SS Innovations (SSII) Q4 2024 Earnings Report

SS Innovations reported Q4 2024 revenue of $5.62 million, delivering year-over-year growth of 312.5% and quarterly growth of 64.98%. Gross profit reached $3.03 million with a gross margin of 53.9%, signaling a favorable product mix despite ongoing profitability pressures. The company remains unprofitable at the operating and net levels, posting an operating loss of $7.63 million and a net loss of $7.45 million for the quarter, with EBITDA of negative $7.20 million. Total operating expenses were $10.66 million, driven by elevated G&A of $10.50 million and R&D spend of $0.77 million. Operating cash flow was negative at $3.26 million, contributing to a free cash flow burn of approximately $3.39 million for the quarter.

Liquidity remains tight with a modest cash balance at period-end ($6.31 million) and a current ratio of 1.29. The balance sheet shows total assets of $42.39 million against total liabilities of $28.93 million and stockholders’ equity of $13.46 million. Net debt stood at about $17.74 million, reflecting reliance on financing activities to sustain operations. Profitability improvements are contingent on scaling platform adoption (SSI Maya, Mudra instruments, and OMNI 3D HD), accelerating revenue growth, and achieving more favorable operating leverage. Management commentary from the earnings call is not available in the provided data, so quotes could not be incorporated.