Company: QTIWW
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001628280-25-051332
Chunk: 179

Company: QT IMAGING HOLDINGS, INC.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 2
Chunk 179
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 to the probability of outcome related to our revenue assumptions.  

Interest expense, net

Interest expense, net decreased by $890,581 to $564,725 for the three months ended September 30, 2025 from $1,455,306 for the three months ended September 30, 2024. This decrease was primarily driven by decreases in interest expense and amortization of the debt discount of $1,301,603 for the Yorkville Note, which was extinguished in February 2025, partially offset by the interest expense and amortization of debt discount of $521,243 for the Lynrock Lake Term Loan.

Comparison of the nine months ended September 30, 2025 and 2024

For Nine Months Ended September 30,Change 20252024$% Revenue$10,649,930 $4,032,168 $6,617,762 164 %Cost of revenue5,208,318 1,792,234 3,416,084 191 %Gross profit5,441,612 2,239,934 3,201,678 143 %Operating expenses:Research and development2,691,704 2,492,842 198,862 8 %Selling, general and administrative6,486,697 9,873,029 (3,386,332)(34)%Total operating expenses9,178,401 12,365,871 (3,187,470)(26)%Loss from operations(3,736,789)(10,125,937)6,389,148 63 %Other expense, net(8,770,514)(191,330)(8,579,184)N.M.Change in fair value of warrant liability(3,581,122)199,624 (3,780,746)N.M.Change in fair value of derivative liability101,300 4,800,000 (4,698,700)(98)%Change in fair value of earnout liability(2,070,000)2,970,000 (5,040,000)(170)%Interest expense, net(1,635,014)(3,149,315)1,514,301 48 %Loss before income tax expense(19,692,139)(5,496,958)14,195,181 258 %Income tax expense2,782 — 2,782 100 %Net loss