SS Innovations International, Inc. (Nasdaq: SSII) announced unaudited financial results for the first quarter of 2026, reporting record revenue of $11.1 million, a 116.8% increase from $5.1 million in the same period last year. The company attributed the growth to a 73.3% rise in SSi Mantra installations, which totaled 26 in the quarter, and an expanding procedure volume. Gross margin improved significantly to 48.0%, up from 21.2% in Q1 2025, while gross profit surged 390.0% to $5.3 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 prior year.
As of March 31, 2026, the company had no long-term debt and $16.0 million in cash and cash equivalents. The cumulative installed base of SSi Mantra systems reached 194 across eleven countries, with cumulative surgeries totaling 9,744, including 157 telesurgeries, 482 cardiac procedures, and 161 pediatric surgeries. The company also received regulatory approvals for the SSi Mantra in Sri Lanka and Kenya during the quarter, and for telesurgery in Indonesia and the Philippines.
Dr. Sudhir Srivastava, Chairman and CEO, commented, '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 completed a private placement in March 2026, raising approximately $18.6 million in gross proceeds to fuel growth initiatives. Looking ahead, SS Innovations aims to strengthen its position in India, expand in underserved countries, and secure entry into the U.S. and European Union markets. The company expects the U.S. Food and Drug Administration to complete its review of the 510(k) premarket notification for the SSi Mantra this year, and is also pursuing European Union CE marking certification in 2026.
The company’s financial results were filed with the Securities and Exchange Commission on May 13, 2026. More information is available in the company’s newsroom at https://tinyurl.com/ssiinewsroom. SS Innovations, headquartered in Fort Lauderdale, FL, develops innovative surgical robotic technologies with a vision to make robotic surgery affordable and accessible globally. The SSi Mantra system features modular robotic arms, an ergonomic surgeon console, and advanced imaging capabilities, and has been clinically validated in over 170 different surgical procedures in India.
