SS Innovations Q1 Revenue Climbs 117% to $11.1M with 48% Margin
Revenue rose 116.8% to $11.1 million and gross margin expanded to 48.0% in Q1 2026, driving gross profit up 390% to $5.3 million while net loss narrowed to $3.6 million. Installations jumped 73% to 26 systems and the company raised $18.6 million in a private placement.
1. Q1 Financial Results
SS Innovations delivered record quarterly revenue of $11.1 million, up 116.8% from $5.1 million a year earlier, while gross margin expanded to 48.0% versus 21.2%. Gross profit surged 390% to $5.3 million and net loss narrowed to $3.6 million, or $0.02 per diluted share.
2. Installations and Procedures Growth
SSi Mantra system installations reached 26 in the quarter, a 73.3% increase from 15 installations in Q1 2025, bringing the cumulative installed base to 194 units across 11 countries. Total procedures rose to 1,859 from 787, a 136.2% increase, with cumulative surgeries hitting 9,744.
3. Regulatory Approvals and Private Placement
The company secured regulatory approvals for multiple indications in Sri Lanka and Kenya and for telesurgery in Indonesia and the Philippines. In March 2026, SS Innovations completed a private placement raising approximately $18.6 million to fund global expansion initiatives.
4. Cash Position and Outlook
As of March 31, cash and cash equivalents stood at $16.0 million with zero long-term debt. Management expects FDA 510(k) clearance and EU CE marking for the SSi Mantra this year and plans to strengthen its position in India, the US and other underserved markets.