Filing Flows

Filing Flows › Companies › QT Imaging Holdings › Cash flow

QT Imaging Holdings cash flow, quarter by quarter

Latest: Q2 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$5.0M in Q2 2026 · −$12.7M over twelve months

Operating cash flow−$4.8M
Capital spending−$174K
Free cash flow−$5.0M
Cash conversion cycle196 days

Analysis

In Q2 2026, QT Imaging Holdings generated −$4.8M of operating cash flow and spent $174K on capital projects, leaving free cash flow of −$5.0M. That is $3.5M less than in Q2 2025 (−$1.5M).

Over the twelve months to Jun 30, 2026, operating cash flow was −$12.5M; the largest uses were operating cash flow ($12.5M), net borrowing (+) / repaid (−) ($5.0M), capital spending ($268K); besides operations, cash came from shares issued ($26.5M), other financing ($213K); the cash balance rose by $8.9M.

Operating cash flow was −$4.8M against net income of −$11.1M. The largest differences: inventory −$2.3M, receivables −$1.1M, stock-based pay +$668K.

Its cash conversion cycle was 196 days (receivables 84 + inventory 174 − payables 62).

Free cash flow

QT Imaging Holdings: free cash flow by quarterQT Imaging Holdings: free cash flow by quarter−$1.9MQ3 2024−$1.3MQ4 2024−$3.5MQ1 2025−$1.5MQ2 2025−$878KQ3 2025−$3.2MQ4 2025−$3.7MQ1 2026−$5.0MQ2 2026
Operating cash flow less capital spending.
QT Imaging Holdings: operating cash flow against capital spendingQT Imaging Holdings: operating cash flow against capital spendingOperating cash flowCapital spending−$1.9M$8KQ3 2024−$1.2M$53KQ4 2024−$3.5M$0Q1 2025−$1.4M$47KQ2 2025−$879K−$182Q3 2025−$3.1M$77KQ4 2025−$3.7M$17KQ1 2026−$4.8M$174KQ2 2026
Latest (Q2 2026): Operating cash flow −$4.8M, Capital spending $174K.

Capital allocation, year by year

QT Imaging Holdings: where the cash came from (up) and went (down), by fiscal yearQT Imaging Holdings: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingFY2022: Operating cash flow −$1.3MFY2022FY2023: Operating cash flow −$2.7MFY2023: Net borrowing $1.4MFY2023: Shares issued $1.0MFY2023: Capital spending −$13K$2.4MFY2023FY2024: Operating cash flow −$10.0MFY2024: Net borrowing $10.5MFY2024: Shares issued $1.0MFY2024: Capital spending −$88K$11.5MFY2024FY2025: Operating cash flow −$9.0MFY2025: Net borrowing $154KFY2025: Shares issued $17.6MFY2025: Capital spending −$124K$17.8MFY2025
Over these 4 years operating cash flow totalled −$22.9M; the largest uses were operating cash flow ($22.9M) and capital spending ($225K). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$10.9M
Debt$11.4M
Net debt$473K
Cash runway10 months

QT Imaging Holdings is burning cash: its operations consume cash, a free cash flow of −$12.7M a year at the current rate against $10.9M of cash and investments: a runway of about 10 months before any new financing.

Where the cash came from and went

QT Imaging Holdings: sources (+) and uses (−) of cash, Q2 2026QT Imaging Holdings: sources (+) and uses (−) of cash, Q2 2026Shares issued$9.2MOperating cash flow−$4.8MCash drawn (+) / kept (−)−$4.0MCapital spending−$174KOther financing−$116K
QT Imaging Holdings: sources (+) and uses (−) of cash, TTM to Q2 2026QT Imaging Holdings: sources (+) and uses (−) of cash, TTM to Q2 2026Shares issued$26.5MOperating cash flow−$12.5MCash drawn (+) / kept (−)−$8.9MNet borrowing (+) / repaid (−)−$5.0MCapital spending−$268KOther financing$213K

From profit to cash

QT Imaging Holdings: net income to operating cash flow, Q2 2026QT Imaging Holdings: net income to operating cash flow, Q2 2026Net income−$11.1MDepreciation & amortization$21KStock-based pay$668KReceivables−$1.1MInventory−$2.3MPayables$99KAccrued liabilities$514KPrepaid and other assets−$103KOther liabilities−$529KOperating cash flow−$4.8M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 20268417462196
Q1 20268413876146
Q4 202550925092
Q3 20257616370169
Q2 20258015261170
Q1 20254627476244
Q4 202418651162507
Q3 202445857173729

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q2 2026−$4.8M−$174K—$9.2M−$4.0M−$5.0M
Q1 2026−$3.7M−$17K−$9K$400K$3.5M−$3.7M
Q4 2025−$3.1M−$77K−$5.2M$16.9M−$8.7M−$3.2M
Q3 2025−$879K$182—$54K$307K−$878K
Q2 2025−$1.4M−$47K−$26K$700K$966K−$1.5M
Q1 2025−$3.5M—$5.4M—−$1.8M−$3.5M
Q4 2024−$1.2M−$53K−$33K$1.0M$372K−$1.3M
Q3 2024−$1.9M−$8K−$1.2M—$3.0M−$1.9M

QT Imaging Holdings: income statement and cash flow

QT Imaging Holdings, Q2 2026: revenue $7.4M (+103% year over year), operating margin -25.1%. The chart follows the revenue to costs, profit and cash.

QT Imaging Holdings: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.