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SS Innovations (Nasdaq: SSII) revenue jumps 39% in Q2 as robot installs surge

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

SS Innovations International, Inc. reported record second-quarter 2026 revenue of $13.9 million, up 39.4% from $10.0 million a year earlier, driven mainly by higher SSi Mantra system sales. First-half 2026 revenue was $25.0 million, an increase of 65.6% from $15.1 million in first-half 2025.

The company’s installed base expanded rapidly, with quarterly SSi Mantra installations rising from 23 to 30 and the cumulative installed base increasing from 105 to 224 systems. Quarterly SSi Mantra surgeries grew from 1,042 to 2,528, and cumulative surgeries from 4,657 to 12,272, indicating increased clinical utilization.

Despite strong top-line growth, SS Innovations recorded a net loss of $2.7 million for Q2 2026 versus a $0.3 million loss a year earlier, as operating expenses, including $2.2 million of stock-based compensation and higher R&D and SG&A, outweighed gross profit. For the first half of 2026, net loss was $6.2 million, similar to the prior year. Cash and cash equivalents increased to $22.7 million as of June 30, 2026, supported by a $18.4 million PIPE financing, while total assets reached $97.0 million and stockholders’ equity rose to $53.4 million.

Positive

  • Revenue growth was strong, with Q2 2026 revenue up 39.4% year over year to $13.9 million and first-half 2026 revenue up 65.6% to $25.0 million, driven primarily by higher SSi Mantra system and instrument sales.
  • The SSi Mantra robot franchise expanded quickly, with the cumulative installed base rising 113.3% to 224 systems and cumulative surgeries increasing 163.5% to 12,272, supporting growing clinical adoption.
  • The company strengthened its balance sheet, increasing cash and cash equivalents to $22.7 million as of June 30, 2026, aided by $18.4 million in net proceeds from a private investment in public equity offering.

Negative

  • Profitability deteriorated in the quarter as Q2 2026 net loss widened to $2.7 million from $0.3 million a year earlier, with operating expenses up sharply, including R&D and stock-based compensation.
  • Operating performance remained loss-making, with first-half 2026 net loss of $6.2 million and net cash used in operating activities of $6.5 million, indicating the business still consumes cash despite higher revenue.
  • Leverage and obligations increased, as the bank overdraft facility balance rose to $14.6 million from $11.4 million, and total liabilities increased to $43.6 million, adding financial risk alongside growth investments.

Filing Explained

The filing shows 200,169,035 common shares outstanding at June 30, 2026, versus 194,165,141 at year-end, without stating the issuance mechanics.

Form 8-K reports specified material events; here, the company furnished its second-quarter results and stated that its quarterly report for the period ended June 30, 2026 was filed. The structural item not covered in the existing results description is the reported common-share count.

The balance sheet reports SS Innovations had 200,169,035 common shares issued and outstanding at June 30, 2026, compared with 194,165,141 at December 31, 2025. Issuing additional shares increases the total share count and reduces an existing holder's percentage ownership absent offsetting changes.

The 8-K does not identify which issuance mechanics produced the difference, so this filing alone does not establish the amount or terms of any holder-level dilution. Items 2.02 and 7.01, together with the press release, are expressly furnished rather than filed and are not incorporated by reference.

Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 7.01 Regulation FD Disclosure Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Q2 2026 Revenue $13,939,709 Total revenue for the three months ended June 30, 2026, up 39.4% year over year
H1 2026 Revenue $25,041,075 Total revenue for the six months ended June 30, 2026, up 65.6% from H1 2025
Q2 2026 Net Loss $2,661,350 Net loss for the three months ended June 30, 2026, versus $256,691 a year earlier
H1 2026 Net Loss $6,243,921 Net loss for the six months ended June 30, 2026, similar to $5,938,044 in H1 2025
Cumulative Installed Base 224 systems SSi Mantra cumulative installed base as of Q2 2026, up from 105 a year earlier
Cumulative Surgeries 12,272 Cumulative SSi Mantra surgeries as of Q2 2026, up from 4,657 a year earlier
Cash and Cash Equivalents $22,671,023 Balance as of June 30, 2026, compared with $9,603,020 at December 31, 2025
Net Cash Used in Operating Activities $6,546,449 Net cash used in operating activities for the six months ended June 30, 2026
bank overdraft facility financial
"Bank overdraft facility | | $ | 14,634,960"
stock-based compensation expense financial
"Stock-based compensation expense | | | 2,178,156"
Stock-based compensation expense is the value that a company records when it gives employees or executives shares or options to buy shares as part of their pay. It matters because it shows the true cost of paying employees this way, which can affect the company's profits and how investors see its financial health.
deferred revenue financial
"Deferred revenue | | | 3,916,269"
Cash a company has already received for goods or services it has promised but not yet delivered; it's recorded as a liability because the company still owes that product, service, or future revenue recognition. For investors, deferred revenue signals upcoming work or deliveries that will convert into reported sales over time and affects short-term obligations, cash flow quality, and how quickly a firm can grow recognized revenue—think of it like prepaid subscriptions or gift cards a business must honor later.
510(k) premarket notification regulatory
"review of our 510(k) premarket notification for the SSi Mantra"
A 510(k) premarket notification is a regulatory submission to the U.S. Food and Drug Administration that shows a new medical device is as safe and effective as an existing, legally marketed device. Think of it like demonstrating your new model performs like a trusted older model so it can be sold; for investors, 510(k) clearance is a key hurdle that affects how quickly a device can reach market, development cost, and the level of regulatory risk in a medical-device investment.
operating lease liabilities financial
"Current portion of operating lease liabilities | | | 687,707"
Long-term lease payments a company is legally committed to because it rents assets such as offices, factories, or equipment; under modern accounting rules these future rent obligations are recorded on the balance sheet as liabilities. Investors care because operating lease liabilities act like debt that drains future cash, affects measures of leverage and borrowing capacity, and can change profitability and valuation — think of them as a company’s large, ongoing rent payments that limit its financial flexibility.
private investment in public equity financial
"Proceeds from private investment in public equity, net of transaction costs"
Private investment in public equity occurs when investors buy shares directly from a company that is publicly traded, often at an early stage or at a discount, instead of purchasing them on the open market. This allows investors to acquire a stake more quickly and with potentially better terms, which can influence the company's future growth and stability—making it an important option for those seeking to support or benefit from a company's development.
Q2 2026 Revenue $13,939,709 Increased 39.4% from $10,000,305 in Q2 2025
H1 2026 Revenue $25,041,075 Increased 65.6% from $15,120,915 in H1 2025
Q2 2026 Net Loss $2,661,350 Widened from a $256,691 net loss in Q2 2025
H1 2026 Net Loss $6,243,921 Slightly higher than $5,938,044 in H1 2025
Guidance

Management referenced expectations for FDA review of the SSi Mantra 510(k) by end of Q1 2027 and potential EU CE marking by end of 2026 but did not provide numerical financial guidance.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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FAQ

How did SSII’s revenue perform in the second quarter of 2026?
SS Innovations generated Q2 2026 revenue of $13.9 million, up 39.4% from $10.0 million in Q2 2025. Growth was led by SSi Mantra system sales of $12.4 million, higher instrument sales, and expanded warranty revenue.

What were SSII’s net loss and earnings per share for Q2 2026?
For Q2 2026, SS Innovations reported a net loss of $2.7 million, compared with a $0.3 million loss in Q2 2025. Net loss per share was $(0.01) basic and diluted, reflecting higher operating expenses versus the prior-year quarter.

How fast is SS Innovations’ SSi Mantra installed base and surgery volume growing?
In Q2 2026, SSi Mantra installations increased to 30 from 23 a year earlier, while the cumulative installed base rose to 224 systems. Quarterly surgeries reached 2,528, and cumulative surgeries grew to 12,272, indicating strong utilization growth.

