- SS Innovation’s SSi Mantra system was used in more than 50 robotic surgeries in a single day at Mohak Bariatrics and Robotics in Indore, highlighting growing clinical utilization in India.
- The milestone comes as SS Innovations reports 224 SSi Mantra systems installed across 12 countries, providing a growing installed base for future procedure and instrument revenue.
- Second-quarter 2026 installations reached 30 systems, above the 25 systems modeled by the analyst cited in the supplied report.
- Quarterly revenue reached $13.9 million, up 39% year over year, while system sales increased 41% to $12.4 million.
- FDA review of the SSi Mantra 510(k) application is now expected by the end of the first quarter of 2027, while European CE marking remains targeted for the end of 2026.
- The company’s progress in India gives it a major commercial base while it pursues entry into the U.S. and European surgical robotics markets.
SS Innovations International (NASDAQ: SSII), a developer of innovative surgical robotic technologies, is gaining another indication of the scale that its SSi Mantra surgical robotic system can support in India, where more than 50 robotic procedures were performed in a single day at Mohak Bariatrics and Robotics in Indore.
The milestone, announced by SS Innovations on LinkedIn, came on India’s 80th Independence Day and involved procedures conducted under the leadership of Dr. Mohit Bhandari. The event is notable less for the headline number than for what it demonstrates about the potential utilization of robotic surgery in a large healthcare market where adoption is still developing (https://ibn.fm/hUbni).
For SS Innovations, India is already the most important commercial market for the SSi Mantra. The company has spent roughly three years building an installed base there, creating a foundation from which procedure volumes and recurring sales of instruments and other consumables can grow. The latest operating figures suggest that this strategy is gaining traction.
According to an analysis by Lucid Capital Markets, SS Innovations placed 30 SSi Mantra systems during the second quarter of 2026, exceeding the analyst’s expectation of 25. Cumulative installations reached 224 systems across 12 countries, representing a substantial increase from the 194 systems reported at the end of the first quarter. First-half installations reached 56 systems, compared with 38 in the first half of 2025 (https://ibn.fm/CCO32).
The corresponding financial performance also reflected the increase in system placements. Second-quarter revenue reached $13.9 million, up 39% from a year earlier, while system sales rose 41% to $12.4 million. Gross margin was 50.9%.
More important for the longer-term economics of a surgical robotics business, utilization is increasing alongside the installed base. The company reported 2,528 robotic surgeries during the quarter, a 143% year-over-year increase. Cumulative procedures performed using SSi Mantra reached 12,272, including 637 cardiac and 222 pediatric cases.
The 50-plus procedure day in Indore therefore fits into a broader pattern: hospitals that have adopted robotic systems are beginning to use them at increasingly high volumes. That matters because surgical robotics economics do not end with the sale of the capital equipment. Once a robotic system is installed, procedures can generate recurring demand for instruments and related products. Higher utilization can therefore increase the economic value of an installed system over its lifetime.
India offers SS Innovations an unusually large market in which to establish that model. The country has a large and increasingly sophisticated private healthcare sector, while demand for advanced surgical procedures continues to expand. Robotic surgery can also address geographic disparities in access to specialist expertise, particularly as SS Innovations develops its telesurgery capabilities.
The company has already demonstrated that its platform can support procedures performed over long distances. During the second quarter and early third quarter, SS Innovations reported telesurgery demonstrations connecting surgeons and patients across thousands of miles, including a robotic cardiac procedure between Guyana and India. This was later followed by an even longer world record telesurgery between Colombia and India.
Telesurgery remains an emerging application rather than the company’s principal source of revenue. The more immediate commercial opportunity is the deployment of SSi Mantra systems and the development of procedure volumes around them. The system itself is designed as a multi-arm robotic platform, with five independently controlled robotic arms and an open-console, high-definition stereoscopic interface. Its modular architecture is intended to support multiple surgical specialties.
That breadth is important when considering the company’s positioning. Affordability is part of the proposition, particularly in markets where the capital cost of robotic systems can constrain adoption. But SS Innovations is attempting to compete on the capabilities of the platform itself rather than simply presenting SSi Mantra as a lower-cost substitute.
The next major test is international regulatory expansion. SS Innovations has submitted its SSi Mantra 510(k) application to the U.S. Food and Drug Administration and is pursuing CE marking for the European Union. The company now expects completion of the FDA review by the end of the first quarter of 2027, one quarter later than previously anticipated. The CE-marking target remains the end of 2026.
U.S. and European approvals could materially expand the addressable market for SSi Mantra. Until then, India’s installed base provides SS Innovations with an opportunity to continue building clinical experience and refining its commercial infrastructure. Training is becoming an important part of that strategy. The company has established the SS International Centre for Robotic Surgery and graduated its first robotic cardiac training class in June. A larger pool of trained surgeons can support higher utilization and potentially make future system placements easier.
The company’s financial position remains a consideration for investors. The second-quarter report cited cash of $13.6 million, excluding restricted cash, and an operating cash burn of $6.5 million during the first half of 2026. Long-term debt was reported at zero, although the company had a $14.6 million bank revolving facility.
“The Q2 results reconfirm that SSII can disrupt the surgical robotics market and create an excellent business in emerging markets while awaiting U.S./EU approval, and we reiterate BUY rating, $7 price target,” the Lucid Capital Markets report states.
For more information, visit the company’s website at www.SSInnovations.com.
NOTE TO INVESTORS: The latest news and updates relating to SSII are available in the company’s newsroom at https://ibn.fm/SSII
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