Form 8-K
8-K — SS Innovations International, Inc.
Accession: 0001213900-26-055468
Filed: 2026-05-13
Period: 2026-05-13
CIK: 0001676163
SIC: 3841 (SURGICAL & MEDICAL INSTRUMENTS & APPARATUS)
Item: Results of Operations and Financial Condition
Item: Regulation FD Disclosure
Item: Financial Statements and Exhibits
Documents
8-K — ea0290453-8k_ssinnovations.htm (Primary)
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
Pursuant to Section 13 or 15(d) of The Securities
Exchange Act of 1934
Date of report (Date of earliest event reported):
May 13, 2026
SS INNOVATIONS INTERNATIONAL, INC.
(Exact name of registrant as specified in its charter)
Florida
001-42615
47-3478854
(State or Other Jurisdiction
of Incorporation)
(Commission File Number)
(IRS Employer
Identification No.)
405, 3rd Floor, iLabs Info Technology Centre
Udyog Vihar, Phase III
Gurugram, Haryana India
122016
(Address of Principal Executive Offices)
(Zip Code)
Registrant’s telephone number, including
area code: +91 73375 53469
(Former name or former address, if changed since
last report)
Check the appropriate box below if the Form 8-K
filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General
Instruction A.2. below):
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b)
of the Act:
Title of each Class
Trading Symbol
Name of each exchange on which registered
Common Stock
SSII
The Nasdaq Stock Market LLC
Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the
Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check
mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act. ☐
As used in this Current Report on Form 8-K
(this “Current Report”), the terms “SSi,” “the Company,”
“we,” “us” and “our” refer to SS Innovations International, Inc. and its
subsidiaries.
Item 2.02 Results of Operations and Financial
Condition.
The disclosure set forth in Item 7.01 of
this Current Report is incorporated herein by reference.
Item 7.01 Regulation FD Disclosure.
On May 13, 2026, the Company issued a press release
announcing financial results for the first quarter ended March 31, 2026, and the filing with the Securities and Exchange Commission of
its Quarterly Report on Form 10-Q for the quarter ended March 31, 2026.
A copy of the press release is included with this
Current Report as Exhibit 99.1.
The information set forth in Items 2.02 and
7.01 of this Current Report and in the press release included as Exhibit 99.1 to this Current Report, are deemed to be “furnished”
and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange
Act”), or otherwise subject to the liabilities of that Section. The information set forth in Items 2.02 and 7.01
of this Current Report and in the press release included as Exhibit 99.1 to this Current Report, shall not be deemed incorporated
by reference into any filing under the Exchange Act or the Securities Act of 1933, as amended, regardless of any general incorporation
language in such filing.
Forward-Looking Statements
This Current Report and the press release included
as Exhibit 99.1 to this Current Report, includes statements that are not historical facts and are considered forward-looking within
the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical
statements of fact and statements regarding the Company’s intent, belief or expectations, including, but not limited to, statements
regarding the Company’s fourth quarter 2025 and full year 2025 preliminary results, product development, clinical and regulatory
timelines, market opportunity, competitive position, possible or assumed future results of operations and other statement that are predictive
in nature. 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 SSi’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. You should not place undue reliance
on forward-looking statements.
1
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No.
Description
99.1*
Press Release, dated May 13, 2026
104
Cover Page Interactive Data File (embedded within the Inline XBRL document)
*
Furnished not filed
2
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: May 13, 2026
SS INNOVATIONS INTERNATIONAL, INC.
By:
/s/ Sudhir Srivastava
Sudhir Srivastava, M.D.
Chairman and Chief Executive Officer
3
EX-99.1 — PRESS RELEASE, DATED MAY 13, 2026
EX-99.1
Filename: ea029045301ex99-1.htm · Sequence: 2
Exhibit 99.1
SS Innovations Reports First Quarter 2026 Financial
Results
Record quarterly revenue driven by strong growth
in SSi Mantra installations and procedures
Fort Lauderdale, FL – May 13, 2026 –
SS Innovations International, Inc. (the “Company” or “SS Innovations”)
(Nasdaq: SSII), a developer of innovative surgical robotic technologies dedicated to making robotic surgery affordable and accessible
to a global population, today announced unaudited financial results for the three months ended March 31, 2026. The Company also filed
its Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, with the Securities and Exchange Commission on May 13, 2026.
