SS Innovations International (NASDAQ: SSII) has reported record second-quarter revenue of $13.9 million, a 39.4% increase year over year, driven by continued adoption of its SSi Mantra surgical robotic system. The company's first-half revenue reached $25.0 million, up 65.6% from the same period in 2025, reflecting accelerating demand for its technology.
During the quarter, SS Innovations installed 30 new SSi Mantra systems, a 30.4% rise from the previous year, bringing the total installed base to 224 systems across 12 countries. Cumulative surgeries performed on the platform reached 12,272, highlighting the system's growing clinical utilization. These figures are pivotal as they demonstrate the company's ability to scale its commercial operations while expanding its global footprint.
The revenue growth was accompanied by a 20.0% increase in gross profit to $7.1 million, though gross margin declined to 50.9% from 59.1% in the year-earlier quarter. For the first half, gross profit rose 77.5% to $12.4 million, with an improved gross margin compared to the first half of 2025. The margin dip in the second quarter may reflect increased costs associated with scaling production and expanding the installed base, but the overall financial trajectory remains positive.
A key driver of future growth lies in regulatory milestones. The company is targeting FDA clearance for SSi Mantra by the first quarter of 2027 and EU CE marking by the end of 2026. Achieving these approvals would open access to two of the world's largest healthcare markets, potentially accelerating adoption and revenue growth. The company's telesurgery achievements are also extending the clinical profile of SSi Mantra, positioning it as a versatile platform for remote surgical procedures.
The installed base growth is the primary commercial driver, as each new system represents a recurring revenue stream from service contracts and instrument sales. With 224 systems currently installed, the company is building a solid foundation for future revenue stability. The recent quarter's performance underscores the market's receptiveness to SSi Mantra, which competes with established players like Intuitive Surgical's da Vinci system but aims to differentiate through cost-effectiveness and advanced features.
As SS Innovations continues to expand its global presence, the upcoming regulatory decisions will be critical catalysts. Investors and healthcare providers will be watching closely to see if the company can convert its strong operational momentum into regulatory approvals that unlock the U.S. and European markets. The second-quarter results provide a clear indication that SS Innovations is on a growth trajectory, but the long-term success will hinge on its ability to navigate the regulatory landscape and sustain its sales momentum.
