QTIWWNasdaqElectromedical & Electrotherapeutic ApparatusUS GAAP · USD

QT Imaging Holdings, Inc

QT Imaging Holdings, Inc. develops and commercializes the QT Breast Scanner, a breast imaging system used in medical settings for screening and diagnostic workflows. The company is based in the United States and operates through a mix of direct sales and distribution partners, with products, software, accessories, and related services tied to its imaging platform.

Liikevaihto18,9milj. USD
+287,9 %v/v
Liikevoitto (EBIT)−4,4milj. USD
+63,6 %v/v
EBIT-marginaali−23,4%
+226,1 %-yks.v/v
Nettotulos−21,1milj. USD
−134,6 %v/v
Vapaa kassavirta−9,1milj. USD
+10,3 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2021–2025

−20−1001020milj. USD2021: EBIT −1,1 milj. USD20212022: 0,00 milj. USD2022: EBIT −4,3 milj. USD20222023: 0,04 milj. USD2023: EBIT −5,0 milj. USD20232024: 4,9 milj. USD2024: EBIT −12 milj. USD20242025: 19 milj. USD2025: EBIT −4,4 milj. USD202519−4,4
LiikevaihtoLiikevoitto (EBIT)

Liiketoiminta

Osuus liikevaihdosta
Breast imaging systems70 %

QT Breast Scanner hardware used for breast imaging and screening workflows.

Software and cloud subscriptions10 %

Software and cloud-based platform access tied to scanner operation and use.

Accessories and related products10 %

Scanner accessories and other product add-ons sold with the imaging system.

Training services5 %

Customer training for operators and clinical staff using the QT platform.

Maintenance and support services5 %

Ongoing servicing, maintenance, and related support for installed systems.

Tuotteet

Raportoitu · osuus liikevaihdosta
99,1%FY2025100 %
  • Products99,1 %
  • Services0,9 %

Lähde: 10-K FY2025, yhtiön tuotelinjoittain raportoima liikevaihto (SEC XBRL). Osuudet on laskettu näytetyistä riveistä ja ne summautuvat 100 %:iin.

Asiakkaat

Customers are hospitals, radiology centers, clinics, and other medical providers that use breast imaging equipment in clinical workflows. The company also sells through distributors and sales agents, including exclusive arrangements in the U.S. and selected international markets, which broadens access to end users while keeping direct sales optional.

Hospitals

Buy QT Breast Scanners for inpatient and outpatient breast imaging workflows.

Radiology centers

Purchase scanners to expand breast imaging capacity and diagnostic offerings.

Clinics and medical practices

Use the system for breast screening and referral-based diagnostic imaging.

Distributors and sales agents

Resell, lease, or rent the scanners and help reach local healthcare buyers.

Government and defense customers

Buy through designated territories such as U.S. Department of Defense sites.

Strategia

The company’s strategy is to commercialize the QT Breast Scanner through product innovation, clinical adoption, and partner-led distribution. It also emphasizes internal manufacturing capability and strategic manufacturing partnerships to support broader scale-up and market access.

Drive clinical adoption of the QT Breast ScannerLyhyt aikaväli

The business depends on hospitals and radiology centers accepting a new imaging platform.

Expand distribution partnershipsLyhyt aikaväli

Partner channels help reach buyers faster than a direct-only sales model.

Improve product and software capabilitiesKeskipitkä aikaväli

Imaging quality, usability, and analytics support differentiation and repeat use.

Scale manufacturing and service deliveryKeskipitkä aikaväli

Broader commercialization requires reliable production, fulfillment, and support.

Maantiede

QT Imaging is centered on the U.S. market, where its distribution agreement covers the United States and U.S. territories, while the company retains the ability to sell elsewhere globally. The reports also reference planned expansion into other regions and a Saudi Arabia distribution agreement, indicating an early international commercialization footprint.

Riskit

QT Imaging faces the risks typical of an early-stage medical device company, including limited operating history, adoption uncertainty, and the need for regulatory and clinical acceptance. Its partner-led sales model, debt obligations, and dependence on trained radiologists and suppliers add execution risk, while product, IP, and data-security issues can affect commercialization and trust.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →Market acceptance of the QT Breast Scanner1Capital and debt repayment risk2Regulatory and product clearance risk3Dependence on distribution partners5Intellectual property protection6
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. Market acceptance of the QT Breast ScannerVaikutus: KorkeaTodennäköisyys: Korkea

    Revenue depends on buyers adopting a new imaging platform at acceptable prices.

    KohdistuuHospitalsClinicsRadiology centers
  2. Capital and debt repayment riskVaikutus: KorkeaTodennäköisyys: Korkea

    The company must fund operations and meet debt cash obligations as they come due.

    Kohdistuu: Liquidity and financing capacity

  3. Regulatory and product clearance riskVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Additional FDA clearances may be needed for current and future products.

    Kohdistuu: Medical device approvals

  4. Training and workflow adoption by radiologistsVaikutus: Korkea

    Customers need trained professionals to review and use the images effectively.

    Kohdistuu: Clinical end users and interpreting physicians

  5. Dependence on distribution partnersVaikutus: KeskitasoTodennäköisyys: Korkea

    Sales execution relies on reseller and agent relationships that may not perform as expected.

    Kohdistuu: NXC and other distribution agreements

  6. Intellectual property protectionVaikutus: KeskitasoTodennäköisyys: Matala

    The company’s differentiation depends on protecting imaging technology and related know-how.

    KohdistuuPatentsSoftwareProprietary methods

Kirjanpito

Harkinnanvaraiset erät
Revenue recognition for hardware and services

Scanner sales are point-in-time, while training and maintenance are service-based.

Vaikutus: Affects timing of reported revenue and gross margin

Fair value measurement of liabilities

Warrant, derivative, and earnout liabilities are revalued each period.

Vaikutus: Can create large non-cash gains or losses in net income

Inventory and warranty estimates

Manufacturing, shipping, and replacement obligations require judgment.

Vaikutus: Affects cost of revenue and reported gross profit

Quarterly revenue concentration

Small order counts can make period-to-period comparisons uneven.

Vaikutus: Can cause volatility in revenue and operating results

Julkisesti listattuja yhtiöitä, joilla on samankaltainen liiketoiminta.

Päivitetty: 24.9.2026