SS Innovations International (NASDAQ: SSII) announced record second-quarter 2026 revenue of $13.9 million, a 39.4% increase from $10 million in the same period last year, driven by a 30.4% rise in installations of its SSi Mantra surgical robotic system to 30 units. The company's gross profit climbed 20% to $7.1 million, with a gross margin of 50.9%, while the net loss widened to $2.7 million, or $0.01 per diluted share, compared to a net loss of $0.3 million a year earlier.
For the first half of the year, revenue surged 65.6% to $25 million, and SSi Mantra installations grew 47.4% to 56. As of June 30, SS Innovations held $13.6 million in cash and cash equivalents, with no long-term debt and a cumulative installed base of 224 SSi Mantra systems across 12 countries. The company reported 12,272 cumulative procedures using the SSi Mantra, including 175 telesurgeries, and recently completed a robotic telesurgery spanning more than 13,600 miles between Colombia and India.
Looking ahead, SS Innovations expects the U.S. Food and Drug Administration 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, and the company believes it can obtain European Union CE marking certification by the end of 2026. These milestones could significantly expand market access for the SSi Mantra, which is designed to make robotic surgery more affordable and accessible globally.
The company's growth underscores the increasing demand for cost-effective surgical robotic solutions, particularly in emerging markets. With a focus on cardiac surgery and a broad range of procedures, SS Innovations aims to compete with established players by offering a user-friendly and cost-effective alternative. The successful telesurgery demonstration highlights the system's potential to enable remote surgical expertise, which could be transformative for underserved regions.
Investors will be watching closely as the company approaches regulatory decisions that could unlock the U.S. and European markets. The strong revenue growth and expanding installation base suggest robust commercial traction, but the widening net loss indicates ongoing investment in R&D and market expansion. With no long-term debt, the company has financial flexibility to support its strategic initiatives.
For more information, visit the company's newsroom at https://ibn.fm/SSII.
