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QT Imaging Reports Preliminary Unaudited Fourth Quarter and Full Year 2025 Financial Results

  • QT Imaging generated record revenue of $8.3 million in Q4 2025, a 97% increase from Q3 2025 & an 877% increase from Q4 2024.
  • The company shipped a record 17 scanners in Q4 2025 & 40 scanners for the full year 2025, up from 12 scanners shipped in 2024.
  • Full-year 2025 revenue reached $18.9 million, exceeding the company's guidance of $18.0 million.
  • QT Imaging successfully relisted on the Nasdaq Capital Market less than one year after leaving the exchange.
  • The company strengthened its financial position through a private placement raising $18.2 million, led by Sio Capital.
  • Strategic collaborations were announced with Intelerad Medical Systems & Olea Medical to enhance the QTI Cloud SaaS Platform with advanced imaging & AI 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 worth over $24 million.
  • Satrajit Misra was appointed as Chief Commercial Officer to lead commercial initiatives.
  • Q4 2025 gross margin was 38% compared to 47% in Q4 2024, primarily due to higher manufacturing costs from tariffs on two specific scanners.
  • Net loss for Q4 2025 was $1.4 million, a 60% improvement from the $3.5 million net loss in Q4 2024.
  • Non-GAAP Adjusted EBITDA for Q4 2025 was $(0.4) million, improving 79% from $(1.9) million in Q4 2024.
  • As of December 31, 2025, the company held $10.5 million in cash, restricted cash, & cash equivalents.
  • Full-year 2025 revenue grew 288% year-over-year to $18.9 million, while gross margin decreased to 45% from 54% in 2024.
  • Full-year 2025 net loss was $21.1 million, including $8.8 million in other expenses related to debt transactions & liability fair value changes.
  • The company expects 2026 revenue to be approximately $39 million, driven by scanner shipments & initial SaaS Cloud Platform revenue.
  • The company plans to hold an investment community conference call during the week of March 23, 2026, following the filing of its Form 10-K for 2025.