SS Innovations Reports 40.7% Revenue Growth and Reduced Net Loss in Latest Quarter

SS Innovations International, Inc. reported significant financial developments in its latest 10-Q filing for the quarter ending March 31, 2025. The company generated total revenues of $5.12 million, a 40.7% increase from $3.64 million in the same period last year. This growth was primarily driven by a rise in system sales, which reached $4.50 million, up from $3.49 million, alongside increased sales of instruments and warranty services. The gross profit for the quarter was $1.09 million, compared to $728,182 in the prior year, reflecting improved margins attributed to lower raw material costs.

The company’s net loss for the quarter was $5.68 million, a notable reduction from the $9.84 million loss reported in the same quarter of 2024. This improvement was largely due to a decrease in stock compensation expenses, which fell to $2.38 million from $7.11 million year-over-year. Operating expenses totaled $7.01 million, down from $10.56 million, indicating a strategic effort to manage costs while continuing to invest in research and development, which increased to $1.01 million from $528,000.

In terms of operational metrics, SS Innovations sold eight surgical robotic systems during the quarter and installed four additional systems on a pay-per-use basis. The company has also expanded its geographic footprint, with 18% of revenues now coming from markets outside India, compared to none in the previous year. The total assets of the company increased to $63.46 million, up from $42.39 million at the end of 2024, bolstered by a significant rise in cash and cash equivalents, which reached $15.87 million from $466,500.

Strategically, the company has been active in raising capital to support its operations. In January 2025, SS Innovations raised $28 million through the issuance of convertible promissory notes, which has provided a substantial liquidity boost. However, the company continues to face challenges regarding its ability to sustain operations without additional funding, as indicated by its accumulated deficit of $49.34 million. Management is actively seeking further financing to support its growth initiatives and operational needs.

Looking ahead, SS Innovations remains focused on enhancing its product offerings and expanding its market presence. The company acknowledges the need for ongoing capital to scale operations and invest in research and development. While management expresses confidence in securing additional funding, they caution that the ability to do so will significantly impact the company's future operational capabilities and growth trajectory.