FORT LAUDERDALE, Fla., Aug. 13, 2026 (GLOBE NEWSWIRE) -- via IBN -- SS Innovations International, Inc. (the "Company" or "SS Innovations") (Nasdaq: SSII), a developer of innovative surgical robotic technologies dedicated to making robotic surgery affordable and accessible to a global population, today announced unaudited financial results for the three and six months ended June 30, 2026. The Company also filed its Quarterly Report on Form 10-Q for the quarter ended June 30, 2026, with the Securities and Exchange Commission on August 13, 2026.
Second Quarter 2026 Overview
-- Revenue increased 39.4% to $13.9 million from $10.0 million in the second
quarter of 2025.
-- Gross margin equaled 50.9%, compared to 59.1% in the second quarter of
2025.
-- Gross profit rose 20.0% to $7.1 million from $5.9 million in the second
quarter of 2025.
-- Net loss of $2.7 million, or $(0.01) per diluted share, compared to a net
loss of $0.3 million, or $(0.00) per diluted share, in the second quarter
of 2025.
-- SSi Mantra surgical robotic system installations totaled 30, up 30.4%
from 23 installations in the second quarter of 2025.
First Half 2026 Overview
-- Revenue increased 65.6% to $25.0 million from $15.1 million in the first
half of 2025.
-- Gross margin expanded to 49.6% from 46.3% in the first half of 2025.
-- Gross profit rose 77.5% to $12.4 million from $7.0 million in the first
half of 2025.
-- Net loss of $6.2 million, or $(0.03) per diluted share, compared to a net
loss of $5.9 million, or $(0.03) per diluted share, in the first half of
2025.
-- SSi Mantra surgical robotic system installations totaled 56, up 47.4%
from 38 installations in the first half of 2025.
As of June 30, 2026
-- Long-term debt of $0.
-- Cash and cash equivalents totaled $13.6 million, excluding restricted
cash.
-- SSi Mantra cumulative installed base totaled 224 systems across twelve
countries and cumulative surgeries reached 12,272, including 175
telesurgeries, 637 cardiac procedures and 222 pediatric surgeries.
CEO Commentary
Dr. Sudhir Srivastava, Chairman of the Board and Chief Executive Officer of SS Innovations, commented, "SS Innovations delivered record quarterly revenue of $13.9 million in the second quarter of 2026, up 39% year over year, reflecting strong adoption of our advanced SSi Mantra surgical robotic system by leading hospitals and surgeons in India and abroad. We continue to expand awareness of the SSi Mantra's cutting-edge surgical robotic technology, differentiated features, user friendliness, training capabilities, and cost efficiency. Recently the SSi Mantra has been showcased in several high-profile international long-distance telesurgeries as well as at this year's Global Multi-Specialty Robotic Surgery Conference in New Delhi, which we hosted, and the 2026 Society of Robotic Surgery Annual Meeting in Florida. We appreciate the widespread positive reception of the SSi Mantra at these events and were excited to win the 'Outstanding Company' category at the 2026 Surgical Robotics Industry Awards in June."
Dr. Srivastava continued, "We remain enthusiastic about our ability to lead our foundational market of India, which is immense and growing, while expanding our global footprint in underserved countries and aiming for entry into the United States and European Union. We expect the U.S. Food and Drug Administration to complete its review of our 510(k) premarket notification for the SSi Mantra by the end of the first quarter of 2027. We also continue along the pathway towards a European Union CE marking certification for the SSi Mantra, which we believe we can obtain by the end of 2026. Our SSI Mantra has been engineered for precision, built to perform, and created to democratize access to advanced surgical robotic care--all underpinning our confidence in the future."
Select Business Highlights in Second Quarter 2026
-- In April 2026, the Company hosted the Global Multi-Specialty Robotic
Surgery Conference in New Delhi, India, bringing together distinguished
surgeons, global thought leaders and prominent innovators to discuss and
shape the future of robotic and minimally invasive surgery. The event
drew more than 1,600 attendees and 1,800 virtual participants from 19
nations.
