QT Imaging Holdings, Inc. 8-K Filings

QT Imaging Holdings, Inc. outlined strong mid‑year 2026 progress built around its radiation‑free Breast Acoustic CT imaging platform. In the first half of 2026, the company generated $14.0 million in revenue, up 116% year over year, and shipped 28 scanners. Annual revenue was $4.9 million in 2024 and $18.9 million in 2025, with 2026 revenue guidance of approximately $39 million. More than 12,000 women have been imaged on the platform to date.

QT Imaging completed a $10 million underwritten public offering, extended its senior secured term loan maturity to March 31, 2029, and reported $14.2 million in cash and restricted cash as of August 7, 2026. The company regained listing on the Nasdaq Capital Market and was added to the Russell Microcap Index. Two new FDA clearances expanded system capabilities, and a first routine FDA inspection concluded with zero Form 483 observations. Internationally, QT Imaging obtained regulatory authorizations in Saudi Arabia, the United Arab Emirates, and Israel, and secured a dedicated Category III CPT code for 3D quantitative transmission volumetric breast ultrasound, effective January 1, 2027. The company is relocating to a 22,000‑square‑foot Petaluma facility, more than 2.5x current space with roughly 55% lower lease cost per square foot, to support manufacturing scale and long‑term growth.

QT Imaging Holdings, Inc. reported rapid top-line growth while remaining loss-making for the quarter ended June 30, 2026. Revenue for the second quarter was $7.4 million, up 103% from $3.7 million a year earlier, driven by shipments of fifteen Breast Acoustic CT scanners versus eight in the prior-year quarter. First-half revenue was $14.0 million, up 116% from $6.5 million.

Gross margin was 41%, down from 50% a year ago, reflecting mix and inventory cost dynamics. Total operating expenses rose to $4.9 million from $2.9 million, mainly from higher compensation, professional services, and marketing, resulting in an operating loss of $1.9 million versus a $1.0 million loss last year. A largely non-cash $8.3 million loss on debt extinguishment and modification related to the Lynrock Lake term loan drove total interest and other expense to $9.2 million and pushed net loss to $11.1 million, or $0.75 per share.

Non-GAAP adjusted EBITDA was –$1.2 million. Net cash used in operating activities for the quarter was $4.8 million. QT Imaging strengthened liquidity via an underwritten public offering generating approximately $10.0 million in gross proceeds and extended the maturity of its senior secured term loan from March 2027 to March 2029. Cash and restricted cash totaled $11.0 million as of June 30, 2026 and $14.2 million as of August 7, 2026. The company reaffirmed its 2026 revenue guidance of approximately $39 million and highlighted regulatory wins, expanded manufacturing capacity, and a clean first routine FDA inspection with zero Form 483 observations.

QT Imaging Holdings, Inc. reported the results of its 2026 Annual Meeting of Stockholders held on July 28, 2026. Of the 13,768,903 shares of common stock outstanding and entitled to vote, 8,698,769 shares were represented, constituting a quorum.

Stockholders elected Professor Zeev Weiner and Bryan Timm as Class II directors to serve until the 2029 Annual Meeting. They also ratified BPM LLP as independent registered public accounting firm for the fiscal year ending December 31, 2026 and approved an amendment to the 2024 Equity Incentive Plan to increase shares authorized and reserved for issuance.

QT Imaging Holdings, Inc. completed an underwritten public offering of 1,200,000 common shares and 800,000 pre-funded warrants for gross proceeds of $10 million, generating estimated net proceeds of about $9 million. The common shares were priced at $5.00 per share and the pre-funded warrants at $4.9999 each, with a nominal exercise price of $0.0001 per warrant share. All securities were sold by the company under an effective Form S-3 shelf registration, and the deal closed on May 18, 2026. The company plans to use the funds for working capital and general corporate purposes. Officers, directors and certain stockholders agreed to 90-day lock-ups, while the company agreed to 60-day restrictions on new equity issuance and a 180-day ban on variable rate transactions, subject to specified exceptions.

QT Imaging Holdings reported strong first quarter 2026 growth, with revenue of $6.5 million, up 133% from $2.8 million a year earlier, driven by shipments of 13 Breast Acoustic CT scanners versus six in the prior-year period.

