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SS Innovations International
(NASDAQ:SSII)
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Rating:50Neutral
Price Target:
$4.00
▲(4.44% Upside)
Action:Reiterated
Date:07/28/26
The score is held back primarily by ongoing losses and significant cash burn despite improving margins and revenue growth. Technicals are mixed with short-term strength but longer-term weakness, while valuation is constrained by a negative P/E and no dividend. Corporate updates are largely positive for adoption and visibility, tempered by potential dilution from the ATM program and executive turnover.
Positive Factors
Revenue Growth & Margin Expansion
Consistent top-line growth and a material gross margin improvement to ~48% indicate improving unit economics and scalable cost structure. Over months this supports a pathway to sustainable profitability as installed volumes rise and fixed costs are leveraged across more system sales and consumables.
Negative Factors
Negative Cash Flow
Sustained negative operating and free cash flow signals structural cash consumption to fund growth and operations. This heightens reliance on external financing, constrains reinvestment capacity, and raises execution risk until the business achieves consistent positive cash generation from system placements and recurring revenues.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth & Margin Expansion
Consistent top-line growth and a material gross margin improvement to ~48% indicate improving unit economics and scalable cost structure. Over months this supports a pathway to sustainable profitability as installed volumes rise and fixed costs are leveraged across more system sales and consumables.
Read all positive factors
SS Innovations International (SSII) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$779.50M
Dividend YieldN/A
Average Volume (3M)65.98K
Price to Earnings (P/E)―
Beta (1Y)9.04
Revenue Growth89.98%
EPS Growth-0.32%
CountryUS
Employees483
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)-0.07
Shares Outstanding200,385,440
10 Day Avg. Volume79,777
30 Day Avg. Volume65,982
Financial Highlights & Ratios
PEG Ratio2.12
Price to Book (P/B)28.24
Price to Sales (P/S)25.40
P/FCF Ratio-48.61
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$7.00Price Target Upside82.77% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)N/A
Revenue Forecast (FY)$59.00M
SS Innovations International Business Overview & Revenue Model
Company Description
SS Innovations International, Inc., situated in Fort Lauderdale, Florida, focuses on the development of sophisticated robotic systems for surgical use. Their offerings encompass the SSI Mantra, a specialized surgical robot, and SSI Mudra, a suite ...
How the Company Makes Money
Revenue is primarily generated through the sale and/or placement of robotic surgical systems to hospitals and surgical centers, and from recurring procedure-driven demand for consumables and accessories used with those systems (e.g., single-use or...
SS Innovations International Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
67
Positive
Cash Flow
32
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 52.39M | 42.48M | 20.65M | 5.88M | 1.46M | 0.00 |
| Gross Profit | 24.63M | 19.54M | 8.45M | 713.45K | 489.59K | -18.79K |
| EBITDA | -6.21M | -5.98M | -17.74M | -20.26M | -5.31M | -1.47M |
| Net Income | -12.43M | -12.13M | -19.15M | -20.94M | -5.60M | -1.48M |
Balance Sheet | ||||||
| Total Assets | 96.98M | 74.23M | 42.39M | 25.48M | 6.98M | 428.61K |
| Cash, Cash Equivalents and Short-Term Investments | 13.65M | 3.21M | 466.50K | 7.03M | 217.18K | 405.77K |
| Total Debt | 3.24M | 14.36M | 18.20M | 8.22M | 8.27M | 145.00K |
| Total Liabilities | 43.58M | 36.01M | 28.93M | 11.18M | 9.66M | 287.28K |
| Stockholders Equity | 53.40M | 38.22M | 13.46M | 14.30M | -2.68M | 141.33K |
Cash Flow | ||||||
| Free Cash Flow | -18.22M | -22.20M | -10.16M | -15.81M | -1.44M | -363.03K |
| Operating Cash Flow | -15.53M | -18.54M | -9.50M | -15.36M | -5.99M | -363.03K |
| Investing Cash Flow | -2.68M | -3.66M | -661.48K | -453.33K | 240.82K | 38.15K |
| Financing Cash Flow | 26.10M | 26.17M | 9.43M | 22.80M | 5.90M | 569.95K |
SS Innovations International Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | $1.20B | 17.75 | 28.39% | ― | 3.14% | ― | |
65 Neutral | $647.52M | -14.76 | -11.53% | ― | 14.49% | 6.68% | |
63 Neutral | $848.42M | -55.71 | -8.23% | ― | 15.30% | 40.66% | |
55 Neutral | $421.18M | -6.73 | -14.05% | ― | 2.99% | 51.77% | |
52 Neutral | $311.52M | -5.15 | -74.06% | ― | -3.95% | -17.90% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | $779.50M | -62.84 | -23.00% | ― | 89.98% | -0.32% |
* Healthcare Sector Average
SSII
SS Innovations International
3.89
-2.66
-40.61%
OFIX
Orthofix Medical
10.34
-4.17
-28.74%
KIDS
OrthoPediatrics
24.80
5.60
29.17%
SIBN
SI-Bone
18.93
3.39
21.81%
BVS
Bioventus
14.26
7.08
98.61%
TMCI
Treace Medical Concepts
4.79
-2.25
-31.96%
SS Innovations International Corporate Events
Product-Related AnnouncementsBusiness Operations and Strategy
SS Innovations Showcases SSi Mantra at Robotic Surgery Meeting
Positive
Jul 17, 2026
On July 17, 2026, SS Innovations International announced that its advanced SSi Mantra surgical robotic system will be showcased at the Society of Robotic Surgery 2026 Annual Meeting in Hollywood, Florida, from July 23 to 26, 2026. The system will ...
