SS Innovations International, Inc.

For the period ended Mar 31, 2025. Filed May 14, 2025.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2025 · Filed May 14, 2025

SSII$2.11+11.1%Stored close · as of Nov 6, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits

Contents

Financial Statements

Item 1. Financial Statements

	As of
	Notes	March 31, 2025	December 31, 2024
ASSETS
Current Assets:
Cash and cash equivalents	7	$15,873,217	$466,500
Restricted cash	7	5,886,589	5,838,508
Accounts receivable, net	6	3,962,202	4,466,047
Inventory, net	14	14,295,141	10,206,898
Prepaids and other current assets	8	7,602,794	6,438,338
Total Current Assets		47,619,943	27,416,291
Non- Current Assets:
Property, plant, and equipment, net	4	7,044,307	5,385,955
Right of use asset	15	2,629,225	2,623,880
Accounts receivable, net	6	2,818,043	3,299,032
Restricted cash- Non current	7	318,982	318,527
Prepaids and other non current assets	8	3,026,461	3,341,528
Total Non-Current Assets		15,837,018	14,968,922
Total Assets		$63,456,961	$42,385,213
LIABILITIES AND STOCKHOLDERS' (DEFICIT) EQUITY
Current Liabilities
Bank overdraft facility	11	$7,682,411	$7,994,906
Notes payable	10	-	7,450,000
Current portion of operating lease liabilities	15	368,309	409,518
Accounts payable	9	3,641,410	2,312,382
Deferred revenue	12	1,871,275	1,278,602
Accrued expenses & other current liabilities	9	1,433,308	1,884,814
Total Current Liabilities		14,996,713	21,330,222
Non- Current Liabilities
Operating lease liabilities, less current portion	15	2,402,653	2,349,118
Deferred Revenue- Non Current	12	5,405,227	5,173,953
Other non current liabilities	9	98,078	74,817
Total Non-Current Liabilities		7,905,958	7,597,888
Total Liabilities		$22,902,671	$28,928,110
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, 2025 and December 31, 2024	13	1	1
Common stock, 250,000,000 shares authorized, $0.0001 par value, 193,556,177 shares and 171,579,284 shares issued and outstanding as of March 31, 2025 and December 31, 2024 respectively	13	19,354	17,157
Accumulated other comprehensive income (loss)	13	(726,911)	(749,625)
Additional paid in capital	13	89,705,829	56,952,200
Capital reserve		899,917	899,917
Accumulated deficit		(49,343,900)	(43,662,547)
Total stockholders’ equity		40,554,290	13,457,103
Total liabilities and stockholders’ equity		$63,456,961	$42,385,213

See accompanying notes to Condensed Consolidated Financial Statements

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

	For The Three months ended
	Notes	March 31, 2025	March 31, 2024
REVENUES
System sales	12	4,502,482	3,494,759
Instruments sale	12	477,208	118,515
Warranty sale	12	122,504	9,407
Lease income	12	18,416	15,012
Total revenue		$5,120,610	$3,637,693
Cost of revenue		(4,033,402)	(2,909,511)
GROSS PROFIT		1,087,208	728,182
OPERATING EXPENSES:
Research & development expense		1,010,095	527,991
Stock compensation expense	19	2,379,212	7,108,750
Depreciation and amortization expense	4	208,882	80,101
Selling, general and administrative expense		3,410,872	2,843,659
TOTAL OPERATING EXPENSES		7,009,061	10,560,501
Loss from operations		(5,921,853)	(9,832,319)
OTHER INCOME (EXPENSE):
Interest Expense		(379,905)	(190,088)
Interest and other income, net		620,405	180,654
TOTAL OTHER INCOME (EXPENSE), NET		240,500	(9,434)
LOSS BEFORE INCOME TAXES		(5,681,353)	(9,841,753)
Income tax expense	16	-	-
NET LOSS		$(5,681,353)	$(9,841,753)
Net loss per share - basic and diluted	2(r)	$(0.03)	$(0.06)
Weighted average- basic shares	2(r)	178,836,342	170,729,490
Weighted average- diluted shares	2(r)	188,599,859	181,609,691
CONSOLIDATED STATEMENTS OF OTHER COMPREHENSIVE LOSS
NET LOSS		$(5,681,353)	$(9,841,753)
OTHER COMPREHENSIVE INCOME (LOSS)
Foreign currency translation gain/(loss)		6,876	(79,314)
Retirement Benefit (net of tax)	17	15,838	8,507
TOTAL COMPREHENSIVE LOSS		$(5,658,639)	$(9,912,560)