-- On May 7, 2026, the Company announced the successful completion of a
landmark telesurgery performed in Perth, Australia, more than 4,500 miles
from the patient in India, utilizing the SSi Mantra surgical robotic
system (the "SSi Mantra") and the SSi MantrAsana tele-surgeon console.
-- On June 4, 2026, the Company announced the successful completion of a
robotic-assisted heart procedure performed with the SSi Mantra across
approximately 12,500 miles (20,000 kilometers) of fiber network distance
between Guyana and India, making it the world's then longest-distance
robotic telesurgery.
-- In June 2026, the Company won the Outstanding Company category at the
2026 Surgical Robotics Industry Awards, surpassing nine other
well-established finalists vying for this coveted industry accolade.
-- In June 2026, the Company's subsidiary, the SS International Centre for
Robotics Surgery, graduated its first class in a specialized training
course designed to provide surgeons and other healthcare professionals
with classroom instruction and hands-on learning in robotic-assisted
cardiac surgery using the advanced SSi Mantra surgical robotic system.
Subsequent Event
-- On July 29, 2026, a team of surgeons led by Dr. Sudhir Srivastava
utilized the SSi Mantra to perform a successful robotic telesurgery
between Colombia and India, spanning more than 13,600 miles (22,000
kilometers) of fiber network distance and eclipsing the previous
longest-distance telesurgery record also held by the Company. The
telesurgery, a robotic sleeve gastrectomy, was performed remotely from
Hospital Internacional de Colombia in Bucaramanga, Colombia on a patient
located at Mohak Bariatrics and Robotics in Indore, India.
Revenue Breakdown and Summary of Installations / Surgeries
Category Q2 2025 Q2 2026 Variance Percentage -------------------------- ----------- ------------ ----------- ---------- System sales $8,781,038 $12,361,986 $3,580,948 40.8% Instrument sales 1,007,830 1,142,525 134,695 13.4% Warranty sales 193,359 419,002 225,643 116.7% Lease income 18,078 16,196 (1,882) -10.4% -------------------------- ----------- ------------ ----------- ---------- Total revenue $10,000,305 $13,939,709 $3,939,404 39.4% SSi Mantra installations 23 30 7 30.4% Cumulative installed base(1) 105 224 119 113.3% SSi Mantra surgeries 1,042 2,528 1,486 142.6% Cumulative surgeries(1) 4,657 12,272 7,615 163.5%
(1) at period end
Category H1 2025 H1 2026 Variance Percentage ------------------------- ----------- ------------ ----------- ---------- System sales $13,283,520 $21,937,356 $8,653,836 65.1% Instrument sales 1,485,038 2,293,753 808,715 54.5% Warranty sales 315,863 776,688 460,825 145.9% Lease income 36,494 33,278 (3,216) -8.8% ------------------------- ----------- ------------ ----------- ---------- Total revenue $15,120,915 $25,041,075 $9,920,160 65.6% SSi Mantra installations 38 56 18 47.4% SSi Mantra surgeries 1,861 4,387 2,526 135.7%
About SS Innovations
SS Innovations International, Inc. (Nasdaq: SSII) develops innovative surgical robotic technologies with a vision to make the benefits of robotic surgery affordable and accessible to a larger segment of the global population. The Company's product range includes its proprietary "SSi Mantra" surgical robotic system and its comprehensive suite of "SSi Mudra" surgical instruments, which support a variety of surgical robotic procedures including cardiac surgery. Headquartered in India, SS Innovations is a U.S. company focused on expanding the global presence of its technologically advanced, user-friendly, and cost-effective surgical robotic solutions. Visit the Company's website at ssinnovations.com or LinkedIn for more information and updates.
