Company: QTIWW
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001628280-25-051332
Chunk: 191

Company: QT IMAGING HOLDINGS, INC.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 2
Chunk 191
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 2024 consisted of a net loss of $5,496,958, adjusted for non-cash expenses including depreciation and amortization of $204,283, stock-based compensation of $166,187, warrant modification expense of $200,513, fair value of common stock issued in exchange for services and in connection with non-redemption agreements of $3,718,349, a loss of $206,000 related to issuance of common stock in connection with a stock subscription agreement, non-cash interest of $2,404,031, non-cash operating lease income of $20,652, decrease in fair value of warrant liability of $199,624, decrease in fair value of derivative liability of $4,800,000, decrease in fair value of earnout liability of $2,970,000, and a $2,219,821 decrease from net changes in operating assets and liabilities. The net change in operating assets and liabilities was primarily due to an increase in accounts receivable of $256,886, an increase in prepaid expenses and other current assets of $459,804, a decrease in accounts payable of $2,061,853, a decrease in accrued expenses and other liabilities of $768,614, and a decrease in deferred revenue of $327,778, partially offset by a decrease in inventory of $1,525,857, and an increase in other liabilities of $129,257. 

Net Cash Used In Investing Activities

Net cash used in investing activities was $46,818 for the nine months ended September 30, 2025 as compared to $34,590 for the nine months ended September 30, 2024. The use of net cash used in investing activities for both periods was related to the purchase of property and equipment.

Net Cash Provided By Financing Activities

During the nine months ended September 30, 2025, net cash provided by financing activities was $6,447,686 primarily due to $15,000,000 of net proceeds received from issuance of long-term debt related to the Lynrock Lake Term Loan, net proceeds from the sale of common stock and warrants of $679,241, proceeds from warrant exercises of $531,622, and proceeds from stock option exercises of $74,839, partially offset by the repayment of long-term debt of $4,688,016 related to the Yorkville Note, Cable Car Note, warrant repurchase payment of $5,000,000 to Yorkville, and payment of $150,000 for deferred