SS Innovations International (SSII) Q2 2026 earnings summary

Executive summary

• Achieved $25.0M in revenue for the six months ended June 30, 2026, up 65.6% year-over-year, driven by increased sales and installations of SSi Mantra surgical robotic systems and instruments.

• Sold 46 robotic systems, installed 1 on a pay-per-use basis, and upgraded 3 systems during H1 2026; cumulative installed base reached 224 systems across 12 countries.

• Net loss widened to $6.2M for H1 2026, compared to $5.9M in the prior year, primarily due to higher R&D, SG&A, and stock-based compensation expenses.

• Raised $18.4M in a private placement in March 2026 to support working capital and expansion initiatives.

• Hosted major industry events, achieved record-breaking telesurgeries, and won the Outstanding Company award at the 2026 Surgical Robotics Industry Awards.

Financial highlights

• Q2 2026 revenue was $13.9M, up 39.4% year-over-year; gross profit increased to $7.1M, though gross margin declined to 50.9% from 59.1% YoY.

• Operating expenses for Q2 2026 rose to $9.4M, driven by R&D ($2.4M), SG&A ($4.5M), and stock-based compensation ($2.2M).

• Net loss for Q2 2026 was $2.7M, compared to $0.3M in Q2 2025, with EPS at $(0.01) per diluted share.

• Cash and cash equivalents at June 30, 2026, were $13.6M, with total assets of $97.0M and total liabilities of $43.6M.

• System, instrument, and warranty sales all posted double-digit growth rates year-over-year.

Outlook and guidance

• Management expects to require substantial funds for scaling operations, capital expenditures, and continued R&D.

• Current cash resources and income from operations are not sufficient for the next 12 months; further funding is being sought.

• Expansion into the U.S. and EU markets is a key strategic focus, with FDA review of SSi Mantra 510(k) premarket notification anticipated by end of Q1 2027 and EU CE marking certification expected by end of 2026.

• Focused on expanding in India and underserved global markets.