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, driven by a 30.4% rise in installations of its SSi Mantra surgical robotic system to 30 units. The company's gross profit climbed 20% to $7.1 million, with a gross margin of 50.9%. Despite the revenue growth, 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 systems. As of June 30, the company held $13.6 million in cash and cash equivalents, with no long-term debt and a cumulative installed base of 224 SSi Mantra systems across 12 countries. The company also reported 12,272 cumulative procedures using the SSi Mantra, including 175 telesurgeries, and recently completed a robotic telesurgery spanning more than 13,600 miles between Colombia and India.
The company expects the U.S. Food and Drug Administration (FDA) to complete its review of the SSi Mantra's 510(k) premarket notification by the end of the first quarter of 2027. Additionally, SS Innovations believes it can obtain European Union CE marking certification by the end of 2026, which would expand its market reach. These regulatory milestones could position the company to compete more directly in the global surgical robotics market, which is currently dominated by larger players.
The strong revenue growth and expanding installation base underscore the increasing adoption of the SSi Mantra, particularly in emerging markets where cost-effective surgical robotics are in demand. The company's focus on affordability and accessibility aligns with its mission to make robotic surgery available to a broader segment of the global population. As the installed base grows, recurring revenue from instrument sales and service contracts could provide a more stable revenue stream, potentially improving profitability in the long term.
Investors and industry observers will be watching for further updates on regulatory approvals and international expansion. The company's progress in telesurgery, demonstrated by the Colombia-India procedure, highlights its technological capabilities and could open new avenues for remote surgical care, especially in underserved regions. However, the increased net loss in Q2 compared to the prior year raises questions about the sustainability of its growth investments.
SS Innovations International, Inc. develops surgical robotic technologies with a vision to make robotic surgery affordable and accessible globally. Its product range includes the SSi Mantra surgical robotic system and the SSi Mudra surgical instruments, which support various procedures including cardiac surgery. An American company headquartered in India, SS Innovations plans to expand the global presence of its cost-effective surgical robotic solutions.
For more information, view the full press release at https://ibn.fm/nTMso and the company's newsroom at https://ibn.fm/SSII. Forward-looking statements involve risks and uncertainties as detailed in the company's SEC filings. Please see the full terms of use and disclaimers at http://IBN.fm/Disclaimer.
