QT Imaging Gains Category 3 CPT Code as 2025 Margin Drops to 45%
QT Imaging's Q4 2025 report highlighted record revenue growth, while gross margin fell to 45% from 54% due to elevated contract manufacturing costs. The company secured a Category 3 CPT code for its 3D breast imaging platform and is pursuing approvals in Gulf states and for a CE mark.
1. Q4 Financial Performance
QT Imaging reported record revenue growth in Q4 2025 while gross margin declined to 45% from 54% in 2024, driven by higher contract manufacturing costs.
2. CPT Code Milestone
The company secured a new Category 3 CPT code for its 3D breast imaging platform, enabling clinical reimbursement and accelerating hospital adoption through its U.S. distribution partner.
3. Commercial and Clinical Expansion
Installations are ramping up via NX Imaging, and management sees a significant biopharma opportunity for non-radiative quantitative imaging in oncology studies, with plans to join clinical trials.
4. Regulatory Approval Progress
UAE regulatory approval has been obtained, with submissions pending in Bahrain, Qatar, Kuwait and Oman; the CE mark filing will focus first on the scanner, followed by biomarkers.