Company: QTIWW
Filing Date: 2025-01-16
Form Type: S-1
Source: 0001628280-25-001723
Chunk: 367

Company: QT IMAGING HOLDINGS, INC.
Filing Date: 2025-01-16
Form: S-1
Chunk 367
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 |     | $    |      -0.14 |     | $    |             -0.77 |     | $    |      -0.48 |

The following securities were excluded from the calculation of net loss per share because the inclusion would be anti-dilutive as of September 30, 2024 and 2023:

|                                                              |     |     | September 30, 2024 |     |     | September 30, 2023 |
|:-------------------------------------------------------------|:----|:----|-------------------:|:----|:----|-------------------:|
| Common stock warrants (1)                                    |     |     |         23,889,364 |     |     |            401,389 |
| Potential shares from Pre-Paid Advance                       |     |     |         10,126,981 |     |     |                  — |
| Merger consideration earnout shares                          |     |     |          9,000,000 |     |     |                  — |
| Potential shares from Cable Car Loan                         |     |     |            750,000 |     |     |                  — |
| Potential shares from convertible notes (1)                  |     |     |            250,224 |     |     |            254,328 |
| Contingently issuable shares to GigCapital5 stockholders (1) |     |     |                  — |     |     |            260,419 |
| Options outstanding (1)                                      |     |     |          2,072,000 |     |     |          1,350,432 |
|                                                              |     |     |         46,088,569 |     |     |          2,266,568 |

__________________

(1) 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).

Fair Value of Financial Instruments

The fair value of the Company’s financial instruments, including cash equivalents, accounts receivable, prepaid expenses and other current assets, accounts payable, and accrued expenses and other current liabilities approximate their fair values because of the relatively short maturity of these instruments. The carrying value of the Company’s borrowings approximates fair value based on current rates offered to the Company for instruments with similar terms.

Recent Accounting Pronouncements Adopted

In August 202