SS Innovations International, Inc. (Nasdaq: SSII), a developer of surgical robotic technologies, announced unaudited financial results for the first quarter ended March 31, 2026, highlighting record revenue driven by robust growth in SSi Mantra installations and procedures. The company reported revenue of $11.1 million, a 116.8% increase from $5.1 million in the same period last year. Gross margin expanded significantly to 48.0% from 21.2%, and gross profit rose 390.0% to $5.3 million from $1.1 million. Net loss narrowed to $3.6 million, or $(0.02) per diluted share, compared to a net loss of $5.7 million, or $(0.03) per diluted share, in the first quarter of 2025.
SSi Mantra surgical robotic system installations totaled 26 in the quarter, up 73.3% from 15 installations in the first quarter of 2025. As of March 31, 2026, the cumulative installed base reached 194 across eleven countries, and cumulative surgeries reached 9,744, including 157 telesurgeries, 482 cardiac procedures, and 161 pediatric surgeries. The company also reported no long-term debt and cash and cash equivalents of $16.0 million, excluding restricted cash.
Dr. Sudhir Srivastava, Chairman and CEO of SS Innovations, commented, “In the first quarter of 2026 we reported record quarterly revenue of $11.1 million, up 117% year over year, driven by robust growth in SSi Mantra installations and procedures. 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.” He noted that the company received regulatory approval for the SSi Mantra for multiple indications in Sri Lanka and Kenya and for telesurgery in Indonesia and the Philippines. Additionally, a private placement in March 2026 provided approximately $18.6 million in gross proceeds to fuel growth initiatives.
Looking ahead, Dr. Srivastava stated, “We aim to fortify our position as a leader in the substantial Indian market, expand our global footprint in underserved countries, and secure entry into the United States and European Union markets. 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.” These milestones could significantly impact the global surgical robotics landscape by introducing a cost-effective, user-friendly alternative to existing systems.
The implications of SS Innovations' growth are substantial for the industry. The company’s focus on affordability and accessibility addresses a critical gap in robotic surgery, particularly in underserved regions. With regulatory approvals expanding in Asia and Africa, and potential entry into the U.S. and EU markets, SS Innovations could disrupt the dominance of established players by offering a modular, multi-arm system with telesurgery capabilities. For business leaders, this signals a shift toward more democratized surgical technology, potentially reducing costs and improving patient outcomes worldwide. The company's strong financial performance and reduced net loss also indicate improving operational efficiency, which may attract further investment.
For more information, visit the company’s website at ssinnovations.com or follow updates on LinkedIn.
