QT Imaging Holdings, Inc. filed a Form 10-Q with the SEC for the quarterly period ended September 30, 2026, reporting a net loss of $14,773 thousand for the nine months ended that date and a narrowed net loss of $297 thousand for the third quarter alone.

Key Highlights

  • Third-quarter revenue: The company reported revenue of $7,340 thousand for the three months ended September 30, 2026, up from $4,192 thousand in the same period of 2025, according to the filing.
  • Nine-month revenue: Revenue for the nine months ended September 30, 2026 was $21,305 thousand, compared with $10,650 thousand for the same period of 2025.
  • Third-quarter net loss: Net loss for Q3 2026 was $297 thousand, or $(0.02) per basic and diluted share, versus a net loss of $4,557 thousand, or $(0.47) per share, in Q3 2025.
  • Accumulated deficit: The accumulated deficit stood at $67,797 thousand as of September 30, 2026, compared with $53,024 thousand as of December 31, 2025.
  • Total assets: Total assets were $30,519 thousand at September 30, 2026, up from $23,021 thousand at December 31, 2025.
  • Long-term debt increase: Long-term debt, less current maturities, net, rose to $11,397 thousand at September 30, 2026 from $683 thousand at December 31, 2025.
  • Shares outstanding: As of November 9, 2026, the registrant had 14,692,216 shares of common stock outstanding.

QT Imaging's Financial Position and Operations for the September 2026 Quarter

According to the filing, QT Imaging Holdings, Inc. (NASDAQ:QTI) reported third-quarter 2026 revenue of $7,340 thousand against cost of revenue of $4,311 thousand, yielding a gross profit of $3,029 thousand. For the nine months ended September 30, 2026, the company reported gross profit of $8,761 thousand on revenue of $21,305 thousand. Total operating expenses for the nine-month period were $15,422 thousand, consisting of research and development expenses of $5,072 thousand and selling, general and administrative expenses of $10,350 thousand, resulting in a loss from operations of $6,661 thousand.

The filing disclosed that for the nine months ended September 30, 2026, non-operating items included a loss on debt extinguishment and modification of $8,294 thousand and interest expense, net of $2,003 thousand, partially offset by a $2,210 thousand favorable change in fair value of earnout liability. The company noted that the earnout liability balance fell to zero at September 30, 2026 from $2,210 thousand at December 31, 2025. Total stockholders' equity was $2,649 thousand at September 30, 2026, compared with $6,445 thousand at December 31, 2025. During the nine months ended September 30, 2026, the company completed an underwritten public offering of 1,200 thousand shares of common stock, net of issuance costs generating $5,347 thousand in additional paid-in capital.

The balance sheet reflected inventory growth to $11,483 thousand from $5,027 thousand at December 31, 2025, and accounts receivable of $7,344 thousand, up from $5,781 thousand. Cash and cash equivalents were $8,124 thousand at September 30, 2026, compared with $10,412 thousand at year-end 2025. The company is classified as a non-accelerated filer, smaller reporting company, and emerging growth company, as indicated on the cover page of the filing.

What Was Disclosed

QT Imaging Holdings, Inc. filed its Form 10-Q for the quarterly period ended September 30, 2026, disclosing unaudited condensed consolidated financial statements showing higher revenue year-over-year, a significantly narrowed third-quarter net loss, an expanded balance sheet, and increased long-term debt compared with December 31, 2025.