Company: QTIWW
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001844505-25-000083
Chunk: 77

Company: QT IMAGING HOLDINGS, INC.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 77
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 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.

34

Results of Operations

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

Three Months EndedJune 30,Change 20252024$% Revenue$3,659,414 $1,714,035 $1,945,379 113 %Cost of revenue1,832,337 839,484 992,853 118 %Gross profit1,827,077 874,551 952,526 109 %Operating expenses:Research and development900,694 925,082 (24,388)(3)%Selling, general and administrative1,969,362 2,169,541 (200,179)(9)%Total operating expenses2,870,056 3,094,623 (224,567)(7)%Loss from operations(1,042,979)(2,220,072)1,177,093 53 %Other income (expense), net9,498 (187,394)196,892 105 %Change in fair value of warrant liability(2,796,350)213,942 (3,010,292)N.M.Change in fair value of derivative liability— 1,729,700 (1,729,700)(100)%Change in fair value of earnout liability210,000 310,000 (100,000)(32)%Interest expense, net(378,902)(1,095,050)716,148 65 %Loss before income tax expense(3,998,733)(1,248,874)(2,749,859)(220)%Income tax expense2,782 — 2,782 100 %Net loss and comprehensive loss$(4,001,515)$(1,248,874)$(2,752,641)(220)%

N.M. - Not meaningful

Revenue

Revenue increased by $1,945,379 to $3,659,414 for the three months ended June 30, 2025 from $1,714,035 for the three months ended June 30, 2024. The increase in revenue was primarily attributable to the sale of eight QT