QTI

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QT Imaging Holdings, Inc.

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Key Metrics

Previous Close: $2.82
52-Week Range: $2.62 – $46.05
Market Cap: $40.69M
P/E (TTM): —
EPS (TTM): -1.39
Dividend Yield: —

Advanced Metrics

Price/Book: 17.06
PEG Ratio: —
Return on Equity: -2125.30%
Return on Assets: -19.42%
Gross Margin: 40.39%
Operating Margin: -25.07%
Profit Margin: -77.26%
Current Ratio: 3.10
Debt/Equity: 7.00
Total Debt: $15.73M
Free Cash Flow: $-11.40M
Revenue Growth: 103.20%
Earnings Growth: —
Enterprise Value: $46.08M

QTI Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$0.00	$40.35K	$4.88M	$18.93M
Cost of Revenue	$556.92K	$134.99K	$2.24M	$10.34M
Gross Profit	$0.00	-$94.63K	$2.64M	$8.58M
Research & Development	$2.39M	$1.49M	$3.27M	$3.94M
Selling, General & Admin	$4.28M	$3.43M	$11.55M	$9.09M
Operating Expenses	$4.28M	$4.91M	$14.82M	$13.02M
Operating Income	-$4.28M	-$5.01M	-$12.18M	-$4.44M
EBITDA	-$2.26M	-$5.07M	-$4.27M	-$18.31M
Pretax Income	-$2.29M	-$6.10M	-$9.00M	-$21.08M
Income Tax	$486.62K	$1.60K	-$16.00K	-$1.00K
Net Income	-$2.77M	-$6.10M	-$8.98M	-$21.08M
Diluted EPS	-0.87	-1.92	-0.71	-2.01
Diluted Shares	9.54M	3.18M	6.66M	10.48M

QTI Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$78.20K	$164.69K	$1.17M	$10.41M
Receivables	$0.00	$1.29K	$67.00K	$5.78M
Inventory	$4.78M	$4.42M	$3.14M	$5.03M
Current Assets	$250.70K	$4.82M	$4.92M	$22.09M
Total Assets	$41.95M	$6.71M	$6.09M	$23.02M
Current Liabilities	$4.19M	$7.34M	$9.79M	$7.87M
Long-Term Debt	$6.00M	$3.24M	$3.86M	$4.58M
Total Debt	$861.37K	$9.57M	$9.91M	$5.24M
Total Liabilities	$13.42M	$12.02M	$15.63M	$16.58M
Retained Earnings	-$13.08M	-$17.77M	-$31.94M	-$53.02M
Shareholders' Equity	$28.53M	-$5.31M	-$9.54M	$6.45M
Working Capital	-$3.94M	-$2.52M	-$4.88M	$14.22M
Net Debt	$783.18K	$7.98M	$7.67M	—

QTI Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	-$1.26M	-$2.65M	-$10.03M	-$8.96M
Capital Expenditure	-$22.60K	-$13.04K	-$88.00K	-$124.00K
Free Cash Flow	-$1.26M	-$2.66M	-$10.12M	-$9.08M
Depreciation & Amortisation	$651.75K	$480.69K	$231.00K	$131.00K
Stock-Based Compensation	$790.75K	$709.39K	$290.00K	$801.00K
Investing Cash Flow	$192.24M	-$13.04K	-$88.00K	-$124.00K
Financing Cash Flow	-$191.32M	$2.37M	$11.13M	$18.35M
Share Repurchases	-$192.14M	-$20.28M	—	—
Net Change in Cash	-$343.35K	-$290.39K	$1.01M	$9.27M

QTI Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$2.80M	$3.66M	$4.19M	$8.28M	$6.53M
Cost of Revenue	$986.00K	$1.83M	$2.39M	$5.13M	$3.86M
Gross Profit	$1.81M	$1.83M	$1.80M	$3.14M	$2.67M
Research & Development	$852.00K	$900.69K	$938.76K	$1.24M	$1.72M
Selling, General & Admin	$2.00M	$1.97M	$2.52M	$2.60M	$3.30M
Operating Expenses	$2.85M	$2.87M	$3.45M	$3.84M	$5.02M
Operating Income	-$1.04M	-$1.04M	-$1.65M	-$700.21K	-$2.35M
EBITDA	-$10.41M	-$3.58M	-$3.95M	-$372.35K	-$2.46M
Pretax Income	-$11.14M	-$4.00M	-$4.56M	-$1.39M	-$3.41M
Income Tax	—	$2.78K	$0.00	-$3.78K	—
Net Income	-$11.14M	-$4.00M	-$4.56M	-$1.39M	-$3.41M
Diluted EPS	-1.21	-0.14	-0.47	-0.10	-0.25
Diluted Shares	9.17M	28.35M	9.60M	13.58M	13.80M

QTI Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$2.99M	$2.02M	$1.72M	$10.41M	$6.90M
Receivables	$2.78M	$4.32M	$3.27M	$5.78M	$6.35M
Inventory	$2.87M	$3.23M	$5.24M	$5.03M	$6.83M
Current Assets	$9.81M	$10.67M	$11.29M	$22.09M	$21.20M
Total Assets	$10.86M	$11.63M	$12.12M	$23.02M	$22.03M
Current Liabilities	$5.28M	$6.31M	$12.74M	$7.87M	$8.53M
Long-Term Debt	$3.85M	$3.92M	$4.17M	$4.58M	$5.25M
Total Debt	$4.88M	$4.82M	$9.95M	$5.24M	$5.80M
Total Liabilities	$31.07M	$11.96M	$21.20M	$16.58M	$18.23M
Retained Earnings	-$43.08M	-$47.08M	-$51.64M	-$53.02M	-$56.43M
Shareholders' Equity	-$20.21M	-$324.29K	-$9.08M	$6.45M	$3.80M
Working Capital	$4.53M	$4.36M	-$1.45M	$14.22M	$12.67M
Net Debt	$925.10K	$1.93M	$7.48M	—	—

QTI Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	-$3.54M	-$1.44M	-$878.75K	-$3.10M	-$3.65M
Capital Expenditure	—	—	—	-$77.18K	-$17.00K
Free Cash Flow	-$3.54M	-$1.49M	-$878.75K	-$3.18M	-$3.67M
Depreciation & Amortisation	$38.00K	$37.92K	$39.55K	$15.53K	$20.00K
Stock-Based Compensation	$101.00K	$218.93K	$198.79K	$282.28K	$381.00K
Investing Cash Flow	$0.00	-$46.82K	$0.00	-$77.18K	-$17.00K
Financing Cash Flow	$5.35M	$523.72K	$571.97K	$11.91M	$159.00K
Net Change in Cash	$1.82M	-$965.92K	-$306.78K	$8.73M	-$3.51M

Market Snapshot

About

QT Imaging Holdings is developing advanced breast imaging technology using transmission ultrasound. The company aims to provide safer, more comfortable, and more accurate alternatives to traditional mammography, eliminating radiation exposure and compression. QTI is in the commercialization phase and targeting both screening and diagnostic applications in breast health.