QT Imaging Q1 revenue jumps 133% on higher scanner shipments

Overview

• U.S. breast imaging device maker's Q1 revenue rose 133% yr/yr on higher scanner shipments

• Company posted Q1 net loss of $3.4 mln, or $0.25 per share

• Extended senior secured term loan maturity by two years to March 2029

Outlook

• Company reaffirms 2026 revenue guidance of approximately $39 mln

Result Drivers

• SCANNER SHIPMENTS - Revenue growth attributed to shipment of 13 Breast Acoustic CT scanners, up from six a year earlier

• GROSS MARGIN DECLINE - Lower gross margin due to absence of sales of depreciated scanners seen in prior-year period

• OPERATING EXPENSES - Increase in operating expenses driven by higher employee compensation and professional and outside service costs

Company press release: ID:nBw5wFLjpa

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• Wall Street's median 12-month price target for QT Imaging Holdings Inc is $11.60, about 52.8% above its May 12 closing price of $7.59

• The stock recently traded at 348 times the next 12-month earnings vs. a P/E of 45 three months ago

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