What were SSII’s first-half 2026 financial results?
For the six months ended June 30, 2026, SS Innovations reported revenue of $25.0 million, up 65.6% from $15.1 million in 2025, and a net loss of $6.2 million, similar to the prior-year loss of $5.9 million, as expenses tracked higher growth.

What is SSII’s cash position and how was it funded in 2026?
As of June 30, 2026, SS Innovations held $22.7 million in cash and cash equivalents, up from $9.6 million at year-end 2025. The increase was mainly driven by $18.4 million in net proceeds from a private investment in public equity transaction.

How are SSII’s operating expenses evolving, particularly R&D and stock-based compensation?
In Q2 2026, total operating expenses were $9.4 million, up from $5.8 million in Q2 2025. Research & development expense rose to $2.4 million, and stock-based compensation reached $2.2 million, reflecting investment in technology and equity incentives.
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 8-K

 

Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

 

Date of report (Date of earliest event reported): August 13, 2026

 

SS INNOVATIONS INTERNATIONAL, INC.

(Exact name of registrant as specified in its charter)

 

Florida   001-42615   47-3478854
(State or Other Jurisdiction
of Incorporation)		   (Commission File Number)   (IRS Employer
Identification No.)

 

405, 3rd Floor, iLabs Info Technology Centre
Udyog Vihar, Phase III
Gurugram, Haryana India		   122016
(Address of Principal Executive Offices)   (Zip Code)

 

Registrant’s telephone number, including area code: +91 73375 53469

 

 

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each Class   Trading Symbol   Name of each exchange on which registered
Common Stock   SSII   The Nasdaq Stock Market LLC

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company ☐

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

As used in this Current Report on Form 8-K (this “Current Report”), the terms “SSi,” “the Company,” “we,” “us” and “our” refer to SS Innovations International, Inc. and its subsidiaries.

 

 

 

 

 

 

Item 2.02 Results of Operations and Financial Condition.

 

The disclosure set forth in Item 7.01 of this Current Report is incorporated herein by reference.

 

Item 7.01 Regulation FD Disclosure.

 

On August 13, 2026, the Company issued a press release announcing financial results for the three and six month periods ended June 30, 2026, and the filing with the Securities and Exchange Commission of its Quarterly Report on Form 10-Q for the quarter ended June 30, 2026.

 

A copy of the press release is included with this Current Report as Exhibit 99.1.

 

The information set forth in Items 2.02 and 7.01 of this Current Report and in the press release included as Exhibit 99.1 to this Current Report, are deemed to be “furnished” and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section. The information set forth in Items 2.02 and 7.01 of this Current Report and in the press release included as Exhibit 99.1 to this Current Report, shall not be deemed incorporated by reference into any filing under the Exchange Act or the Securities Act of 1933, as amended, regardless of any general incorporation language in such filing.

 

Forward-Looking Statements

 

This Current Report and the press release included as Exhibit 99.1 to this Current Report, includes statements that are not historical facts and are considered forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical statements of fact and statements regarding the Company’s intent, belief or expectations, including, but not limited to, statements regarding the Company’s fourth quarter 2025 and full year 2025 preliminary results, product development, clinical and regulatory timelines, market opportunity, competitive position, possible or assumed future results of operations and other statements that are predictive in nature. The words “anticipate,” “assume,” “believe,” “estimate,” “expect,” “will,” “intend,” “may,” “plan,” “project,” “should,” “could,” “seek,” “designed,” “potential,” “forecast,” “target,” “objective,” “goal,” or the negatives of such terms or other similar expressions to identify such forward-looking statements. These statements relate to future events or SSi’s future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements.

 

1

 

 

Item 9.01 Financial Statements and Exhibits.

