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Side-by-side financial comparison of QT IMAGING HOLDINGS, INC. (QTI) and SWK Holdings Corp (SWKH). Click either name above to swap in a different company.
SWK Holdings Corp is the larger business by last-quarter revenue ($8.7M vs $8.3M, roughly 1.1× QT IMAGING HOLDINGS, INC.). On growth, QT IMAGING HOLDINGS, INC. posted the faster year-over-year revenue change (877.2% vs -29.7%).
QT Imaging Holdings, Inc. is a medical technology company that designs, manufactures and commercializes non-invasive medical imaging systems primarily for breast health diagnostics. It serves healthcare providers, clinics and medical institutions across key markets including North America, Europe and Asia-Pacific, focusing on improving the accuracy and accessibility of diagnostic imaging for patients.
SWK Holdings Corp is a specialty finance firm focused on the healthcare and life sciences sectors. It provides tailored financing solutions including royalty monetization, structured debt, and asset-backed lending to biotech, pharmaceutical, medical device and diagnostic companies, with its core market centered in North America.
QTI vs SWKH — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $8.3M | $8.7M |
| Net Profit | $-1.4M | $-19.4M |
| Gross Margin | 38.0% | — |
| Operating Margin | -8.5% | 9.9% |
| Net Margin | -16.8% | — |
| Revenue YoY | 877.2% | -29.7% |
| Net Profit YoY | 60.2% | -430.2% |
| EPS (diluted) | $-1.00 | $-1.59 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $8.3M | $8.7M | ||
| Q3 25 | $4.2M | $10.9M | ||
| Q2 25 | $3.7M | $10.1M | ||
| Q1 25 | $2.8M | $11.8M | ||
| Q4 24 | — | $12.4M | ||
| Q3 24 | — | $10.4M | ||
| Q2 24 | $1.7M | $10.8M | ||
| Q1 24 | $1.4M | $11.4M |
| Q4 25 | $-1.4M | $-19.4M | ||
| Q3 25 | $-4.6M | $8.8M | ||
| Q2 25 | $-4.0M | $3.5M | ||
| Q1 25 | $-11.1M | $4.5M | ||
| Q4 24 | — | $5.9M | ||
| Q3 24 | — | $3.5M | ||
| Q2 24 | $-1.2M | $3.7M | ||
| Q1 24 | $-628.6K | $468.0K |
| Q4 25 | 38.0% | — | ||
| Q3 25 | 43.0% | — | ||
| Q2 25 | 49.9% | — | ||
| Q1 25 | 64.7% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 51.0% | — | ||
| Q1 24 | 55.8% | — |
| Q4 25 | -8.5% | 9.9% | ||
| Q3 25 | -39.4% | 61.3% | ||
| Q2 25 | -28.5% | 46.1% | ||
| Q1 25 | -37.2% | 68.6% | ||
| Q4 24 | — | 44.7% | ||
| Q3 24 | — | 39.2% | ||
| Q2 24 | -129.5% | 8.3% | ||
| Q1 24 | -409.5% | 9.5% |
| Q4 25 | -16.8% | — | ||
| Q3 25 | -108.7% | 80.7% | ||
| Q2 25 | -109.3% | 35.2% | ||
| Q1 25 | -397.9% | 38.4% | ||
| Q4 24 | — | 47.5% | ||
| Q3 24 | — | 33.3% | ||
| Q2 24 | -72.9% | 33.9% | ||
| Q1 24 | -46.1% | 4.1% |
| Q4 25 | $-1.00 | $-1.59 | ||
| Q3 25 | $-0.47 | $0.72 | ||
| Q2 25 | $-0.14 | $0.29 | ||
| Q1 25 | $-0.40 | $0.37 | ||
| Q4 24 | — | $0.47 | ||
| Q3 24 | — | $0.28 | ||
| Q2 24 | $-0.30 | $0.30 | ||
| Q1 24 | $-0.05 | $0.04 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $10.4M | $42.8M |
