SS Innovations International, Inc. (Nasdaq: SSII), a developer of surgical robotic technologies, announced record financial results for the first quarter of 2026, with revenue surging 116.8% to $11.1 million from $5.1 million in the same period last year. The company's gross margin expanded to 48.0% from 21.2%, and gross profit rose 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 first quarter of 2025.
The strong performance was fueled by a 73.3% increase in SSi Mantra surgical robotic system installations, which totaled 26 in the quarter, up from 15 in the first quarter of 2025. As of March 31, 2026, the cumulative installed base reached 194 systems across eleven countries, with cumulative surgeries hitting 9,744, including 157 telesurgeries, 482 cardiac procedures, and 161 pediatric surgeries. The company also reported long-term debt of $0 and cash and cash equivalents of $16.0 million, excluding restricted cash.
Dr. Sudhir Srivastava, Chairman and CEO of SS Innovations, attributed the growth to the SSi Mantra's differentiated features, user friendliness, training capabilities, and cost efficiency. “Strong adoption by hospitals and physicians reflects the SSi Mantra’s cutting-edge surgical robotic technology,” he said. During the quarter, 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 generated approximately $18.6 million in gross proceeds to support growth initiatives.
Looking ahead, SS Innovations aims to strengthen its position in the Indian market, expand globally into underserved countries, and secure entry into the United States 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 it is also pursuing CE marking certification for the European Union, which it believes can be obtained in 2026. “We are very excited about the growth runway ahead and remain steadfast in our commitment to democratizing access to advanced surgical robotic care,” Dr. Srivastava added.
The SSi Mantra is a modular, multi-arm system with advanced features including 3D 4K visualization, telesurgery capability, and over 40 types of robotic endo-surgical instruments. It has been clinically validated in India for more than 170 different types of surgical procedures. The company's vision is to make robotic surgery affordable and accessible to a larger global population.
For more information, visit the company's newsroom at https://tinyurl.com/ssiinewsroom.
