Company: QTIWW
Filing Date: 2025-08-07
Form Type: DEFA14A
Source: 0001844505-25-000081
Chunk: 2

Company: QT IMAGING HOLDINGS, INC.
Filing Date: 2025-08-07
Form: DEFA14A
Chunk 2
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 a substantial reduction in the QTscan™ image processing time, improving user throughput and overall efficiency. The software update was developed leveraging NVIDIA’s L40 GPU, powered by the Ada Lovelace architecture.

• Bolstered QTI’s medical and clinical leadership with the appointments of Elaine Iuanow, MD, as Chief Medical Officer and Kim Du as Senior Director of Clinical Operations.

• Launched the latest QTviewer™, version 2.8, which provides several new features designed to enhance clinical efficiency and diagnostic accuracy.

• Today, the Company is pleased to publicly unveil for the first time its ongoing strategic initiative to build the QTI Cloud Platform, designed to transform breast health through imaging intelligence. Utilizing a tiered Software as a Service (SaaS) delivery model, the QTI Cloud Platform will provide subscribers with access to a large and growing portfolio of AI-driven tools that automate findings classification and deliver consistent second-read decision support. Importantly, subscription fees generated by the QTI Cloud Platform are also expected to provide a meaningful new source of recurring revenues for the Company.

#### Summary of Second Quarter 2025 Financial Results
• Revenue was $3.7 million for the second quarter of 2025, representing 113% year-over-year growth and 31% sequential quarter-over-quarter growth. The year-over-year increase in revenue was primarily attributable to the shipment of eight QT Breast Acoustic CT™ scanners during the second quarter of 2025, as per minimum order quantities (“MOQs”) in the Company’s Distribution Agreement with NXC Imaging, as compared to four scanners sold in the second quarter of 2024. In addition, the Company has shipped two more scanners during the month of July 2025, in agreement with its distribution partner.

• Gross margin of 50% in the second quarter of 2025 compared to 51% in the second quarter of 2024. The slight decline in gross margin in the second quarter of 2025 was primarily attributable to variability in the weighted average cost related to the Company’s existing inventory during the quarter.

• Total operating expenses for the second quarter of 2025 were $2.9 million, a 7% improvement from $3.1 million in the same period of 2024.

• Net loss of $4.0 million for the second quarter of 2025, which includes a $2.8 million change in the fair value of warrant liability, $0.2 million change in the fair value of earnout liability, and interest expenses of $