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Stocks · Health care · Electromedical & Electrotherapeutic Apparatus

QT IMAGING HOLDINGS, INC.

QTI Clue Score58
United States Fiscal year ends December CIK 0001844505
$2.68 +3.08% Close, 9 Oct 2026
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Price $2.68 −61.71% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 28 Jan 2026. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2021Operating income−1.1Net income−1.1EPS, diluted−0.14Fiscal year 2022Revenue0.0Operating income−4.3Net income−2.8EPS, diluted−0.60Fiscal year 2023Revenue0.0Operating income−5.0Net income−6.1EPS, diluted−0.64Fiscal year 2024Revenue4.9 +11,990.2%Operating income−12.2Net income−9.0EPS, diluted−2.13Fiscal year 2025Revenue18.9 +287.9%Operating income−4.4Net income−21.1EPS, diluted−2.01
FY2021FY2022FY2023FY2024FY2025
Revenue n/a 0.0 0.0 4.9 18.9
Growth +11,990.2% +287.9%
Operating income −1.1 −4.3 −5.0 −12.2 −4.4
Net income −1.1 −2.8 −6.1 −9.0 −21.1
Growth
EPS, diluted −0.14 −0.60 −0.64 −2.13 −2.01

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2021Fiscal year 2022Fiscal year 2023Gross margin−234.5%Operating margin−12,409.8%Net margin−15,113.2%Free cash flow margin−6,601.9%Fiscal year 2024Gross margin54.1%Operating margin−249.6%Net margin−184.2%Free cash flow margin−207.4%Fiscal year 2025Gross margin45.4%Operating margin−23.4%Net margin−111.4%Free cash flow margin−48.0%
FY2021FY2022FY2023FY2024FY2025
Gross margin n/a n/a −234.5% 54.1% 45.4%
Operating margin n/a n/a −12,409.8% −249.6% −23.4%
Net margin n/a n/a −15,113.2% −184.2% −111.4%
Free cash flow margin n/a n/a −6,601.9% −207.4% −48.0%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2021Operating cash flow−1.4Fiscal year 2022Operating cash flow−1.3Fiscal year 2023Operating cash flow−2.7Capital expenditure−0.0Free cash flow−2.7Fiscal year 2024Operating cash flow−10.0Capital expenditure−0.1Free cash flow−10.1Fiscal year 2025Operating cash flow−9.0Capital expenditure−0.1Free cash flow−9.1
FY2021FY2022FY2023FY2024FY2025
Operating cash flow −1.4 −1.3 −2.7 −10.0 −9.0
Capital expenditure n/a n/a −0.0 −0.1 −0.1
Free cash flow n/a n/a −2.7 −10.1 −9.1
Growth

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2021Shareholders’ equity−8.9Fiscal year 2022Cash0.5Shareholders’ equity−13.1Fiscal year 2023Cash0.2Shareholders’ equity−5.3Fiscal year 2024Cash1.2Total debt9.9Net cash (debt)−8.8Shareholders’ equity−9.5Fiscal year 2025Cash10.4Total debt10.1Net cash (debt)0.3Shareholders’ equity6.4Debt to equity1.57
FY2021FY2022FY2023FY2024FY2025
Cash n/a 0.5 0.2 1.2 10.4
Total debt n/a n/a n/a 9.9 10.1
Net cash (debt) n/a n/a n/a −8.8 0.3
Shareholders’ equity −8.9 −13.1 −5.3 −9.5 6.4
Debt to equity n/a n/a n/a n/a 1.57

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Balance sheet

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025† 31 Dec 2025
Assets
n/a 0.5 0.2 1.2 10.4
n/a n/a 0.0 0.1 5.8
n/a n/a 4.4 3.1 5.0
n/a n/a 0.5 0.2 0.3
233.6 41.9 6.7 6.1 23.0
Growth −82.0% −84.0% −9.2% +278.2%
Liabilities
n/a n/a n/a 9.9 10.1
calc n/a n/a n/a 9.9 10.1
10.2 13.4 12.0 15.6 16.6
Equity
−8.9 −13.1 −17.8 −31.9 −53.0
−8.9 −13.1 −5.3 −9.5 6.4
Growth
Per share and net cash
calc n/a n/a n/a −8.8 0.3
6.5 6.5 9.6 8.9 11.9
calc −1.36 −2.00 −0.55 −1.07 0.54

† The diluted share count jumps at 2025, so per-share figures either side of that column are not comparable. Usually a split, but the break lands on the restatement boundary rather than on the split date, because every column is that period’s latest filing.

Lines marked calc are worked out here from filed figures; point at one for how.