SS Innovations International (NASDAQ: SSII) reported 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 driven by a 30.4% rise in installations of its SSi Mantra surgical robotic system, reaching 30 units in the quarter. Gross profit climbed 20% to $7.1 million, with a gross margin of 50.9%. The company posted 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.
For the first half of 2026, revenue surged 65.6% to $25 million, while SSi Mantra installations increased 47.4% to 56. As of June 30, SS Innovations held $13.6 million in cash and cash equivalents, with no long-term debt. The cumulative installed base reached 224 SSi Mantra systems across 12 countries.
The company reported 12,272 cumulative procedures using the SSi Mantra as of June 30, including 175 telesurgeries. Notably, SS Innovations completed a robotic telesurgery spanning more than 13,600 miles between Colombia and India, demonstrating the system's remote capabilities.
Looking ahead, SS Innovations expects the U.S. Food and Drug Administration 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 milestones are critical for expanding into major markets.
The record revenue and installation growth highlight the increasing adoption of the SSi Mantra in emerging markets, where affordability and accessibility are key. The company's focus on telesurgery positions it to address surgical disparities globally. With a strong balance sheet and no debt, SS Innovations is well-positioned to fund its regulatory pursuits and commercial expansion.
Investors can access the full press release at https://ibn.fm/nTMso. For the latest news and updates on SSII, visit the company's newsroom at https://ibn.fm/SSII.
