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QT Imaging Reports 2025 Fourth Quarter and Full Year Financial Results

  • QT Imaging reported 2025 revenue of $18.9 million, exceeding the $18.0 million outlook, driven by a record shipment of 40 Breast Acoustic CT scanners.
  • The company affirmed its 2026 revenue guidance of approximately $39 million, supported by contracted scanner minimum order quantities & initial QTI Cloud Platform revenue.
  • A new Category III CPT code (X579T) for breast imaging was approved by the AMA, becoming effective January 1, 2027, to facilitate broader clinical adoption.
  • The company received U.S. FDA 510(k) clearance for an updated scanner configuration designed to improve imaging of posterior breast tissue.
  • QT Imaging was uplisted to The Nasdaq Capital Market & completed a private placement in October 2025 generating $18.2 million in gross proceeds.
  • Strategic collaborations were announced with Intelerad Medical Systems for cloud platform integration & Olea Medical to enhance the QTI Cloud Platform with AI-ready technologies.
  • An exclusive distribution agreement was signed with Al Naghi Medical Co. in the UAE, committing to minimum orders of 43 scanners between 2026 & 2028, representing over $24 million in revenue.
  • Fourth quarter 2025 revenue reached $8.3 million, reflecting an 877% year-over-year increase, while gross margin declined to 38% due to higher manufacturing costs from tariffs.
  • Full-year 2025 operating expenses decreased by 12% to $13.0 million, primarily due to reduced transaction expenses compared to 2024.
  • The company reported a net loss of $21.1 million for 2025, compared to $9.0 million in 2024, with Non-GAAP adjusted EBITDA improving to $(3.5) million.
  • Cash, restricted cash, & cash equivalents totaled $10.5 million as of December 31, 2025, following a significant strengthening of the balance sheet.
  • Satrajit Misra was appointed as Chief Commercial Officer & Dr. Mary W. Yamashita was named Medical Advisor to support clinical strategy & market development.