QT Imaging (QTI) Q2 2026 Earnings Call: Revenue Up 103%, $39M Guidance Reaffirmed
Source Tradingkey
Key Takeaways
- QT Imaging generated Q2 2026 revenue of $7.4 million, up 103% from $3.7 million a year earlier, driven primarily by shipments of 15 Breast Acoustic CT scanners versus 8 in Q2 2025.
- Gross margin declined to 41% from 50%. Management said the Q2 2026 margin was consistent with its projections for U.S. sales, while the prior-year period benefited from lower weighted-average inventory costs.
- The company shipped 28 scanners and generated $14 million in revenue during the first half of 2026, compared with 14 scanners and $6.5 million in the first half of 2025.
- Management reaffirmed approximately $39 million in 2026 revenue guidance, based on distributor minimum order quantities and expected direct-sales contributions.
- QT Imaging plans to ship 15 scanners in the U.S. during Q3 and 17 during Q4. Management expects placements to increase across the second half.
- Cash and restricted cash totaled approximately $14.2 million as of August 7, 2026, following collection of the $7.4 million in accounts receivable reported at June 30.
Key Financial Data
| Metric | Q2 2026 | Q2 2025 | Change / Commentary |
|---|---|---|---|
| Revenue | $7.4 million | $3.7 million | Up 103% |
| Scanner shipments | 15 | 8 | Primary revenue growth driver |
| Gross margin | 41% | 50% | Prior-year margin benefited from lower weighted-average inventory costs |
| Operating expenses | $4.9 million | $2.9 million | Higher compensation, professional services and marketing costs |
| Operating loss | $1.9 million | $1.0 million | Improved from a $2.3 million loss in Q1 2026 |
| Net loss | $11.1 million | $4.0 million | Included an $8.3 million noncash debt extinguishment and modification loss |
| Accounts receivable | $7.4 million | — | Paid in early August 2026 |
| Cash and restricted cash | Approximately $14.2 million as of August 7 | — | Compared with approximately $11.0 million at June 30, 2026 |
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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