Company: QTIWW
Filing Date: 2025-12-29
Form Type: S-1/A
Source: 0001628280-25-058960
Chunk: 371

Company: QT IMAGING HOLDINGS, INC.
Filing Date: 2025-12-29
Form: S-1/A
Chunk 371
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 Company was awarded a grant of up to $ 1,078,347as a subaward through the Board of Trustees of the University of Illinois for the purpose of developing a quantitative ultrasound breast scanner for identifying early response of breast cancer to chemotherapy. The grant is a cost reimbursement subaward that is allocated annually over five years, subject to the availability of funds and satisfactory progress of the project. The award expires July 31, 2027 and may be terminated by either party with 30days written notice. Any grant proceeds received do not require repayment. As of December 31, 2024, the Company incurred total costs of $ 388,359against the year one allocation of $ 351,994, against the year two allocation of $ 194,566, and against the year three allocation of $ 119,000. During the year ended December 31, 2024, the Company incurred costs of $ 39,305, of which $ 23,509of grant income was recognized as an offset to research and development expense and $ 15,796was recognized as an offset to selling, general and administrative expense in the consolidated statements of operations and comprehensive loss. During the year ended December 31, 2023, the Company incurred costs of $ 318,276, of which $ 277,037of grant income was recognized as an offset to research and development expense and $ 41,239was recognized as an offset to selling, general and administrative expense in the consolidated statements of operations and comprehensive loss. As of December 31, 2024 and 2023, the grant receivable was $ 11,255and $ 161,638, respectively, and is included in prepaid expenses and other current assets on the consolidated balance sheets.

#### 14. Income Taxes
Loss before income tax expense (benefit) consisted of the following for the years ended December 31:

|                                                |     |   |       2024 |     |   |       2023 |
|:-----------------------------------------------|:----|:--|-----------:|:----|:--|-----------:|
| United States                                  |     | $ | -9,000,663 |     | $ | -6,097,351 |
| International                                  |     |   |          — |     |   |          — |
| Total loss before income tax expense (benefit) |     | $ | -9,000,663 |     | $ | -6,097,351 |

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