 

(d) Exhibits

 

Exhibit No.   Description
99.1*   Press Release, dated August 13, 2026
104   Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

*Furnished not filed

 

2

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Dated: August 13, 2026 SS INNOVATIONS INTERNATIONAL, INC.
     
  By:  /s/ Sudhir Srivastava
    Sudhir Srivastava, M.D.
    Chairman, Chief Executive Officer, Interim Chief Financial Officer

 

3

 

Exhibit 99.1

 

 

SS Innovations Reports Second Quarter 2026 Financial Results

Record quarterly revenue driven by continuing strong growth in SSi Mantra unit sales

 

FORT LAUDERDALE, FLA – August 13, 2026 – SS Innovations International, Inc. (the “Company” or “SS Innovations”) (Nasdaq: SSII), a developer of innovative surgical robotic technologies dedicated to making robotic surgery affordable and accessible to a global population, today announced unaudited financial results for the three and six months ended June 30, 2026. The Company also filed its Quarterly Report on Form 10-Q for the quarter ended June 30, 2026, with the Securities and Exchange Commission on August 13, 2026.

 

Second Quarter 2026 Overview

 

●Revenue increased 39.4% to $13.9 million from $10.0 million in the second quarter of 2025.

 

●Gross margin equaled 50.9%, compared to 59.1% in the second quarter of 2025.

 

●Gross profit rose 20.0% to $7.1 million from $5.9 million in the second quarter of 2025.

 

●Net loss of $2.7 million, or $(0.01) per diluted share, compared to a net loss of $0.3 million, or $(0.00) per diluted share, in the second quarter of 2025.

 

●SSi Mantra surgical robotic system installations totaled 30, up 30.4% from 23 installations in the second quarter of 2025.

 

First Half 2026 Overview

 

●Revenue increased 65.6% to $25.0 million from $15.1 million in the first half of 2025.

 

●Gross margin expanded to 49.6% from 46.3% in the first half of 2025.

 

●Gross profit rose 77.5% to $12.4 million from $7.0 million in the first half of 2025.

 

●Net loss of $6.2 million, or $(0.03) per diluted share, compared to a net loss of $5.9 million, or $(0.03) per diluted share, in the first half of 2025.

 

●SSi Mantra surgical robotic system installations totaled 56, up 47.4% from 38 installations in the first half of 2025.

 

As of June 30, 2026

 

●Long-term debt of $0.

 

●Cash and cash equivalents totaled $13.6 million, excluding restricted cash.

 

●SSi Mantra cumulative installed base totaled 224 systems across twelve countries and cumulative surgeries reached 12,272, including 175 telesurgeries, 637 cardiac procedures and 222 pediatric surgeries.

 

 

 

 

CEO Commentary

 

Dr. Sudhir Srivastava, Chairman of the Board and Chief Executive Officer of SS Innovations, commented, “SS Innovations delivered record quarterly revenue of $13.9 million in the second quarter of 2026, up 39% year over year, reflecting strong adoption of our advanced SSi Mantra surgical robotic system by leading hospitals and surgeons in India and abroad. We continue to expand awareness of the SSi Mantra’s cutting-edge surgical robotic technology, differentiated features, user friendliness, training capabilities, and cost efficiency. Recently the SSi Mantra has been showcased in several high-profile international long-distance telesurgeries as well as at this year’s Global Multi-Specialty Robotic Surgery Conference in New Delhi, which we hosted, and the 2026 Society of Robotic Surgery Annual Meeting in Florida. We appreciate the widespread positive reception of the SSi Mantra at these events and were excited to win the ‘Outstanding Company’ category at the 2026 Surgical Robotics Industry Awards in June.”

 

Dr. Srivastava continued, “We remain enthusiastic about our ability to lead our foundational market of India, which is immense and growing, while expanding our global footprint in underserved countries and aiming for entry into the United States and European Union. We expect the U.S. Food and Drug Administration to complete its review of our 510(k) premarket notification for the SSi Mantra by the end of the first quarter of 2027. We also continue along the pathway towards a European Union CE marking certification for the SSi Mantra, which we believe we can obtain by the end of 2026. Our SSI Mantra has been engineered for precision, built to perform, and created to democratize access to advanced surgical robotic care—all underpinning our confidence in the future.”