First Quarter 2026 Overview
● Revenue
increased 116.8% to $11.1 million from $5.1 million in the first quarter of 2025.
● Gross
margin expanded to 48.0% from 21.2% in the first quarter of 2025.
● Gross
profit rose 390.0% to $5.3 million from $1.1 million in the first quarter of 2025.
● Net
loss of $3.6 million, or $(0.02) per diluted share, compared to a net loss of $5.7 million, or $(0.03) per diluted share, in the first
quarter of 2025.
● SSi
Mantra surgical robotic system installations totaled 26, up 73.3% from 15 installations in the first quarter of 2025.
As of March 31, 2026
● Long-term
debt of $0.
● Cash
and cash equivalents totaled $16.0 million, excluding restricted cash.
● SSi
Mantra cumulative installed base totaled 194 across eleven countries and cumulative surgeries reached 9,744, including 157 telesurgeries,
482 cardiac procedures and 161 pediatric surgeries.
CEO Commentary
Dr. Sudhir Srivastava, Chairman of the Board and
Chief Executive Officer of SS Innovations, commented, “In the first quarter of 2026 we reported record quarterly revenue of $11.1
million, up 117% year over year, driven by robust growth in SSi Mantra installations and procedures. Strong adoption by hospitals and
physicians reflects the SSi Mantra’s cutting-edge surgical robotic technology, differentiated features, user friendliness, training
capabilities, and cost efficiency. Among other developments in the quarter, we received regulatory approval for the SSi Mantra for multiple
indications in Sri Lanka and Kenya and for telesurgery in Indonesia and the Philippines. We also successfully completed a private placement
in March 2026 that provided SS Innovations with approximately $18.6 million in gross proceeds to fuel growth initiatives.”
Dr. Srivastava continued, “Looking ahead,
we aim to fortify our position as a leader in the substantial Indian market, expand our global footprint in underserved countries, and
secure entry into the United States and European Union markets. We expect the U.S. Food and Drug Administration to complete its review
of our 510(k) premarket notification for the SSi Mantra this year. Separately, we continue along the pathway towards a European Union
CE marking certification for the SSi Mantra, which we believe we can also obtain in 2026. We are very excited about the growth runway
ahead and remain steadfast in our commitment to democratizing access to advanced surgical robotic care.”
Select Business Highlights in First Quarter
2025
● In
January 2026, the Company received regulatory approval for the SSi Mantra from the National Medicines Regulatory Authority (“NMRA”)
in Sri Lanka and from the Pharmacy and Poisons Board (“PPB”) in Kenya.
● On March 9, 2026, the Company announced the completion
of a private placement of its common stock, generating approximately $18.6 million in gross proceeds before deducting offering expenses,
to support growth initiatives. In the offering, the Company offered and sold a total of 5,774,839 shares of common stock consisting of:
an aggregate of 1,300,006 shares of common stock at an average price of $4.00 per share to certain of the Company’s directors and
executive officers, or a total of approximately $5.2 million; and an aggregate of 4,474,833 shares of common stock at $3.00 per share,
or approximately $13.4 million cumulatively, to non-affiliate investors.
● On March 18, 2026, the Company announced that
the SSi Mantra surgical robotic system received approval for telesurgeries in Indonesia and the Philippines.
