Company: PFSA
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001213900-25-112723
Chunk: 140

Company: Profusa, Inc.
Filing Date: 2025-11-19
Form: 10-Q
Item: Part I, Item 8
Chunk 140
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 to stockholders’ equity for the three and nine months ended September 30, 2025 and 2024, and its cash
flows for the nine months ended September 30, 2025 and 2024. The results for the three and nine months ended September 30, 2025, are not
necessarily indicative of results to be expected for the year ending December 31, 2025, or any other interim periods, or any future year
or period. All amounts included herein have been rounded except where otherwise stated. As figures are rounded, numbers presented throughout
this document may not add up precisely to the totals we provide and percentages may not precisely reflect the absolute figures. Certain
disclosures have been consolidated or omitted from the unaudited interim condensed consolidated financial statements.

The accompanying interim unaudited condensed consolidated financial
statements should be read in conjunction with the audited consolidated financial statements and the related disclosures as of December
31, 2024 and for the year then ended as found in the Form S-4/A filed by the Company with the SEC on April 3, 2025, as further amended.

Use of Estimates

The preparation of condensed consolidated financial statements in conformity
with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure
of contingent assets and liabilities and the reported amounts of revenue and expenses in the condensed consolidated financial statements
and accompanying notes. The Company’s management regularly assesses these estimates, including those related to accrued liabilities,
valuation of the convertible debt, and senior notes, warrants, milestone based earn-outs, valuation allowance for deferred tax assets,
and valuation of stock-based awards. Actual results could differ from these estimates, and such differences could be material to the Company’s
financial position and results of operations.

Segment Information

ASC 280, “Segment Reporting” (“ASC 280”), defines
operating segments as components of an enterprise where discrete financial information is available that is evaluated regularly by the
chief operating decision-maker (“CODM”) in deciding how to allocate resources and in assessing performance. The Company operates
as a single operating segment. The Company’s CODM is the chief executive officer, who has ultimate responsibility for the operating
performance of the Company and the allocation of resources. The CODM uses cash flows as the primary measure to manage the business and
does not segment the business for internal reporting or decision making.

Concentration of Credit Risk

Financial instruments that potentially subject the Company to a concentration