 

Select Business Highlights in Second Quarter 2026

 

●In April 2026, the Company hosted the Global Multi-Specialty Robotic Surgery Conference in New Delhi, India, bringing together distinguished surgeons, global thought leaders and prominent innovators to discuss and shape the future of robotic and minimally invasive surgery. The event drew more than 1,600 attendees and 1,800 virtual participants from 19 nations.

 

●On May 7, 2026, the Company announced the successful completion of a landmark telesurgery performed in Perth, Australia, more than 4,500 miles from the patient in India, utilizing the SSi Mantra surgical robotic system (the “SSi Mantra”) and the SSi MantrAsana tele-surgeon console.

 

●On June 4, 2026, the Company announced the successful completion of a robotic-assisted heart procedure performed with the SSi Mantra across approximately 12,500 miles (20,000 kilometers) of fiber network distance between Guyana and India, making it the world’s then longest-distance robotic telesurgery.

 

●In June 2026, the Company won the Outstanding Company category at the 2026 Surgical Robotics Industry Awards, surpassing nine other well-established finalists vying for this coveted industry accolade.

 

●In June 2026, the Company’s subsidiary, the SS International Centre for Robotics Surgery, graduated its first class in a specialized training course designed to provide surgeons and other healthcare professionals with classroom instruction and hands-on learning in robotic-assisted cardiac surgery using the advanced SSi Mantra surgical robotic system.

 

2

 

 

Subsequent Event

 

●On July 29, 2026, a team of surgeons led by Dr. Sudhir Srivastava utilized the SSi Mantra to perform a successful robotic telesurgery between Colombia and India, spanning more than 13,600 miles (22,000 kilometers) of fiber network distance and eclipsing the previous longest-distance telesurgery record also held by the Company. The telesurgery, a robotic sleeve gastrectomy, was performed remotely from Hospital Internacional de Colombia in Bucaramanga, Colombia on a patient located at Mohak Bariatrics and Robotics in Indore, India.

 

Revenue Breakdown and Summary of Installations / Surgeries

 

Category  Q2 2025   Q2 2026   Variance   Percentage 
System sales  $8,781,038   $12,361,986   $3,580,948    40.8%
Instrument sales   1,007,830    1,142,525    134,695    13.4%
Warranty sales   193,359    419,002    225,643    116.7%
Lease income   18,078    16,196    (1,882)   -10.4%
Total revenue  $10,000,305   $13,939,709   $3,939,404    39.4%
                     
SSi Mantra installations   23    30    7    30.4%
Cumulative installed base1   105    224    119    113.3%
                     
SSi Mantra surgeries   1,042    2,528    1,486    142.6%
Cumulative surgeries1   4,657    12,272    7,615    163.5%

 

1at period end

 

Category  H1 2025   H1 2026   Variance   Percentage 
System sales  $13,283,520   $21,937,356   $8,653,836    65.1%
Instrument sales   1,485,038    2,293,753    808,715    54.5%
Warranty sales   315,863    776,688    460,825    145.9%
Lease income   36,494    33,278    (3,216)   -8.8%
Total revenue  $15,120,915   $25,041,075   $9,920,160    65.6%
                     
SSi Mantra installations   38    56    18    47.4%
SSi Mantra surgeries   1,861    4,387    2,526    135.7%

 

About SS Innovations

 

SS Innovations International, Inc. (Nasdaq: SSII) develops innovative surgical robotic technologies with a vision to make the benefits of robotic surgery affordable and accessible to a larger segment of the global population. The Company’s product range includes its proprietary “SSi Mantra” surgical robotic system and its comprehensive suite of “SSi Mudra” surgical instruments, which support a variety of surgical robotic procedures including cardiac surgery. Headquartered in India, SS Innovations is a U.S. company focused on expanding the global presence of its technologically advanced, user-friendly, and cost-effective surgical robotic solutions. Visit the Company’s website at ssinnovations.com or LinkedIn for more information and updates.

