Company: QTIWW
Filing Date: 2025-11-03
Form Type: S-1
Source: 0001628280-25-048373
Chunk: 406

Company: QT IMAGING HOLDINGS, INC.
Filing Date: 2025-11-03
Form: S-1
Chunk 406
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 |     |   |               7.0 | % |
| Risk-free rate                      |     |   |           3.9 | % |     |   |               4.2 | % |
| Risk premium                        |     |   |           3.1 | % |     |   |               2.7 | % |
| Cost of debt                        |     |   |          15.5 | % |     |   |              15.5 | % |
| Credit risk spread                  |     |   |          11.6 | % |     |   |              11.3 | % |
| Equity volatility                   |     |   |         110.0 | % |     |   |             120.0 | % |

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

#### QT IMAGING HOLDINGS, INC.

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

The activity for the fair value of the earnout liability for the three and six months ended June 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 30, 2025      |     | $                 |  280,000 |        |

Derivative Liability

In March 2024 , the Company recorded a derivative liability related to th e Pre-Paid Advance issued on March 4, 2024 pursuant to the SEPA, dated November 15, 2023 , between QT Imaging and Yorkville. The Pre-Paid Advance contained the following derivative features (“Derivatives”) as defined in the SEPA that were recognized at fair value:

• Monthly Payment Premium: if, any time after the Issuance Date, and from time to time thereafter, a Trigger Event occurs, then the Company shall make monthly payments of Triggered Principal Amount, Payment Premium and accrued and unpaid interest.

• Monthly Payment Discount: