- SS Innovations International (SSII, Financial) approved for Nasdaq uplisting; trading begins April 25, 2025.
- 2024 revenue surges 251% to $20.6 million, with gross margins improving to 40.9%.
- SSi Mantra system installed in 75 hospitals, completing over 3,500 surgeries including 195+ cardiac surgeries.
SS Innovations International, Inc. (SSII), a company developing affordable surgical robotic technologies, has announced its approval to uplist from the OTC markets to the Nasdaq Capital Market. Trading is set to commence on April 25, 2025, under the existing ticker symbol “SSII”. This strategic move is expected to enhance trading liquidity and broaden investment opportunities for the company.
In 2024, SSII reported a substantial financial performance with revenues reaching $20.6 million, marking an impressive 251% increase from $5.9 million in 2023. The company's gross margin also saw significant improvement, rising from 12.3% to 40.9%.
The company's flagship product, the SSi Mantra surgical robotic system, has been successfully installed in 80 units across 75 hospitals in India and other countries. More than 3,500 surgeries have been performed using the system, including over 195 cardiac procedures, with no device-related complications reported.
Notably, SSII is the first Indian company to receive the Central Drugs Standard Control Organization (CDSCO) approval for telesurgery, having completed 16 telesurgery operations, including the world’s first robotic cardiac telesurgeries over distances up to 1,200 miles.
Dr. Sudhir Srivastava, Chairman and CEO of SS Innovations, emphasized that the Nasdaq uplisting aligns with the company's global expansion plans, which include strategic entry into markets such as Europe and the United States. The company is actively pursuing EU CE Mark and U.S. FDA approvals for its SSi Mantra system, anticipated by late 2025 and early 2026, respectively.
