SS Innovations International (NASDAQ: SSII) has reported record second-quarter 2026 revenue of $13.9 million, marking a 39.4% increase from $10 million in the same period last year. The company attributed this growth to a 30.4% rise in installations of its SSi Mantra surgical robotic system, which reached 30 units during the quarter. Gross profit also saw a 20% increase to $7.1 million, with a gross margin of 50.9%. Despite the revenue growth, the company reported a net loss of $2.7 million, or $0.01 per diluted share, compared to a net loss of $0.3 million in the prior year.
For the first half of the fiscal year, revenue surged 65.6% to $25 million, with SSi Mantra installations growing 47.4% to 56 systems. As of June 30, SS Innovations held $13.6 million in cash and cash equivalents and had no long-term debt. The cumulative installed base of SSi Mantra systems reached 224 across 12 countries.
The company also reported a significant milestone in its surgical robotics program: 12,272 cumulative procedures using the SSi Mantra as of June 30, including 175 telesurgeries. Notably, SS Innovations completed a robotic telesurgery spanning more than 13,600 miles between Colombia and India, showcasing the system's long-distance capabilities.
Looking ahead, SS Innovations expects the U.S. Food and Drug Administration (FDA) to complete its review of the company’s 510(k) premarket notification for the SSi Mantra by the end of the first quarter of 2027. Additionally, the company believes it can obtain European Union CE marking certification by the end of 2026. These regulatory milestones are critical for expanding the SSi Mantra's availability in major markets.
The strong financial performance and operational progress underscore the growing adoption of SS Innovations' surgical robotic technology. The company's focus on affordability and accessibility aims to democratize robotic surgery, potentially benefiting healthcare systems worldwide.
SS Innovations International develops surgical robotic technologies with a vision to make robotic surgery affordable and accessible to a larger segment of the global population. Its product range includes the proprietary SSi Mantra surgical robotic system and the SSi Mudra surgical instruments, which support various surgical procedures, including cardiac surgery. An American company headquartered in India, SS Innovations plans to expand the global presence of its user-friendly and cost-effective solutions.
For more information, visit the company's newsroom at https://ibn.fm/SSII.
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