SS Innovations Achieves Significant Milestones in 2024
SS Innovations International (SSII) has reported significant achievements in 2024, with its SSi Mantra surgical robotic system completing over 3,500 surgeries across 80 installations in 75 hospitals. The company sold 37 systems and installed 8 more on a Pay-Per-Use Lease model in 2024.
Preliminary unaudited results show expected 2024 revenues of over US$22 million, representing a nearly four-fold increase from 2023. Gross margins improved from 12.30% to 36.90%. For Q1 2025, SSII anticipates reaching 78 installations with estimated revenues of US$6.4 million and 45% gross margin.
Key achievements include: zero device-related complications across all procedures, successful telesurgery implementation with 16 procedures completed, expansion of manufacturing capacity to 20 units monthly, training of over 750 surgeons, and regulatory approvals in multiple countries. The company expects FDA and CE approvals by late 2025 or early 2026.
SS Innovations International (SSII) ha riportato risultati significativi nel 2024, con il suo sistema robotico chirurgico SSi Mantra che ha completato oltre 3.500 interventi in 80 installazioni presso 75 ospedali. L'azienda ha venduto 37 sistemi e ne ha installati 8 in più con un modello di leasing Pay-Per-Use nel 2024.
I risultati preliminari non verificati mostrano ricavi previsti per il 2024 di oltre 22 milioni di dollari USA, rappresentando un aumento quasi quadruplo rispetto al 2023. I margini lordi sono migliorati dal 12,30% al 36,90%. Per il primo trimestre del 2025, SSII prevede di raggiungere 78 installazioni con ricavi stimati di 6,4 milioni di dollari USA e un margine lordo del 45%.
I risultati chiave includono: zero complicazioni legate ai dispositivi in tutte le procedure, implementazione riuscita della telesurgery con 16 procedure completate, espansione della capacità produttiva a 20 unità mensili, formazione di oltre 750 chirurghi e approvazioni normative in più paesi. L'azienda si aspetta approvazioni FDA e CE entro la fine del 2025 o all'inizio del 2026.
SS Innovations International (SSII) ha reportado logros significativos en 2024, con su sistema robótico quirúrgico SSi Mantra completando más de 3,500 cirugías en 80 instalaciones en 75 hospitales. La compañía vendió 37 sistemas e instaló 8 más bajo un modelo de arrendamiento Pay-Per-Use en 2024.
Los resultados preliminares no auditados muestran ingresos esperados para 2024 de más de 22 millones de dólares estadounidenses, lo que representa un aumento casi cuádruple respecto a 2023. Los márgenes brutos mejoraron del 12.30% al 36.90%. Para el primer trimestre de 2025, SSII anticipa alcanzar 78 instalaciones con ingresos estimados de 6.4 millones de dólares estadounidenses y un margen bruto del 45%.
Los logros clave incluyen: cero complicaciones relacionadas con dispositivos en todos los procedimientos, implementación exitosa de telesurgery con 16 procedimientos completados, expansión de la capacidad de fabricación a 20 unidades mensuales, formación de más de 750 cirujanos y aprobaciones regulatorias en múltiples países. La empresa espera obtener las aprobaciones de la FDA y CE para finales de 2025 o principios de 2026.
SS Innovations International (SSII)는 2024년에 중요한 성과를 보고했으며, SSi Mantra 외과 로봇 시스템이 75개 병원에서 80개의 설치를 통해 3,500건 이상의 수술을 완료했습니다. 회사는 2024년에 37개의 시스템을 판매하고 8개를 Pay-Per-Use 임대 모델로 설치했습니다.
예비 감사 결과에 따르면 2024년 예상 수익은 2200만 달러 이상으로, 2023년 대비 거의 4배 증가한 수치입니다. 총 마진은 12.30%에서 36.90%로 개선되었습니다. 2025년 1분기에는 SSII가 78개의 설치를 달성하고, 640만 달러의 수익과 45%의 총 마진을 예상하고 있습니다.
주요 성과로는 모든 절차에서 장치 관련 합병증이 제로인 것, 16건의 절차를 완료한 성공적인 원격 수술 구현, 월 20대 생산 능력으로의 확장, 750명 이상의 외과의사 교육, 여러 국가에서의 규제 승인 등이 있습니다. 회사는 2025년 말 또는 2026년 초에 FDA 및 CE 승인을 받을 것으로 예상하고 있습니다.
SS Innovations International (SSII) a rapporté des réalisations significatives en 2024, avec son système robotique chirurgical SSi Mantra ayant complété plus de 3 500 interventions dans 80 installations dans 75 hôpitaux. L'entreprise a vendu 37 systèmes et en a installé 8 de plus selon un modèle de location à l'usage en 2024.
Les résultats préliminaires non audités montrent des revenus prévus pour 2024 de plus de 22 millions de dollars américains, représentant une augmentation presque quadruple par rapport à 2023. Les marges brutes ont augmenté de 12,30 % à 36,90 %. Pour le premier trimestre 2025, SSII prévoit d'atteindre 78 installations avec des revenus estimés à 6,4 millions de dollars et une marge brute de 45 %.
