Company: QTIWW
Filing Date: 2025-02-05
Form Type: 424B3
Source: 0001628280-25-004061
Chunk: 164

Company: QT IMAGING HOLDINGS, INC.
Filing Date: 2025-02-05
Form: 424B3
Chunk 164
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 September of 2023. We did not have an earnout liability during the three months ended September 30, 2023.

Interest expense, net

Interest expense, net increased by $1,322,462 to $1,455,306 for the three months ended September 30, 2024 from $132,844 for the three months ended September 30, 2023. This change is primarily driven by an increase in the amortization of debt discount of $1,203,363 for the Pre-Paid Advance and the Cable Car Note and interest expense of $149,676 for the Pre-Paid Advance.

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Comparison of the nine months ended September 30, 2024 and 2023

|                                              |     | Nine Months Ended 
     September 30, |             |     |      |            |     | Change |            |     |      |      |      |
|:---------------------------------------------|:----|------------------:|------------:|:----|-----:|-----------:|:----|:-------|-----------:|:----|:-----|-----:|:-----|
|                                              |     |              2024 |             |     | 2023 |            |     | $      |            |     | %    |      |      |
| Revenue                                      |     |                 $ |   4,032,168 |     |    $ |     35,404 |     | $      |  3,996,764 |     | N.M. |      |      |
| Cost of revenue                              |     |                   |   1,792,234 |     |      |     73,497 |     |        |  1,718,737 |     |      |      | N.M. |
| Gross profit (loss)                          |     |                   |   2,239,934 |     |      |    -38,093 |     |        |  2,278,027 |     |      |      | N.M. |
| Operating expenses:                          |     |                   |             |     |      |            |     |        |            |     |      |      |      |
| Research and development                     |     |                   |   2,492,842 |     |      |  1,083,373 |     |        |  1,409,469 |     |      |  130 | %    |