Revenue Breakdown and Summary of Installations
/ Surgeries
Category
Q1 2025
Q1 2026
Variance
Percentage
System sales
$ 4,502,482
$ 9,575,370
$ 5,072,888
112.7 %
Instrument sales
477,208
1,151,228
674,020
141.2 %
Warranty sales
122,504
357,686
235,182
192.0 %
Lease income
18,416
17,082
(1,334 )
(7.2 )%
Total revenue
$ 5,120,610
$ 11,101,366
$ 5,980,756
116.8 %
SSi Mantra installations
15
26
11
73.3 %
Cumulative installed base1
78
194
116
148.7 %
SSi Mantra surgeries
787
1,859
1,072
136.2 %
Cumulative surgeries1
3,568
9,744
6,176
173.1 %
1 at period end
2
About SS Innovations
SS Innovations International, Inc. (Nasdaq: 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 robotic surgical
procedures including 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 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. The optional SSi MantrAsana Tele Surgeon
Console is a portable, compact alternative to the SSi Mantra’s standard surgeon command center that provides equivalent control
functionality while enabling enhanced portability, ergonomic flexibility, and telesurgery capability. The SSi Mantra utilizes over 40
different types of robotic endo-surgical instruments to support different specialties, including cardiac surgery, and 5mm instruments
for the pediatric population and ENT surgeries. 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 has been clinically validated in India in more than 170 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’ 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@theequitygroup.com
Devin Sullivan, Managing Director
T: (212) 836-9608
dsullivan@theequitygroup.com
Media Contact:
RooneyPartners LLC
Kate Barrette
T: (212) 223-0561
kbarrette@rooneypartners.com
3
SS INNOVATIONS INTERNATIONAL, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
As of
March 31,
2026
December 31,
2025
ASSETS
Current Assets:
Cash and cash equivalents
$ 15,979,714
$ 3,206,406
Restricted cash
7,631,336
5,937,650
Accounts receivable, net
14,054,376
12,398,542
Inventory
17,066,091
17,064,002
Prepaids and other current assets
11,530,000
10,166,823
Total Current Assets
66,261,517
48,773,423
Property, plant, and equipment, net
8,831,423
9,100,546
Right of use asset, net
2,499,490
2,754,020
Deferred tax assets, net
805,750
533,727
Accounts receivable, net-non current
7,265,911
8,566,654
Restricted cash- non current
394,630
458,964
Prepaids and other non current assets
4,488,168
4,038,883
Total Assets
$ 90,546,889
$ 74,226,217
LIABILITIES AND STOCKHOLDERS’ (DEFICIT) EQUITY
Current Liabilities
Bank overdraft facility
$ 11,156,147
$ 11,442,948
Current portion of operating lease liabilities
576,237
579,169
Accounts payable
4,403,170
5,127,193
Deferred revenue
3,582,631
3,266,686
Accrued expenses & other current liabilities
6,326,818
5,825,702
Total Current Liabilities
26,045,003
26,241,698
Operating lease liabilities, less current portion
2,086,534
2,337,697
Deferred Revenue- non current
7,501,283
7,139,807
Other non current liabilities
390,656
288,764
Total Liabilities
$ 36,023,476
$ 36,007,966
Commitments and contingencies
Stockholders’ equity:
Preferred stock, authorized 5,000,000 shares of Series A, Non-Convertible Preferred Stock, $0.0001 par value per share; 1,000 shares issued and outstanding as of March 31, 2026, and December 31, 2025
1
1
Common stock, 250,000,000 shares authorized, $0.0001 par value, 200,131,535 shares and 194,165,141 shares issued and outstanding as of March 31, 2026 and December 31, 2025 respectively
20,013
19,416
Accumulated other comprehensive income (loss)
(3,573,137 )
(2,022,660 )
Additional paid in capital
116,549,124
95,111,511
Capital reserve
899,917
899,917
Accumulated deficit
(59,372,505 )
(55,789,934 )
Total stockholders’ equity
54,523,413
38,218,251
Total liabilities and stockholders’ equity
$ 90,546,889
$ 74,226,217
4
SS INNOVATIONS INTERNATIONAL, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
AND COMPREHENSIVE LOSS
(Unaudited)
For The Three months ended
March 31,
2026
March 31,
2025
REVENUES
System sales
9,575,370
4,502,482
Instruments sale
1,151,228
477,208
Warranty sale
357,686
122,504
Lease income
17,082
18,416
Total revenue
$ 11,101,366
$ 5,120,610
Cost of revenue
(5,774,145 )
(4,033,402 )
GROSS PROFIT
5,327,221
1,087,208
OPERATING EXPENSES:
Research & development expense
995,440
1,010,095
Stock compensation expense
3,144,315
2,379,212
Depreciation and amortization expense
323,747
208,882
Selling, general and administrative expense
4,502,476
3,410,872
TOTAL OPERATING EXPENSES
8,965,978
7,009,061
