Filing Flows › QT Imaging Holdings (QTI) › Q3 2025
QT Imaging Holdings (QTI) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 12, 2025
QT Imaging Holdings (QTI) reported revenue of $4.2M for the third quarter 2025 (Q3 2025), +339% from a year earlier and +15% from the quarter before. Operating margin was -39.4%, net loss $4.6M (108.7% of revenue).
QT Imaging Holdings, Q3 2025: revenue $4.2M (+338% year over year), operating margin -39.4%, net loss $4.6M, operating cash flow −$879K. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $4.2M | +15% | +339% |
| Operating profit | −$1.7M | — | — |
| Net earnings | −$4.6M | — | — |
| Operating cash flow | −$879K | — | — |
What changed
Revenue was $4.2M in Q3 2025, up 339% year over year and up 15% from the previous quarter. Product was the largest line at 99% of revenue. Product added $3.2M year over year (up 352%), 100% of the total change.
Gross margin was 43.0%, down 20.3 points from a year earlier. Operating costs exceeded revenue by $1.7M, an operating margin of -39.4%. Operating expenses grew 18% against revenue growth of 339%. The fastest-growing cost line was SG&A (+25%). The quarter ended with a net loss of $4.6M, wider than the previous quarter's $4.0M loss. Net interest and other expense of $2.9M was the main reason.
Operating cash flow was −$879K. Non-cash charges added back $39K of depreciation and amortization and $199K of share-based compensation. Working capital and other items added $3.4M. Capital expenditures of −$0K exceeded it, leaving free cash flow of −$878K.
Questions
What was QT Imaging Holdings' revenue in the third quarter 2025?
QT Imaging Holdings (QTI) reported revenue of $4.2M for the third quarter 2025 (Q3 2025), +339% from a year earlier and +15% from the quarter before.
Was QT Imaging Holdings profitable in the third quarter 2025?
Operating loss was $1.7M (-39.4% of revenue) and net loss $4.6M.