Company: QTIWW
Filing Date: 2025-12-31
Form Type: 424B3
Source: 0001628280-25-059235
Chunk: 346

Company: QT IMAGING HOLDINGS, INC.
Filing Date: 2025-12-31
Form: 424B3
Chunk 346
---
 of the earnout liability as of issuance on March 4, 2024 and as of December 31, 2024 were as follows:

|                                     |     |   | March 4, 2024 |   |     |   | December 31, 2024 |   |
|:------------------------------------|:----|:--|--------------:|:--|:----|:--|------------------:|:--|
| Fair value of common stock          |     | $ |         10.59 |   |     | $ |              1.47 |   |
| Volatility of revenue               |     |   |          26.0 | % |     |   |              23.0 | % |
| Discount rate applicable to revenue |     |   |           7.0 | % |     |   |               7.0 | % |
| Risk-free rate                      |     |   |           4.5 | % |     |   |               4.2 | % |
| Risk premium                        |     |   |           2.5 | % |     |   |               2.7 | % |
| Cost of debt                        |     |   |          15.5 | % |     |   |              15.5 | % |
| Credit risk spread                  |     |   |          11.0 | % |     |   |              11.3 | % |
| Equity volatility                   |     |   |         130.0 | % |     |   |             120.0 | % |

<div align='center'>F-24</div>

#### QT IMAGING HOLDINGS, INC.

### Notes to Consolidated Financial Statements
The activity for the fair value of the earnout liability for the year ended December 31, 2024 was as follows:

| Beginning balance, January 1, 2024 |     | Earnout Liability |          — |           |
|:-----------------------------------|:----|:------------------|-----------:|----------:|
| Fair value at issuance             |     |                   |            | 3,670,000 |
| Change in fair value               |     |                   | -3,230,000 |           |
| Ending balance, December 31, 2024  |     | $                 |    440,000 |           |

#### Derivative Liability
In March 2024 , the Company recorded a derivative liability related