Company: QTIWW
Filing Date: 2025-01-31
Form Type: S-1/A
Source: 0001628280-25-003316
Chunk: 347

Company: QT IMAGING HOLDINGS, INC.
Filing Date: 2025-01-31
Form: S-1/A
Chunk 347
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 on an annual and interim basis. This ASU is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, and requires retrospective application to all prior periods presented in the financial statements. Early adoption is permitted. The Company is currently evaluating the impact of the new standard on the consolidated financial statements.

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. This ASU is intended to improve the transparency of income tax disclosures by requiring (1) consistent categories and greater disaggregation of information in the rate reconciliation and (2) income taxes paid disaggregated by jurisdiction. It also includes certain other amendments to improve the effectiveness of income tax disclosures. The ASU’s amendments are effective for public business entities for annual periods beginning after December 15, 2024. Entities are permitted to early adopt the standard for “annual financial statements that have not yet been issued or made available for issuance.” Adoption is either prospectively or retrospectively, the Company will adopt this ASU on a prospective basis. The Company is currently evaluating the impact of the new standard on the consolidated financial statements and related disclosures.

#### 2.

#### Inventory
Inventory consisted of the following as of December 31:

|                 |     |   |      2023 |     |   |      2022 |
|:----------------|:----|:--|----------:|:----|:--|----------:|
| Raw materials   |     | $ | 2,529,364 |     | $ | 2,567,311 |
| Work in process |     |   | 1,627,802 |     |   | 1,683,341 |
| Finished Goods  |     |   |   261,031 |     |   |   528,254 |
| Total           |     | $ | 4,418,197 |     | $ | 4,778,906 |

#### 3.

#### Property and Equipment, Net
Property and equipment, net consisted of the following as of December 31:

|                                |     |           | Useful Life |   |       2023 |     |   |       2022 |
|:-------------------------------|:----|:----------|:------------|:--|-----------:|:----|:--|-----------:|
| Scanners                       |     |