Company: QTIWW
Filing Date: 2025-12-29
Form Type: S-1/A
Source: 0001628280-25-058960
Chunk: 409

Company: QT IMAGING HOLDINGS, INC.
Filing Date: 2025-12-29
Form: S-1/A
Chunk 409
---
2025 and December 31, 2024 were as follows:

<div align='center'>F-64</div>

#### QT IMAGING HOLDINGS, INC.

### Notes to Condensed Consolidated Financial Statements
<div align='center'>(Unaudited)</div>

|                                     |     |   | September 30, 2025 |   |     |   | December 31, 2024 |   |
|:------------------------------------|:----|:--|-------------------:|:--|:----|:--|------------------:|:--|
| Fair value of common stock          |     | $ |               7.11 |   |     | $ |              1.47 |   |
| Volatility of revenue               |     |   |               23.0 | % |     |   |              23.0 | % |
| Discount rate applicable to revenue |     |   |                7.0 | % |     |   |               7.0 | % |
| Risk-free rate                      |     |   |                3.7 | % |     |   |               4.2 | % |
| Risk premium                        |     |   |                3.3 | % |     |   |               2.7 | % |
| Cost of debt                        |     |   |               15.5 | % |     |   |              15.5 | % |
| Credit risk spread                  |     |   |               11.8 | % |     |   |              11.3 | % |
| Equity volatility                   |     |   |              105.0 | % |     |   |             120.0 | % |

The activity for the fair value of the earnout liability for the three and nine months ended September 30, 2025 were as follows:

|                                    |     | Earnout Liability |           |        |
|:-----------------------------------|:----|:------------------|----------:|-------:|
| Beginning balance, January 1, 2025 |     | $                 |   440,000 |        |
| Change in fair value               |     |                   |           | 50,000 |
| Ending balance, March 31, 2025     |     |                   |   490,000 |        |
| Change in fair value               |     |                   |  -210,000 |        |
| Ending balance, June