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- Material Weakness (worsened) — Material weaknesses in internal controls persist for over a year and are now cross-referenced to the 2025 10-K rather than described in detail, indicating unresolved deficiencies in financial reporting controls.
SSII revenue doubles to $11.1M as robotic system sales surge; FDA/CE mark filings underway
Filed May 13, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 14, 2025 · ~1 min read
Key Changes
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Revenue jumped 117% YoY to $11.1M driven by 18 system sales (vs 8 prior year) and upgraded Mantra 3 product line; gross margin expanded from 21% to 48% as business scales toward profitability.
MD&A: Revenue & Margins verify on EDGAR → -
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Company filed for U.S. FDA approval and EU CE mark during 2025 with efforts continuing into 2026; regulatory clearance in these markets would unlock major revenue expansion beyond current India focus.
MD&A: Regulatory Milestones verify on EDGAR → -
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Net loss narrowed 37% to $3.6M from $5.7M; Indian subsidiary turned taxable-profit positive for first time, triggering $151K tax expense and signaling sustained operational profitability in core market.
MD&A: Profitability Trajectory verify on EDGAR →
2 more material changes behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.
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Source-verified from EDGAR · Narrative written by AI · Jun 1, 2026 · How we verify