QT Imaging (NASDAQ:QTI) Issues Earnings Results

QT Imaging (NASDAQ:QTI) released its quarterly earnings results on Tuesday. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.07, reports. The firm had revenue of $7.34 million for the quarter, compared to the consensus estimate of $10.79 million. QT Imaging had a negative return on equity of 1,202.69% and a negative net margin of 77.25%.

Here are the key takeaways from QT Imaging’s conference call:

• Third-quarter revenue rose 75% year over year to $7.3 million, with 15 scanners sold versus nine a year earlier; nine-month revenue nearly doubled to $21.3 million.
• CMS established separate Medicare hospital outpatient payment for medically necessary diagnostic QTscan exams, effective January 1, 2027, building on a dedicated billing code. The coverage applies to diagnostic exams, not routine screening, and broader payer adoption remains a goal.
• A Premier purchasing agreement gives participating providers access to QT Imaging’s scanners across nearly 4,400 hospitals and health systems, while the company’s new facility has doubled manufacturing capacity. Management says converting this expanded reach into orders and installations is now the priority.
• QT Imaging lowered its 2026 revenue outlook to approximately $34 million from $39 million, citing Middle East shipping disruptions affecting expected Saudi Arabia and UAE shipments; timing for those deliveries remains uncertain, while the U.S. shipment plan is unchanged.
• Operating expenses rose to $5.5 million and operating loss widened to $2.4 million. Cash used in operations was $10.7 million in the first nine months, with $8.4 million in cash, cash equivalents, and restricted cash at quarter-end; the reported $297,000 quarterly net loss included a $2.4 million non-cash gain tied to the earnout liability.

QT Imaging Stock Down 6.4%

NASDAQ:QTI traded down $0.14 on Wednesday, hitting $2.12. 25,765 shares of the company’s stock were exchanged, compared to its average volume of 41,179. The firm has a 50-day moving average price of $2.47 and a 200-day moving average price of $4.34. QT Imaging has a 52 week low of $2.01 and a 52 week high of $7.60. The company has a debt-to-equity ratio of 6.81, a current ratio of 3.10 and a quick ratio of 2.06. The company has a market cap of $29.14 million, a P/E ratio of -1.35 and a beta of 0.05.

Analyst Ratings Changes

QTI has been the subject of a number of research reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of QT Imaging in a report on Tuesday, October 6th. Craig Hallum initiated coverage on QT Imaging in a research note on Monday, October 5th. They issued a “buy” rating and a $8.00 target price on the stock. Finally, D. Boral Capital began coverage on QT Imaging in a research note on Friday, October 23rd. They issued a “buy” rating and a $9.00 target price on the stock. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $8.50.

QT Imaging Company Profile

QT Imaging Holdings, Inc. (NASDAQ:QTI) is a medical technology company that develops advanced ultrasound-based imaging systems. Its technology is designed to create three-dimensional images of human tissue without using ionizing radiation. The company’s principal product is the QTscan, an automated breast-imaging system that uses sound waves to capture images without breast compression. The system is intended to support breast imaging and may be particularly relevant for evaluating breast tissue that can be difficult to assess with conventional mammography.