SS Innovations International, Inc.
- Open
- 3.56
- Day high
- 3.56
- Day low
- 3.31
- Prev close
- 3.62
- Volume
- 0
- Mkt cap
- $706M
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 13.0
- P/S
- 14.6
- Yield
- —
- Per share
- —
SS Innovations International, Inc. (SSII) is a Healthcare company listed on NASDAQ. The stock is down 42% over the past year.
SS Innovations International, Inc. (SSII) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
SSII earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 13, 2026 | — | $-0.02 | — | $11M | — |
| Mar 10, 2026 | — | $-0.01 | — | $15M | — |
| Aug 7, 2025 | — | $-0.00 | — | $10M | — |
| May 14, 2025 | — | $-0.03 | — | $5M | — |
| Mar 27, 2025 | — | $-0.04 | — | $6M | — |
| Nov 15, 2024 | — | $-0.03 | — | $3M | — |
| Sep 6, 2024 | — | $-0.02 | — | $4M | — |
| May 15, 2024 | — | $-0.02 | — | $7M | — |
| Mar 22, 2024 | — | $-0.09 | — | $1M | — |
| Nov 13, 2023 | — | $-0.01 | — | $1M | — |
SSII insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Mar 10, 2026 | Sudhir Srivastavadirector, 10 percent owner, officer: Chairman and CEO | Buy | 498,753 | $4.01 |
| Mar 10, 2026 | Adams Timothy P.director | Buy | 300,000 | $3.99 |
| Mar 10, 2026 | MOLL FREDERIC Hdirector, 10 percent owner: | Buy | 501,253 | $3.99 |
| Jun 30, 2025 | Cohen Barry Fdirector, officer: COO - Americas | Buy | 100 | $8.90 |
| Jun 30, 2025 | Cohen Barry Fdirector, officer: COO - Americas | Buy | 226 | $9.00 |
| Apr 22, 2025 | Cohen Barry Fdirector, officer: COO - Americas | Buy | 100 | $8.90 |
| Apr 22, 2025 | Cohen Barry Fdirector, officer: COO - Americas | Buy | 226 | $9.00 |
| Apr 16, 2025 | Cohen Barry Fdirector, officer: COO - Americas | Buy | 107 | $9.50 |
| Apr 16, 2025 | Cohen Barry Fdirector, officer: COO - Americas | Buy | 103 | $8.93 |
| Apr 10, 2025 | Cohen Barry Fdirector, officer: COO - Americas | Buy | 100 | $7.50 |
| Apr 10, 2025 | Cohen Barry Fdirector, officer: COO - Americas | Buy | 500 | $9.16 |
| Apr 10, 2025 | Cohen Barry Fdirector, officer: COO - Americas | Buy | 200 | $8.93 |
| Apr 2, 2025 | Cohen Barry Fdirector, officer: COO - Americas | Buy | 570 | $9.40 |
| Apr 2, 2025 | Cohen Barry Fdirector, officer: COO - Americas | Buy | 100 | $10.00 |
| Apr 2, 2025 | Cohen Barry Fdirector, officer: COO - Americas | Buy | 1,500 | $9.75 |
Source: SSII SEC Form 4 filings, latest Mar 10, 2026. For informational purposes only — not investment advice.
See the full SSII insider & 13F page →SS Innovations International, Inc. company profile
Overview
SS Innovations International, Inc. (NASDAQ:SSII) is a medical device company founded in India that went public on the NASDAQ in October 2018. The company is headquartered in Fort Lauderdale, Florida, and specializes in developing surgical robotic systems primarily for minimally invasive procedures. SS Innovations represents one of the emerging players in the global surgical robotics market, competing against established giants like Intuitive Surgical's da Vinci system. The company has been working to commercialize its robotic surgical platforms while building manufacturing capabilities and expanding its market presence internationally.
Business
SS Innovations operates in the surgical robotics industry, which represents a rapidly growing segment of the broader medical device market. Surgical robotics involves computer-controlled robotic systems that assist surgeons in performing minimally invasive procedures with enhanced precision, visualization, and control compared to traditional open surgery or basic laparoscopic techniques. The company's core product portfolio consists of several integrated robotic surgical systems. SSI Mantra serves as their flagship surgical robotic system designed for general surgery applications. This system enables surgeons to perform complex procedures through small incisions using robotic arms controlled from a console, reducing patient trauma and recovery time. SSI Mudra represents their range of specialized surgical instruments that work in conjunction with the robotic systems, specifically designed to support procedures including robotic cardiac surgery - a highly specialized and technically demanding field. SSI Maya functions as another robotic surgery platform in their product lineup, expanding their capabilities across different surgical specialties. Additionally, the company has developed OMNI 3D HD, which provides surgeons with live three-dimensional high-definition visualization of the surgical field during robotic procedures. This imaging technology is crucial for robotic surgery as it gives surgeons enhanced depth perception and clarity compared to traditional two-dimensional laparoscopic views, enabling more precise surgical maneuvers in confined spaces within the human body. The surgical robotics industry addresses the growing demand for minimally invasive surgery, which offers patients benefits including smaller incisions, reduced blood loss, shorter hospital stays, and faster recovery times compared to traditional open surgery. These systems are particularly valuable for complex procedures in confined anatomical spaces where human hand dexterity and visualization are limited.
