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, a developer of surgical robotic technologies, attributed the growth to robust installations of its SSi Mantra surgical robotic system and an increase in surgical procedures.
Gross margin improved significantly to 48.0% from 21.2% in the first quarter of 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. The company ended the quarter with $16.0 million in cash and cash equivalents and no long-term debt.
SSi Mantra installations totaled 26 in the quarter, up 73.3% from 15 in the first quarter of 2025. As of March 31, 2026, the cumulative installed base reached 194 systems across eleven countries, and cumulative surgeries exceeded 9,744, including 157 telesurgeries, 482 cardiac procedures, and 161 pediatric surgeries.
Dr. Sudhir Srivastava, Chairman and CEO of SS Innovations, 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 highlighted regulatory approvals received during the quarter for the SSi Mantra in Sri Lanka and Kenya, and for telesurgery in Indonesia and the Philippines. The company also completed a private placement in March 2026, raising approximately $18.6 million in gross proceeds to support growth initiatives.
Looking ahead, Dr. Srivastava stated, “We aim to fortify our position as a leader in the substantial Indian market, expand our global footprint in underserved countries, and secure entry into the United States and European Union markets. We expect the U.S. Food and Drug Administration to complete its review of our 510(k) premarket notification for the SSi Mantra this year. Separately, we continue along the pathway towards a European Union CE marking certification for the SSi Mantra, which we believe we can also obtain in 2026.”
The company’s focus on democratizing access to advanced surgical robotic care is underscored by its expanding global presence and strategic regulatory milestones. The SSi Mantra, a modular multi-arm system, has been clinically validated in over 170 different types of surgical procedures in India. More information about the company and its technologies is available at ssinnovations.com.
