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. The growth was fueled by a 30.4% rise in installations of its SSi Mantra surgical robotic system, reaching 30 units in the quarter. The company's gross profit climbed 20% to $7.1 million, with a gross margin of 50.9%, reflecting improved operational efficiency.
The company's net loss for the quarter was $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 increased 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 had a cumulative installed base of 224 SSi Mantra systems across 12 countries.
The company also reported 12,272 cumulative procedures using the SSi Mantra, 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 long-distance capabilities. These milestones underscore the company's commitment to making robotic surgery accessible globally.
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. The company also believes it can obtain European Union CE marking certification by the end of 2026. These regulatory approvals are critical for expanding into major markets and could significantly boost revenue.
The robust financial performance and expanding installation base indicate strong demand for affordable surgical robotic systems. SS Innovations' focus on cost-effective solutions addresses a significant gap in the global healthcare market, where robotic surgery has traditionally been expensive and limited to high-income countries. By targeting emerging markets, the company is poised to capitalize on unmet medical needs.
For more details, view the full press release at https://ibn.fm/nTMso.