Revenue model
SS Innovations generates revenue primarily through direct sales of their robotic surgical systems and associated instruments to hospitals and surgical centers. The business model resembles that of other medical device companies in the robotics space, where initial capital equipment sales are followed by ongoing revenue from consumable instruments, service contracts, and training programs. The company's paying customers are primarily hospitals, ambulatory surgical centers, and healthcare systems that perform minimally invasive surgical procedures. These institutions make substantial capital investments in robotic systems, typically ranging from hundreds of thousands to millions of dollars per system, based on the complexity and capabilities of the equipment. Several factors influence the company's margins and profitability. Positive margin drivers include the premium pricing that advanced surgical robotics can command due to their clinical benefits and the recurring revenue potential from consumable instruments used in each procedure. As surgical volumes increase and the technology gains broader adoption, economies of scale in manufacturing could improve gross margins. Additionally, the high switching costs once hospitals invest in training staff and integrating systems into their workflows can provide some pricing power. Negative margin pressures come from intense competition with well-established players like Intuitive Surgical, which has significant market share and resources for research and development. The substantial upfront investment required for product development, regulatory approvals, and clinical validation creates ongoing cash burn. Healthcare cost containment pressures and the need to demonstrate clear return on investment to hospital administrators can limit pricing flexibility. Manufacturing costs remain high due to the precision engineering required and relatively low production volumes compared to established competitors. Regulatory compliance costs and the need for extensive clinical support and training programs also pressure margins.
Competitive moat
SS Innovations currently operates with a relatively narrow competitive moat in the surgical robotics industry. The company faces significant challenges in establishing sustainable competitive advantages against well-entrenched competitors, particularly Intuitive Surgical, which dominates the market with its da Vinci system and has built substantial barriers through network effects, regulatory approvals, and installed base advantages. The company's potential moat elements include specialized focus on cardiac surgery applications, where their SSI Mudra instruments target a technically demanding niche that requires specific expertise and regulatory approvals. Their 3D HD visualization technology could provide some differentiation if it offers superior imaging capabilities. Additionally, as an emerging player, they may have opportunities to price more competitively than established systems while still delivering advanced functionality. However, the moat remains weak due to several factors. The surgical robotics industry requires enormous capital investment for research and development, regulatory compliance, and market development - areas where larger competitors have significant resource advantages. Intuitive Surgical's established relationships with hospitals, extensive training programs, and large installed base create substantial switching costs that favor the incumbent. The regulatory pathway for surgical robotics is complex and time-consuming, giving established players with proven track records advantages in gaining approvals and physician adoption. Potential disruption could come from larger medical device companies entering the market with substantial resources, technology giants developing AI-enhanced surgical systems, or breakthrough innovations that fundamentally change surgical approaches. The company's survival and competitive position will largely depend on their ability to establish clinical differentiation, build meaningful market share in specific niches, and achieve financial sustainability before facing intensified competition.
Risks & safety
The margin of safety for SS Innovations appears quite limited based on current financial metrics, presenting significant solvency and valuation concerns. • Cash burn and solvency risk: The company burned $10.2 million in free cash flow during 2024 with only $466,500 in cash and short-term investments at year-end, creating immediate liquidity concerns. Operating cash flow was negative $9.5 million for the year, indicating substantial ongoing cash needs. • Debt and leverage: Debt-to-equity ratio of 1.35 indicates high leverage, while current ratio of 1.29 shows limited ability to meet short-term obligations. The company's total liabilities of $28.9 million against $42.4 million in total assets leaves little cushion. • Valuation metrics: Despite losses, the company trades at a market cap of approximately $1.16 billion against 2024 revenue of $20.6 million, suggesting high valuation multiples for a loss-making company. The negative EBITDA of $17.7 million makes traditional valuation metrics challenging to apply meaningfully. • Other considerations: The company showed revenue growth from $5.9 million in 2023 to $20.6 million in 2024, but this was accompanied by increased losses. The business requires substantial ongoing investment in R&D and market development, making near-term profitability unlikely without significant operational improvements or additional financing.
Recent development
Based on the available financial data, SS Innovations has demonstrated significant revenue growth trajectory over recent years, with 2024 revenue reaching $20.6 million compared to $5.9 million in 2023 and $1.5 million in 2022. This represents substantial year-over-year growth, suggesting increasing market adoption of their surgical robotic systems. However, this revenue growth has been accompanied by escalating losses, with net losses increasing from $5.6 million in 2022 to $20.9 million in 2023 and $19.2 million in 2024. The company appears to be in a critical phase of scaling operations and market penetration while managing cash burn and operational efficiency. The quarterly progression through 2024 shows some volatility, with Q1 generating the highest quarterly revenue at $6.9 million, followed by fluctuations in subsequent quarters. This pattern suggests the company may be experiencing typical challenges of an emerging medical device company, including lumpy sales cycles common in capital equipment purchases by hospitals. The company's asset base has grown substantially, with total assets increasing from $8.7 million in 2022 to $42.4 million in 2024, indicating significant investment in infrastructure, inventory, and development capabilities. However, the deteriorating cash position from $7.0 million at the end of 2023 to $466,500 at the end of 2024 highlights the urgent need for additional financing or dramatic improvement in cash flow generation.
SSII company profile · for informational purposes only — not investment advice.
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