Company: PFSA
Filing Date: 2025-10-29
Form Type: 424B3
Source: 0001213900-25-103174
Chunk: 32

Company: Profusa, Inc.
Filing Date: 2025-10-29
Form: 424B3
Chunk 32
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 competing products are lowered as a result, we may not be able to compete effectively.

If we are unable to successfully develop and effectively manage the introduction of new products, our business may be adversely affected.

We must successfully manage
introductions of new or advanced products and associated management services. Introductions of new or advanced products could also adversely
impact the commercialization of Lumee™ Oxygen Platform or other existing products to consumers. For instance, the introduction or
announcement of new or advanced products may shorten the life cycle of our existing products or reduce demand, thereby reducing any benefits
of successful new product introductions and potentially lead to challenges in managing write-downs or write-offs of inventory of existing
products. In addition, any new products may have higher manufacturing costs than legacy products, which could negatively impact our gross
margins and operating results. Accordingly, if we fail to effectively manage introductions of new or advanced products, our business may
be adversely affected.

We may experience challenges
managing the inventory of monitors and other items, which can lead to excess inventory and discounting of our products, or alternatively
insufficient inventory levels. Inventory levels in excess of consumer demand may result in inventory write-downs or write-offs, product
expiration and the sale of inventory at discounted prices, which would affect our gross margin and could impair the strength of our brand.
Reserves and write-downs for rebates, promotions and excess inventory will be recorded based on our forecast of future demand.

Actual future demand could be less than our forecast,
which may result in additional reserves and write-downs in the future, or actual demand could be stronger than our forecast, which may
result in a reduction to previously recorded reserves and write-downs in the future and increase the volatility of our operating results.

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If we are unable to establish and maintain adequate sales and marketing capabilities or enter into and maintain arrangements with third parties to sell and market our products, our business may be harmed.

We must continue to develop
and grow our sales and marketing organization and enter into partnerships or other arrangements to market and sell our products and/or
collaborate with third parties, including distributors and others, to commercialize the Lumee™ Oxygen Platform and to achieve commercial
success for any of our future products. Developing and managing a direct sales organization is a difficult, expensive and time-consuming
process.

To continue to develop our
sales and marketing organization to successfully achieve market awareness and sell our products, we must:

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