About the SSi Mantra
The SSi Mantra surgical robotic system is a user-friendly, modular, multi-arm system with advanced technology features, including: 3 to 5 modular robotic arms, an open-faced ergonomic surgeon command center, a large 3D 4K monitor, a touch panel monitor for all patient related information display, a virtual real-time image of the robotic patient side arm carts, and the ability for superimposition of 3D models of diagnostic imaging. The optional SSi MantrAsana tele-surgeon console is a portable, compact alternative to the SSi Mantra's standard surgeon command center that provides equivalent control functionality while enabling enhanced portability, ergonomic flexibility, and telesurgery capability. The SSi Mantra utilizes over 40 different types of robotic endo-surgical instruments to support different specialties, including cardiac surgery, and 5mm instruments for the pediatric population and ENT surgeries. A vision cart provides the table-side team with the same magnified 3D 4K view as the surgeon to provide better safety and efficiency. The SSi Mantra has been clinically validated in India in more
than 170 different types of surgical procedures.
Forward Looking Statements
This press release may contain statements that are not historical facts and are considered forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. The words "anticipate," "assume," "believe," "estimate," "expect," "will," "intend," "may," "plan," "project," "should," "could," "seek," "designed," "potential," "forecast," "target," "objective," "goal," or the negatives of such terms or other similar expressions to identify such forward-looking statements. These statements relate to future events or SS Innovations' future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.
Investor Contact:
The Equity Group
Kalle Ahl, CFA
T: (303) 953-9878
kalle.ahl@theequitygroup.com
Devin Sullivan, Managing Director
T: (212) 836-9608
devin.sullivan@theequitygroup.com
Media Contact:
RooneyPartners LLC
Kate Barrette
T: (212) 223-0561
kbarrette@rooneypartners.com
Corporate Communications:
IBN.Ai
Austin, Texas
www.IBN.ai
512.354.7000 Office
Editor@IBN.Ai
SS INNOVATIONS INTERNATIONAL, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
As of
---------------------------
June 30, December 31,
2026 2025
------------ ------------
(Unaudited)
ASSETS
Current Assets:
Cash and cash equivalents $ 13,647,430 $ 3,206,406
Restricted cash 8,648,461 5,937,650
Accounts receivable, net 16,986,089 12,398,542
Inventory 18,481,603 17,064,002
Prepaids and other current
assets 13,690,369 10,166,823
----------- -----------
Total Current Assets 71,453,952 48,773,423
Property, plant, and
equipment, net 8,637,145 9,100,546
Right of use asset, net 3,045,707 2,754,020
Deferred tax assets, net 843,544 533,727
Accounts receivable,
net-non-current 8,511,054 8,566,654
Restricted cash-
non-current 375,132 458,964
Prepaids and other
non-current assets 4,115,479 4,038,883
----------- -----------
Total Assets $ 96,982,013 $ 74,226,217
=========== ===========
LIABILITIES AND
STOCKHOLDERS' EQUITY
Current Liabilities
Bank overdraft facility $ 14,634,960 $ 11,442,948
Current portion of
operating lease
liabilities 687,707 579,169
Accounts payable 5,265,754 5,127,193
Deferred revenue 3,916,269 3,266,686
