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SS Innovations International (SSII) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 13, 2026 · SS Innovations International (SSII) Q2 2026 earnings results →
Q2 2026 Revenue up 39% year over year to $13.9M · 19¢ of every $1 of revenue lost · operating margin -16.3%
SS Innovations International made $13.9M in Q2 2026 (+39% Y/Y): System sales $12.4M, Instrument sales $1.1M, Warranty sales $419K. Operating margin -16.3%, net loss $2.7M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 13, 2026.
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What changed this quarter
Revenue was $13.9M in Q2 2026, up 39% year over year and up 26% from the previous quarter. System sales was the largest line at 89% of revenue. System sales added $3.6M year over year (up 41%), 91% of the total change. Lease income declined 10%.
Gross margin was 50.9%, down 8.2 points from Q2 2025. Operating costs exceeded revenue by $2.3M, an operating margin of -16.3%. Operating expenses grew 61% against revenue growth of 39%. The fastest-growing cost line was Research & development (+380%). The quarter ended with a net loss of $2.7M, narrower than the previous quarter's $3.6M loss.
Operating cash flow was −$4.2M. Non-cash charges added back $346K of depreciation and $2.2M of share-based compensation. Working capital and other items used $4.1M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 13, 2026 | $13.9M | +39% | -16.3% | −$2.7M | −$4.2M |
| Q1 2026 | 10-Q | May 13, 2026 | $11.1M | +117% | -32.8% | −$3.6M | −$2.3M |
| Q4 2025 | 10-K | Mar 10, 2026 | $14.5M | +79% | -5.1% | −$2.5M | −$1.5M |
| Q3 2025 | 10-Q | Oct 28, 2025 | $12.8M | +192% | -14.3% | −$3.7M | −$7.5M |
| Q2 2025 | 10-Q | Aug 6, 2025 | $10.0M | +122% | 1.0% | −$257K | −$3.5M |
| Q1 2025 | 10-Q | May 14, 2025 | $5.1M | +41% | -115.6% | −$5.7M | −$6.1M |
| Q4 2024 | 10-K | Apr 15, 2025 | $8.1M | +469% | -22.7% | −$1.9M | −$3.3M |
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📈Investments: gains and what it boughtinteractive
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About SS Innovations International
We are a commercial-stage surgical robotics company 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 clinical outcomes and reducing healthcare costs, access to such systems remains largely limited to developed countries such as the United States (the “ U.S. ”), the European Union (the “ EU ”) and Japan.
In its own words, from its 10-K, filed Mar 10, 2026.
SS Innovations International against its Surgical & Medical Instruments & Apparatus peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +39% against the peers' median +5%. Operating margin: -16.3% against the peers' median 13.3%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| SSII SS Innovations International | Q2 2026 | $13.9M | +39% | -16.3% |
| MDLN Medline | Q3 2026 | $7.9B | +10% | 6.4% |
| MMM 3M | Q3 2026 | $6.6B | +1% | 23.7% |
| SYK Stryker | Q3 2026 | $6.5B | +8% | 15.9% |
| BSX Boston Scientific | Q3 2026 | $5.1B | +1% | 16.1% |
| BDX Becton Dickinson | Q3 FY26 | $5.0B | +5% | 13.3% |
| BAX Baxter International | Q3 2026 | $3.0B | +5% | 7.6% |
| SOLV Solventum | Q3 2026 | $1.9B | -7% | 3.5% |
| RMD ResMed | Q1 FY27 | $1.4B | +6% | 32.0% |
Source: SS Innovations International 10-Q on SEC EDGAR · CIK 1676163 · Surgical & Medical Instruments & Apparatus
13F: who owns SSII and who is buying
More on SSII
History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results