SS Innovations International, Inc. (SSi) reported significant financial growth in its latest 10-K filing, with total revenues reaching $42.5 million for the fiscal year ending December 31, 2025, compared to $20.6 million in the previous year, marking an increase of 106%. The company's gross profit also saw a substantial rise, amounting to $19.5 million, up from $8.5 million in 2024. Despite this growth, SSi recorded a net loss of $12.1 million, an improvement from the $19.2 million loss reported in 2024, attributed to increased sales and reduced stock-based compensation expenses.
The company has made notable strides in expanding its operational footprint, with a total of 168 SSi Mantra surgical robotic systems installed across 10 countries as of December 31, 2025. This includes 154 systems in India and 14 in international markets. The SSi Mantra has been utilized in over 7,800 surgical procedures, including approximately 400 cardiac surgeries, demonstrating its growing adoption in various surgical specialties. The company also reported that its systems have been used in more than 100 different types of surgical procedures without any device-related adverse events.
Strategically, SSi has focused on enhancing its product offerings and expanding its market presence. The company launched the SSi Mantra 3, which features advanced capabilities such as telesurgery and tele-proctoring, receiving regulatory approval in India in December 2024. SSi has also submitted a 510(k) premarket notification to the FDA for the SSi Mantra, aiming for U.S. market entry, and anticipates receiving EU certification in 2026. The company raised $18.6 million in a private placement in March 2026, which will be used to support its growth initiatives and market expansion efforts.
Operationally, SSi has increased its workforce to 483 employees, with a significant portion dedicated to manufacturing and clinical support. The company has also established a network of distributors in various countries, enhancing its ability to penetrate international markets. The demand for robotic-assisted surgeries is expected to grow, particularly in emerging markets like India, where the healthcare sector is projected to expand significantly in the coming years.
Looking ahead, SSi remains optimistic about its growth trajectory, driven by increasing awareness of robotic surgery benefits and the need for advanced surgical technologies in underserved markets. The company plans to continue investing in research and development to enhance its product offerings and expand its market share, particularly in the U.S. and European markets. However, SSi acknowledges the challenges posed by regulatory approvals and market competition as it seeks to establish a stronger presence in the global surgical robotics landscape.
About SS Innovations International, Inc.
SS Innovations International, Inc. designs and markets affordable surgical robotic systems, primarily the SSi Mantra, to improve minimally invasive surgeries across diverse medical fields. Focused on underserved markets like India, it aims to expand globally through direct sales and distributor networks. The company emphasizes innovation, surgeon training, and remote telesurgery, offering cost-effective solutions that enhance patient outcomes and operational efficiency.
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