SS Innovations International, Inc. reported unaudited financial results for the fourth quarter and full year ended December 31, 2025, showing substantial growth in revenue and surgical robotic system installations. The company, which develops surgical robotic technologies, filed its Annual Report on Form 10-K with the Securities and Exchange Commission on March 10, 2026.
For the fourth quarter of 2025, revenue increased 79.1% to $14.5 million compared to $8.1 million in the same period of 2024. Gross profit rose 60.7% to $6.4 million, though gross margin decreased to 43.9% from 48.9%. The company reported a net loss of $2.5 million, or $(0.01) per diluted share, compared to a net loss of $1.9 million in the fourth quarter of 2024. SSi Mantra surgical robotic system installations totaled 40 in the quarter, representing an 81.8% increase from 22 installations in the fourth quarter of 2024.
For the full year 2025, revenue increased 105.7% to $42.5 million from $20.6 million in 2024. Gross margin expanded to 46.0% from 40.9%, with gross profit rising 131.2% to $19.5 million. The company reported a net loss of $12.1 million, or $(0.06) per diluted share, compared to a net loss of $19.2 million in 2024. Full-year SSi Mantra installations totaled 103, representing a 119.1% increase from 47 installations in 2024.
As of December 31, 2025, SS Innovations had no long-term debt and cash and cash equivalents totaling $3.2 million, excluding restricted cash. The SSi Mantra cumulative installed base reached 168 systems across ten countries, with cumulative surgeries reaching 7,885. These procedures included 120 telesurgeries, 390 cardiac procedures, and 121 pediatric surgeries.
Dr. Sudhir Srivastava, Chairman and CEO of SS Innovations, stated that the company gained significant market share in India's surgical robotics market during 2025 and expanded into new global geographies. The company progressed along regulatory pathways required for entering the United States and European Union markets and continued to pioneer robotic telesurgery. Dr. Srivastava noted that the company's uplisting to Nasdaq has enhanced market awareness and expanded its investor audience.
After the quarter ended, SS Innovations completed a private placement of common stock that generated approximately $18.6 million in gross proceeds before deducting offering expenses. The company sold 5,774,839 shares of common stock, with directors and executive officers purchasing approximately $5.2 million worth of shares at an average price of $4.00 per share, and non-affiliate investors purchasing approximately $13.4 million worth of shares at $3.00 per share.
The company anticipates that the U.S. Food and Drug Administration will complete its review of the 510(k) premarket notification for the SSi Mantra by mid-2026. SS Innovations also continues along the pathway toward European Union CE marking certification for the SSi Mantra, which it believes can be obtained in 2026. The company submitted its 510(k) premarket notification to the FDA on December 5, 2025, covering multiple indications including general, urological, colorectal, gynecological, and cardiac surgeries.
In subsequent events, on January 6, 2026, the company announced development of five new 5-millimeter surgical instruments for clinical use across multiple specialties including pediatric, cardiac, and head and neck surgery. On March 9, 2026, the company announced completion of the private placement. Earlier in the fourth quarter, on November 6, 2025, SS Innovations announced the successful completion of the first telesurgery performed with the SSi Mantra Tele Surgeon Console.
The SSi Mantra surgical robotic system features 3 to 5 modular robotic arms, an open-faced ergonomic surgeon command center, a large 3D 4K monitor, and utilizes over 40 different types of robotic endo-surgical instruments to support different specialties including cardiac surgery. The system has been clinically validated in India in more than 100 different types of surgical procedures. More information is available at https://ssinnovations.com.
