SS Innovations International (SSII) Q4 2025 earnings summary

Executive summary

• Revenue grew 79.1% year-over-year in Q4 2025 to $14.5 million, and 105.7% for the full year to $42.5 million.

• SSi Mantra installations surged 81.8% in Q4 and 119.1% for the year, with a cumulative installed base of 168 units across ten countries.

• Net loss narrowed to $2.5 million in Q4 and $12.1 million for the year, both improved from prior-year periods.

• Achieved significant milestones in telesurgery and expanded into new global markets, with regulatory progress in the US and EU.

Financial highlights

• Q4 gross margin was 43.9%, down from 48.9% in Q4 2024; full-year gross margin improved to 46.0% from 40.9%.

• Gross profit increased 60.7% in Q4 and 131.2% for the year.

• Cash and cash equivalents at year-end were $3.2 million, with no long-term debt.

• Operating expenses for the year totaled $27.7 million, flat year-over-year.

Outlook and guidance

• Anticipates continued strong growth in 2026, driven by further SSi Mantra deployments and market expansion.

• Expects FDA review of 510(k) submission for SSi Mantra by mid-2026 and aims for EU CE marking within the year.