SS Innovations International, Inc. reported unaudited financial results for the fourth quarter and full year ended December 31, 2025, showing substantial growth across key metrics. The company, which develops surgical robotic technologies aimed at making robotic surgery affordable and accessible globally, filed its Annual Report on Form 10-K with the Securities and Exchange Commission on March 10, 2026.
For the fourth quarter of 2025, revenue increased 79.1% to $14.5 million compared to $8.1 million in the same period of 2024. Gross profit rose 60.7% to $6.4 million, though gross margin decreased to 43.9% from 48.9% in the prior year quarter. The company reported a net loss of $2.5 million, or $(0.01) per diluted share, compared to a net loss of $1.9 million, or $(0.01) per diluted share, in the fourth quarter of 2024. SSi Mantra surgical robotic system installations totaled 40 during the quarter, representing an 81.8% increase from 22 installations in the fourth quarter of 2024.
Full year 2025 results demonstrated even stronger performance, with revenue increasing 105.7% to $42.5 million from $20.6 million in 2024. Gross margin expanded to 46.0% from 40.9% in the prior year, while gross profit rose 131.2% to $19.5 million. The company reduced its net loss to $12.1 million, or $(0.06) per diluted share, compared to a net loss of $19.2 million, or $(0.11) per diluted share, in 2024. SSi Mantra installations for the full year totaled 103, representing a 119.1% increase from 47 installations in 2024.
As of December 31, 2025, SS Innovations reported no long-term debt and cash and cash equivalents totaling $3.2 million, excluding restricted cash. The cumulative installed base of SSi Mantra systems reached 168 across ten countries, with cumulative surgeries totaling 7,885. These procedures included 120 telesurgeries, 390 cardiac procedures, and 121 pediatric surgeries, demonstrating the system's versatility across medical specialties.
Dr. Sudhir Srivastava, Chairman and CEO of SS Innovations, highlighted the company's market expansion achievements, stating they gained significant share of the surgical robotics market in India and expanded into new global geographies. The company also progressed along regulatory pathways required for entering the United States and European Union markets. Dr. Srivastava noted the uplisting of company shares to Nasdaq has enhanced market awareness and expanded the audience of potential investors.
Following the quarter end, SS Innovations completed a private placement of common stock generating approximately $18.6 million in gross proceeds before deducting offering expenses. The financing included participation from company directors and executive officers as well as non-affiliate investors. Dr. Srivastava indicated these funds would fuel the company's growth in 2026 and beyond, with investments planned for enhancements to the SSi Mantra surgical robotic system and expansion of market capacity.
The company anticipates that the U.S. Food and Drug Administration will complete its review of the 510(k) premarket notification for the SSi Mantra by mid-2026. SS Innovations also continues along the pathway toward European Union CE marking certification, which they believe can be obtained this year. These regulatory milestones could significantly expand the company's addressable market and increase global access to surgical robotic care.
Business highlights from the fourth quarter included the successful completion of the first telesurgery performed with the SSi Mantra Tele Surgeon Console on November 6, 2025, and the submission of a 510(k) premarket notification to the FDA on December 5, 2025, covering multiple surgical indications. Subsequent events in 2026 included the development of five new 5-millimeter surgical instruments for clinical use across multiple specialties and the completion of the private placement financing.
The SSi Mantra surgical robotic system represents a significant development in making robotic surgery more accessible globally. As a modular, multi-arm system with advanced technology features including 3 to 5 modular robotic arms and 3D 4K visualization, the system has been clinically validated in India in more than 100 different types of surgical procedures. The company's progress in telesurgery capabilities and regulatory pathways positions SS Innovations to potentially disrupt traditional surgical robotics markets dominated by higher-cost systems.
For additional information about SS Innovations, visit their website at https://ssinnovations.com. The latest news and updates relating to the company are available at https://tinyurl.com/ssiinewsroom.
