v3.25.2
Segment Information
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company has one operating and reportable segment, which is engaged in the development and commercialization of the Company’s QT Breast Scanner. The Company’s Chief Executive Officer has been determined to be the chief operating decision maker (“CODM”) in accordance with the authoritative guidance on segment reporting. The CODM assesses performance, makes operating decisions and decides how to allocate resources based on net loss that is reported on the consolidated statements of operations and comprehensive loss. The measure of segment assets is reported on the condensed consolidated balance sheets as total consolidated assets.

The following table presents information about reported segment revenue, significant segment expenses, and segment net loss for the three and six months ended June 30, 2025 and 2024:

Three Months Ended
June 30,		Six Months Ended
June 30,
 2025202420252024
Revenue$3,659,414 $1,714,035 $6,457,829 $3,076,198 
Less:
Cost of revenue1
1,832,337 839,484 2,818,890 1,441,567 
Research and development1
900,694 925,082 1,752,946 1,567,628 
Selling, general and administrative1
1,969,362 2,169,541 3,970,703 7,865,752 
Other (expense) income, net(9,498)187,394 8,739,955 208,325 
Change in fair value of warrant liability
2,796,350 (213,942)3,501,079 (190,819)
Change in fair value of derivative liability
— (1,729,700)(101,300)(4,712,800)
Change in fair value of earnout liability
(210,000)(310,000)(160,000)(2,920,000)
    Interest expense, net378,902 1,095,050 1,070,289 1,694,009 
    Income tax expense2,782 — 2,782 — 
Consolidated net loss
$(4,001,515)$(1,248,874)$(15,137,515)$(1,877,464)
1Includes total salaries, bonuses, employee benefits and stock-based compensation of $1,766,695 and $1,366,003 for the three months ended June 30, 2025 and 2024, respectively. Total salaries, bonuses, employee benefits and stock-based compensation were $3,388,845 and $2,137,765 for the six months ended June 30, 2025 and 2024, respectively.

All of the Company’s long-lived assets are located in the United States.

Refer to Note 12 - Revenue Recognition, for revenue by geography information.