SS Innovations International, Inc. (Nasdaq: SSII) announced record financial results for the first quarter of 2026, with revenue surging 116.8% to $11.1 million compared to $5.1 million in the same period last year. The company, a developer of affordable surgical robotic technologies, attributed the growth to strong adoption of its SSi Mantra system, with 26 installations in the quarter, up 73.3% from 15 in Q1 2025. Gross margin expanded to 48.0% from 21.2%, and gross profit rose 390.0% to $5.3 million. Net loss narrowed to $3.6 million, or $(0.02) per diluted share, from $5.7 million, or $(0.03) per diluted share, a year earlier.
Dr. Sudhir Srivastava, Chairman and CEO, highlighted the company's progress: "Strong adoption by hospitals and physicians reflects the SSi Mantra’s cutting-edge surgical robotic technology, differentiated features, user friendliness, training capabilities, and cost efficiency." During the quarter, SS Innovations received regulatory approvals for the SSi Mantra in Sri Lanka and Kenya, and for telesurgery in Indonesia and the Philippines. The company also completed a private placement in March 2026, raising approximately $18.6 million in gross proceeds to support growth initiatives. As of March 31, 2026, the company had zero long-term debt and $16.0 million in cash and cash equivalents.
The cumulative installed base of SSi Mantra systems reached 194 across 11 countries, with cumulative surgeries totaling 9,744, including 157 telesurgeries, 482 cardiac procedures, and 161 pediatric surgeries. The company is targeting expansion into the substantial Indian market, underserved countries, and eventual entry into the United States and European Union markets. Dr. Srivastava stated, "We expect the U.S. Food and Drug Administration to complete its review of our 510(k) premarket notification for the SSi Mantra this year. Separately, we continue along the pathway towards a European Union CE marking certification for the SSi Mantra, which we believe we can also obtain in 2026."
The SSi Mantra is a modular, multi-arm system featuring 3 to 5 robotic arms, an open-faced ergonomic surgeon command center, and a large 3D 4K monitor. It supports over 40 types of robotic endo-surgical instruments, including 5mm instruments for pediatric and ENT surgeries. The optional SSi MantrAsana Tele Surgeon Console enables telesurgery capabilities. The company's vision is to democratize access to advanced surgical robotic care globally.
For more information, visit the company's website at ssinnovations.com or follow on LinkedIn.
