SS Innovations International, Inc. (NASDAQ: SSII) recently released its unaudited financial results for the second quarter of 2025, showcasing significant growth and progress. Let's dive into the numbers to understand the company's performance.
In the second quarter of 2025, SS Innovations reported a record quarterly revenue of $10.0 million, representing a staggering 121.8% increase from the same period in 2024 when revenue was at $4.5 million. This substantial growth was primarily driven by higher unit sales of the SSI Mantra 3 surgical robotic system, which saw a remarkable 106.2% increase in system sales, totaling $8.8 million in the second quarter of 2025, compared to $4.3 million in the second quarter of 2024.
The company's gross margin also expanded significantly to 59.1% in the second quarter of 2025, up from 31.9% in the same period of 2024. As a result, gross profit more than tripled, reaching $5.9 million, a substantial increase from $1.4 million in the second quarter of 2024.
Furthermore, the number of SSI Mantra surgical robotic system installations totaled 23 in the second quarter of 2025, marking a remarkable 130% increase from the 10 installations recorded in the second quarter of 2024.
Looking at the first half of 2025, the company achieved an 85.6% growth in revenue, reaching $15.1 million, compared to $8.1 million in the first half of 2024. The gross margin expanded to 46.3%, representing a significant improvement from 26.6% in the first half of 2024. Gross profit rose to $7.0 million, up from $2.2 million in the first half of 2024.
Despite these impressive financial results, the company reported a net loss of $5.9 million for the first half of 2025, a notable improvement from the net loss of $14.0 million in the same period of 2024.
The SSI Mantra cumulative installed base reached 105 systems across seven countries as of June 30, 2025, with cumulative surgeries totaling 4,657. These figures demonstrate the growing adoption and utilization of the company's surgical robotic systems.
Dr. Sudhir Srivastava, Chairman of the Board and Chief Executive Officer of SS Innovations, attributed the company's strong revenue growth to higher unit sales of the SSI Mantra 3 surgical robotic system, particularly in India and abroad. He also highlighted the significant gross margin expansion, lower production costs, and the narrowing of net losses to almost breakeven.
SS Innovations' achievements in the second quarter of 2025 include its listing on the NASDAQ stock market in April, as well as milestones in telesurgery and cardiac procedures using the SSI Mantra 3 system. Notably, the company performed the world's first robotic telesurgery for weight loss and the first intercontinental robotic cardiac telesurgery, among other groundbreaking procedures.
The company's performance reflects its commitment to democratizing excellence in surgical robotic care and its vision to expand globally. With an expanding installed base and growing utilization of the SSI Mantra 3 system, SS Innovations is well-positioned for robust organic growth in the second half of 2025.
Following these announcements, the company's shares moved 9.4%, and are now trading at a price of $7.04. If you want to know more, read the company's complete 8-K report here.
