Company: QTIWW
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001628280-25-051332
Chunk: 23

Company: QT IMAGING HOLDINGS, INC.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 23
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 (1)967 892 Additional paid-in capital (1)42,558,037 22,401,351 Accumulated deficit(51,635,448)(31,940,527)Total stockholders’ deficit(9,076,444)(9,538,284)Total liabilities and stockholders’ deficit$12,120,941 $6,086,673 

(1)    Share amounts as of December 31, 2024 differ from those published in prior consolidated financial statements as they were retrospectively adjusted as a result of the Reverse Stock Split (as described below in Note 1, The Company and Summary of Significant Accounting Policies). Specifically, the number of shares of common stock outstanding during periods before the Reverse Stock Split are divided by the exchange ratio of 3:1, such that each three shares of common stock were combined and reconstituted into one share of common stock effective October 23, 2025.

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

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

Three Months EndedSeptember 30,Nine Months EndedSeptember 30, 2025202420252024Revenue$4,192,101 $955,970 $10,649,930 $4,032,168 Cost of revenue2,389,428 350,667 5,208,318 1,792,234 Gross profit1,802,673 605,303 5,441,612 2,239,934 Operating expenses:Research and development938,758 925,214 2,691,704 2,492,842 Selling, general and administrative2,515,994 2,007,277 6,486,697 9,873,029 Total operating expenses3,454,752 2,932,491 9,178,401 12,365,871 Loss from operations(1,652,079)(2,327,188)(3,736,789)(10,125,937)Other income (expense), net(30,559)16,995 (8,770,514)(191,330)Change in fair value of warrant liability(80,043)8,805 (3,581,122)199,624 Change in fair value of derivative liability— 87,