SS Innovations International (NASDAQ: SSII) reported record second-quarter 2026 revenue of $13.9 million, up 39.4% from $10 million in the same period last year. The company also saw a 30.4% increase in installations of its SSi Mantra surgical robotic system, reaching 30 units during the quarter. Gross profit rose 20% to $7.1 million, with a gross margin of 50.9%. Despite the revenue growth, the company posted a net loss of $2.7 million, or $0.01 per diluted share, compared with a net loss of $0.3 million a year earlier.
For the first half of 2026, revenue increased 65.6% to $25 million, and SSi Mantra installations rose 47.4% to 56 systems. As of June 30, SS Innovations had $13.6 million in cash and cash equivalents, no long-term debt, and a cumulative installed base of 224 SSi Mantra systems across 12 countries. The company also reported 12,272 cumulative procedures using the SSi Mantra, including 175 telesurgeries. Notably, SS Innovations completed a robotic telesurgery spanning more than 13,600 miles between Colombia and India, demonstrating the system's global reach and technological capabilities.
The company expects the U.S. Food and Drug Administration (FDA) to complete its review of the SSi Mantra's 510(k) premarket notification by the end of the first quarter of 2027. Additionally, SS Innovations believes it can obtain European Union CE marking certification by the end of 2026. These regulatory milestones are critical for expanding the company's market presence and making its robotic surgery technology more widely available.
The strong revenue growth and increasing adoption of the SSi Mantra underscore the rising demand for affordable and accessible robotic surgical systems. SS Innovations aims to make robotic surgery available to a larger segment of the global population, particularly in regions where such technology has been less accessible. The successful completion of a long-distance telesurgery highlights the potential for remote surgical procedures, which could revolutionize healthcare delivery in underserved areas.
The company's financial position remains solid with no long-term debt, positioning it to continue its growth trajectory. However, the increased net loss in the second quarter may raise concerns among investors about profitability in the near term. The company's focus on expanding its installed base and achieving regulatory approvals will be key to future performance.
For more information, the full press release is available at https://ibn.fm/nTMso. Updates and news regarding SS Innovations can be found at https://ibn.fm/SSII.
