In recent years, there has been a lot of interest in the development of organic compounds emitting in the near-infrared (NIR) region due to their stimulating applications, such as biosensing and light detection and ranging (LiDAR). Moreover, a lot of effort has been devoted to finding organic emitters with optical gain in the NIR region for lasing applications. In this paper, we present the ultrafast spectroscopy of an asymmetric AZA-BODIPY molecule that shows relevant photophysical changes moving from a diluted solution to a concentrated solution and to a spin-coated film. The diluted solution and the spin-coated film show a bleaching band and a stimulated emission band in the visible region, while the very concentrated solution displays a broad (150 nm) and long-living (more than 400 ps) optical gain band in the NIR region, centered at 900 nm. Our results pave the way for a new organic laser system in a near-infrared spectral region.