Company: PFSA
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001213900-25-112723
Chunk: 181

Company: Profusa, Inc.
Filing Date: 2025-11-19
Form: 10-Q
Item: Part I, Item 8
Chunk 181
---
 currently estimable.

Note 12 – Segments

The Company operates as one operating segment. The Company’s
chief operating decision maker (“CODM”) is its Chief Executive Officer, Ben Hwang, who reviews financial information presented
on a consolidated net loss basis as reported on the consolidated condensed statement of operations and comprehensive loss in order to
make decisions about allocating resources and assessing performance for the entire Company. The CODM also utilizes the Company’s
long-range plan, which includes product development roadmaps and long-range financial models, as a key input to resource allocation. The
CODM function approves of key operating and strategic decisions. The CODM function views the Company’s operations and manages its
business on a consolidated basis and as a single reportable operating segment. The CODM function is regularly provided with the following
significant segment expenses. Significant expenses include research and development and general and administrative expenses, which are
each separately presented in the Company’s consolidated condensed statements of operations and comprehensive loss. The CODM reviews
significant expenses within both the research and development and the general and administrative categories. Other segment items within
net loss include interest income, interest expense and gain (loss) on change in fair value of related party loan. See the consolidated
condensed financial statements for other financial information regarding the Company’s operating segment.

34

    Three Months Ended September 30, 

    2025  
    2024 
  
    Government grant revenue 
    $-  
    $75 
  
    Operating expenses: 

    Research personnel compensation costs, including stock-based compensation 
     287  
     380 
  
    CRO and regulatory costs 
     315  
     - 
  
    Administrative personnel compensation costs, including stock-based compensation 
     4,125  
     302 
  
    Rent and office costs 
     97  
     34 
  
    Legal and accounting costs 
     976  
     426 
  
    Transaction costs 
     15,060  
     - 

    Other expenses(1) 
     848  
     36 
  
    Total segment expenses 
     21,708  
     1,178 
  
    Loss from operations 
     (21,708) 
     (1,103)
  
    Other income (expense) 
     -  
     - 
  
    Gain (loss) on change in the fair value of related party