SS Innovations International, Inc. reported unaudited financial results for the fourth quarter and full year ended December 31, 2025, showing substantial growth in revenue, installations, and surgical procedures. The company, which develops surgical robotic technologies, filed its Annual Report on Form 10-K with the Securities and Exchange Commission on March 10, 2026.
For the full year 2025, revenue increased 105.7% to $42.5 million from $20.6 million in 2024. Gross margin expanded to 46.0% from 40.9%, while gross profit rose 131.2% to $19.5 million. Net loss improved to $12.1 million, or $(0.06) per diluted share, compared to a net loss of $19.2 million, or $(0.11) per diluted share, in 2024. SSi Mantra surgical robotic system installations totaled 103, representing a 119.1% increase from 47 installations in 2024.
In the fourth quarter of 2025, revenue increased 79.1% to $14.5 million from $8.1 million in the same period of 2024. Gross margin was 43.9% compared to 48.9% in the prior year quarter, while gross profit rose 60.7% to $6.4 million. Net loss was $2.5 million, or $(0.01) per diluted share, compared to a net loss of $1.9 million, or $(0.01) per diluted share, in the fourth quarter of 2024. SSi Mantra installations totaled 40, up 81.8% from 22 installations in the fourth quarter of 2024.
As of December 31, 2025, the company had no long-term debt and cash and cash equivalents totaled $3.2 million, excluding restricted cash. The SSi Mantra cumulative installed base reached 168 systems across ten countries, with cumulative surgeries totaling 7,885, including 120 telesurgeries, 390 cardiac procedures, and 121 pediatric surgeries.
Dr. Sudhir Srivastava, Chairman and CEO of SS Innovations, stated that the company gained significant market share in India's surgical robotics market and expanded into new global geographies during 2025. The company progressed along regulatory pathways required for entering the United States and European Union markets and continued to pioneer robotic telesurgery. The uplisting of shares to Nasdaq enhanced market awareness of the company's growth story.
Dr. Srivastava noted that after quarter-end, the company completed a private placement of common stock, generating approximately $18.6 million in gross proceeds to fuel growth in 2026 and beyond. The company anticipates that the U.S. Food and Drug Administration will complete its review of the 510(k) premarket notification for the SSi Mantra by mid-2026 and continues toward European Union CE marking certification, which it believes can be obtained this year.
Select business highlights in the fourth quarter included the successful completion of the first telesurgery performed with the SSi Mantra Tele Surgeon Console on November 6, 2025, and submission of a 510(k) premarket notification to the FDA for the SSi Mantra surgical robotic system on December 5, 2025. Subsequent events included the development of five new 5-millimeter surgical instruments announced on January 6, 2026, and the completion of the private placement announced on March 9, 2026.
The company's growth is significant as it represents increased accessibility to surgical robotic technology in emerging markets and underserved regions. The expansion into cardiac and pediatric procedures demonstrates the system's versatility, while progress toward U.S. and EU regulatory approvals could disrupt established markets dominated by higher-cost systems. The financial improvement, particularly the reduction in net loss despite increased investment, suggests growing operational efficiency. The latest news and updates relating to SS Innovations are available in the company's newsroom at https://tinyurl.com/ssiinewsroom.
