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