QT Imaging (NASDAQ:QTI) Issues Quarterly Earnings Results

QT Imaging (NASDAQ:QTI) released its quarterly earnings data on Tuesday. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.07, reports. QT Imaging had a negative return on equity of 236.01% and a negative net margin of 54.63%. The business had revenue of $7.34 million during the quarter, compared to analyst estimates of $10.79 million.

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 0.7%

Shares of NASDAQ:QTI traded down $0.01 during trading on Thursday, hitting $2.10. The company’s stock had a trading volume of 3,740 shares, compared to its average volume of 41,245. The company has a market capitalization of $28.99 million, a PE ratio of -1.88 and a beta of 0.05. The company has a debt-to-equity ratio of 6.81, a quick ratio of 2.06 and a current ratio of 3.10. QT Imaging has a fifty-two week low of $1.96 and a fifty-two week high of $7.60. The business has a 50 day moving average price of $2.46 and a two-hundred day moving average price of $4.32.

Wall Street Analyst Weigh In

QTI has been the topic of several recent analyst reports. Craig Hallum initiated coverage on shares of QT Imaging in a report on Monday, October 5th. They set a “buy” rating and a $8.00 price objective on the stock. D. Boral Capital assumed coverage on shares of QT Imaging in a research note on Friday, October 23rd. They set a “buy” rating and a $9.00 target price for the company. Weiss Ratings restated a “sell (e+)” rating on shares of QT Imaging in a research report on Tuesday, October 6th. Finally, Ladenburg Thalmann & Co. Inc. reduced their price target on shares of QT Imaging to $12.00 and set a “buy” rating for the company in a research report on Wednesday. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $9.67.

About QT Imaging

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.