SS Innovations International (NASDAQ: SSII) on Tuesday reported record second-quarter 2026 revenue of $13.9 million, a 39.4% increase from $10 million in the prior-year period, driven by a 30.4% rise in installations of its SSi Mantra surgical robotic system to 30 units. The company also posted a 20% increase in gross profit to $7.1 million, with gross margin at 50.9%. Despite the revenue growth, net loss widened to $2.7 million, or $0.01 per diluted share, from a net loss of $0.3 million a year earlier.
The results reflect accelerating commercial momentum for SS Innovations' cost-effective surgical robotics platform. For the first half of 2026, revenue surged 65.6% to $25 million, while SSi Mantra installations climbed 47.4% to 56 systems. As of June 30, the company had $13.6 million in cash and cash equivalents, no long-term debt, and a cumulative installed base of 224 SSi Mantra systems across 12 countries.
Clinical adoption continues to expand, with 12,272 cumulative procedures performed using the SSi Mantra as of June 30, including 175 telesurgeries. Notably, the company recently completed a robotic telesurgery spanning more than 13,600 miles between Colombia and India, demonstrating the system's capability to enable remote surgical expertise across vast distances. This milestone underscores the potential of robotic surgery to bridge healthcare disparities in underserved regions.
Looking ahead, SS Innovations anticipates that the U.S. Food and Drug Administration (FDA) will 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. Regulatory approvals in these major markets would significantly expand the addressable market for the SSi Mantra, positioning SS Innovations to compete with established players in the global surgical robotics arena.
The company's growth comes amid a broader trend of increasing demand for minimally invasive surgical options and a push to make robotic surgery more affordable and accessible worldwide. SS Innovations' strategy focuses on delivering advanced technology at a lower cost compared to traditional robotic systems, which could disrupt the market and enable adoption in hospitals and surgical centers that previously could not afford such technology.
For more details on the company's performance, visit the full press release at https://ibn.fm/nTMso. Investors can also access the latest news and updates on SS Innovations at the company's newsroom at https://ibn.fm/SSII.
