Company: QTIWW
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001844505-25-000053
Chunk: 24

Company: QT IMAGING HOLDINGS, INC.
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 1
Chunk 24
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Item 1. Financial Statements

Table of ContentsQT IMAGING HOLDINGS, INC.Condensed Consolidated Balance Sheets(Unaudited)

 March 31, 2025December 31, 2024ASSETSCurrent assets:Cash$2,987,503 $1,172,104 Restricted cash and cash equivalents20,000 20,000 Accounts receivable2,782,404 67,119 Inventory2,872,401 3,140,719 Prepaid expenses and other current assets1,151,818 516,552 Total current assets9,814,126 4,916,494 Property and equipment, net163,759 195,783 Operating lease right-of-use assets, net847,643 935,246 Other assets39,150 39,150 Total assets$10,864,678 $6,086,673 LIABILITIES AND STOCKHOLDERS’ DEFICITCurrent liabilities:Accounts payable$869,579 $803,286 Accrued expenses and other current liabilities3,887,920 3,549,954 Current maturities of long-term debt63,180 4,985,833 Deferred revenue44,643 49,365 Operating lease liabilities, current417,379 405,678 Total current liabilities5,282,701 9,794,116 Long-term debt697 9,197 Related party notes payable3,848,725 3,848,725 Operating lease liabilities548,874 656,955 Warrant liability20,215,569 22,234 Derivative liability— 303,300 Earnout liability490,000 440,000 Other liabilities685,470 550,430 Total liabilities31,072,036 15,624,957 Contingencies (Note 9)Stockholders’ deficit:Preferred stock, $0.0001 par value; 10,000,000 shares authorized; no shares issued and outstanding— — Common stock, $0.0001 par value; 500,000,000 shares authorized as of March 31, 2025 and December 31, 2024; 27,653,210 and 26,768,210 shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively2,765 2,676 Additional paid-in capital