SS Innovations International posted record first-quarter revenue of $11.1 million, more than doubling from $5.1 million a year earlier, as SSI Mantra installations and procedures accelerated.
Revenue rose 116.8% year over year, with system sales climbing to $9.6 million from $4.5 million. Instrument sales increased 141.2% to $1.15 million from $477,208, and warranty sales nearly tripled to $357,686 from $122,504. Lease income slipped slightly to $17,082 from $18,416.
Gross profit jumped to $5.3 million from $1.1 million, while gross margin expanded to 48.0% from 21.2%. The company’s net loss narrowed to $3.6 million, or $0.02 per diluted share, from $5.7 million, or $0.03 per diluted share, in the prior-year quarter.
SSI Mantra installations totaled 26 in the quarter, up from 15 a year earlier. Surgeries using the system reached 1,859, compared with 787 in the first quarter of 2025. The cumulative installed base increased to 194 systems from 78, and cumulative surgeries climbed to 9,744 from 3,568.
At March 31, 2026, SS Innovations reported $16.0 million in cash and cash equivalents and no long-term debt.
The company also said it completed a private placement in March that raised about $18.6 million in gross proceeds. During the quarter, it received regulatory approvals for SSI Mantra in Sri Lanka and Kenya, and for telesurgery in Indonesia and the Philippines. Following these announcements, the company's shares moved -2.07%, and are now trading at a price of $4.025. If you want to know more, read the company's complete 8-K report here.
