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%, while net loss widened to $2.7 million, or $0.01 per diluted share, compared to a net loss of $0.3 million a year earlier.
The strong performance continued in the first half of the year, with revenue up 65.6% to $25 million and installations up 47.4% to 56. As of June 30, SS Innovations had a cumulative installed base of 224 SSi Mantra systems across 12 countries, and had performed 12,272 cumulative procedures using the system, 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 remote capabilities.
The company expects the U.S. Food and Drug Administration to complete its review of the SSi Mantra's 510(k) premarket notification by the end of the first quarter of 2027, and believes it can obtain European Union CE marking certification by the end of 2026. These milestones are critical for expanding into major markets. As of June 30, SS Innovations held $13.6 million in cash and cash equivalents with no long-term debt, providing a solid foundation for its growth plans.
The record revenue and accelerating adoption highlight the increasing demand for affordable surgical robotics globally. SS Innovations aims to make robotic surgery accessible to a larger patient population, a mission that aligns with its expansion strategy. The company's focus on cost-effective solutions and its success in emerging markets could disrupt the traditional surgical robotics landscape, which is currently dominated by expensive systems. With a robust pipeline and regulatory progress, SS Innovations is poised to capitalize on the growing trend of minimally invasive surgery and telemedicine.
