Company: QTIWW
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001628280-25-051332
Chunk: 27

Company: QT IMAGING HOLDINGS, INC.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 27
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500 Issuance of common stock to settle transaction expenses (1)514,735 52 5,439,805 — 5,439,857 Stock-based compensation— — 166,187 — 166,187 Deemed dividend related to modification of equity classified warrants— — 5,185,502 (5,185,502)— Net loss— — — (5,496,958)(5,496,958)Balance, September 30, 2024 (1)7,155,505$716 $18,800,229 $(28,452,605)$(9,651,660)

(1)    Share amounts as of July 1, 2025 and prior to that date differ from those published in prior condensed consolidated financial statements as they were retrospectively adjusted as a result of the Reverse Stock Split (as described below in Note 1, The Company and Summary of Significant Accounting Policies). Specifically, the number of shares of common stock outstanding during periods before the Reverse Stock Split are divided by the exchange ratio of 3:1, such that each three shares of common stock were combined and reconstituted into one share of common stock effective October 23, 2025.

(2)     Amounts as of December 31, 2023 and before that date differ from those in prior year consolidated financial statements as they were retrospectively adjusted as a result of the accounting or the Business Combination (as defined in the Notes to Condensed Consolidated Financial Statements).

The accompanying notes are an integral part of these condensed consolidated financial statements.5

Table of ContentsQT IMAGING HOLDINGS, INC.Condensed Consolidated Statements of Cash Flows(Unaudited)

Nine Months EndedSeptember 30, 20252024Cash flows from operating activities:Net loss$(19,694,921)$(5,496,958)Adjustments to reconcile net loss to net cash used in operating activities:Depreciation and amortization115,474 204,283 Stock-based compensation518,721 166,187 Warrant modification expense— 200,513 Loss on issuance of the Lynrock Lake Term Loan6,640,384 — Debt extinguishment loss2,080,053 — Debt modification expense90,000 — Provision for credit losses— 1,290 Fair value of common stock issued in exchange for services and in connection with non