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Midas Edge

SS Innovations International, Inc.

For the period ended Jun 30, 2025. Filed Aug 6, 2025.

View on SEC.gov

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.

Jun 30, 2025 · Filed Aug 6, 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
NotesJune 30, 2025December 31, 2024
ASSETS
Current Assets:
Cash and cash equivalents7$11,375,265$466,500
Restricted cash75,884,5135,838,508
Accounts receivable, net65,973,9234,466,047
Inventory1418,260,14110,206,898
Prepaids and other current assets89,292,6846,438,338
Total Current Assets50,786,52627,416,291
Property, plant, and equipment, net48,274,1355,385,955
Right of use asset, net152,654,7752,623,880
Deferred tax assets, net16365,641-
Accounts receivable, net – non current64,447,3893,299,032
Restricted cash- non current7345,900318,527
Prepaids and other non current assets83,103,4053,341,528
Total Assets$69,977,771$42,385,213
LIABILITIES AND STOCKHOLDERS' (DEFICIT) EQUITY
Current Liabilities
Bank overdraft facility11$6,980,313$7,994,906
Notes payable10-7,450,000
Current portion of operating lease liabilities15354,626409,518
Accounts payable96,079,7942,312,382
Deferred revenue122,412,6821,278,602
Accrued expenses & other current liabilities93,783,6931,884,814
Total Current Liabilities19,611,10821,330,222
Operating lease liabilities, less current portion152,452,3892,349,118
Deferred Revenue- non current125,779,5255,173,953
Other non current liabilities9111,88074,817
Total Liabilities$27,954,902$28,928,110
Commitments and contingencies21--
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, 2025 and December 31, 20241311
Common stock, 250,000,000 shares authorized, $0.0001 par value, 193,588,410 shares and 171,579,284 shares issued and outstanding as of June 30, 2025 and December 31, 2024 respectively1319,35817,157
Accumulated other comprehensive income (loss)13(822,813)(749,625)
Additional paid in capital1391,526,99956,952,200
Capital reserve899,917899,917
Accumulated deficit(49,600,593)(43,662,547)
Total stockholders’ equity42,022,86913,457,103
Total liabilities and stockholders’ equity$69,977,771$42,385,213

See accompanying notes to Condensed Consolidated Financial Statements

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

For The Three months ended
NotesJune 30, 2025June 30, 2024
REVENUES
System sales128,781,0384,258,198
Instruments sale121,007,830204,121
Warranty sale12193,35928,795
Lease income1218,07818,012
Total revenue$10,000,305$4,509,126
Cost of revenue(4,085,247)(3,071,340)
GROSS PROFIT5,915,0581,437,786
OPERATING EXPENSES:
Research & development expense498,600759,004
Stock compensation expense191,630,2952,443,792
Depreciation and amortization expense4260,36190,476
Selling, general and administrative expense3,428,7882,244,703
TOTAL OPERATING EXPENSES5,818,0445,537,975
Income /(Loss) from operations97,014(4,100,189)
OTHER INCOME (EXPENSE):
Interest Expense(216,800)(242,577)
Interest and other income, net216,824202,196
TOTAL INCOME / (EXPENSE), NET24(40,381)
INCOME / (LOSS) BEFORE INCOME TAXES97,038(4,140,570)
Income tax expense16353,729-
NET LOSS$(256,691)$(4,140,570)
Net loss per share -basic and diluted2(r)$(0.00)$(0.02)
Weighted average-basic shares2(r)193,571,635170,739,380
Weighted average-diluted shares2(r)202,835,698181,843,313
CONSOLIDATED STATEMENTS OF OTHER COMPREHENSIVE LOSS
NET LOSS$(256,691)$(4,140,570)
OTHER COMPREHENSIVE INCOME (LOSS)
Foreign currency translation loss(66,014)(16,131)
Retirement Benefit (net of tax)17(35,660)3,299
Income tax effect relating to retirement benefit175,772-
TOTAL OTHER COMPREHENSIVE INCOME (LOSS)(95,902)(12,832)
TOTAL COMPREHENSIVE LOSS$(352,593)$(4,153,402)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