Loss from operations
(3,638,757 )
(5,921,853 )
OTHER INCOME (EXPENSE):
Interest Expense
(284,051 )
(379,905 )
Interest and other income, net
491,589
620,405
TOTAL INCOME, NET
207,538
240,500
LOSS BEFORE INCOME TAXES
(3,431,219 )
(5,681,353 )
Income tax expense
151,352
-
NET LOSS
$ (3,582,571 )
$ (5,681,353 )
CONSOLIDATED STATEMENTS OF OTHER COMPREHENSIVE LOSS
NET LOSS
$ (3,582,571 )
$ (5,681,353 )
OTHER COMPREHENSIVE INCOME (LOSS):
Foreign currency translation loss
(1,557,111 )
6,876
Retirement Benefit
4,781
15,838
RECLASSIFICATION ADJUSTMENTS:
Retirement Benefit (1)
3,056
-
Income tax effects relating to retirement benefit
(1,203 )
-
TOTAL OTHER COMPREHENSIVE LOSS
(1,550,477 )
22,714
TOTAL COMPREHENSIVE LOSS
$ (5,133,048 )
$ (5,658,639 )
(1)
These are reclassified to net loss and are included in other expense in the condensed consolidated statements of operations.
5
SS INNOVATIONS INTERNATIONAL, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
For The Three months ended
March 31,
2026
March 31,
2025
Cash flows from operating activities:
Net loss
$ (3,582,571 )
$ (5,681,353 )
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization
323,747
208,882
Operating lease expense
220,493
205,275
Interest Expense
43,555
155,015
Interest and other income, net
(415,465 )
(140,928 )
Deferred income tax benefit
(301,036 )
-
Stock compensation expense
3,144,315
2,379,212
Provision for / (Reversal of) credit loss reserve, net
230,616
(422,711 )
Provision for slow moving inventory
(6,248 )
-
Changes in operating assets and liabilities:
Accounts receivable, net
(245,111 )
1,275,750
Inventory, net
4,159
(5,082,673 )
Deferred revenue
677,421
823,947
Prepaids and other assets
(2,066,322 )
(1,003,604 )
Accounts payable
(704,764 )
1,329,028
Income taxes payable, net
323,014
-
Accrued expenses & other liabilities
256,441
48,331
Operating lease payment
(214,180 )
(197,545 )
Net cash used in operating activities
(2,311,936 )
(6,103,374 )
Cash flows from investing activities:
Purchase of property, plant and equipment
(54,189 )
(872,804 )
Net cash used in investing activities
(54,189 )
(872,804 )
Cash flows from financing activities:
Proceeds from bank overdraft facility (net)
(286,801 )
(312,495 )
Proceeds from Private Investment in Public Equity, net of transaction costs
18,446,498
-
Proceeds from issuance of convertible notes to principal shareholder
-
28,000,000
Repayment of convertible notes to principal shareholder, including interest
-
(4,212,637 )
Repayment of convertible notes to other investors, including interest
-
(1,068,849 )
Net cash provided by financing activities
18,159,697
22,406,019
Net change in cash
15,793,572
15,429,841
Effect of exchange rate on cash
(1,390,012 )
25,412
Cash and cash equivalents at the beginning of the year
9,603,020
6,623,535
Cash and cash equivalents at end of the year
$ 24,005,680
$ 22,078,788
6
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Two-character EDGAR code representing the state or country of incorporation.
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- Definition
The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-Name Exchange Act
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The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.
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Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
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Local phone number for entity.
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- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-Name Exchange Act
-Number 240
-Section 13e
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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Title of a 12(b) registered security.
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-Name Exchange Act
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Name of the Exchange on which a security is registered.
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Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
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- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.
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-Publisher SEC
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Trading symbol of an instrument as listed on an exchange.
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- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.
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-Name Securities Act
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