QT Imaging (NASDAQ:QTI) Announces Earnings Results, Misses Estimates By $0.05 EPS

QT Imaging (NASDAQ:QTI) posted its quarterly earnings results on Tuesday. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.05), Zacks reports. QT Imaging had a negative return on equity of 1,202.69% and a negative net margin of 77.25%.

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 Performance

NASDAQ:QTI traded down $0.03 during mid-day trading on Tuesday, hitting $2.26. 60,460 shares of the stock were exchanged, compared to its average volume of 41,245. The stock has a market capitalization of $31.12 million, a price-to-earnings ratio of -1.44 and a beta of 0.05. The firm’s 50-day simple moving average is $2.48 and its 200 day simple moving average is $4.36. 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 $2.01 and a fifty-two week high of $7.60.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Craig Hallum started coverage on QT Imaging in a research note on Monday, October 5th. They issued a “buy” rating and a $8.00 price objective on the stock. D. Boral Capital started coverage on QT Imaging in a research note on Friday, October 23rd. They set a “buy” rating and a $9.00 target price for the company. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of QT Imaging in a report on Tuesday, October 6th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, QT Imaging currently has an average rating of “Hold” and an average target price of $8.50.

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.