cash equivalents at beginning of year$’000 | 21,097 | 2,349 | PDF p. 58 |
| Effects of exchange rate fluctuations on cash held$’000 | 7,058 | (3,936) | PDF p. 58 |
| Cash and cash equivalents at end of year$’000 | 24,679 | 21,097 | PDF p. 58 |
Original report: PDF p. 58 ↗
Page 59 Note A states that the financing liabilities table details changes in Group liabilities arising from financing activities, including cash and non-cash changes; it defines these liabilities as those for which cash flows were, or future cash flows will be, classified in the Group’s consolidated statement of cash flows as financing activities. The note table is reported separately from the primary cash flow statement. It shows 2024 movements and balances through 31 December 2024; it is not a separate primary cash flow statement.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Group, total | 2024Group, total | Source |
|---|---|---|---|
| Loss per share | |||
| Basic and diluted loss per share (cents)cents per share | (0.91) | (15.12) | PDF p. 56 |
| Loss per share – Continuing operations | |||
| Basic and diluted loss per share (cents)cents per share | (0.91) | (3.08) | PDF p. 56 |
Original report: PDF p. 56 ↗
The report presents basic and diluted loss per share together; it states that diluted loss per share is the same as basic loss per share because there were no potential dilutive ordinary shares during the respective periods (physical page 105).
The EPS note states that 2025 loss per share was calculated using a weighted average of 150,272,700 ordinary shares; 2024 used the same weighted average. For 2024, discontinued operations contributed (12.04) cents per share and continuing operations contributed (3.08) cents per share, for total loss per share of (15.12) cents.
The report states that no final dividend was declared or recommended for FY2025 (physical page 41). No dividend or distribution per share/unit amount is reported in the inspected relevant pages.
Where the money comes from
| Item / unit | 2024Discontinued operations – Crops | 2024Discontinued operations – Livestock | 2024Discontinued operations – Others | 2024Discontinued operations – Eliminations | 2024Discontinued operations – Total | 2024Continuing operations – Others | 2024Total (discontinued + continuing) | Source |
|---|---|---|---|---|---|---|---|---|
| 2024 | ||||||||
| External revenue$'000 | 7,011 | 4,593 | 643 | – | 12,247 | – | 12,247 | PDF p. 108 |
| Inter-segment revenue$'000 | 1,061 | – | – | (1,061) | – | – | – | PDF p. 108 |
| Segment revenue$'000 | 8,072 | 4,593 | 643 | (1,061) | 12,247 | – | 12,247 | PDF p. 108 |
| Segment loss before tax$'000 | (5,332) | (4,237) | (423) | – | (9,992) | (4,621) | (14,613) | PDF p. 108 |
| Other operating income/(expenses)$'000 | 316 | 198 | 29 | – | 543 | (519) | 24 | PDF p. 108 |
| Finance income$'000 | 27 | 17 | 2 | – | 46 | 3,378 | 3,424 | PDF p. 108 |
| Finance costs$'000 | (554) | (197) | (26) | – | (777) | (688) | (1,465) | PDF p. 108 |
| Depreciation$'000 | (891) | (133) | (23) | – | (1,047) | – | (1,047) | PDF p. 108 |
| Segment assets$'000 | – | – | – | – | – | 53,034 | 53,034 | PDF p. 108 |
| Capital expenditure$'000 | 375 | 53 | 11 | – | 439 | – | 439 | PDF p. 108 |
| Segment liabilities$'000 | – | – | – | – | – | 1,294 | 1,294 | PDF p. 108 |
Segment loss before tax is used to measure performance.
As a consequence of the disposal of discontinued operations, the Group does not have any operating businesses and reportable segment; information about reportable segments is not presented in 2025.
Geographical information: In 2024, external customers of the Group were located in the Russian Federation. The Group carried out its operations in the Russian Federation and all the Group's non-current assets were located in the Russian Federation. No geographic table is presented.
