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SS Innovations Reports First Quarter 2025 Financial Results
Record Quarterly Revenue of $5.1 Million Driven by Higher SSi Mantra 3 Unit SalesOn Track for July 2025 De Novo Application to the FDA for SSi Mantra 3 FORT
About this update from Ss Innovations International Inc.
[{"type":"text","content":"Record Quarterly Revenue of $5.1 Million Driven by Higher SSi Mantra 3 Unit SalesOn Track for July 2025 De Novo Application to the FDA for SSi Mantra 3 FORT LAUDERDALE, Fla., May 14, 2025 (GLOBE NEWSWIRE) -- 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 months ended March 31, 2025. The Company also filed its Quarterly Report on Form 10-Q for the quarter ended March 31, 2025, with the Securities and Exchange Commission on May 14, 2025. First Quarter 2025 Overview Revenue increased 40.8% to $5.1 million from $3.6 million in the first quarter of 2024.Gross margin expanded 121 basis points to 21.23% from 20.02% in the first quarter of 2024.Gross profit rose 49.3% to $1.1 million from $0.7 million in the first quarter of 2024.Net loss of $5.7 million, or $(0.03) per diluted share, compared to net loss of $9.8 million, or $(0.06) per diluted share, in the first quarter of 2024.SSi Mantra surgical robotic system installations totaled 15, up 66.7% from 9 installations in the first quarter of 2024. As of March 31, 2025 Long-term debt of $0.Cash and cash equivalents totaled $15.9 million, excluding restricted cash.SSi Mantra cumulative installed base totaled 78 and cumulative surgeries reached 3,568. Subsequent Events On April 25, 2025, the Company’s common stock uplisted to The Nasdaq Capital Market®. CEO CommentaryDr. Sudhir Srivastava, Chairman of the Board and Chief Executive Officer of SS Innovations, commented, “In the first quarter of 2025, we achieved record quarterly revenue of $5.1 million, up 40.8% from $3.6 million in the first quarter of 2024, driven by higher unit sales of our innovative, cutting-edge SSi Mantra 3 surgical robotic system to leading healthcare facilities in India and abroad. Our gross margin also improved during the quarter, primarily reflecting a reduction in raw material prices. With an expanding installed base and growing utilization of SSi Mantra 3 by medical professionals globally, SS Innovations is well positioned for continued robust organic growth during the remainder of the year.” Dr. Srivastava continued, “After quarter end, we uplisted to Nasdaq, an exciting mil...