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Friday 6 November 2026
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QT Imaging Holdings, Inc.
QTI Healthcare Medical Devices
QT Imaging Holdings, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $18.9 million, up 287.9% from fiscal 2024.
- Revenue
- +103.2%
- EPS
- −78.6%
- Free cash flow
- −236.3%
- Total debt
- +286.5%
Quarter to June 2026, against a year earlier
2.01
0.06
−2.90%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Jun ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | — | — | — | — | — | — | — | 0 | 5 | 19 | 26 | +2,064.3% | 39 | 57 | 73 | +56.7% | |
| Gross margin, % | — | — | — | — | — | — | — | (234.16) | 54.11 | 45.36 | 40.39 | +279.5 pt | ||||||
| EBT | — | — | — | — | — | (1) | (2) | (6) | (9) | (21) | (20) | +109.0% | ||||||
| EBT margin, % | — | — | — | — | — | 0.00 | 0.00 | (15,092.57) | (184.48) | (111.41) | (77.26) | (111.4) pt | ||||||
| Net income | — | — | — | — | — | (1) | (3) | (6) | (9) | (21) | (20) | +108.9% | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | — | — | — | — | — | 0.00 | 0.00 | 0.01 | 0.73 | 1.81 | 1.78 | n/m | |||||
| Earnings | — | — | — | — | — | (0.41) | (1.80) | (1.92) | (2.13) | (2.01) | (1.57) | +49.2% | ||||||
| Cash flow | — | — | — | — | — | (0.50) | (0.58) | (0.83) | (1.51) | (0.86) | (0.84) | +14.2% | ||||||
| Capex | — | — | — | — | — | 0.00 | 0.00 | 0.00 | (0.01) | (0.01) | (0.02) | n/m | ||||||
| Free cash flow | — | — | — | — | — | (0.50) | (0.58) | (0.84) | (1.52) | (0.87) | (0.86) | +14.6% | ||||||
| Book value | — | — | — | — | — | (3.27) | (6.00) | (1.67) | (1.43) | 0.62 | 0.15 | n/m | ||||||
| Shares, m | — | — | — | — | — | 3 | 2 | 3 | 7 | 10 | 12 | +40.0% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | — | — | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.0 | |||||
| P/S | — | — | — | — | — | — | — | 12,942.56 | 9.99 | 3.38 | 1.16 | 4,318.6 | ||||||
| P/B | — | — | — | — | — | — | — | 0.00 | 0.00 | 9.92 | 13.67 | 3.3 | ||||||
| EV/Sales | — | — | — | — | — | — | — | 13,121.68 | 11.56 | 3.07 | 1.33 | 4,378.8 | ||||||
| EV/FCF | — | — | — | — | — | — | — | (199.48) | (5.58) | (6.35) | (2.75) | (70.5) | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | — | — | — | — | — | (1) | (1) | (3) | (10) | (9) | (12) | +59.9% | |||||
| Capex | — | — | — | — | — | — | — | 0 | 0 | 0 | 0 | +208.8% | ||||||
| Free cash flow | — | — | — | — | — | (1) | (1) | (3) | (10) | (9) | (13) | +60.5% | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | — | — | — | — | — | 1 | (4) | (3) | (5) | 14 | 20 | +127.8% | |||||
| Net debt | — | — | — | — | — | 0 | 2 | 7 | 8 | (6) | 4 | +102.6% | ||||||
| Shareholders’ equity | — | — | — | — | — | (9) | (13) | (5) | (10) | 6 | 2 | n/m | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | — | — | — | — | — | 0.00 | (2.84) | (25.07) | (221.53) | (144.86) | (96.64) | (144.9) pt | |||||
| ROIC | — | — | — | — | — | 0.00 | 0.00 | (161.15) | 0.00 | (486.51) | (62.51) | (486.5) pt | ||||||
| ROE | — | — | — | — | — | 0.00 | 35.62 | 66.32 | 190.85 | 1,363.27 | (2,125.31) | +1,363.3 pt | ||||||
| People | ||||||||||||||||||
| People | Employees | — | — | — | — | — | 3 | 3 | 3 | 21 | 32 | — | +80.7% | |||||
| Revenue/emp, $m | — | — | — | — | — | 0.00 | 0.00 | 0.01 | 0.23 | 0.59 | — | n/m | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 26 Oct 2026
QT Imaging Holdings, Inc. vs peers in Medical Devices (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| XTNT Xtant Medical Holdings, Inc. | $42.1M | — (loss-making) | — (loss-making) | −34.96% (below 0%: shrinking) | n/m | −881.96% (below 0%: shrinking) | 57.88% | (39.81%) | Compare |
| CVRX CVRx, Inc. | $39.2M | — (loss-making) | — (loss-making) | −5.84% (below 0%: shrinking) | n/m | −9.91% (below 0%: shrinking) | 86.74% | (94.31%) | Compare |
| TELA TELA Bio, Inc. | $35.2M | — (loss-making) | — (loss-making) | −4.49% (below 0%: shrinking) | n/m | −17.72% (below 0%: shrinking) | 72.77% | (48.12%) | Compare |
| ELUT Elutia Inc. | $33.3M | 0.6× | — (loss-making) | −11.65% (below 0%: shrinking) | n/m | −2.52% (below 0%: shrinking) | 59.62% | (327.85%) | Compare |
| RPID Rapid Micro Biosystems, Inc. | $31.1M | — (loss-making) | — (loss-making) | +10.91% (above 0%: growing) | n/m | −23.97% (below 0%: shrinking) | 15.05% | (152.99%) | Compare |
| QTI QT Imaging Holdings, Inc. | $30.3M | — (loss-making) | — (loss-making) | +103.20% (above 0%: growing) | n/m | −236.31% (below 0%: shrinking) | 41.16% | (25.07%) | |
| NSYS Nortech Systems Incorporated | $30.0M | 28.4× | 17.5× | +9.34% (above 0%: growing) | −8.33% (below 0%: shrinking) | −1,567.16% (below 0%: shrinking) | 17.00% | 1.86% | Compare |
| NSPR InspireMD, Inc. | $29.7M | — (loss-making) | — (loss-making) | −0.39% (below 0%: shrinking) | n/m | −26.00% (below 0%: shrinking) | (43.70%) | (815.64%) | Compare |
| NNOX Nano-X Imaging Ltd. | $19.6M | — (loss-making) | — (loss-making) | +36.71% (above 0%: growing) | n/m | −21.37% (below 0%: shrinking) | (1,050.87%) | (1,334.91%) | Compare |
| Median of peers | $32.2M | — | — | −2.44% | — | −22.67% | 37.44% | (123.65%) |
Pay and ownership Proxy statement filed 2 July 2026
Ownership
Directors and executive officers, together
25.40%
Alyeska Master Fund, L.P.
9.20%
Lynrock Lake Master Fund LP
8.40%
Dr. Raluca Dinu
8.00%
Dr. John Klock
7.10%
Dr. Avi Katz
7.00%
John C. Klock, Jr. and Cynthia L. Klock Trust Dated
7.00%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more.
Read the proxy statement