QT Imaging Holdings, Inc. (QTI) AI Stock Analysis

QT Imaging Holdings, Inc. is a medical imaging company focused on research, development, and commercializing body imaging systems. Founded in 2011 and based in Novato, California, the company develops technologies to improve the detection, diagnosis, monitoring, and treatment of medical conditions. Its core product portfolio features the QT Ultrasound Breast Scanner, an ultrasonic imaging system offering both reflection-mode and transmission-mode breast imaging. This technology provides clinicians with detailed breast tissue insights to support diagnosis and personalized treatment planning. The company also collaborates with healthcare professionals and institutions globally to advance its imaging solutions.

Revenue increased from $365,148 in FY2021 to $18.9M in FY2025, producing a four-year compound annual growth rate of 168.3%. Growth accelerated sharply after FY2023 revenue of $40,355, rising 11989.4% to $4.9M in FY2024 and 287.9% in FY2025. Gross margin expanded to 45.4% in FY2025, up from -234.5% in FY2023. However, annual net losses deepened to -$21.1M in FY2025 from -$9.0M in FY2024. For the trailing twelve months ending June 30, 2026, revenue stood at $26.4M with quarterly revenue growth of 103.2% year-over-year, while operating margin remained negative at -25.1% and profit margin was -77.3%.

As of June 30, 2026, QT Imaging held $11.0M in cash and short-term investments against $4.3M in total debt, leaving net cash of $6.6M. Total assets stood at $30.6M and shareholders' equity was $2.2M, resulting in a debt-to-equity ratio of 1.93. The company maintained a current ratio of 3.10. Operating cash flow for FY2025 was -$9.0M, with free cash flow of -$9.1M after capital expenditures of $124,000. During FY2025, the company also deployed $5.0M toward share buybacks.

At a share price of $2.40, QT Imaging carries a market capitalization of $35.1M and an enterprise value of $42.9M. The stock trades at a price-to-sales multiple of 1.3x and an EV-to-revenue multiple of 1.6x, compared to the median of its US-listed Healthcare peers of 4.1x price-to-sales. Its price-to-book ratio is 16.9x. Over the past year, the shares dropped 92.9% and sit 48.4% below their 200-day moving average, underperforming the S&P 500 benchmark return of 16.8%.

Wall Street coverage includes 3 Strong Buy recommendations with zero Buy, Hold, or Sell ratings. The mean price target is $10.40, representing an upside of 333.3% from the last closing price of $2.40. For the fiscal year ending December 31, 2026, consensus estimates project revenue of $39.0M and EPS of -$0.89. For the following fiscal year, 2 analysts expect revenue of $60.7M and EPS of $0.12. The company beat EPS estimates in 2 of the past 4 quarters, with next earnings scheduled for November 9, 2026.

This page is an AI-written research summary of QT Imaging Holdings, Inc. (QTI). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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