QT Imaging Holdings, Inc. is dedicated to the research, development, and manufacturing of advanced automated systems for breast imaging. These innovative devices ...
QT Imaging Holdings, Inc. (NASDAQ: QTI) is a healthcare technology company headquartered in Novato, California, dedicated to advancing breast health through innovative imaging solutions. The company develops and manufactures sophisticated automated systems, with its flagship product being the QT Ultrasound Breast Scanner. This device provides both reflection-mode and transmission-mode ultrasound ...QT Imaging Holdings, Inc. (NASDAQ: QTI) is a healthcare technology company headquartered in Novato, California, dedicated to advancing breast health through innovative imaging solutions. The company develops and manufactures sophisticated automated systems, with its flagship product being the QT Ultrasound Breast Scanner. This device provides both reflection-mode and transmission-mode ultrasound imaging, offering a radiation-free, comfortable alternative to traditional mammography. The technology leverages quantitative transmission (QT) ultrasound, combined with artificial intelligence and biomarkers, to enable earlier and more accurate detection of breast abnormalities.
Since its establishment in 2011, QT Imaging has focused on improving global health outcomes by making safe, accessible, and cost-effective breast imaging widely available. The company's platform is designed to be patient-first, emphasizing data-driven precision care. In March 2024, QT Imaging completed a business combination with GigCapital and began trading on the NASDAQ under the ticker symbol QTI, providing public market validation and growth capital.
Financially, the company has shown revenue generation with a trailing twelve-month revenue of approximately $22.4 million (derived from revenue per share of $1.642 and share count), but it continues to incur losses, with a net profit margin of -58.9% and negative operating cash flow. The company's financial metrics indicate a relatively high debt-to-equity ratio of 1.528 and a current ratio of 2.486, suggesting liquidity but also reliance on debt. Key executives include CEO Raluca Dinu, who brings extensive international leadership experience, and founder John C. Klock, MD, who serves as a board member.
Looking ahead, QT Imaging aims to expand its market presence, regulatory approvals, and clinical adoption. The company also focuses on research and development (R&D) to enhance its platform, with R&D expenses accounting for 21.2% of revenue. With a small team of 32 employees, QT Imaging operates in a niche but growing market for non-invasive breast imaging, holding potential for significant impact in women's health.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$18.9M
+287.9%
-10.2%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$-21.1M
-134.6%
-698.1%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+45.4%
-16.2%
+8.4%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
-23.4%
+90.6%
-196.4%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
-111.4%
+39.5%
-788.3%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$-9.1M
+10.3%
-36.5%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
-48.0%
+76.9%
-51.9%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
81.4%
+178.3%
+26.2%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
2.81x
+459.3%
+24.6%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator: Welcome to the QT Imaging Second Quarter 26 Financial Results Conference Call. All participants will be in listen only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by 0. After today's presentation, there will be an opportunity to ask questions. Please note this event is being recorded. I would now like to turn the conference over to your host, Bruce Voss. With us on the call today are Dr. Raluca Dinu, Chief Executive Officer and Jay Jennings, Chief Financial Officer. I want to remind listeners that comments made during this call by management will include forward looking statements within the meaning of federal securities laws. Any statements that are not statements of historical facts should be deemed to be forward looking statements. Such statements involve known and unknown risks. Uncertainties and other factors that may cause actual results performance, or achievements to be materially different from those implied by such statements. All forward looking statements are based on QT Imaging's current beliefs, as well as assumptions made by and information currently available to QT imaging. And relate to, among other things, QT imaging breast acoustic CT scanner including its product commercialization and manufacturing, the evolution of QT imaging into a scalable imaging platform, a QTI cloud platform and SaaS model, performance of software enhancements, new product development and introduction, and product sales growth and projected revenues. For a list and description of the risks and uncertainties associated with the company's business, please see its filings with the Securities and Exchange Commission. Furthermore, the content of this call contains information that is accurate only as of the date of this live broadcast, 08/12/2026. QT Imaging disclaims because of new information, future events, or otherwise. Mhmm. And now I would like to turn the call over to Doctor. Raluca Dinu. Raluca?
Raluca Dinu: Thank you, Bruce, and good afternoon, everyone. Thank you for spending time with us and for your interest in QT Imaging. The second quarter was another strong period of execution for QT Imaging as we continued to scale our commercial business and build the foundation for broader adoption of breast acoustic CT imaging technology. Our mission is to transform breast health by giving women and physicians a better approach to breast imaging. Today's pathway still has important limitations. Mammography can be less effective in dense breasts and requires compression. MRI can be costly and burdensome. And conventional ultrasound remains highly operator dependent. CT imaging was built to address these challenges with a differentiated 3-dimensional imaging platform that is radiation free compression free and quantitative. Our vision extends beyond delivering a better imaging experience. We are building a platform designed to provide objective reproducible information that can support …
