QT Imaging Holdings (QTI) Q2 2026 earnings summary

Executive summary

• Achieved Q2 2026 revenue of $7.4 million, up 103% year-over-year, with 15 Breast Acoustic CT scanners shipped versus 8 in Q2 2025.

• First-half 2026 revenue reached $14.0 million with 28 scanners shipped, reflecting strong commercial execution and expanding adoption.

• Expanded U.S. and international commercial infrastructure, including new leadership, distribution partnerships, and regulatory clearances in Saudi Arabia, UAE, and Israel.

• Completed uplisting to Nasdaq and public offerings totaling $10 million, strengthening the balance sheet.

• Over 12,000 women imaged to date, highlighting growing clinical experience and adoption.

Financial highlights

• Q2 2026 revenue: $7.4 million (up 103% YoY); H1 2026 revenue: $14.0 million (up 116% YoY).

• Gross margin for Q2 2026 was 41%, down from 50% in Q2 2025, due to higher inventory costs.

• Operating expenses for Q2 2026 were $4.9 million, up from $2.9 million in Q2 2025.

• Net loss for Q2 2026 was $11.1 million ($0.75 per share), including an $8.3 million non-cash loss on debt modification.

• Cash and restricted cash as of August 7, 2026: $14.2 million, up from $11.0 million at June 30, 2026.

Outlook and guidance

• Affirmed 2026 revenue guidance of approximately $39 million, more than double 2025 revenue.

• Management expects current cash, recent financings, and anticipated revenues to fund operations for at least the next 12 months.

• Expect gradual increase in scanner placements in Q3 and Q4 2026, with direct sales team focusing on imaging centers and hospitals.

• Operational discipline and scaling remain key priorities for H2 2026.

• Ongoing geopolitical tensions in the Middle East may impact ability to ship scanners and affect revenue.