Filing Flows › Health Care › QT Imaging Holdings (QTI)
QT Imaging Holdings (QTI) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 12, 2026 · QT Imaging Holdings (QTI) Q2 2026 earnings results →
Q2 2026 Revenue up 103% year over year to $7.4M · 149¢ of every $1 of revenue lost · operating margin -25.1%
QT Imaging Holdings made $7.4M in Q2 2026 (+103% Y/Y): Product $7.4M, Service $50K. Operating margin -25.1%, net loss $11.1M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 12, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $7.4M in Q2 2026, up 103% year over year and up 14% from the previous quarter. Product was the largest line at 99% of revenue. Product added $3.8M year over year (up 104%), 100% of the total change.
Gross margin was 41.2%, down 8.8 points from Q2 2025. Operating costs exceeded revenue by $1.9M, an operating margin of -25.1%. Operating expenses grew 72% against revenue growth of 103%. The fastest-growing cost line was Research & development (+80%). The quarter ended with a net loss of $11.1M, wider than the previous quarter's $3.4M loss. Net interest and other expense of $9.2M was the main reason.
Operating cash flow was −$4.8M. Non-cash charges added back $21K of depreciation and amortization and $668K of share-based compensation. Working capital and other items added $5.5M. Capital expenditures of $174K exceeded it, leaving free cash flow of −$5.0M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 12, 2026 | $7.4M | +103% | -25.1% | −$11.1M | −$4.8M |
| Q1 2026 | 10-Q | May 13, 2026 | $6.5M | +133% | -36.0% | −$3.4M | −$3.7M |
| Q4 2025 | 10-K | Mar 25, 2026 | $8.3M | +877% | -8.5% | −$1.4M | −$3.1M |
| Q3 2025 | 10-Q | Nov 12, 2025 | $4.2M | +338% | -39.4% | −$4.6M | −$879K |
| Q2 2025 | 10-Q | Aug 7, 2025 | $3.7M | +114% | -28.5% | −$4.0M | −$1.4M |
| Q1 2025 | 10-Q | May 13, 2025 | $2.8M | +105% | -37.2% | −$11.1M | −$3.5M |
| Q4 2024 | 10-K | Mar 31, 2025 | $847K | 171× | -242.2% | −$3.5M | −$1.2M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
Loading the interactive chart…
🌏Named in Asian annual reportsinteractive
Loading the interactive chart…
🔄Rotation against the market and its industry (RRG)interactive
Loading the interactive chart…
🔍Earnings qualityinteractive
Loading the interactive chart…
⚖️Fair value by methodinteractive
Loading the interactive chart…
🔭Outlook & guidanceinteractive
Loading the interactive chart…
📈Investments: gains and what it boughtinteractive
Loading the interactive chart…
🏭Its industry’s money flow (input-output)interactive
Loading the interactive chart…
About QT Imaging Holdings
The following discussion reflects the business of the Company. In this section, “we,” “us,” “our,” “the Company” or “QT Imaging” below generally refers to QT Imaging Holdings, Inc. and its subsidiaries. On December 8, 2022, GigCapital5, Inc. (“ GigCapital5 ”), our legal predecessor company and a special purpose acquisition company which was incorporated in Delaware in 2021, entered into the Business Combination Agreement with its wholly owned subsidiary, QTI Merger Sub, Inc. (“ Merger Sub ”), and QT Imaging, Inc. When the transactions contemplated by the Business Combination Agreement (the “ Business Combination ”) closed on March 4, 2024, Merger Sub merged with and into QT Imaging, Inc. with QT Imaging, Inc. the surviving company in such merger, and after giving effect to the Business Combination, QT Imaging, Inc.
In its own words, from its 10-K, filed Mar 25, 2026.
QT Imaging Holdings against its Electromedical & Electrotherapeutic Apparatus peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +103% against the peers' median +14%. Operating margin: -25.1% against the peers' median 6.3%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| QTI QT Imaging Holdings | Q2 2026 | $7.4M | +103% | -25.1% |
| MDT Medtronic | Q1 FY27 | $9.8B | +14% | 18.1% |
| ITGR Integer Holdings | Q3 2026 | $450M | -4% | 6.3% |
| LIVN LivaNova | Q3 2026 | $393M | +10% | 7.2% |
| CNMD Conmed | Q3 2026 | $336M | -0.7% | 11.1% |
| TMDX TransMedics Group | Q3 2026 | $203M | +41% | 13.9% |
| AXGN Axogen | Q3 2026 | $75.8M | +26% | 1.3% |
| OM Outset Medical | Q3 2026 | $33.6M | +14% | -36.5% |
| CBLL Ceribell | Q3 2026 | $29.3M | +30% | -70.0% |
Source: QT Imaging Holdings 10-Q on SEC EDGAR · CIK 1844505 · Electromedical & Electrotherapeutic Apparatus
13F: who owns QTI and who is buying
More on QTI
History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results