Gross margin was 41% compared with 65%, reflecting mix effects, while operating expenses rose to $5.0 million from $2.9 million, leading to a net loss of $3.4 million, a notable improvement from $11.1 million. Cash, restricted cash, and cash equivalents were $7.0 million as of March 31, 2026.

The company extended the maturity of its senior secured term loan to March 31, 2029 and increased the interest rate to 12.0% per annum. It also secured a dedicated Category III CPT code effective January 1, 2027, obtained FDA 510(k) clearance for scanner enhancements, and reaffirmed 2026 revenue guidance of approximately $39 million supported by minimum order commitments and a multiyear UAE distribution agreement totaling more than $24 million in scanner revenue.

QT Imaging Holdings, Inc. updated compensation for its top executives. The Board increased Chief Executive Officer Dr. Raluca Dinu’s annual base salary from $550,000 to $605,000, effective March 20, 2026, and approved a cash bonus of $231,993 for her.

Chief Financial Officer Jay Jennings received a cash bonus of $40,576. The Board also granted Dr. Dinu a total of 519,500 restricted stock units (RSUs), split into grants of 3,500, 16,000 and 500,000 RSUs, vesting in scheduled installments from May 15, 2026 through February 15, 2030, contingent on continued service.

Mr. Jennings received a grant of 2,800 RSUs, with 933 RSUs vesting on May 15, 2027 and the remaining 1,867 RSUs vesting in eight quarterly installments through May 15, 2029, also subject to his continued service with the company.

QT Imaging Holdings reported strong growth for 2025, with revenue of $18.9 million, up from $4.9 million in 2024, driven by shipping a record 40 Breast Acoustic CT scanners. Fourth quarter 2025 revenue was $8.3 million, reflecting 877% year-over-year growth and 97% sequential growth.

Despite this expansion, the company recorded a 2025 net loss of $21.1 million, or $2.01 per share, largely influenced by $8.8 million of other expense tied to debt-related non-cash items and fair value changes. Non-GAAP adjusted EBITDA improved to $(3.5) million from $(7.4) million, showing better underlying performance.

QT Imaging ended 2025 with $10.5 million in cash, restricted cash, and cash equivalents and positive stockholders’ equity of $6.4 million. For 2026, it affirmed revenue guidance of approximately $39 million, more than double 2025, supported by contracted scanner minimum order quantities and initial QTI Cloud Platform revenue.

QT Imaging Holdings, Inc. released an investor presentation highlighting rapid commercial growth for its breast imaging platform and updated financials. Revenue reached $18.9 million in 2025, up from $4.9 million in 2024, driven by shipment of 40 QT Breast Acoustic CT scanners under distribution agreements.

Q4 2025 revenue was $8.3 million, an 877% year-over-year increase, with 38% gross margin and a net loss of $1.4 million. Adjusted EBITDA improved to $(0.4) million from $(1.9) million a year earlier. The company ended 2025 with $10.5 million in cash after an oversubscribed $18.2 million private placement and new debt financing, and it expects approximately $39 million of revenue in 2026, including initial SaaS cloud platform contributions.

QT Imaging Holdings, Inc. reported preliminary unaudited results showing record revenue of $8.3 million in Q4 2025 and $18.9 million for full-year 2025, exceeding its $18 million outlook. Q4 revenue rose 877% year over year and 97% sequentially, driven by shipment of 17 Breast Acoustic CT™ scanners.

For 2025, revenue grew 288% versus 2024, with 40 scanners shipped. Gross margin was 45% for the year and 38% in Q4. Despite this growth, the company recorded a 2025 net loss of $21.1 million, influenced by $8.8 million of other expense tied to term loan issuance, note extinguishments and fair value changes.

Non-GAAP Adjusted EBITDA improved to $(3.5) million from $(7.4) million in 2024, while net cash used in operating activities narrowed to $9.0 million. Cash, restricted cash and equivalents reached $10.5 million at year-end 2025 after an $18.2 million private placement and new debt financings. The company relisted on Nasdaq and is pivoting from pure hardware to a SaaS and biomarker-driven imaging platform, and it projects 2026 revenue of about $39 million, including initial SaaS Cloud Platform contributions.

