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QT Imaging Holdings, Inc. has submitted its annual report on Form 10-K for the fiscal year ended December 31, 2024 filing.
The company reported a net loss of $8,984,880 for the year, compared to a net loss of $6,098,951 in the previous year. The increase in net loss is attributed to higher operating expenses as the company continues to develop and commercialize its QT Breast Scanner technology.
QT Imaging Holdings, Inc. is focused on the development and commercialization of its innovative body imaging systems using low energy sound. The company's QT Breast Scanner is a Class II device that has received FDA clearance for use as an ultrasonic imaging system for breast imaging.
During the year, QT Imaging entered into a manufacturing agreement with Canon Medical Systems Corporation to produce the QT Breast Scanners. The company also established a distribution agreement with NXC Imaging to market and sell the scanners in the United States.
The company continues to face challenges in achieving profitability and expects to incur additional expenses related to research and development, regulatory compliance, and marketing efforts.
QT Imaging Holdings, Inc. has received financial support from the U.S. National Institutes of Health and has raised capital through private placements and loans to fund its operations.
The company acknowledges the risks associated with its business, including regulatory compliance, market acceptance, competition, and intellectual property protection.
QT Imaging Holdings, Inc. is committed to improving global health outcomes through the development of safe, affordable, and accessible imaging devices.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the QT Imaging Holdi annual 10-K report dated March 31, 2025. To report an error, please email earnings@qz.com.