QT Imaging

What QT Imaging does

QT Imaging Holdings, Inc. (NASDAQ: QTI) is a Novato, California-based medical device company that developed and commercializes the FDA 510(k)-cleared QTI Breast Acoustic CT Scanner, the first true 3D transmission ultrasound breast imaging system. The scanner uses low-frequency sound waves (300 kHz to 2.0 MHz) with a 2048-element PMN-PT receiver array and proprietary nonlinear inverse scattering reconstruction algorithms to produce quantitative 3D volumetric images of the breast without ionizing radiation, compression, or contrast agents. Its core differentiator is a set of Speed of Sound, attenuation, and reflection biomarkers demonstrating less than 1% measurement variability versus 11-22% for breast MRI, supporting screening of dense breast tissue, supplemental workup after inconclusive mammograms, and treatment monitoring for breast cancer patients undergoing neoadjuvant chemotherapy.

The business generates revenue primarily through hardware sales of the Breast Acoustic CT Scanner (manufactured at the Novato facility and via Canon Medical Systems in Japan), recurring single-use consumables per scan, and a growing cloud-based SaaS subscription tier (QTI Cloud Platform / InteleShare) that delivers biomarker software, AI-enabled analytics, and integration with the QT Imaging-Olea multimodality viewer. U.S. commercial operations are transitioning from a distributor-led model with NXC Imaging (a Canon Medical USA subsidiary) to a hybrid direct/distributor model with newly hired regional sales VPs, while international markets are served through exclusive distribution agreements with Gulf Medical Co. (Saudi Arabia) and Al Naghi Medical Co. (UAE). The platform achieved the first CPT code (Category III X579T) for the procedure, effective January 1, 2027, and secured regulatory clearances in the U.S., Saudi Arabia, UAE, and Israel.

QT Imaging became publicly traded in March 2024 via a business combination with GigCapital5 (a SPAC), was relisted on the Nasdaq Capital Market in January 2026 following a 3:1 reverse stock split, and has raised approximately $43 million of capital across 2025-2026 (including an $18M PIPE anchored by Sio Capital Management and a $10M underwritten public offering in May 2026) to scale production toward 80 scanner shipments in 2026 versus 12 in 2024. The company reports 11-50 employees, full-year 2025 revenue of $18.9 million, Q1 2026 revenue of $6.5 million, and 2026 revenue guidance of approximately $39 million, with EBITDA losses of -$18.3 million in 2025 reflecting growth-stage investment in commercial scale-up.

Name

QT Imaging

Legal name

QT Imaging Holdings, Inc.

Website

https://qtimaging.com

Company type

Public

Founded year

2011

Operating status

Operating

Headcount range

11–50 employees

Short description

QT Imaging (NASDAQ: QTI) develops and sells the FDA-cleared QTI Breast Acoustic CT Scanner, a radiation-free 3D transmission ultrasound system for breast imaging, serving breast imaging centers, oncology practices, and IDNs in the U.S., Saudi Arabia, UAE, and Israel.

Ownership category

akta.pro rank

Product category

Medical Imaging Equipment

NAICS

Electromedical and Electrotherapeutic Apparatus Manufacturing (334510), Navigational, Measuring, Electromedical, and Control Instruments Manufacturing (3345)

SIC

Surgical & Medical Instruments & Apparatus (3841)

akta.pro primary industry

Mammography & Breast Imaging Systems (HLAHABAF)

akta.pro secondary industry

Universal Viewers & Enterprise Imaging Access (Zero-footprint/Diagnostic) (HLACALAD)

Keywords

• Breast imaging systems
• Medical ultrasound devices
• Radiation-free diagnostics
• Quantitative biomarkers
• AI image analysis

Headquarters

HQ city

Novato

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure

Revenue model

1. Hardware Sales - Breast Acoustic CT Scanner: Sale of QTI Breast Acoustic CT Scanners to healthcare facilities. Scanners are manufactured by QTI in Novato, CA and Canon Medical in Japan. Distribution through direct sales team and channel partners including NXC Imaging (US), Gulf Medical Co. (Saudi Arabia), and Al Naghi Medical Co. (UAE).
2. Cloud SaaS Platform Subscriptions: AI/Cloud SaaS platform with subscription model including per-scan, per-facility, and per-feature pricing tiers. Delivers biomarker software applications and future AI-enabled analytical capabilities through cloud-based InteleShare platform.
3. Consumables - Breast Retention Devices: Single-use consumable accessories required for each scan procedure.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels6 records

Core offering

QT Imaging develops and sells the FDA 510(k)-cleared QTI Breast Acoustic CT Scanner, a 3D transmission ultrasound system that produces radiation-free, compression-free, contrast-free volumetric breast images and quantitative biomarkers (speed of sound, attenuation, volumetric measurements). The company also distributes supporting software products including QTviewer and the QT Imaging-Olea Viewer, and operates the QTI Cloud Platform (InteleShare) as a subscription-based SaaS for image analytics, remote reading, and future AI/ML-enabled applications.