| Total DebtLower is stronger | $10.1M | $33.0M |
| Stockholders' EquityBook value | $6.4M | $235.1M |
| Total Assets | $23.0M | $272.4M |
| Debt / EquityLower = less leverage | 1.57× | 0.14× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $10.4M | $42.8M | ||
| Q3 25 | — | $10.2M | ||
| Q2 25 | — | $8.0M | ||
| Q1 25 | — | $29.8M | ||
| Q4 24 | — | $5.9M | ||
| Q3 24 | — | $17.2M | ||
| Q2 24 | — | $5.5M | ||
| Q1 24 | — | $5.5M |
| Q4 25 | $10.1M | $33.0M | ||
| Q3 25 | $15.1M | $33.0M | ||
| Q2 25 | $10.1M | $33.0M | ||
| Q1 25 | $10.2M | $33.0M | ||
| Q4 24 | — | $33.0M | ||
| Q3 24 | — | $33.0M | ||
| Q2 24 | $11.7M | $33.0M | ||
| Q1 24 | $11.7M | $33.0M |
| Q4 25 | $6.4M | $235.1M | ||
| Q3 25 | $-9.1M | $254.2M | ||
| Q2 25 | $-324.3K | $246.5M | ||
| Q1 25 | $-20.2M | $292.7M | ||
| Q4 24 | — | $288.7M | ||
| Q3 24 | — | $283.4M | ||
| Q2 24 | $-6.2M | $282.8M | ||
| Q1 24 | $-4.9M | $279.9M |
| Q4 25 | $23.0M | $272.4M | ||
| Q3 25 | $12.1M | $289.4M | ||
| Q2 25 | $11.6M | $285.7M | ||
| Q1 25 | $10.9M | $331.3M | ||
| Q4 24 | — | $332.2M | ||
| Q3 24 | — | $321.3M | ||
| Q2 24 | $10.8M | $321.0M | ||
| Q1 24 | $12.9M | $322.0M |
| Q4 25 | 1.57× | 0.14× | ||
| Q3 25 | — | 0.13× | ||
| Q2 25 | — | 0.13× | ||
| Q1 25 | — | 0.11× | ||
| Q4 24 | — | 0.11× | ||
| Q3 24 | — | 0.12× | ||
| Q2 24 | — | 0.12× | ||
| Q1 24 | — | 0.12× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-3.1M | $27.3M |
| Free Cash FlowOCF − Capex | — | $26.8M |
| FCF MarginFCF / Revenue | — | 308.1% |
| Capex IntensityCapex / Revenue | — | 5.9% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $43.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-3.1M | $27.3M | ||
| Q3 25 | $-878.8K | $906.0K | ||
| Q2 25 | $-1.4M | $7.8M | ||
| Q1 25 | $-3.5M | $8.3M | ||
| Q4 24 | — | $23.0M | ||
| Q3 24 | — | $6.3M | ||
| Q2 24 | $-979.6K | $5.4M | ||
| Q1 24 | $-6.0M | $4.4M |
| Q4 25 | — | $26.8M | ||
| Q3 25 | — | $557.0K | ||
| Q2 25 | — | $7.7M | ||
| Q1 25 | — | $8.2M | ||
| Q4 24 | — | $22.9M | ||
| Q3 24 | — | $6.3M | ||
| Q2 24 | — | $5.4M | ||
| Q1 24 | — | — |
| Q4 25 | — | 308.1% | ||
| Q3 25 | — | 5.1% | ||
| Q2 25 | — | 77.0% | ||
| Q1 25 | — | 69.1% | ||
| Q4 24 | — | 185.3% | ||
| Q3 24 | — | 60.4% | ||
| Q2 24 | — | 49.7% | ||
| Q1 24 | — | — |
| Q4 25 | — | 5.9% | ||
| Q3 25 | 0.0% | 3.2% | ||
| Q2 25 | — | 0.6% | ||
| Q1 25 | — | 0.8% | ||
| Q4 24 | — | 1.1% | ||
| Q3 24 | — | 0.3% | ||
| Q2 24 | — | 0.2% | ||
| Q1 24 | — | 0.0% |
| Q4 25 | — | — | ||
| Q3 25 | — | 0.10× | ||
| Q2 25 | — | 2.21× | ||
| Q1 25 | — | 1.82× | ||
| Q4 24 | — | 3.93× | ||
| Q3 24 | — | 1.82× | ||
| Q2 24 | — | 1.47× | ||
| Q1 24 | — | 9.47× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
QTI
Segment breakdown not available.
SWKH
| Finance Receivables Segment | $8.4M | 96% |
| Other | $329.0K | 4% |
