Sugar.fit, the healthtech startup focused on diabetes reversal and management, has shown significant operational improvement in the 2024-25 fiscal year. According to financial statements sourced from the Registrar of Companies (RoC), the company’s operating revenue climbed to ₹66.5 crore in FY25, up from ₹37.5 crore in FY24.
The company’s ability to drive a 77% increase in revenue while reducing its net loss highlights a shift toward better unit economics in India’s competitive digital health market.
Financial Performance Snapshot: FY25 vs FY24
Sugar.fit’s growth was supported by a diversified approach to diabetes care, combining continuous glucose monitoring (CGM) technology with personalized coaching.
| Financial Metric | FY24 (Actual) | FY25 (Actual) | Change (%) |
| Operating Revenue | ₹37.5 Crore | ₹66.5 Crore | +77% |
| Total Income | ₹42 Crore | ₹75 Crore | +78.5% |
| Total Expenses | ₹89 Crore | ₹117 Crore | +31.5% |
| Net Loss | ₹47 Crore | ₹42 Crore | -11% |
| Spend to Earn ₹1 | ₹2.37 | ₹1.76 | -25.7% |
Expense Analysis: Ad Spends and Employee Costs
To achieve this scale, Sugar.fit maintained a high but optimized burn rate.
- Advertising & Marketing: In a notable move toward efficiency, advertisement expenses remained flat at ₹34 crore, despite the massive revenue jump. This indicates significantly improved brand recall and lower customer acquisition costs (CAC).
- Employee Benefits: Costs rose by 18% to ₹33 crore, accounting for 28% of the total expenditure as the company scaled its network of health coaches and specialists.
- Material Costs: The cost of materials consumed (likely related to CGM devices and diagnostic kits) jumped to ₹21 crore from a negligible ₹0.6 crore in FY24, reflecting the scale of physical product distribution.
Market Context and Funding
Sugar.fit, backed by MassMutual Ventures, B Capital, and Tanglin Venture Partners, has raised a total of $26 million to date. The startup operates in a “diabetes-central” market like India, competing with players such as BeatO, Breathe Well-Being, and HealthifyMe.
Analysts suggest that the company’s improved “unit basis” spend—reducing from ₹2.37 to ₹1.76 to earn a rupee—is a positive signal for investors looking for a path to break-even by FY27.
Conclusion
Sugar.fit’s FY25 results tell a story of “disciplined growth.” By holding marketing costs steady while nearly doubling revenue, the startup is proving that its tech-driven diabetes management model can scale beyond early adopters. While a ₹42 crore loss remains an “uphill climb,” the narrowing deficit suggests that the company is successfully navigating the transition from a high-burn startup to a sustainable health platform.