Product overview

QT Imaging offers a unified breast health imaging platform centered on its FDA 510(k)-cleared QTI Breast Acoustic CT Scanner — a radiation-free, compression-free 3D ultrasound tomographic system that generates quantitative volumetric images and biomarkers. The platform includes complementary software modules: QTviewer for image display and analysis, the QT Imaging-Olea Viewer for multimodality breast imaging integration, and the QTI Cloud Platform (InteleShare) for cloud-based analytics and AI-powered interpretation. The company recently achieved AMA Category III CPT code approval (X579T, effective January 2027) and has received regulatory clearances in the U.S., Saudi Arabia, UAE, and Israel for its scanner technology.

Differentiator

Problem solved

Functional benefit

Brands

• QTscan: Brand name for the Breast Acoustic CT Scanner imaging procedure
• QTI Breast Acoustic CT Scanner
• QT Imaging-Olea Viewer
• QTviewer
• InteleShare
• QT Imaging Olea Vision

Products and services

• QTI Breast Acoustic CT Scanner FDA 510(k)-cleared 3D ultrasound tomographic breast imaging system that generates true volumetric images without radiation, compression, or contrast agent injection. Uses low-frequency sound waves (300 kHz to 2.0 MHz) with five ultrasound transducer arrays for transmission and reflection imaging, producing quantitative biomarkers including speed of sound, attenuation, and volumetric measurements. Sold to healthcare facilities (breast imaging centers, radiology practices, IDNs) through exclusive distribution partners NXC Imaging (U.S.), Gulf Medical Co. (Saudi Arabia), and Al Naghi Medical Co. (UAE).
• QTviewer Software Standalone software application for storing and displaying QTscan images generated by the QTI Breast Acoustic CT Scanner. Enables radiologists to view 3D volume images in all orthogonal views (coronal, axial, sagittal) concurrently with customizable views, faster response time, and a research mode. Sold as an add-on to scanner purchasers.
• QT Imaging-Olea Viewer Unified multimodality breast imaging platform developed in collaboration with Olea Medical. Enables clinicians to view and correlate findings across multiple imaging sources (mammography, digital breast tomosynthesis, MRI, ultrasound) within a single configurable 3D/4D DICOM viewer. Incorporates advanced 3D rendering, quantitative assessment, subtraction tools, secure multi-institutional collaboration, and standardized clinical trial support.
• QTI Cloud Platform (InteleShare) Cloud-based SaaS platform for image analytics, remote reading, and population-scale screening, deployed via strategic collaboration with Intelerad Medical Systems (InteleShare). Enables research institutions and clinical sites to upload, store, anonymize, and share imaging data while maintaining data privacy compliance. Designed to deliver future AI/ML algorithms including automated lesion segmentation and computer-aided diagnosis to all connected QTI Breast Acoustic CT systems. Offered under subscription pricing with per-scan, per-facility, and per-feature tiers.
• Breast Retention Devices (single-use consumables) Single-use consumable accessories required for each QTscan imaging procedure, sold as recurring revenue tied to scanner utilization.

Quantifiable outcome

• Less than 1% variability in Speed of Sound measurements compared to 11-22% for breast MRI benchmarks
• +4 more outcomes

Named customers10 records

Segments5 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

AI capability4 records

Feature7 records

Partnerships

Nine partnerships are on record, tiered minor, strategic and core.

