Company: QTIWW
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001844505-25-000053
Chunk: 25

Company: QT IMAGING HOLDINGS, INC.
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 1
Chunk 25
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22,866,404 22,399,567 Accumulated deficit(43,076,527)(31,940,527)Total stockholders’ deficit(20,207,358)(9,538,284)Total liabilities and stockholders’ deficit$10,864,678 $6,086,673 

The accompanying notes are an integral part of these condensed consolidated financial statements.1

Table of ContentsQT IMAGING HOLDINGS, INC.Condensed Consolidated Statements of Operations and Comprehensive Loss(Unaudited)

Three Months EndedMarch 31, 20252024Revenue$2,798,415 $1,362,163 Cost of revenue986,553 602,083 Gross profit1,811,862 760,080 Operating expenses:Research and development852,252 642,546 Selling, general and administrative2,001,341 5,696,211 Total operating expenses2,853,593 6,338,757 Loss from operations(1,041,731)(5,578,677)Other expense, net(8,749,453)(20,931)Change in fair value of warrant liability(704,729)(23,123)Change in fair value of derivative liability101,300 2,983,100 Change in fair value of earnout liability(50,000)2,610,000 Interest expense, net(691,387)(598,959)Net loss and comprehensive loss$(11,136,000)$(628,590)Net loss per share - basic and diluted$(0.40)$(0.05)Weighted-average number of common shares used in computing net loss per common share27,515,54313,225,553

The accompanying notes are an integral part of these condensed consolidated financial statements.2

Table of ContentsQT IMAGING HOLDINGS, INC.Condensed Consolidated Statements of Stockholders’ DeficitFor the three months ended March 31, 2025 and 2024(Unaudited)

Common StockAdditionalPaid-inCapitalAccumulatedDeficitTotalSharesAmountBalance, January 1, 202526,768,210$2,676 $22,399,567 $(31,940,527)$(9,538,284)Conversion of long term debt into shares of common stock885,00089 366,121 — 366,210 Stock-based compensation—— 100,716 — 100,716