Accrued expenses & other
current liabilities 7,387,037 5,825,702
----------- -----------
Total Current Liabilities 31,891,727 26,241,698
Operating lease
liabilities, less current
portion 2,549,823 2,337,697
Deferred Revenue-
non-current 8,695,725 7,139,807
Other non-current
liabilities 443,515 288,764
----------- -----------
Total Liabilities $ 43,580,790 $ 36,007,966
----------- -----------
Commitments and
contingencies
Stockholders' equity:
Preferred stock, authorized
5,000,000 shares of Series
A, Non-Convertible
Preferred Stock, $0.0001
par value per share; 1,000
shares issued and
outstanding as of June 30,
2026 and December 31,
2025 1 1
Common stock, 250,000,000
shares authorized, $0.0001
par value, 200,169,035
shares and 194,165,141
shares issued and
outstanding as of June 30,
2026 and December 31, 2025
respectively 20,017 19,416
Accumulated other
comprehensive loss (3,994,166) (2,022,660)
Additional paid in capital 118,509,309 95,111,511
Capital reserve 899,917 899,917
Accumulated deficit (62,033,855) (55,789,934)
----------- -----------
Total stockholders' equity 53,401,223 38,218,251
----------- -----------
Total liabilities and
stockholders' equity $ 96,982,013 $ 74,226,217
=========== ===========
SS INNOVATIONS INTERNATIONAL, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
(Unaudited)
For The Three months ended
------------------------------
June 30, June 30,
2026 2025
--------------- ------------
REVENUES
System sales 12,361,986 8,781,038
Instrument sales 1,142,525 1,007,830
Warranty sales 419,002 193,359
Lease income 16,196 18,078
----------- -----------
Total revenue $ 13,939,709 $ 10,000,305
Cost of revenue (6,838,759) (4,085,247)
----------- -----------
GROSS PROFIT 7,100,950 5,915,058
OPERATING EXPENSES:
Research & development
expense 2,395,694 498,600
Stock-based compensation
expense 2,178,156 1,630,295
Depreciation and amortization
expense 346,364 260,361
Selling, general and
administrative expense 4,452,090 3,428,788
----------- -----------
TOTAL OPERATING EXPENSES 9,372,304 5,818,044
----------- -----------
(Loss) / Profit from operations (2,271,354) 97,014
OTHER INCOME/ (EXPENSE):
Interest Expense (344,761) (216,800)
Interest and other income,
net 460,041 216,824
----------- -----------
TOTAL OTHER INCOME, NET 115,280 24
(LOSS) / PROFIT BEFORE INCOME
TAXES (2,156,074) 97,038
Income tax expense 505,276 353,729
----------- -----------
NET LOSS $ (2,661,350) $ (256,691)
=========== ===========
Net loss per share - basic and
diluted $ (0.01) $ (0.00)
Weighted average- basic
shares 200,136,068 193,571,635
Weighted average- diluted
shares 209,422,550 202,835,698
CONSOLIDATED STATEMENTS OF
OTHER COMPREHENSIVE LOSS
----------------------------
NET LOSS $ (2,661,350) $ (256,691)
OTHER COMPREHENSIVE LOSS
Foreign currency translation
loss (404,867) (66,014)
Retirement Benefit (25,651) (35,660)
RECLASSIFICATION
ADJUSTMENTS:
Retirement Benefit (1) 3,033 -
Income tax effects relating
to retirement benefit (1) 6,456 5,772
----------- -----------
TOTAL OTHER COMPREHENSIVE
LOSS (421,029) (95,902)
----------- -----------
TOTAL COMPREHENSIVE LOSS $ (3,082,379) $ (352,593)
=========== ===========
(1) These are reclassified to net loss and are included
in other expense in the condensed consolidated statements
of operations.