Row 'Other operating income/(expenses)' label wraps over two lines in the source.
| Item / unit | 2024The Group | Source |
|---|---|---|
| Major customers | ||
| LLC Grain Service$'000 | 1,277 | PDF p. 108 |
| JSC Voronezhsky Milk Combinat$'000 | 3,804 | PDF p. 108 |
| JSC Aston$'000 | 1,874 | PDF p. 108 |
| LLC Rubickon$'000 | 3,441 | PDF p. 108 |
Total of major customers printed as 10,396 (unlabelled total row). Customers relate to the year ended 31 December 2024.
Debt
| Item / unit | 2024Secured bank loans, $'000 | 2024Lease liabilities, $'000 | 2024Total, $'000 | Source |
|---|---|---|---|---|
| Opening balance | ||||
| At 1 January 2024$'000 | 5,910 | 4,258 | 10,168 | PDF p. 59 |
| Cash flows | ||||
| - Proceeds from borrowings$'000 | 7,493 | – | 7,493 | PDF p. 59 |
| - Repayment of borrowings$'000 | (2,449) | – | (2,449) | PDF p. 59 |
| - Repayment of lease liabilities$'000 | – | (63) | (63) | PDF p. 59 |
| - Interest paid$'000 | (559) | (193) | (752) | PDF p. 59 |
| Non-cash changes | ||||
| - Finance costs$'000 | 568 | 209 | 777 | PDF p. 59 |
| - Finance income$'000 | – | (3) | (3) | PDF p. 59 |
| - Modification of right-of-use assets$'000 | – | 21 | 21 | PDF p. 59 |
| - Additions to right-of-use assets$'000 | – | 215 | 215 | PDF p. 59 |
| - Payment-in-kind$'000 | – | (156) | (156) | PDF p. 59 |
| Exchange rates | ||||
| Effect on movement in exchange rates$'000 | (194) | (138) | (332) | PDF p. 59 |
| Closing balance | ||||
| At 31 December 2024$'000 | – | – | – | PDF p. 59 |
The table details changes in the Group's liabilities arising from financing activities, including both cash and non-cash changes. Only 2024 movements are printed; no 2025 column is given.
The Disposal of discontinued operations (Note 23) line is printed over two lines and is not extracted as a row: (10,769) secured bank loans, (4,150) lease liabilities, (14,919) total.
Page 93 states that at 31 December 2025 and 2024 the Group does not have any debt, so the net debt to EBITDA ratio is not presented.
Payout
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Provision 11.6 | The Company currently does not have a fixed dividend policy. Nonetheless, Key Management Personnel will review, inter alia, the Group’s performance in the relevant financial period, projected capital needs and working capital requirements and make appropriate recommendations to the Board on dividend declaration. | Company FY2025 | PDF p. 41 |
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Final dividend FY2025 | There is no final dividend declared or recommended for FY2025 due to the Group’s plans to conserve cash, improving working capital for potential further expansion of the Group, including the acquisition a medical business. | FY2025 | PDF p. 41 |
Extracted from UpHealth Group Limited Annual Report 2025 and checked against the cited pages; see the original report for full context.
Auditor’s report
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Foo Kon Tan LLP | Foo Kon Tan LLP | Group and Company, year ended 31 December 2025 | PDF p. 54 |
| engagement partner | Chin Bo Wui | Group | PDF p. 54 |
| Opinion | properly drawn up in accordance with the provisions of the Companies Act 1967 | Group and Company, year ended 31 December 2025 | PDF p. 51 |
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Emphasis of Matter | We draw attention to Note 31 of the financial statements, which describes the geopolitical uncertainties and economic impact on the Group arising from the ongoing armed conflict between Russia and Ukraine. | Group | PDF p. 51 |
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Key Audit Matters | We have determined that there are no key audit matters to communicate in our report. | Group | PDF p. 51 |
Extracted from UpHealth Group Limited Annual Report 2025 and checked against the cited pages; see the original report for full context.
Group and parent company or bank figures are labelled separately. Parentheses indicate negative amounts; a dash and NA retain the report’s notation.
Comparative figures follow UpHealth Group Limited Annual Report 2025, including retrospective adjustments. Adjusted and reported earnings may have different definitions; refer to each statement’s notes.
These tables show the available extracted figures. The original annual report contains the full statements, notes and definitions.