SS Innovations International (NASDAQ: SSII) has announced record financial results for the second quarter of 2026, signaling strong momentum in the adoption of its surgical robotic technology. The company reported revenue of $13.9 million for the quarter, a 39.4% increase from $10 million in the same period last year. This growth was driven by a 30.4% rise in installations of its SSi Mantra surgical robotic system, which reached 30 units during the quarter.
The company's gross profit also saw a significant uptick, rising 20% to $7.1 million, with a gross margin of 50.9%. Despite these gains, SS Innovations recorded a net loss of $2.7 million, or $0.01 per diluted share, compared to a net loss of $0.3 million in the year-ago quarter. For the first half of 2026, revenue surged 65.6% to $25 million, while SSi Mantra installations grew 47.4% to 56 units.
As of June 30, SS Innovations held $13.6 million in cash and cash equivalents and reported no long-term debt. The company's cumulative installed base of SSi Mantra systems reached 224 across 12 countries, reflecting its expanding global reach. Notably, the company achieved a milestone of 12,272 cumulative procedures using the SSi Mantra, including 175 telesurgeries. In a demonstration of its telesurgery capabilities, SS Innovations completed a robotic telesurgery spanning more than 13,600 miles between Colombia and India.
Looking ahead, SS Innovations anticipates that the U.S. Food and Drug Administration (FDA) will complete its review of the company's 510(k) premarket notification for the SSi Mantra by the end of the first quarter of 2027. The company also believes it can obtain European Union CE marking certification by the end of 2026. These regulatory milestones could significantly expand the market for its surgical robotic system, which is designed to make robotic surgery more affordable and accessible globally.
The financial results underscore the growing demand for SS Innovations' technology, which includes the SSi Mantra system and a suite of SSi Mudra surgical instruments. The company's focus on cost-effective and user-friendly robotic solutions positions it to capture a larger share of the global surgical robotics market, particularly in regions where access to advanced surgical technology has been limited.
Investors and industry observers will be watching closely as SS Innovations progresses toward regulatory approvals and continues to expand its installed base. The company's ability to maintain its growth trajectory while managing costs will be critical to its path to profitability. For more information on the company's performance and strategic initiatives, refer to the full press release at https://ibn.fm/nTMso.
