$SSII

SS Innovations International, Inc.

CIK:0001676163|SEC Filings

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)

3 Months Ended

6 Months Ended

Jun. 30, 2026

Jun. 30, 2025

Jun. 30, 2026

Jun. 30, 2025

REVENUES

Total revenue

$ 13,939,709

$ 10,000,305

$ 25,041,075

$ 15,120,915

Cost of revenue

(6,838,759)

(4,085,247)

(12,612,904)

(8,118,649)

GROSS PROFIT

7,100,950

5,915,058

12,428,171

7,002,266

OPERATING EXPENSES:

Research & development expense

2,395,694

498,600

3,391,134

1,508,695

Stock-based compensation expense

2,178,156

1,630,295

5,322,471

4,009,507

Depreciation and amortization expense

346,364

260,361

670,111

469,243

Selling, general and administrative expense

4,452,090

3,428,788

8,941,387

6,638,587

TOTAL OPERATING EXPENSES

9,372,304

5,818,044

18,325,103

12,626,032

Loss from operations

(2,271,354)

97,014

(5,896,932)

(5,623,766)

OTHER INCOME (EXPENSE):

Interest Expense

(344,761)

(216,800)

(628,812)

(596,705)

Interest and other income, net

460,041

216,824

938,451

636,156

TOTAL OTHER INCOME, NET

115,280

309,639

39,451

LOSS BEFORE INCOME TAXES

(2,156,074)

97,038

(5,587,293)

(5,584,315)

Income tax expense

505,276

353,729

656,628

353,729

NET LOSS

$ (2,661,350)

$ (256,691)

$ (6,243,921)

$ (5,938,044)

Net loss per share - basic (in Dollars per share)

$ (0.01)

$ (0)

^[1]

$ (0.03)

Net loss per share - diluted (in Dollars per share)

$ (0.01)

$ (0)

^[1]

$ (0.03)

Weighted average- basic shares (in Shares)

200,136,068

193,571,635

198,083,415

186,244,872

Weighted average- diluted shares (in Shares)

209,422,550

202,835,698

207,369,897

195,502,268

CONSOLIDATED STATEMENTS OF OTHER COMPREHENSIVE LOSS

NET LOSS

$ (2,661,350)

$ (256,691)

$ (6,243,921)

$ (5,938,044)

OTHER COMPREHENSIVE LOSS

Foreign currency translation loss

(404,867)

(66,014)

(1,961,978)

(59,138)

Retirement Benefit

(25,651)

(35,660)

(20,870)

(19,822)

RECLASSIFICATION ADJUSTMENTS:

Retirement Benefit

^[2]

3,033

6,089

Income tax effects relating to retirement benefit

^[2]

6,456

5,772

5,253

5,772

TOTAL OTHER COMPREHENSIVE LOSS

(421,029)

(95,902)

(1,971,506)

(73,188)

TOTAL COMPREHENSIVE LOSS

(3,082,379)

(352,593)

(8,215,427)

(6,011,232)

System sales

REVENUES

Total revenue

12,361,986

8,781,038

21,937,356

13,283,520

Instrument sales

REVENUES

Total revenue

1,142,525

1,007,830

2,293,753

1,485,038

Warranty sales

REVENUES

Total revenue

419,002

193,359

776,688

315,863

Lease income

REVENUES

Total revenue

$ 16,196

$ 18,078

$ 33,278

$ 36,494

[1]	Value is less than 0.001
[2]	These are reclassified to net loss and are included in other expense in the condensed consolidated statements of operations.

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net loss	$ (6,243,921)	$ (5,938,044)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	670,111	469,243
Operating lease expense	471,459	423,593
Interest expense	84,938	179,455
Interest and other income, net	(814,218)	(338,191)
Deferred income tax benefit	(336,457)	(365,641)
Stock-based compensation expense	5,368,330	4,009,507
Provision for / (reversal of) credit loss reserve, net	297,882	(228,846)
Provision for slow moving inventory	(6,225)
Changes in operating assets and liabilities:
Accounts receivable, net	(4,286,490)	(2,337,679)
Inventory, net	(1,411,376)	(10,221,214)
Deferred revenue	2,205,501	1,739,652
Prepaids and other assets	(3,955,550)	(2,572,481)
Accounts payable	127,728	3,782,409
Income taxes payable, net	933,184	620,586
Accrued expenses & other liabilities	782,787	1,629,136
Operating lease payment	(434,132)	(407,188)
Net cash used in operating activities	(6,546,449)	(9,555,703)
Cash flows from investing activities:
Purchase of property, plant and equipment	(215,060)	(1,189,452)
Net cash used in investing activities	(215,060)	(1,189,452)
Cash flows from financing activities:
Proceeds from bank overdraft facility (net)	3,192,012	(1,014,593)
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	21,638,510	21,703,921
Net change in cash	14,877,001	10,958,766
Effect of exchange rate on cash	(1,808,998)	23,377
Cash and cash equivalents at the beginning of the period	9,603,020	6,623,535
Cash and cash equivalents at end of the period	22,671,023	17,605,678
Supplemental disclosure of cash flow information:
Transaction costs relating to private investment in public equity	175,000
Conversion of convertible notes into common stock, including interest		30,645,360
Transfer of systems from inventory to property, plant and equipment		$ 2,167,971

Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2026	Dec. 31, 2025
Current Assets:
Cash and cash equivalents	$ 13,647,430	$ 3,206,406
Restricted cash	8,648,461	5,937,650
Accounts receivable, net	16,986,089	12,398,542
Inventory	18,481,603	17,064,002
Prepaids and other current assets	13,690,369	10,166,823
Total Current Assets	71,453,952	48,773,423
Property, plant, and equipment, net	8,637,145	9,100,546
Right of use asset, net	3,045,707	2,754,020
Deferred tax assets, net	843,544	533,727
Accounts receivable, net-non current	8,511,054	8,566,654
Restricted cash- non current	375,132	458,964
Prepaids and other non current assets	4,115,479	4,038,883
Total Assets	96,982,013	74,226,217
Current Liabilities
Bank overdraft facility	14,634,960	11,442,948
Current portion of operating lease liabilities	687,707	579,169
Accounts payable	5,265,754	5,127,193
Deferred revenue	3,916,269	3,266,686
Accrued expenses & other current liabilities	7,387,037	5,825,702
Total Current Liabilities	31,891,727	26,241,698
Operating lease liabilities, less current portion	2,549,823	2,337,697
Deferred Revenue- non current	8,695,725	7,139,807
Other non current liabilities	443,515	288,764
Total Liabilities	43,580,790	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 June 30, 2026 and December 31, 2025	1	1
Common stock, 250,000,000 shares authorized, $0.0001 par value, 200,169,035 shares and 194,165,141 shares issued and outstanding as of June 30, 2026 and December 31, 2025 respectively	20,017	19,416
Accumulated other comprehensive loss	(3,994,166)	(2,022,660)
Additional paid in capital	118,509,309	95,111,511
Capital reserve	899,917	899,917
Accumulated deficit	(62,033,855)	(55,789,934)
Total stockholders’ equity	53,401,223	38,218,251
Total liabilities and stockholders’ equity	$ 96,982,013	$ 74,226,217