Product-Related AnnouncementsBusiness Operations and Strategy
SS Innovations launches global cardiac robotic surgery training
Positive
Jul 7, 2026
On July 7, 2026, SS Innovations International reported that its SS International Centre for Robotics Surgery in Gurugram, India graduated the inaugural class of a specialized robotic-assisted cardiac surgery training course using the SSi Mantra su...
Business Operations and Strategy
SS Innovations Wins 2026 Surgical Robotics Industry Award
Positive
Jun 30, 2026
On June 30, 2026, SS Innovations International announced it had been named the winner of the Outstanding Company category at the 2026 Surgical Robotics Industry Awards, prevailing over nine other established finalists. The award recognizes surgica...
Private Placements and FinancingRegulatory Filings and Compliance
SS Innovations Launches $50 Million At-The-Market Program
Positive
Jun 18, 2026
On June 18, 2026, SS Innovations International entered into an ATM Sales Agreement with Virtu Americas LLC to sell up to $50 million of its common stock through an at-the-market offering program, with Virtu acting as exclusive sales agent or princ...
Business Operations and StrategyFinancial Disclosures
SS Innovations Showcases Growth Strategy in Investor Presentation
Positive
Jun 15, 2026
In June 2026, SS Innovations International released an investor presentation outlining its position as a fast-growing surgical robotics company focused on advanced but affordable robotic systems to expand access to minimally invasive surgery globa...
Product-Related AnnouncementsBusiness Operations and Strategy
SS Innovations Showcases Record-Breaking Cardiac Robotic Telesurgery
Positive
Jun 4, 2026
On May 26, 2026, SS Innovations International’s SSi Mantra system enabled what the company says is the world’s longest‑distance robotic telesurgery, a robot‑assisted cardiac procedure performed from Georgetown, Guyana on a ...
Executive/Board ChangesBusiness Operations and Strategy
SS Innovations Announces Departure of COO and CFO
Negative
May 26, 2026
On May 18, 2026, SS Innovations International announced that Milan Rao had informed the company he would step down from his roles as Global Chief Operating Officer and Chief Financial Officer, effective May 25, 2026. The company said it has begun ...
Private Placements and FinancingBusiness Operations and StrategyFinancial Disclosures
SS Innovations Reports Strong Q1 Growth and Expansion
Positive
May 13, 2026
On May 13, 2026, SS Innovations reported unaudited first-quarter 2026 results showing revenue more than doubled year over year to $11.1 million, driven by a sharp rise in SSi Mantra system sales, instrument and warranty revenue, and a 73.3% increa...
Product-Related AnnouncementsBusiness Operations and Strategy
SS Innovations Showcases Landmark Cross-Border Robotic Telesurgery
Positive
May 7, 2026
On May 2, 2026, SS Innovations completed a landmark long-distance cross-border telesurgery in which Dr. Mohit Bhandari performed a robotic gastrojejunostomy on a patient in Indore, India, while operating from the Royal Australian College of Surgeo...
Product-Related AnnouncementsBusiness Operations and Strategy
SS Innovations Marks Milestone in Robotic Surgery Adoption
Positive
May 5, 2026
On May 5, 2026, SS Innovations International reported that more than 10,500 cumulative surgeries had been successfully completed using its SSi Mantra surgical robotic system as of April 30, 2026, spanning over 170 procedure types and including mor...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.