Company: QTIWW
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001628280-25-051332
Chunk: 89

Company: QT IMAGING HOLDINGS, INC.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 89
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 products and product candidates, increased support for existing and new distribution partner relationships, and the use of outside service providers such as insurers, consultants, lawyers, and accountants. We also expect selling expenses to increase in the near term as we promote our brand through marketing and advertising initiatives, expand market presence and hire additional personnel to drive penetration and generate leads.

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Results of Operations

Comparison of the three months ended September 30, 2025 and 2024

Three Months EndedSeptember 30,Change 20252024$% Revenue$4,192,101 $955,970 $3,236,131 339 %Cost of revenue2,389,428 350,667 2,038,761 581 %Gross profit1,802,673 605,303 1,197,370 198 %Operating expenses:Research and development938,758 925,214 13,544 1 %Selling, general and administrative2,515,994 2,007,277 508,717 25 %Total operating expenses3,454,752 2,932,491 522,261 18 %Loss from operations(1,652,079)(2,327,188)675,109 29 %Other income (expense), net(30,559)16,995 (47,554)(280)%Change in fair value of warrant liability(80,043)8,805 (88,848)N.M.Change in fair value of derivative liability— 87,200 (87,200)(100)%Change in fair value of earnout liability(2,230,000)50,000 (2,280,000)N.M.Interest expense, net(564,725)(1,455,306)890,581 61 %Loss before income tax expense(4,557,406)(3,619,494)(937,912)(26)%Income tax expense— — — N.M.Net loss and comprehensive loss$(4,557,406)$(3,619,494)$(937,912)(26)%

N.M. - Not meaningful

Revenue

Revenue increased by $3,236,131 to $4,192,101 for the three months ended September 30, 2025 from $955,970 for the three months ended September 30, 2024. The increase in revenue was primarily attributable to the sale of nine QT Breast