Les réalisations clés incluent : zéro complication liée aux dispositifs dans toutes les procédures, mise en œuvre réussie de la télésurveillance avec 16 procédures complétées, expansion de la capacité de production à 20 unités par mois, formation de plus de 750 chirurgiens et approbations réglementaires dans plusieurs pays. L'entreprise s'attend à obtenir les approbations de la FDA et du CE d'ici fin 2025 ou début 2026.
SS Innovations International (SSII) hat im Jahr 2024 bedeutende Erfolge gemeldet, wobei das SSi Mantra chirurgische Robotersystem über 3.500 Operationen in 80 Installationen in 75 Krankenhäusern abgeschlossen hat. Das Unternehmen verkaufte 37 Systeme und installierte 8 weitere im Jahr 2024 nach einem Pay-Per-Use-Leasing-Modell.
Die vorläufigen, nicht geprüften Ergebnisse zeigen, dass die erwarteten Einnahmen für 2024 über 22 Millionen US-Dollar liegen, was einem fast vierfachen Anstieg im Vergleich zu 2023 entspricht. Die Bruttomargen verbesserten sich von 12,30 % auf 36,90 %. Für das erste Quartal 2025 erwartet SSII 78 Installationen mit geschätzten Einnahmen von 6,4 Millionen US-Dollar und einer Bruttomarge von 45 %.
Zu den wichtigsten Erfolgen gehören: null gerätebezogene Komplikationen bei allen Verfahren, erfolgreiche Implementierung der Telesurgery mit 16 abgeschlossenen Verfahren, Erweiterung der Produktionskapazität auf 20 Einheiten pro Monat, Schulung von über 750 Chirurgen und regulatorische Genehmigungen in mehreren Ländern. Das Unternehmen erwartet, bis Ende 2025 oder Anfang 2026 FDA- und CE-Zulassungen zu erhalten.
- Revenue growth of nearly 400% year-over-year to US$22 million in 2024
- Gross margin improvement from 12.30% to 36.90% in 2024
- Successful installation of 80 surgical systems across 75 hospitals
- Zero device-related mortality or complications in over 3,500 surgeries
- Manufacturing capacity expansion to 20 units monthly
- Regulatory approvals obtained in 8 countries
- FDA and CE approvals still pending, limiting market access in major markets
- Current gross margins still below industry standards despite improvement
The Company’s award winning SSi Mantra surgical robotic system has completed over 3,500 surgeries and is clinically validated to perform more than 100 different types of surgical procedures
The Company Continues to Build a Strong Foundation for Future Growth
FORT LAUDERDALE, Fla., March 31, 2025 (GLOBE NEWSWIRE) -- SS Innovations International, Inc. (the “Company” or “SS Innovations”) (OTC: SSII), a developer of innovative surgical robotic technologies dedicated to making robotic surgery affordable and accessible to a global population, today provided shareholders and the investment community with a review of the significant milestones the Company achieved in 2024.
Dr. Sudhir Srivastava, Chairman of the Board and Chief Executive Officer of SS Innovations, and a pioneer in robotic cardiothoracic surgery, stated, “SS Innovations has built a strong foundation in 2024, laying the groundwork to achieve significant milestones in the years ahead.
“Looking ahead, we’re diligently working to secure regulatory approvals in the United States and Europe, which we expect to receive by the end of 2025 or early 2026. All of these initiatives have strengthened our foundation for future growth and our momentum is clearly building. We are excited to be progressing forward in fulfilling our mission to make robotic surgery accessible to the large global population in need of safe and affordable surgical services,” concluded Dr. Srivastava.
Operational Highlights
- We have now reached significant milestones of having 80 of our SSi Mantra Robotic Surgical Systems installed in 75 hospitals, performed over 3,500 surgeries using the SSi Mantra, including over 195 robotic cardiac surgeries, and the SSi Mantra has been validated in over 100 different surgical procedures.
- We are proud to report that in all our surgical robotic procedures we have reported zero device-related mortality, injuries, or complications.
- During the year ended December 31, 2024, we sold 37 of our SSi Mantra Surgical Robotic Systems and installed another 8 systems on a Pay-Per-Use Lease model. At the end of December 2024, we had 64 installations. We expect to report revenues of just over US
$22 million for 2024 (based on preliminary unaudited results which are subject to change), an almost four-fold increase over our 2023 revenues. Our gross margins also continue to improve, from12.30% in 2023 to an estimated36.90% in 2024. We expect these margins to continue to increase as we achieve economies of scale, among other efficiencies. - For the quarter ended March 31, 2025, we anticipate increasing the number of installations of our SSi Mantra Surgical Robotic Systems from 64 to 78 and estimate revenues for the quarter of approximately US
$6.4 million (based on preliminary unaudited results which are subject to change), with a gross margin of approximately45% . - During 2024, we continued to grow and solidify our worldwide intellectual property portfolio, with 69 patent applications filed, 5 utility patents granted, and 30 design patents granted. We also have 53 registered trademarks.
