Company: QTIWW
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001844505-25-000083
Chunk: 65

Company: QT IMAGING HOLDINGS, INC.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 65
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 is interest-free and originally matured on the earlier of (i) the date on which the Company consummated the Business Combination with GigCapital5; (ii) the date the Company winds up; or (iii) December 31, 2023. The Working Capital Note may be prepaid without penalty. On March 4, 2024, the holder of the Working Capital Note agreed to extend and subordinate the promissory note pursuant to and in accordance with the terms of the Business Combination Agreement. Effective on the Closing of the Business Combination, the Working Capital Note cannot be repaid prior to the repayment or conversion of the Yorkville Note received from Yorkville (see Note 7). In connection with the issuance of the Lynrock Lake Term Loan, on February 26, 2025, the maturity date on the Working Capital Note was extended to October 1, 2027.Private PlacementOn April 24, 2025, the Company completed the April 2025 Securities Purchase Agreement for net proceeds of $500,000 in exchange for a total of 784,929 shares of the Company’s common stock and warrants to purchase 1,569,858 shares of common stock that are issuable upon exercise. See Note 10 - Stockholders’ Deficit.

15.     Segment Information

The Company has one operating and reportable segment, which is engaged in the development and commercialization of the Company’s QT Breast Scanner. The Company’s Chief Executive Officer has been determined to be the chief operating decision maker (“CODM”) in accordance with the authoritative guidance on segment reporting. The CODM assesses performance, makes operating decisions and decides how to allocate resources based on net loss that is reported on the consolidated statements of operations and comprehensive loss. The measure of segment assets is reported on the condensed consolidated balance sheets as total consolidated assets.The following table presents information about reported segment revenue, significant segment expenses, and segment net loss for the three and six months ended June 30, 2025 and 2024: Three Months EndedJune 30,Six Months EndedJune 30, 2025202420252024Revenue$3,659,414 $1,714,035 $6,457,829 $3,076,198 Less:Cost of revenue11,832,337 839,484 2,818,890 1,441,567 Research and development1900,694 925,082 1,752,946 1,567,628 S