Company: QTIWW
Filing Date: 2025-12-29
Form Type: S-1/A
Source: 0001628280-25-058960
Chunk: 152

Company: QT IMAGING HOLDINGS, INC.
Filing Date: 2025-12-29
Form: S-1/A
Chunk 152
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 increase in cash and restricted cash and cash equivalents |     | $                 |    543,296 |     | $ |  1,379,483 |

#### Net Cash Used In Operating Activities
Net cash used in operating activities was $5,857,572 for the nine months ended September 30, 2025 as compared to $8,806,402 for the nine months ended September 30, 2024. The primary use of our cash was to fund research and development and general and administrative expenses. Net cash used for the nine months ended September 30, 2025 consisted of a net loss of $19,694,921, adjusted for non-cash expenses primarily including depreciation and amortization of $115,474, stock-based compensation of $518,721, loss on issuance of the Lynrock Lake Term Loan of $6,640,384, debt extinguishment loss of $2,080,053, debt modification expense of $90,000, non-cash interest of $749,097, non-cash operating lease income of $31,012, increase in fair value of warrant liability of $3,581,122, decrease in fair value of derivative liability of $101,300, increase in fair value of earnout liability of $2,070,000, and a net decrease of $1,875,190 from changes in operating assets and liabilities. The net change in operating assets and liabilities was primarily due an increase in accounts receivable of $3,176,587, an increase in prepaid expenses and other current assets of $298,286, and an increase in inventory of $2,101,508, partially offset primarily by an increase in accrued expenses and other current liabilities of $1,856,098, an increase in accounts payable of $1,071,550, and an increase in other liabilities of $798,979.

Net cash used for the nine months ended September 30, 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