On March 27, 2026, Edge Medical® announced its full-year results for 2025.

If we look only at a few core figures, this announcement is quite straightforward:

• Revenue: RMB 456 million, up 185%

• Gross Profit: RMB 301 million, up 207%

• Gross Margin: 66%

• Adjusted Net Loss: RMB 21 million, down 89%
  

  

But what is truly interesting is that these indicators did not evolve in a linear sequence, but instead “resonated” at the same point in time.

This is not common in the surgical robotics sector.

Most companies typically follow a path of: installations first, then revenue, then gradually gross profit, and only later profitability.

But in this cycle, Edge Medical shows that gross profit scale, gross margin, and profitability improved almost simultaneously.

The question then becomes: how did Edge Medical become one of the few companies globally to enter a “closed-loop commercialization” stage ahead of others?

RMB 301M Gross Profit: Commercialization Is Not Just About Volume, But About “Standing Firm”

Let’s first look at the most intuitive figure — RMB 301 million in gross profit, with growth exceeding 200%. According to publicly disclosed industry data, this level of gross profit ranks No.1 among domestic surgical robotics companies.

Compared with the strong growth curve, the deeper significance lies in its industry benchmarking value.

In today’s global surgical robotics market:

• Mature players (such as Intuitive Surgical) have already completed platformization

• Most new entrants are still in continuous investment phases

• This level of gross profit is extremely rare in the early stage of commercialization

Therefore, RMB 300 million in gross profit is not merely a change in earnings figures, but a qualitative shift in Edge Medical’s self-sustaining capability.

Looking one layer deeper:

• It is not driven by one-off orders, but recurring revenue is taking shape

• It is not driven by cost-cutting, but economies of scale are starting to take effect

• It is not a temporary improvement, but structural stability is beginning to form

In short, Edge Medical has moved beyond the early stage of “selling products” and has formally entered the first tier with true “commercialization quality.”

66% Gross Margin: Benchmarking Against “da Vinci”

Gross profit scale answers whether money is being made, but gross margin determines whether it is being made in a healthy way.

In 2025, Edge Medical achieved a 66% gross margin, an increase of about 5 percentage points.

Looking at this number alone, it may seem simply “solid”; but when benchmarked against the industry, it sits within a critical range.

Currently, Intuitive Surgical maintains a long-term gross margin of about 67%–68%. What does this level represent?

• Large-scale installed base

• Stable surgical volume

• Mature consumables-driven revenue structure

In other words, this is the gross margin range of a mature platform company.

Where is Edge Medical at this stage?

• Equipment sales are still the primary driver

• Consumables and services have not yet fully scaled

• Installations are still in an expansion phase

Yet under these conditions, it has already reached 66%.

This fact is itself very direct: its operational capability has already entered the range of mature companies ahead of schedule.

Breaking it down, this reflects three deeper capabilities:

• Cost control has stabilized (rather than fluctuating with scale)

• Pricing power is beginning to take shape (not relying on subsidies or discounts)

• System integration efficiency is emerging (product architecture has become smooth)

Therefore, Edge Medical’s gross margin is not only “strong,” but resembles that of a mature platform company.

Profitability Achieved in H2: A True Industry Threshold Has Been Crossed

Compared with gross profit and gross margin, what deserves separate attention is profitability.

According to company disclosures and business progress, Edge Medical has already achieved profitability in the second half of 2025.

Viewed in the context of the industry, this carries more weight.

In the surgical robotics sector, most companies are still doing one thing: continuous investment in exchange for growth.

Installations, R&D, and market expansion all require capital support, and very few companies have truly crossed the profitability threshold.

Edge Medical is the second company globally to achieve “semi-annual profitability” in surgical robotics.

This means:

• The business model has been validated

• Revenue has begun to cover costs

• Growth is no longer entirely dependent on continued investment

From the financial data disclosed, we can also observe this trajectory:

• Adjusted net loss narrowed to approximately RMB 20.5 million

• A decrease of nearly 90%

• Already close to break-even

At this point, this is no longer just about “loss narrowing,” but about being one step away from true profitability.

More importantly, once this threshold is crossed, the company’s growth logic will shift significantly — from “investment-driven” to “scale + efficiency-driven.”