• Rambam Health Care CampusminorStrategic or Co-development Partner · 28 July 2026Israel's leading academic medical center. Clinical research collaboration to evaluate QT Imaging's Breast Acoustic CT technology in women with hereditary breast cancer risk. Israel recognized for leadership in breast cancer research, clinical innovation, and precision medicine with established national BRCA1/2 screening program.
• Olea MedicalstrategicTechnology or Integration · 28 January 2026Collaboration to integrate advanced visualization, quantitative analytics, and AI-ready imaging capabilities into QT Imaging's Cloud SaaS Platform. Partnership enables distribution of QT Imaging Olea Vision software, a customizable 3D/4D DICOM viewer integrating multiple imaging modalities including mammography, ultrasound, MR, and QT Imaging studies. Supports multimodality breast imaging workflows with subtraction tools, multi-institutional collaboration, and standardized clinical trial support.
• Al Naghi Medical Co.coreChannel Partner/ Reseller/ Distributor · 20 January 2026Exclusive distribution partner for the United Arab Emirates territory. UAE Emirates Drug Establishment clearance received March 2026. Distribution agreement establishes $24 million revenue pipeline through 2028 with committed minimum of 43 scanners. Breast cancer accounts for 25% of all cancer cases in the UAE.
• Intelerad Medical SystemsstrategicTechnology or Integration · 28 October 2025Strategic collaboration to deploy InteleShare Research PACS and Cloud PACS across QT Imaging's clinical research and commercial networks. Partnership enables research institutions and clinical sites to upload, store, anonymize, and share imaging data while maintaining data privacy compliance. QT Imaging plans to leverage cloud infrastructure to deliver future AI/ML algorithms including automated lesion segmentation and computer-aided diagnosis to all connected QTI Breast Acoustic CT systems.
• NXC ImagingcoreChannel Partner/ Reseller/ Distributor · 25 August 2025Exclusive U.S. distribution partner, a wholly owned subsidiary of Canon Medical Systems USA. NXC Imaging distributes QTI Breast Acoustic CT Scanners throughout the United States under a distribution agreement with committed minimum order quantities of 60 scanners. QT Imaging is transitioning to an integrated commercial model while continuing collaboration with NXC under existing distribution arrangement.
• Gulf Medical Co.coreChannel Partner/ Reseller/ Distributor · 25 August 2025Exclusive distribution partner for Saudi Arabia. SFDA regulatory clearance received June 2026 enabling commercialization throughout the Kingdom. Breast cancer is the most commonly diagnosed cancer among women in Saudi Arabia, and the country is actively investing in healthcare modernization under Vision 2030.
• Canon Medical Systems CorporationcoreOEM/ Whitelabel/ Licensing Partner · 13 October 2022Contract manufacturing partner for QTI Breast Acoustic CT Scanners. Canon Medical manufactures scanners in Japan alongside QTI's manufacturing in Novato, CA. NXC Imaging is a wholly owned subsidiary of Canon Medical Systems USA.
• University of Illinois Urbana-ChampaignstrategicStrategic or Co-development Partner · 13 October 2022Research collaboration partner in $3.1 million NCI grant for breast cancer treatment monitoring. Collaboration involves Department of Electrical and Computer Engineering and Grainger College of Engineering. Five-year NIH research grant to develop imaging technology for assessing tumor response to neoadjuvant chemotherapy.
• Sunnybrook Health Sciences CentrestrategicStrategic or Co-development Partner · 13 October 2022Research collaboration partner in $3.1 million NCI grant. Department of Radiation Oncology and Radiation Treatment Program at Sunnybrook, the largest cancer center in Canada. Five-year NIH/NCI research grant for developing imaging approach capable of accurate and early identification of response of breast cancer patients to neoadjuvant chemotherapy.

Scale indicators15 records

Recent moves10 records

Expansion highlights7 records

Direct peers

• Hologic: Hologic is the dominant player in breast imaging, with its Dimensions mammography and 3Dimensions digital breast tomosynthesis platforms, and is the most direct incumbent QT Imaging competes with for breast cancer screening budgets at US breast imaging centers and IDNs.
• Delphinus Medical Technologies: Delphinus offers SoftVue, a 3D whole breast ultrasound tomography system for dense breast supplemental screening, making it one of the closest direct competitors to QT Imaging's transmission ultrasound technology for the same dense-breast and supplemental-screening use case.

Broad incumbents

• GE HealthCare: GE HealthCare offers a broad breast imaging portfolio including Senographe mammography systems and ultrasound, and competes with QT Imaging for breast imaging equipment dollars at large hospital systems and IDNs globally.
• Philips: Philips offers mammography and ultrasound imaging systems and integrates them into enterprise imaging portfolios that compete head-to-head with QT Imaging's QTI Breast Acoustic CT Scanner in IDN and large radiology group purchasing.
• Siemens Healthineers: Siemens Healthineers manufactures MAMMOMAT mammography systems and broader imaging equipment, overlapping with QT Imaging in hospital and IDN breast imaging procurement decisions.
• Fujifilm: Fujifilm's digital mammography and women's health imaging systems compete with QT Imaging for breast imaging center and IDN capital equipment budgets, particularly in price-sensitive accounts.

Emerging players

• iCAD: iCAD provides AI-based breast cancer detection and risk-stratification software (ProFound AI) used with mammography, overlapping with QT Imaging's AI-powered lesion classification and biomarker analytics on the software layer.
• Densitas: Densitas provides AI-driven breast density and image quality analytics integrated with mammography programs, representing a software-layer peer to QT Imaging's quantitative biomarker and AI analytics strategy.
• Volpara Health: Volpara Health provides AI-based breast density assessment and risk analytics used alongside mammography, addressing the same dense-breast supplemental screening workflow QT Imaging targets with transmission ultrasound.
• Seno Medical Instruments: Seno Medical develops optoacoustic imaging for breast cancer diagnosis as an alternative to traditional biopsy, targeting the same breast imaging clinical decision points where QT Imaging's Breast Acoustic CT Scanner competes.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key highlights7 records

Customer concentration

• Xx.com/QTIHoldings
• LinkedInlinkedin.com/company/qt-imaging-holdings
• Instagraminstagram.com/qtimaging
• Facebookfacebook.com/qtimaging

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries1 record

Funding overview

Funding rounds6 records

Investors4 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about QT Imaging