- We also continue to expand our Board of Directors with the additions of independent Directors Tim Adams, Regional Operating Officer of Ascension and formerly regional CEO of Tenet Healthcare, and Dr. Frederic Moll, founder of Intuitive Surgical, joining as Vice Chairman.
- We have continued to increase our manufacturing and Research & Development capabilities, with a current capacity of producing 20 units per month, expandable to 35.
- We have now trained over 750 surgeons and over 1,000 surgical staff to use our SSi Mantra Surgical Robotic System.
- We have received Quality and Regulatory approvals in India, Nepal, Ecuador, Guatemala, Philippines, Indonesia, Ukraine and expect to quickly add more countries to this list.
- We have continued with our FDA and CE approvals and will provide periodic updates as the regulatory process proceeds. We expect to receive approvals for multiple indications by the end of 2025 or early 2026.
- In April 2024, we announced our first successful tele-surgery trials. Since then, we became the first and only company in India to receive Central Drugs Standard Control Organization (CDSCO, India’s equivalent of the U.S. FDA) regulatory approval for use of a robotic surgical system in the performance of Telesurgery and Tele-proctoring procedures. Since receiving such approvals, we have performed 16 telesurgeries using our SSi Mantra as of the date of this release, including a robotic cardiac surgery over a distance of 2,000km.
- In April 2024 we also announced the successful performance of the first pyeloplasty procedure performed on an infant utilizing our SSi Mantra Surgical Robotic System. The procedure was successfully completed on a 12-month-old baby weighing 8.5 kilograms (approximately 17.6 pounds). We have since used our SSi Mantra-3 Surgical Robotic System on children as young as 4 months.
- In July 2024, the Company opened an office in the financial district of Manhattan, New York where it unveiled its SSi Mantra-3 Surgical Robotic System in an exclusive demonstration for media, analysts and the investment community.
- In January 2025, the Company made history by successfully performing two world-first robotic cardiac telesurgeries in a span of just two days.
- In March 2025. the Company launched its 2nd Global Multi-Specialty Robotic Surgery Conference (SMRSC 2025), held in Gurugram, India from March 7-9, organized in collaboration with leading medical societies from both national and international platforms. Over 1,400 attended, representing 17 nations, and along with over 600 virtual attendees witnessed 15 live surgeries and 5 telesurgeries using the Company’s SSi Mantra-3 Surgical Robotic System.
- At its SMRSC 2025 event, the Company unveiled its Mobile Tele-Surgical Unit, a bus housing the SSi Mantra-3 Surgical Robotic System, aimed at improving remote surgical access and healthcare delivery.
About SS Innovations:
SS Innovations International, Inc. (OTC: SSII) is a developer of innovative surgical robotic technologies with a vision to make the benefits of robotic surgery affordable and accessible to a larger part of the global population. The Company’s product range includes its proprietary “SSi Mantra” surgical robotic system, and “SSi Mudra” its wide range of surgical instruments capable of supporting a variety of surgical procedures including robotic cardiac surgery. SS Innovations’ business operations are headquartered in India and the Company plans to expand the presence of its technologically advanced, user-friendly, and cost-effective surgical robotic solutions, globally. For more information, visit our website at ssinnovations.com or LinkedIn for updates.
About the SSi Mantra:
The SSi Mantra Surgical Robotic System, by SS Innovations, is a modular multi-arm system with many advanced technology features. It allows for the use of 3-5 robotic arms, has an open-faced ergonomic Surgeon Command Centre, 32-inch large 3D 4K monitor, a 23-inch 2D 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 Vision Cart gives the table-side team the same magnified 3D 4K view as the surgeon to provide better safety and efficiency. The modular robotic arms give flexibility in positioning and the number of arms to be used. This allows for collision-free conduct of surgical operations. There are over 40 different types of robotic endo-surgical instruments that can be used for different specialties including cardiac surgery. The learning curve for surgeons is shorter due to the SSi Mantra’s ergonomic design and user-friendly features.
The SSi Mantra has been clinically validated in India in more than 90 different types of surgical procedures. SS Innovations has commenced the regulatory approval process in the United States and the European Union and anticipates receiving FDA approval to market and CE Mark approval in late 2025 or early 2026.
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 International’s 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.
Follow us on:
LinkedIn: https://www.linkedin.com/company/ssinnovationsgroup/
YouTube: https://www.youtube.com/@ssinnovations
For media inquiries, please contact:
+1-212-739-0300
FAQ
What were SS Innovations (SSII) revenue figures for 2024?
How many SSi Mantra surgical systems were installed by SSII in 2024?
What is the current gross margin for SSII's surgical robot sales?
When does SSII expect to receive FDA and CE approval for its surgical robot?
How many surgeries have been performed using SSII's robotic system?