In the surgical robotics industry, this represents a true barrier.

And Edge Medical has already reached this side of the threshold.

Installations and Globalization: The Pace Is Clearly Accelerating

If financial data represents results, then installations and surgical volume are the true leading indicators.

Looking at Edge Medical’s installation pace in 2025, one impression stands out clearly — this is no longer experimentation, but execution at scale.

As of the end of 2025:

• Global cumulative installations / shipments: 100 units

  • China: 46

  • Overseas: 54

• New installations in 2025: 72 units

  • China: 22

  • Overseas: 50

Behind these numbers, there are two key signals.

First, installation scale has moved beyond the “validation phase” and entered a steady ramp-up stage.

An annual addition of 72 units indicates that this is no longer exploratory deployment, but a clear commercialization rollout pace.

Second, the growth center is rapidly shifting overseas.

With nearly 70% of new installations overseas, Edge Medical is no longer confined to domestic substitution, but has entered true global competition.

This is also reflected in the revenue structure:

• Overseas markets account for 60% of revenue (by end-customer location)

The product has completed initial validation in international markets.

Looking further into clinical adoption, the conversion from “installation → utilization” is happening simultaneously:

• Total global procedures exceed 14,000 cases

• Multi-port systems exceed 12,000 cases

• Single-port systems exceed 2,000 cases

• Remote surgeries exceed 500 cases

Including:

• A single center (Zhujiang Hospital, Southern Medical University) exceeding 1,200 cases

• Deployment in overseas markets such as Brazil, with accelerated entry into Europe

Taken together, these figures point to a single shift: the system has become a “routine clinical tool.”

Once this shift occurs, installations are no longer just sales, but represent infrastructure-level penetration.

Products and Platform: Integrated Capabilities Are Converting into Commercial Results

Looking only at the disclosed financial data, it is difficult to explain why these indicators converged in 2025. But if we look back, a more continuous process becomes clear.

Over the past year, Edge Medical has not been advancing along a single path, but multiple tracks simultaneously:

At the product level:

• Multi-port, single-port, and natural orifice systems form a complete layout

• The single-port robot has expanded into four major departments

• The multi-port system has achieved global access across 55 countries/regions

At the platform capability level:

• Multi-port and single-port share the same control system and console

• A unified technical foundation supports different procedures

• Remote capability is directly embedded into system architecture

At the same time, in March 2026, two key milestones were completed:

• The “multi-port + single-port + remote” integrated platform was approved

• The single-port robot achieved full coverage of four core departments

Viewed together, this makes it clear: capabilities are accumulating and being reorganized simultaneously.

When control systems, product architecture, clinical adaptation, and commercialization pathways align, financial performance will naturally converge at a single point in time.

Therefore, the core financial performance disclosed in the 2025 results is essentially the result of systemic capability convergence over time.

Early 2026: The Signal Behind 30+ Installations Matters More Than the Number Itself

If 2025 was about validating commercialization quality, then the only key question for 2026 is: can growth continue to accelerate?

The signals so far are already quite clear.

As of early 2026:

• New / pending installations: 33 units

  • China: 8

  • Overseas: 25

The key lies in three more direct signals:

First, a fast start.

Securing 30+ installations in Q1 indicates that the year did not begin from zero, but continues along an already activated trajectory.

Second, overseas remains the primary driver.

More than 75% of new installations are overseas, indicating that global expansion is still accelerating.

Third, growth is continuous.

The high growth of 2025 has not stopped at year-end, but has carried directly into 2026.

Taken together, a basic conclusion can already be drawn:

The focus this year is not on whether growth will occur, but on how fast it can grow.

Conclusion

In the surgical robotics industry, product innovation is never scarce.

What truly creates differentiation often happens one step later: who can translate technology into stable commercial outcomes.

From this earnings report, Edge Medical has achieved several key milestones at the same time:

• Gross profit scale has been established

• Gross margin has entered the mature range

• Profitability has begun to emerge

• Global markets are expanding simultaneously

More importantly, these did not occur sequentially, but simultaneously.

This makes the outlook for 2026 much clearer:

What Edge Medical needs to validate next is no longer just growth itself, but its position in the global surgical robotics landscape.

April 2, 2026