SS Innovations International (NASDAQ: SSII) has announced record second-quarter 2026 revenue of $13.9 million, a 39.4% increase from $10 million in the same period last year. The growth is driven by a 30.4% rise in installations of its SSi Mantra surgical robotic system, reaching 30 units in the quarter. This performance underscores the company's expanding footprint in the global surgical robotics market, particularly in making robotic surgery more accessible and affordable.
Gross profit for the quarter increased 20% to $7.1 million, with a gross margin of 50.9%. Despite a net loss of $2.7 million, or $0.01 per diluted share, compared to a net loss of $0.3 million a year earlier, the company's revenue trajectory and installation growth highlight its operational momentum. For the first half of 2026, revenue surged 65.6% to $25 million, and SSi Mantra installations rose 47.4% to 56 systems. 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 also reported 12,272 cumulative procedures using the SSi Mantra as of June 30, including 175 telesurgeries. Notably, SS Innovations recently completed a robotic telesurgery spanning more than 13,600 miles between Colombia and India, demonstrating the system's capability for remote surgery. This achievement is particularly significant for expanding surgical access to underserved regions.
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 entering major markets and could significantly boost adoption.
The company's focus on cost-effective surgical robotics positions it to capitalize on the growing demand for minimally invasive surgery. By offering a more affordable alternative to established competitors, SS Innovations aims to penetrate markets that have previously been underserved. The record revenue and installation numbers reflect a strong market response to its value proposition.
For more details, visit the full press release at https://ibn.fm/nTMso.