 

3

 

 

About the SSi Mantra

 

The SSi Mantra surgical robotic system is a user-friendly, modular, multi-arm system with advanced technology features, including: 3 to 5 modular robotic arms, an open-faced ergonomic surgeon command center, a large 3D 4K monitor, a touch panel monitor for all patient related information display, a virtual real-time image of the robotic patient side arm carts, and the ability for superimposition of 3D models of diagnostic imaging. The optional SSi MantrAsana tele-surgeon console is a portable, compact alternative to the SSi Mantra’s standard surgeon command center that provides equivalent control functionality while enabling enhanced portability, ergonomic flexibility, and telesurgery capability. The SSi Mantra utilizes over 40 different types of robotic endo-surgical instruments to support different specialties, including cardiac surgery, and 5mm instruments for the pediatric population and ENT surgeries. A vision cart provides the table-side team with the same magnified 3D 4K view as the surgeon to provide better safety and efficiency. The SSi Mantra has been clinically validated in India in more than 170 different types of surgical procedures.

 

Forward Looking Statements

 

This press release may contain statements that are not historical facts and are considered forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. The words “anticipate,” “assume,” “believe,” “estimate,” “expect,” “will,” “intend,” “may,” “plan,” “project,” “should,” “could,” “seek,” “designed,” “potential,” “forecast,” “target,” “objective,” “goal,” or the negatives of such terms or other similar expressions to identify such forward-looking statements. These statements relate to future events or SS Innovations’ future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.

 

Investor Contact:

 

The Equity Group

Kalle Ahl, CFA

T: (303) 953-9878

kalle.ahl@theequitygroup.com

 

Devin Sullivan, Managing Director

T: (212) 836-9608

devin.sullivan@theequitygroup.com

 

Media Contact:

 

RooneyPartners LLC

Kate Barrette

T: (212) 223-0561

kbarrette@rooneypartners.com

 

4

 

 

SS INNOVATIONS INTERNATIONAL, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

 

   As of 
   June 30,
2026		   December 31,
2025		 
   (Unaudited)     
ASSETS        
Current Assets:        
Cash and cash equivalents  $13,647,430   $3,206,406 
Restricted cash   8,648,461    5,937,650 
Accounts receivable, net   16,986,089    12,398,542 
Inventory   18,481,603    17,064,002 
Prepaids and other current assets   13,690,369    10,166,823 
Total Current Assets   71,453,952    48,773,423 
           
Property, plant, and equipment, net   8,637,145    9,100,546 
Right of use asset, net   3,045,707    2,754,020 
Deferred tax assets, net   843,544    533,727 
Accounts receivable, net-non-current   8,511,054    8,566,654 
Restricted cash- non-current   375,132    458,964 
Prepaids and other non-current assets   4,115,479    4,038,883 
Total Assets  $96,982,013   $74,226,217 
           
LIABILITIES AND STOCKHOLDERS’ EQUITY          
Current Liabilities          
Bank overdraft facility  $14,634,960   $11,442,948 
Current portion of operating lease liabilities   687,707    579,169 
Accounts payable   5,265,754    5,127,193 
Deferred revenue   3,916,269    3,266,686 
Accrued expenses & other current liabilities   7,387,037    5,825,702 
Total Current Liabilities   31,891,727    26,241,698 
           
Operating lease liabilities, less current portion   2,549,823    2,337,697 
Deferred Revenue- non-current   8,695,725    7,139,807 
Other non-current liabilities   443,515    288,764 
Total Liabilities  $43,580,790   $36,007,966 
Commitments and contingencies          
Stockholders’ equity:          
           
