Company: PFSA
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001213900-25-112723
Chunk: 0

Company: Profusa, Inc.
Filing Date: 2025-11-19
Form: 10-Q
Item: Part I, Item 1
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Item 1.  Financial Statements.

PROFUSA, INC. AND SUBSIDIARY 

CONDENSED CONSOLIDATED BALANCE SHEETS 

(IN THOUSANDS, EXCEPT SHARE AND PER SHARE AMOUNTS)

    September 30,  2025 (UNAUDITED)  
    December 31  2024 
  
    Assets 

    Current assets: 

    Cash 
     3,009  
     191 
  
    Prepaid expenses and other current assets 
     214  
     69 
  
    Digital assets 
     972  
     — 
  
    Total current assets 
     4,195  
     260 
  
    Deferred offering costs 
     —  
     2,757 
  
    Other non-current assets 
     55  
     56 
  
    Total assets 
     4,250  
     3,073 

    Liabilities, and stockholders’ deficit 

    Current liabilities: 

    Accounts payable 
     6,982  
     4,954 
  
    Excise tax payable 
     1,957  
     — 
  
    Accrued liabilities 
     7,848  
     3,968 
  
    Due to related party 
     41  
     — 
  
    Convertible notes payable 

    Convertible debt payable (including loans and notes payable to a related party of $4,127 and $25,056 as of September 30, 2025 and December 31, 2024, respectively) 
     4,281  
     45,921 
  
    Promissory notes (including notes payable to related parties of $878 and $850 as of September 30, 2025 and December 31, 2024, respectively) 
     1,045  
     910 
  
    PPP loan 
     1,386  
     1,376 
  
    Total current liabilities 
     23,540  
     57,129 
  
    Warrant liabilities at fair value 
     311  
     — 
  
    Loans payable - related party at fair value 
     14,359  
     — 
  
    Total liabilities 
     38,210  
     57,129 
  
    Commitments and contingencies (Note 7