QT Imaging Holdings

QTI

Medical - Devices · Healthcare

Price

$2.91

+0.13 (+4.68%)

Market Cap

$40.1M

Exchange

NASDAQ

Winston Score

Winston is worried

Below-average fundamentals — multiple weak pillars.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Weak

Growth

Mixed

Cash Flow

Weak

Stability

Weak

Valuation

Data not available

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Share count falling — buybacks

−50.9% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 21.3M (2021) → 10.5M (2025)

Winston Score History

The full picture

QT Imaging Holdings, Inc. engages in the manufacturing, research, and development of automated breast imaging system for producing high-resolution transmission ultrasound images. It offers QT Ultrasound Breast Scanner that provides reflection-mode and transmission-mode images of a patient's breast. QT Imaging Holdings, Inc. was founded in 2011 and is based in Novato, California.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+103.2% YoY

YoY Growth Rate

Strong revenue growth

EPS Growth

-435.7% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$4M/ year

↑ Rising (+20% vs prior year)

20.8% of revenue

In line with sector average (18%)

Investing heavily in future products and technology

Insider Activity

44.4%ownership

↑ Rising

Insiders increasing their stake — aligned with shareholders

Cash Runway

~7 months

$11M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Strong grower

QT Imaging Holdings is growing revenue at 103% year-over-year. The Winston Score penalises unprofitable companies, but revenue at this pace tells a different story — this is a company still in "build mode."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

41.2%

Healthy — 41.2% gross margin

Profit after running costs

Operating Margin

-25.1%

Losing money on operations — -25.1%

Return on the money invested

ROCE

-74.7%

Weak — -74.7% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

+241.1%

Fast-growing sales (+241.1% YoY)

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

3/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

-45.2%

Burning cash (-45.2%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

1.93

Elevated debt (1.93)

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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