Company: QTIWW
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001844505-25-000083
Chunk: 80

Company: QT IMAGING HOLDINGS, INC.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 80
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$3,076,198 $3,381,631 110 %Cost of revenue2,818,890 1,441,567 1,377,323 96 %Gross profit3,638,939 1,634,631 2,004,308 123 %Operating expenses:Research and development1,752,946 1,567,628 185,318 12 %Selling, general and administrative3,970,703 7,865,752 (3,895,049)(50)%Total operating expenses5,723,649 9,433,380 (3,709,731)(39)%Loss from operations(2,084,710)(7,798,749)5,714,039 73 %Other expense, net(8,739,955)(208,325)(8,531,630)N.M.Change in fair value of warrant liability(3,501,079)190,819 (3,691,898)N.M.Change in fair value of derivative liability101,300 4,712,800 (4,611,500)(98)%Change in fair value of earnout liability160,000 2,920,000 (2,760,000)(95)%Interest expense, net(1,070,289)(1,694,009)623,720 37 %Loss before income tax expense(15,134,733)(1,877,464)13,257,269 706 %Income tax expense2,782 — 2,782 100 %Net loss and comprehensive loss$(15,137,515)$(1,877,464)$(13,260,051)(706)%

N.M. - Not meaningful

Revenue

Revenue increased by $3,381,631 to $6,457,829 for the six months ended June 30, 2025 from $3,076,198 for the six months ended June 30, 2024. The increase in revenue was primarily attributable to the sale of fourteen QT Breast Scanners in the first six months of 2025 as compared with seven scanners sold in the first six months of 2024 due to the MOQs in accordance with the amended NXC Distribution Agreement, which was executed during the fourth quarter of 2024.

Cost of Revenue

Cost of revenue increased by $1,377,323 to $2,818,890 for