QT IMAGING HOLDINGS, INC.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $18.9M | $4.9M | $40,355 | $0 | — |
| Cost of revenue | $10.3M | $2.2M | $134,988 | — | — |
| Gross profit | $8.6M | $2.6M | -$94,633 | — | — |
| Selling, general & administrative | $9.1M | $11.6M | $3.4M | — | — |
| Research and development | $3.9M | $3.3M | $1.5M | — | — |
| Operating expenses | $13.0M | $14.8M | $4.9M | — | — |
| Operating income | -$4.4M | -$12.2M | -$5.0M | -$4.3M | -$1.1M |
| Interest expense | — | — | $219,686 | $23,098 | — |
| Pretax income | -$21.1M | -$9.0M | -$6.1M | -$2.3M | -$1.1M |
| Income tax expense | -$1,000 | -$16,000 | $1,600 | $486,615 | $1,783 |
| Net income | -$21.1M | -$9.0M | -$6.1M | -$2.8M | -$1.1M |
| Balance Sheet | |||||
| Cash and equivalents | $10.4M | $1.2M | — | — | — |
| Current assets | $22.1M | $4.9M | $4.8M | $250,704 | $1.2M |
| Total assets | $23.0M | $6.1M | $6.7M | $41.9M | $233.6M |
| Current liabilities | $7.9M | $9.8M | $7.3M | $4.2M | $633,641 |
| Total liabilities | $16.6M | $15.6M | $12.0M | $13.4M | $10.2M |
| Stockholders' equity | $6.4M | -$9.5M | -$5.3M | -$13.1M | -$8.9M |
| Cash Flow Statement | |||||
| Cash from operations | -$9.0M | -$10.0M | -$2.7M | -$1.3M | -$1.4M |
| Depreciation and amortization | $131,000 | $231,000 | $480,694 | — | — |
| Stock-based compensation | $801,000 | $290,000 | $709,394 | — | $95,200 |
| Capital expenditure | $124,000 | $88,000 | $13,040 | — | — |
| Free cash flow | -$9.1M | -$10.1M | -$2.7M | — | — |
| Share repurchases | $5.0M | — | — | — | — |
| Impairments | $0 | $0 | $0 | — | — |
Shares outstanding 12.0M
Annual filing data through FY ended December 31, 2025; float as of July 16, 2026.