SS Innovations International, Inc. SSII
focused on transforming patient lives by democratizing access to advanced surgical robotics technologies. We design, manufacture and
market an advanced, next-generation and affordable surgical robotic system called the SSi Mantra Surgical Robotic System (the "SSi
Mantra") intended for use in urology, general, gynecology, colorectal, gastroenterology, head and neck, thoracic and cardiac
surgeries. While surgical robotic systems have gained acceptance globally in the past two decades for providing greater efficiency, better
Valuation FY2025 figures against the last close
Where the revenue comes from as reported in the latest 10-K
Revenue by geography
- India
- Philippines
- Indonesia
- South America
- Iraq
- Cyprus
- Other
| Region | FY2025 |
|---|---|
| India | $36.8M |
| Philippines | $2.2M |
| Indonesia | $1.0M |
| South America | $1.0M |
| Iraq | $766.3K |
| Cyprus | $522.3K |
| Other | $135.3K |
As the company reported it, from the “Deferred Revenue - Schedule of Revenues by Geographic Region (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $42.5M | $20.6M | $5.9M | $1.4M | — | — | — | — | — | — |
| Cost of revenue | $22.9M | $12.2M | $5.1M | $1.4M | — | — | — | — | — | — |
| Gross profit | $19.5M | $8.5M | $725.5K | $60.6K | — | — | — | — | — | — |
| R&D | $3.7M | $2.5M | $1.1M | $987.4K | $1.0K | $3.0K | $60.9K | $27.1K | $71.2K | $127.6K |
| SG&A | $14.8M | $10.2M | $10.1M | $1.9M | $458.8K | $287.7K | $752.0K | $404.2K | $939.6K | $334.9K |
| Total operating expenses | $27.7M | $27.4M | $21.0M | $3.0M | $1.4M | $1.1M | $3.4M | $960.4K | $1.0M | $462.5K |
| Operating income | -$8.2M | -$19.0M | -$20.3M | -$3.0M | — | — | — | — | — | — |
| Interest expense | $1.1M | $973.2K | $894.6K | $265.5K | — | $1.1K | $19.7K | — | $27.0K | $22.5K |
| Pre-tax income | -$8.2M | -$19.2M | -$20.9M | -$3.2M | -$1.5M | -$1.1M | -$3.4M | -$960.3K | -$1.0M | -$485.0K |
| Income tax | $4.0M | — | — | — | — | — | — | — | — | — |
| Net income | -$12.1M | -$19.2M | -$20.9M | -$3.2M | -$1.5M | -$1.1M | -$3.4M | -$960.3K | -$1.0M | -$485.0K |
| EPS, basic | -0.06 | -0.11 | -0.14 | -0.03 | -0.05 | -0.05 | -0.16 | — | — | — |
| EPS, diluted | -0.06 | -0.11 | -0.14 | -0.03 | -0.05 | -0.05 | -0.16 | -0.05 | -0.05 | -0.03 |
| Shares, diluted (wtd. avg.) | 198.7M | 181.2M | 152.1M | 128.2M | 28.5M | 23.4M | 21.5M | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $3.2M | $466.5K | $7.1M | $274.6K | $87.7K | $160.7K | $28.5K | $35.7K | $452.6K | $248.2K |
| Receivables | $12.4M | $4.5M | $1.9M | $156.9K | — | — | — | — | — | — |
| Inventory | $17.1M | $10.2M | $7.0M | $904.1K | — | — | — | — | — | — |
| Total current assets | $48.8M | $27.4M | $21.4M | $4.1M | $408.1K | $163.0K | $34.8K | $41.5K | $463.0K | $248.7K |
| Property, plant and equipment | $9.1M | $5.4M | $706.4K | $417.0K | $20.5K | $38.2K | $84.6K | $35.3K | $3.4K | — |
| Other intangibles | — | — | — | — | — | — | — | $43.5K | $43.5K | $43.5K |
| Total assets | $74.2M | $42.4M | $31.5M | $7.0M | $428.6K | $317.9K | $132.5K | $145.4K | $510.0K | $292.2K |
| Accounts payable | $5.1M | $2.3M | $901.6K | $165.5K | $124.6K | $131.7K | $141.4K | $10.0K | $6.1K | $54.8K |
| Short-term debt | — | — | $510.2K | $120.9K | — | — | — | — | — | — |
| Total current liabilities | $26.2M | $21.3M | $8.5M | $7.8M | $287.3K | $1.2M | $1.2M | $368.5K | $408.9K | $647.3K |
| Long-term debt | — | — | $510.2K | $469.0K | — | — | — | — | — | — |
| Total liabilities | $36.0M | $28.9M | $11.8M | $9.7M | — | — | — | — | — | — |
| Retained earnings | -$55.8M | -$43.7M | -$24.5M | -$3.6M | -$8.5M | -$7.0M | -$5.9M | -$2.5M | -$1.5M | -$485.0K |
| Total equity | $38.2M | $13.5M | $19.7M | -$2.7M | $585.6K | -$869.0K | -$1.1M | -$223.0K | $101.1K | -$355.1K |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$18.5M | -$9.5M | -$15.4M | -$6.0M | -$363.0K | -$90.5K | -$424.1K | -$443.3K | -$446.9K | -$211.9K |
| Depreciation and amortisation | $1.1M | $436.0K | $162.6K | $128.9K | — | — | — | — | $789 | — |
| Stock-based compensation | $8.1M | $14.3M | $9.7M | $865.5K | $767.2K | $434.2K | $1.1M | $76.0K | $265.9K | $128.1K |
| Capital expenditure | $3.7M | $661.5K | $453.3K | $220.3K | — | — | — | — | — | — |
| Investing cash flow | -$3.7M | -$661.5K | -$453.3K | $240.8K | $38.1K | -$44.0K | -$50.1K | -$23.6K | -$4.2K | -$43.5K |
| Financing cash flow | $26.2M | $9.4M | $22.8M | $5.9M | $569.9K | $266.8K | $467.0K | $50.0K | $655.4K | $503.6K |
| Buybacks | — | — | — | — | $26.0K | — | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001213900-26-036949.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | — | — | $1.4M | $5.9M | $20.6M | $42.5M |
| Gross profit | — | — | — | — | — | — | $60.6K | $725.5K | $8.5M | $19.5M |
| Net income | -$485.0K | -$1.0M | -$960.3K | -$3.4M | -$1.1M | -$1.5M | -$3.2M | -$20.9M | -$19.2M | -$12.1M |
Recent filings and events
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Officer or director change Item 5.02
- Other event Item 8.01
- Other event Item 8.01
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Regulation FD disclosure Item 7.01
- Other event Item 8.01
- Officer or director change Item 5.02
- Results announced Item 2.02
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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