SS INNOVATIONS INTERNATIONAL, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
(Unaudited)
For The Six months ended
---------------------------
June 30, June 30,
2026 2025
------------ ------------
REVENUES
System sales 21,937,356 13,283,520
Instrument sales 2,293,753 1,485,038
Warranty sales 776,688 315,863
Lease income 33,278 36,494
----------- -----------
Total revenue $ 25,041,075 $ 15,120,915
Cost of revenue (12,612,904) (8,118,649)
----------- -----------
GROSS PROFIT 12,428,171 7,002,266
OPERATING EXPENSES:
Research & development expense 3,391,134 1,508,695
Stock-based compensation
expense 5,322,471 4,009,507
Depreciation and amortization
expense 670,111 469,243
Selling, general and
administrative expense 8,941,387 6,638,587
----------- -----------
TOTAL OPERATING EXPENSES 18,325,103 12,626,032
----------- -----------
Loss from operations (5,896,932) (5,623,766)
OTHER INCOME/ (EXPENSE):
Interest Expense (628,812) (596,705)
Interest and other income, net 938,451 636,156
----------- -----------
TOTAL OTHER INCOME, NET 309,639 39,451
LOSS BEFORE INCOME TAXES (5,587,293) (5,584,315)
Income tax expense 656,628 353,729
----------- -----------
NET LOSS $ (6,243,921) $ (5,938,044)
=========== ===========
Net loss per share - basic and
diluted $ (0.03) $ (0.03)
Weighted average- basic shares 198,083,415 186,244,872
Weighted average- diluted
shares 207,369,897 195,502,268
CONSOLIDATED STATEMENTS OF
OTHER COMPREHENSIVE LOSS
-----------------------------
NET LOSS $ (6,243,921) $ (5,938,044)
OTHER COMPREHENSIVE LOSS
Foreign currency translation
loss (1,961,978) (59,138)
Retirement Benefit (20,870) (19,822)
RECLASSIFICATION ADJUSTMENTS:
Retirement Benefit (1) 6,089 -
Income tax effects relating to
retirement benefit (1) 5,253 5,772
----------- -----------
TOTAL OTHER COMPREHENSIVE LOSS (1,971,506) (73,188)
----------- -----------
TOTAL COMPREHENSIVE LOSS $ (8,215,427) $ (6,011,232)
=========== ===========
(1) These are reclassified to net loss and are included
in other expense in the condensed consolidated statements
of operations.
SS INNOVATIONS INTERNATIONAL, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
For the six months ended
--------------------------
June 30, June 30,
2026 2025
----------- ------------
Cash flows from operating
activities:
Net loss $(6,243,921) $ (5,938,044)
Adjustments to reconcile net loss
to net cash used in operating
activities:
Depreciation and amortization 670,111 469,243
Operating lease expense 471,459 423,593
Interest expense 84,938 179,455
Interest and other income, net (814,218) (338,191)
Deferred income tax benefit (336,457) (365,641)
Stock-based compensation expense 5,368,330 4,009,507
Provision for / (reversal of)
credit loss reserve, net 297,882 (228,846)
Provision for slow moving
inventory (6,225) -
Changes in operating assets and
liabilities:
Accounts receivable, net (4,286,490) (2,337,679)
Inventory, net (1,411,376) (10,221,214)
Deferred revenue 2,205,501 1,739,652
Prepaids and other assets (3,955,550) (2,572,481)
Accounts payable 127,728 3,782,409
Income taxes payable, net 933,184 620,586
Accrued expenses & other
liabilities 782,787 1,629,136
Operating lease payment (434,132) (407,188)
---------- -----------
Net cash used in operating
activities (6,546,449) (9,555,703)
---------- -----------
Cash flows from investing
activities:
Purchase of property, plant and
equipment (215,060) (1,189,452)
---------- -----------
Net cash used in investing
activities (215,060) (1,189,452)
---------- -----------
Cash flows from financing
activities:
Proceeds from bank overdraft
facility (net) 3,192,012 (1,014,593)
Proceeds from private investment
in public equity, net of
transaction costs 18,446,498 -
Proceeds from issuance of
convertible notes to principal
shareholder - 28,000,000
Repayment of convertible notes
to principal shareholder,
including interest - (4,212,637)
Repayment of convertible notes
to other investors, including
interest - (1,068,849)
---------- -----------
Net cash provided by financing
activities 21,638,510 21,703,921
---------- -----------
Net change in cash 14,877,001 10,958,766
Effect of exchange rate on cash (1,808,998) 23,377
Cash and cash equivalents at the
beginning of the period 9,603,020 6,623,535
---------- -----------
Cash and cash equivalents at end of
the period $22,671,023 $ 17,605,678
========== ===========