Company: PFSA
Filing Date: 2025-08-11
Form Type: S-1
Source: 0001213900-25-073872
Chunk: 277

Company: Profusa, Inc.
Filing Date: 2025-08-11
Form: S-1
Chunk 277
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 statement income for taxable years beginning after December 31, 2022. The Company does not expect to incur this tax in the foreseeable future. Under the Tax Cuts and Jobs Act of 2017, research and development costs are no longer fully deductible and are required to be capitalized and amortized for U.S. tax purposes effective January 1, 2022. The mandatory capitalization requirement increases our deferred tax assets and is fully offset with the valuation allowance. Note 14 — Segments The Company operates as oneoperating 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 statement of operations in order to make decisions about allocating resources and assessing performance for the entire Company. The CODM also utilizes the Company’s long -rangeplan, which includes product development roadmaps and long -rangefinancial 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 F-28

PROFUSA, INC. AND SUBSIDIARY
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Note 14 — Segments (cont.)

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 Statements of Operations. The CODM reviews significant expenses within both the research and development and the general and administrative categories.

|                                                                                                                                       |     | Year Ended   
 December 31, |   2024 |   |     |   |    2023 |   |
|:--------------------------------------------------------------------------------------------------------------------------------------|:----|:-------------|-------:|:--|:----|:--|--------:|:--|
| Government grant revenue                                                                                                              |     | $            |    100 |   |     | $ |      45 |   |
| Operating expenses:                                                                                                                   |     |              |        |   |     |   |         |   |
| Research personnel compensation costs, including stock-based compensation                                                             |     |              |  1,350 |   |     |   |   1,641 |   |
| CRO and regulatory costs                                                                                                              |     |              |     36 |   |     |   |     186 |