QT Imaging Holdings

QTI

Medical - Devices · Healthcare

Price

$3.28

-0.22 (-6.29%)

Market Cap

$89.0M

Exchange

NASDAQ

Winston Score

Winston is worried

Below-average fundamentals — multiple weak pillars.

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)

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.

Winston Score History

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

+133.3% YoY

YoY Growth Rate

Strong revenue growth

EPS Growth

+37.5% YoY

YoY Growth Rate

EPS growth accelerating

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

33.7%ownership

→ Flat

Insiders holding steady — not selling despite ability to

Cash Runway

~6 months

$7M 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 133% 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.

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Quality

Gross Margin

40.9%

Healthy — 40.9% gross margin

Operating Margin

-36.0%

Losing money on operations — -36.0%

ROCE

-24.5%

Weak — -24.5% return on capital

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

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Growth

Sales YoY

+258.8%

Fast-growing sales (258.8% YoY)

EPS YoY

N/A

Data not available

EPS Consistency

0/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

N/A

Data not available

FCF Margin

-40.7%

Burning cash (-40.7%)

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

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Stability

Debt / Equity

1.53

Elevated debt (1.53)

Interest Cover

N/A

Data not available

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Valuation

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

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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