Company: QTIWW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001844505-25-000038
Chunk: 235

Company: QT IMAGING HOLDINGS, INC.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 7
Chunk 235
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 a commercial infrastructure to support commercialization of our products and product candidates, increased support for existing and new distribution partner relationships, and the use of outside service providers such as insurers, consultants, lawyers, and accountants. We also expect selling expenses to increase in the near term as we promote our brand through marketing and advertising initiatives, expand market presence and hire additional personnel to drive penetration and generate leads. 

Results of Operations 

Comparison of the years ended December 31, 2024 and 2023

Year EndedDecember 31,Change20242023$%Revenue$4,878,665 $40,355 $4,838,310 N.M.Cost of revenue2,238,820 134,988 2,103,832 N.M.Gross profit (loss)2,639,845 (94,633)2,734,478 N.M.Operating expenses:Research and development3,267,340 1,485,636 1,781,704 120 %Selling, general and administrative11,549,512 3,427,690 8,121,822 237 %Total operating expenses14,816,852 4,913,326 9,903,526 202 %Loss from operations(12,177,007)(5,007,959)(7,169,048)(143)%Other expense, net(560,648)(544,566)(16,082)(3)%Change in fair value of warrant liability187,173 — 187,173 100 %Change in fair value of derivative liability4,817,600 — 4,817,600 100 %Change in fair value of earnout liability3,230,000 — 3,230,000 100 %Interest expense, net(4,497,781)(544,826)(3,952,955)(726)%Loss before income tax expense (benefit)(9,000,663)(6,097,351)(2,903,312)(48)%Income tax expense (benefit)(15,783)1,600 (17,383)N.M.Net loss and comprehensive loss$(8,984,880)$(6,098,951)$(2,885,929)(47)%

107

N.M. - Not meaningful

Revenue

Revenue increased by $4,838,310 to $4,878,665 for the year ended December 31,