SS Innovations International (SSII) Q1 2025 earnings summary

Executive summary

• Achieved record quarterly revenue of $5.1M in Q1 2025, up 40.8% YoY, driven by higher system and instrument sales and expanded installations, both domestically and internationally.

• Net loss narrowed to $5.7M in Q1 2025 from $9.8M in Q1 2024, mainly due to lower stock compensation expense.

• Gross margin expanded to 21.23%, a 121 basis point increase YoY, due to lower raw material costs.

• SSi Mantra 3 installations rose 66.7% to 15 units, with cumulative installations reaching 78 and 3,568 surgeries performed.

• Uplisted to Nasdaq Capital Market in April 2025, signaling a new phase of global expansion.

Financial highlights

• Q1 2025 revenue: $5,120,610 (system sales $4.5M, instrument sales $477K, warranty $123K, lease $18K), up 40.8% YoY.

• Gross profit: $1,087,208, up 49.3% YoY.

• Net loss: $5,681,353, improved from $9,841,753 YoY.

• Cash and equivalents at March 31, 2025: $15.9M; no long-term debt reported.

• Basic and diluted loss per share: $(0.03) in Q1 2025 vs. $(0.06) in Q1 2024.

Outlook and guidance

• On track to submit De Novo application to FDA for SSi Mantra 3 by July 2025 and pursuing CE Mark decision for late 2025.

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

• Plans to raise additional capital through private or public offerings in 2025.

• Existing cash and income from operations are not sufficient for the next 12 months; ongoing efforts to secure further funding.

• Focused on expanding presence beyond current seven countries.