SS Innovations to Uplist to Nasdaq

Rhea-AI Summary

SS Innovations International (SSII) has received approval to uplist from OTC to Nasdaq Capital Market, with trading set to commence on April 25, 2025, under the same ticker 'SSII'. The company, focused on affordable surgical robotic technologies, reported significant achievements with its SSi Mantra surgical robotic system:

Key highlights include:

• Installation of 80 systems across 75 hospitals in India and other countries
• 3,500+ successful surgeries, including 195+ cardiac procedures with zero device-related complications
• First Indian company to receive CDSCO approval for telesurgery
• Completed 16 telesurgeries, including world's first robotic cardiac telesurgeries at distances up to 1,200 miles

The company reported strong financial performance with revenue of $20.6 million for 2024, a 251% increase from 2023's $5.9 million, and improved gross margin from 12.3% to 40.9%. SSII is pursuing EU CE Mark and U.S. FDA approval, expected in late 2025 and early 2026, respectively.

Positive

• Revenue grew 251% to $20.6 million in 2024
• Gross margin improved significantly from 12.3% to 40.9%
• Successfully installed 80 SSi Mantra systems across 75 hospitals
• Completed 3,500+ surgeries with zero device-related complications
• Uplisting to Nasdaq expected to improve trading liquidity

Negative

• None.

FORT LAUDERDALE, Fla., April 24, 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 announced that the Company’s common stock has been approved for listing on The Nasdaq Capital Market® (“Nasdaq”). Trading on Nasdaq is expected to commence on April 25, 2025, and the Company’s shares will continue to be listed under the ticker symbol “SSII”.

Dr. Sudhir Srivastava, Chairman of the Board and Chief Executive Officer of SS Innovations, commented, “Uplisting to Nasdaq marks an exciting milestone for SS Innovations and reflects our team’s achievements in building a world-class robotic surgery technology platform that is designed to offer top-tier quality, safety, efficiency and affordability, enabling cutting-edge robotic surgical procedures for a wider range of patients globally.

“The timing of our uplisting coincides with the beginning of our global expansion beyond India – into Nepal, Ecuador, Guatemala, the Philippines, Indonesia, Sri Lanka and Ukraine – and our planned strategic entry into Europe and the United States. We are pursuing EU CE Mark and U.S. FDA approval for our SSi Mantra surgical robotic system, which we anticipate in late 2025 and early 2026, respectively. We believe that the Nasdaq uplisting will enhance market awareness of our growth story, improve transparency, expand our audience of potential investors, and ultimately increase share liquidity.”

Dr. Srivastava also highlighted the Company’s recent achievements in advancing its clinically validated, patented surgical robotic system, the “SSi Mantra,” including:

• Installing 80 SSi Mantra systems in 75 hospitals across India and other countries;
• 3,500+ surgeries performed using the SSi Mantra, including over 195 robotic cardiac surgeries with zero reported device-related mortality, injuries, or complications;
• Becoming 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, the Company has performed 16 telesurgeries using SSi Mantra, including the world’s first robotic cardiac telesurgeries over distances up to 1,200 miles; and
• Reporting revenue for the year ended December 31, 2024 of $20.6 million, an approximately 251% increase from 2023 revenue of $5.9 million, and gross margin of 40.9%, an increase from 12.3% in 2023.

About SS Innovations
SS Innovations International, Inc. (OTC: SSII) develops innovative surgical robotic technologies with a vision to make the benefits of robotic surgery affordable and accessible to a larger segment of the global population. The Company’s product range includes its proprietary “SSi Mantra” surgical robotic system and its comprehensive suite of “SSi Mudra” surgical instruments, which support a variety of surgical procedures including robotic cardiac surgery. An American company headquartered in India, SS Innovations plans to expand the global presence of its technologically advanced, user-friendly, and cost-effective surgical robotic solutions. Visit the Company’s website at ssinnovations.com or LinkedIn for more information and updates.

About the SSi Mantra
The SSi Mantra Surgical Robotic System is a user-friendly, modular, multi-arm system with many advanced technology features, including: 3 to 5 modular robotic arms, an open-faced ergonomic surgeon command center, a large 3D 4K monitor, a 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. A vision cart provides the table-side team with the same magnified 3D 4K view as the surgeon to provide better safety and efficiency. The SSi Mantra utilizes over 40 different types of robotic endo-surgical instruments to support different specialties, including cardiac surgery. The SSi Mantra has been clinically validated in India in more than 100 different types of surgical procedures.

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.

Investor Contact:
The Equity Group
Kalle Ahl, CFA
T: (303) 953-9878
kahl@equityny.com

Devin Sullivan, Managing Director
T: (212) 836-9608
dsullivan@equityny.com

Media Contact:
press@ssinnovations.org
T: (212) 739-0300

FAQ

When will SS Innovations (SSII) start trading on Nasdaq?

SS Innovations (SSII) will commence trading on Nasdaq Capital Market on April 25, 2025, under the ticker symbol 'SSII'.

What was SS Innovations (SSII) revenue growth in 2024?

SSII reported revenue of $20.6 million in 2024, representing a 251% increase from $5.9 million in 2023.

How many surgeries have been performed using SSi Mantra robotic system?

Over 3,500 surgeries have been performed using SSi Mantra, including 195+ cardiac surgeries, with zero reported device-related complications.

When does SS Innovations expect FDA and CE Mark approval for SSi Mantra?

The company anticipates receiving EU CE Mark approval in late 2025 and U.S. FDA approval in early 2026.

What is SS Innovations' achievement in telesurgery?

SSII is the first Indian company to receive CDSCO approval for telesurgery, completing 16 procedures including the world's first robotic cardiac telesurgeries at distances up to 1,200 miles.