QT Imaging Holdings, Inc. filed an 8-K to furnish its audited consolidated financial statements for 2024 and 2023, updated to reflect a 3‑for‑1 reverse stock split effective October 23, 2025. The audit received an unqualified opinion under U.S. GAAP.

For 2024, revenue rose sharply to $4.88 million from $0.04 million in 2023, driven mainly by product sales. Despite this, the company reported a net loss of $8.98 million and a net loss attributable to common stockholders of $14.17 million, or $(2.13) per share. At year-end 2024, QT Imaging held $1.19 million in cash and restricted cash, total assets of $6.09 million, total liabilities of $15.62 million, and a stockholders’ deficit of $(9.54 million).

The notes describe the March 4, 2024 business combination with GigCapital5, significant use of convertible and structured financing, concentration of revenue in a few customers, and subsequent capital arrangements and distribution agreements that management believes will fund the operating plan for at least the next 12 months.

QT Imaging Holdings, Inc. filed an amended current report to add the full agreements related to its Chief Financial Officer’s resignation. On August 22, 2025, Anastas Budagov informed the board he would resign as CFO effective August 29, 2025. He was not contractually entitled to severance, but the parties entered into a Separation and Release Agreement under which he will receive $150,000 in lieu of severance in exchange for a release of all claims against the company.

The company and Mr. Budagov also signed a Consulting Agreement. From August 29, 2025 through November 15, 2025, he will serve as an advisor at an hourly rate of $180, payable monthly, with an aggregate cap of $20,000 that the company can change with prior written notice. He is generally not expected to work more than ten hours per week unless adjusted. His outstanding stock options will continue to vest under their existing terms during the consulting period.

QT Imaging Holdings, Inc. reported that its Board of Directors approved higher compensation for Chief Executive Officer Dr. Raluca Dinu. Effective September 1, 2025, her base salary increases from $470,000 to $550,000 per year. Her target annual bonus also rises from 65% of salary to 75% of salary, reflecting updated terms of her executive pay package.

QT Imaging Holdings, Inc. disclosed the appointment of Michael Jennings as Chief Financial Officer with a CFO employment agreement that provides, if terminated without a Change of Control and upon an effective release of claims, nine months of his then-current base salary paid monthly, continuation of company-paid health coverage for up to nine months (or until he begins comparable full-time coverage), and immediate vesting of equity awards through the next scheduled vesting date. Mr. Jennings, age 58, is a CPA with senior finance experience at UpHealth and eHealth and has led finance, SEC reporting, and large system implementations.

The company also announced a Warrant Repurchase Agreement providing $5.0 million in new funding to repurchase and cancel Yorkville warrants, as disclosed in press releases attached as exhibits.

QT Imaging Holdings, Inc. entered into a three-year exclusive distribution agreement with Gulf Medical Co. covering sales of its QT Breast Acoustic CT Scanners and QTI Cloud Platform SaaS subscriptions in Saudi Arabia. The deal runs from August 21, 2025 through August 21, 2028 and can be extended for one year if Gulf Medical meets defined minimum purchase and revenue requirements. If these minimums are not met, QT Imaging may either terminate exclusivity while continuing non-exclusive supply or terminate the agreement. Gulf Medical is responsible for local regulatory approvals, shipping-related costs, and taxes in Saudi Arabia, while QT Imaging provides training, professional services, warranty coverage of at least one year and up to five years, and retains all intellectual property rights.

QT Imaging Holdings, Inc. reported the results of its 2025 Annual Meeting of Stockholders held on August 19, 2025. Stockholders representing 20,846,542 of the 28,710,144 shares of common stock entitled to vote were present, establishing a quorum. Two Class I directors, Daniel Dickson and James Greene, were elected, receiving 17,768,717 and 17,798,921 votes “for,” respectively. Stockholders also ratified BPM LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2025, with 20,677,932 votes “for.” In addition, stockholders approved an amendment to the Second Amended and Restated Certificate of Incorporation to authorize a reverse stock split at a ratio between 2:1 and 20:1, to be fixed by the Board, with 19,621,693 votes “for.”