Preferred stock, authorized 5,000,000 shares of Series A, Non-Convertible Preferred Stock, $0.0001 par value per share; 1,000 shares issued and outstanding as of June 30, 2026 and December 31, 2025   1    1 
Common stock, 250,000,000 shares authorized, $0.0001 par value, 200,169,035 shares and 194,165,141 shares issued and outstanding as of June 30, 2026 and December 31, 2025 respectively   20,017    19,416 
Accumulated other comprehensive loss   (3,994,166)   (2,022,660)
Additional paid in capital   118,509,309    95,111,511 
Capital reserve   899,917    899,917 
Accumulated deficit   (62,033,855)   (55,789,934)
Total stockholders’ equity   53,401,223    38,218,251 
Total liabilities and stockholders’ equity  $96,982,013   $74,226,217 

 

5

 

 

SS INNOVATIONS INTERNATIONAL, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

(Unaudited)

 

   For The Three months ended 
   June 30,
2026		   June 30,
2025		 
REVENUES        
System sales   12,361,986    8,781,038 
Instrument sales   1,142,525    1,007,830 
Warranty sales   419,002    193,359 
Lease income   16,196    18,078 
Total revenue  $13,939,709   $10,000,305 
Cost of revenue   (6,838,759)   (4,085,247)
           
GROSS PROFIT   7,100,950    5,915,058 
           
OPERATING EXPENSES:          
Research & development expense   2,395,694    498,600 
Stock-based compensation expense   2,178,156    1,630,295 
Depreciation and amortization expense   346,364    260,361 
Selling, general and administrative expense   4,452,090    3,428,788 
TOTAL OPERATING EXPENSES   9,372,304    5,818,044 
           
(Loss) / Profit from operations   (2,271,354)   97,014 
           
OTHER INCOME/ (EXPENSE):          
Interest Expense   (344,761)   (216,800)
Interest and other income, net   460,041    216,824 
TOTAL OTHER INCOME, NET   115,280    24 
           
(LOSS) / PROFIT BEFORE INCOME TAXES   (2,156,074)   97,038 
Income tax expense   505,276    353,729 
NET LOSS  $(2,661,350)  $(256,691)
           
Net loss per share - basic and diluted  $(0.01)  $(0.00)
Weighted average- basic shares   200,136,068    193,571,635 
Weighted average- diluted shares   209,422,550    202,835,698 
           
CONSOLIDATED STATEMENTS OF OTHER COMPREHENSIVE LOSS          
           
NET LOSS  $(2,661,350)  $(256,691)
           
OTHER COMPREHENSIVE LOSS          
Foreign currency translation loss   (404,867)   (66,014)
Retirement Benefit   (25,651)   (35,660)
RECLASSIFICATION ADJUSTMENTS:          
Retirement Benefit (1)   3,033    - 
Income tax effects relating to retirement benefit (1)   6,456    5,772 
TOTAL OTHER COMPREHENSIVE LOSS   (421,029)   (95,902)
TOTAL COMPREHENSIVE LOSS  $(3,082,379)  $(352,593)

 

(1)These are reclassified to net loss and are included in other expense in the condensed consolidated statements of operations.

 

6

 

 

SS INNOVATIONS INTERNATIONAL, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

(Unaudited)

 

   For The Six months ended 
   June 30,
2026		   June 30,
2025		 
         
REVENUES        
System sales   21,937,356    13,283,520 
Instrument sales   2,293,753    1,485,038 
Warranty sales   776,688    315,863 
Lease income   33,278    36,494 
Total revenue  $25,041,075   $15,120,915 
Cost of revenue   (12,612,904)   (8,118,649)
           
GROSS PROFIT   12,428,171    7,002,266 
           
OPERATING EXPENSES:          
Research & development expense   3,391,134    1,508,695 
Stock-based compensation expense   5,322,471    4,009,507 
Depreciation and amortization expense   670,111    469,243 
Selling, general and administrative expense   8,941,387    6,638,587 
TOTAL OPERATING EXPENSES   18,325,103    12,626,032 
           
Loss from operations   (5,896,932)   (5,623,766)
           
OTHER INCOME/ (EXPENSE):          
Interest Expense   (628,812)   (596,705)
Interest and other income, net   938,451    636,156 
TOTAL OTHER INCOME, NET   309,639    39,451 
           
LOSS BEFORE INCOME TAXES   (5,587,293)   (5,584,315)
Income tax expense   656,628    353,729 
NET LOSS  $(6,243,921)  $(5,938,044)
           
Net loss per share - basic and diluted  $(0.03)  $(0.03)
Weighted average- basic shares   198,083,415    186,244,872 
Weighted average- diluted shares   207,369,897    195,502,268 
           
CONSOLIDATED STATEMENTS OF OTHER COMPREHENSIVE LOSS          
           
NET LOSS  $(6,243,921)  $(5,938,044)
           
OTHER COMPREHENSIVE LOSS          
Foreign currency translation loss   (1,961,978)   (59,138)
Retirement Benefit   (20,870)   (19,822)
RECLASSIFICATION ADJUSTMENTS:          
Retirement Benefit (1)   6,089    - 
Income tax effects relating to retirement benefit (1)   5,253    5,772 
TOTAL OTHER COMPREHENSIVE LOSS   (1,971,506)   (73,188)
TOTAL COMPREHENSIVE LOSS  $(8,215,427)  $(6,011,232)

 

(1) These are reclassified to net loss and are included in other expense in the condensed consolidated statements of operations.

 

7

 

 

SS INNOVATIONS INTERNATIONAL, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

 

   For the six months ended 
   June 30,
2026		   June 30,
2025		 
Cash flows from operating activities:        
         
Net loss  $(6,243,921)  $(5,938,044)
Adjustments to reconcile net loss to net cash used in operating activities:          
Depreciation and amortization   670,111    469,243 
Operating lease expense   471,459    423,593 
Interest expense   84,938    179,455 
Interest and other income, net   (814,218)   (338,191)
Deferred income tax benefit   (336,457)   (365,641)
Stock-based compensation expense   5,368,330    4,009,507 
Provision for / (reversal of) credit loss reserve, net   297,882    (228,846)
Provision for slow moving inventory   (6,225)   - 
           
Changes in operating assets and liabilities:          
Accounts receivable, net   (4,286,490)   (2,337,679)
Inventory, net   (1,411,376)   (10,221,214)
Deferred revenue   2,205,501    1,739,652 
Prepaids and other assets   (3,955,550)   (2,572,481)
Accounts payable   127,728    3,782,409 
Income taxes payable, net   933,184    620,586 
Accrued expenses & other liabilities   782,787    1,629,136 
Operating lease payment   (434,132)   (407,188)
Net cash used in operating activities   (6,546,449)   (9,555,703)
           
Cash flows from investing activities:          
Purchase of property, plant and equipment   (215,060)   (1,189,452)
Net cash used in investing activities   (215,060)   (1,189,452)
           
Cash flows from financing activities:          
Proceeds from bank overdraft facility (net)   3,192,012    (1,014,593)
Proceeds from private investment in public equity, net of transaction costs   18,446,498    - 
Proceeds from issuance of convertible notes to principal shareholder   -    28,000,000 
Repayment of convertible notes to principal shareholder, including interest   -    (4,212,637)
Repayment of convertible notes to other investors, including interest   -    (1,068,849)
Net cash provided by financing activities   21,638,510    21,703,921 
           
Net change in cash   14,877,001    10,958,766 
Effect of exchange rate on cash   (1,808,998)   23,377 
Cash and cash equivalents at the beginning of the period   9,603,020    6,623,535 
Cash and cash equivalents at end of the period  $22,671,023   $17,605,678 

 

8

 

Source: View Original Filing on SEC EDGAR

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