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

FOR THE THREE MONTHS ENDED MARCH 31, 2025, AND MARCH 31, 2024

Preferred Stock · Common Stock · Common Stock to be Issued · Additional Paid-In · Accumulated · Capital · Accumulated other comprehensive · Total Stockholders’
Notes · Number · Amount · Number · Amount · Number · Amount · Capital · Deficit · Reserve · income (loss) · equity
Balance as at December 31, 2024		1,000	1	171,579,284	17,157	-		-	56,952,200	(43,662,547)	899,917	(749,625)	13,457,103
Stock compensation	19	-	-	-	-	-		-	2,110,467	-	-	-	2,110,467
Common stock issued against exercise of warrants	13	-	-	10,477	1	-		-	(1)	-	-	-	-
Conversion of notes payable to equity	13	-	-	21,966,416	2,196	-		-	30,643,163	-	-	-	30,645,359
Net loss		-	-	-	-	-		-	-	(5,681,353)	-	22,714	(5,658,639)
Balance as at March 31, 2025		1,000	$1	193,556,177	$19,354	-	$	-	$89,705,829	$(49,343,900)	$899,917	$(726,911)	$40,554,290
Balance as at December 31, 2023		1,000	1	170,711,880	17,072	12,500		50,000	43,457,937	(24,511,350)	899,917	(195,499)	19,718,078
Stock compensation	19	-	-	-	-	-		-	6,842,002	-	-	-	6,842,002
Common stock issued against exercise of warrants	13	-	-	12,500	1	(12,500)		(50,000)	49,999	-	-	-	-
Stock issued for services	13	-	-	15,000	2	-		-	101,249	-	-	-	101,250
Net loss		-	-	-	-	-		-	-	(9,841,753)	-	(70,807)	(9,912,560)
Balance as at March 31, 2024		1,000	$1	170,739,380	$17,075	-	$	-	$50,451,186	$(34,353,103)	$899,917	$(266,306)	$16,748,770

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

	For The Three months ended
March 31, 2025 · March 31, 2024
Cash flows from operating activities:
Net loss	$(5,681,353)		$(9,841,753)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	208,882		80,101
Operating lease expense	205,275		178,871
Interest Expense	155,015		283,868
Interest and other income, net	(140,928)		(168,746)
(Reversal of) / Provision for credit loss reserve	(422,711)		389,330
Stock compensation expense	2,379,212		7,108,750
Changes in operating assets and liabilities:
Accounts receivable, net	1,275,750		(3,186,108)
Inventory, net	(5,082,673)		(1,326,859)
Deferred revenue	823,947		2,290,417
Prepaids and other assets	(1,003,604)		56,511
Accounts payable	1,329,028		926,083
Accrued expenses & other liabilities	48,331		705,455
Operating lease payment	(197,545)		(167,838)
Net cash used in operating activities	(6,103,374)		(2,671,918)
Cash flows from investing activities:
Purchase of property, plant and equipment	(872,804)		(127,255)
Net cash used in investing activities	(872,804)		(127,255)
Cash flows from financing activities:
Proceeds from bank overdraft facility (net)	(312,495)		188,259
Proceeds from issuance of convertible notes to principal shareholder	28,000,000		1,000,000
Proceeds from issuance of convertible notes to other investors	-		1,450,000
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	22,406,019		2,638,259
Net change in cash	15,429,841		(160,914)
Effect of exchange rate on cash	25,412		(31,351)
Cash and cash equivalents at the beginning of the period	6,623,535		7,087,845
Cash and cash equivalents at end of the period	$22,078,788		$6,895,580
Supplemental disclosure of cash flow information:
Conversion of convertible notes into common stock, including interest	$30,645,360	$	-
Transfer of systems from inventory to property, plant and equipment	$994,430		$1,422,880

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.