SS Innovations International (NASDAQ: SSII) has reported a record second-quarter revenue of $13.9 million, a 39.4% increase from $10.0 million in the same period last year, signaling robust demand for its SSi Mantra surgical robotic platform. The company's first-half revenue reached $25.0 million, up 65.6% from $15.1 million in the prior year, reflecting sustained momentum in a market increasingly embracing robotic-assisted surgery.
The growth is driven primarily by system installations, which rose 30.4% to 30 systems during the quarter. The installed base now stands at 224 SSi Mantra systems across 12 countries, with cumulative surgeries reaching 12,272. This expansion not only generates recurring revenue from services and instruments but also strengthens the platform's clinical evidence base, a key factor for regulatory approvals and broader adoption.
Gross profit for the second quarter increased 20.0% to $7.1 million, although gross margin contracted to 50.9% from 59.1% a year earlier, reflecting higher costs associated with scaling production and expanding the installed base. For the first half, gross profit rose 77.5% to $12.4 million, with gross margin improving to 49.6% from 47.4% in the prior-year period, indicating improving operational efficiency as volumes grow.
Looking ahead, regulatory milestones in the U.S. and Europe could serve as significant catalysts. The company is targeting FDA clearance by the first quarter of 2027 and EU CE marking by the end of 2026. Achieving these approvals would open two of the world's largest surgical robotics markets, potentially accelerating adoption and revenue growth. The company's telesurgery achievements are also enhancing the clinical profile of SSi Mantra, differentiating it from competitors and expanding its utility in remote and underserved regions.
As SS Innovations continues to execute on its growth strategy, the record revenue and expanding installed base underscore the commercial viability of its platform. The company's focus on system installations as the primary growth driver, coupled with upcoming regulatory milestones, positions it to capitalize on the increasing global demand for minimally invasive surgical options. Investors and healthcare providers alike will be watching closely as the company moves toward these pivotal approvals.