For The Six months ended
NotesJune 30, 2025June 30, 2024
REVENUES
System sales1213,283,5207,752,957
Instruments sale121,485,038322,636
Warranty sale12315,86338,202
Lease income1236,49433,024
Total revenue$15,120,915$8,146,819
Cost of revenue(8,118,649)(5,980,851)
GROSS PROFIT7,002,2662,165,968
OPERATING EXPENSES:
Research & development expense1,508,6951,286,995
Stock compensation expense194,009,5079,552,542
Depreciation and amortization expense4469,243170,577
Selling, general and administrative expense6,638,5875,088,362
TOTAL OPERATING EXPENSES12,626,03216,098,476
Loss from operations(5,623,766)(13,932,508)
OTHER INCOME (EXPENSE):
Interest Expense(596,705)(432,665)
Interest and other income, net636,156382,850
TOTAL INCOME / (EXPENSE), NET39,451(49,815)
LOSS BEFORE INCOME TAXES(5,584,315)(13,982,323)
Income tax expense16353,729-
NET LOSS$(5,938,044)$(13,982,323)
Net loss per share - basic and diluted2(r)$(0.03)$(0.08)
Weighted average- basic shares2(r)186,244,872170,734,435
Weighted average- diluted shares2(r)195,502,268181,726,502
CONSOLIDATED STATEMENTS OF OTHER COMPREHENSIVE LOSS
NET LOSS$(5,938,044)$(13,982,323)
OTHER COMPREHENSIVE INCOME (LOSS)
Foreign currency translation loss(59,138)(95,445)
Retirement Benefit (net of tax)17(19,822)11,806
Income tax effect relating to retirement benefit175,772-
TOTAL OTHER COMPREHENSIVE INCOME (LOSS)(73,188)(83,639)
TOTAL COMPREHENSIVE LOSS$(6,011,232)$(14,065,962)

CONDENSED CONSOLIDATED STATEMENTS OF STOCK HOLDERS EQUITY

FOR THE THREE MONTHS AND SIX MONTHS ENDED JUNE 30, 2025 AND JUNE 30, 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, 20241,0001171,579,28417,157--56,952,200(43,662,547)899,917(749,625)13,457,103
Stock compensation19------2,110,467---2,110,467
Common stock issued against exercise of warrants13--10,4771--(1)----
Conversion of notes payable to equity13--21,966,4162,196--30,643,163---30,645,359
Net loss-------(5,681,353)-22,714(5,658,639)
Balance as at March 31, 20251,000$1193,556,177$19,354-$-$89,705,829$(49,343,900)$899,917$(726,911)$40,554,290
Stock compensation------1,579,376---1,579,376
Common stock issued against exercise of options--7,4311--(1)----
Stock issued for services--24,8022--241,795---241,797
Net loss-----(256,691)-(95,902)(352,593)
Balance as at June 30, 20251,000$1193,588,410$19,358-$-$91,526,999$(49,600,593)$899,917$(822,813)$42,022,869
Balance as at December 31, 20231,0001170,711,88017,07212,50050,00043,457,937(24,511,350)899,917(195,499)19,718,078
Stock compensation19------6,842,002---6,842,002
Common stock issued against exercise of warrants13--12,5001(12,500)(50,000)49,999----
Stock issued for services13--15,0002--101,249---101,250
Net loss-------(9,841,753)-(70,807)(9,912,560)
Balance as at March 31, 20241,000$1170,739,380$17,075-$-$50,451,187$(34,353,103)$899,917$(266,306)$16,748,770
Stock compensation2,177,0452,177,045
Net loss(4,140,570)(12,832)(4,153,402)
Balance as at June 30, 20241,000$1170,739,380$17,075-$-$52,628,232$(38,493,673)$899,917$(279,138)$14,772,413

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

For the Six months ended
June 30, 2025 · June 30, 2024
Cash flows from operating activities:
Net loss$(5,938,044)$(13,982,323)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization469,243170,577
Operating lease expense423,593357,533
Interest Expense179,455182,530
Interest and other income, net(338,191)(175,147)
(Reversal of) / Provision for credit loss reserve(228,846)573,048
Deferred income tax benefit(365,641)-
Stock compensation expense4,009,5079,552,542
Changes in operating assets and liabilities:
Accounts receivable, net(2,337,679)(3,475,878)
Inventory, net(10,221,214)(199,750)
Deferred revenue1,739,6523,032,484
Prepaids and other assets(2,572,481)(421,539)
Accounts payable3,782,409224,821
Income taxes payable, net620,586-
Accrued expenses & other liabilities1,629,136808,818
Operating lease payment(407,188)(342,202)
Net cash used in operating activities(9,555,703)(3,694,486)
Cash flows from investing activities:
Purchase of property, plant and equipment(1,189,452)(2,239,139)
Net cash used in investing activities(1,189,452)(2,239,139)
Cash flows from financing activities:
Proceeds from bank overdraft facility (net)(1,014,593)842,610
Proceeds from issuance of convertible notes to principal shareholder28,000,0003,000,000
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 activities21,703,9215,292,610
Net change in cash10,958,766(641,015)
Effect of exchange rate on cash23,377108,572
Cash and cash equivalents at the beginning of the period6,623,5357,087,845
Cash and cash equivalents at end of the period$17,605,678$6,555,402
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$2,167,971$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.