SS Innovations International, Inc. (Nasdaq: SSII), a developer of surgical robotic technologies, today announced unaudited financial results for the three months ended March 31, 2026, highlighting record quarterly revenue of $11.1 million, a 116.8% increase from $5.1 million in the same period last year. The growth was primarily driven by a 73.3% increase in SSi Mantra surgical robotic system installations, which reached 26 in the quarter, up from 15 in Q1 2025. Gross margin expanded significantly to 48.0% from 21.2%, and gross profit rose 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's quarter.
As of March 31, 2026, the cumulative installed base of SSi Mantra systems totaled 194 across eleven countries, and cumulative surgeries reached 9,744, including 157 telesurgeries, 482 cardiac procedures, and 161 pediatric surgeries. The company also reported no long-term debt and $16.0 million in cash and cash equivalents, excluding restricted cash.
Dr. Sudhir Srivastava, Chairman and CEO of SS Innovations, commented, “In the first quarter of 2026 we reported record quarterly revenue of $11.1 million, up 117% year over year, driven by robust growth in SSi Mantra installations and procedures. 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 also noted that the company received regulatory approval for the SSi Mantra in Sri Lanka and Kenya, and for telesurgery in Indonesia and the Philippines, and completed a private placement generating approximately $18.6 million in gross proceeds to fuel 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 strong performance and strategic initiatives underscore its commitment to democratizing access to advanced surgical robotic care. For more information, visit the company's website at ssinnovations.com or follow on LinkedIn. The latest news and updates are available in the company’s newsroom at https://tinyurl.com/ssiinewsroom.
