Company: PFSA
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001213900-25-112723
Chunk: 193

Company: Profusa, Inc.
Filing Date: 2025-11-19
Form: 10-Q
Item: Part I, Item 8
Chunk 193
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578  
     181%
  
    Gain on change in fair value of warrant liabilities 
     884  
     -  
     884  
     100%
  
    Loss on change in fair value of digital assets 
     (28) 
     -  
     (28) 
     100%
  
    Interest expense (including related parties amounts of $629 and $575 for the three months ended September 30, 2025 and September 30, 2024, and $1,962 and $1,774 for the nine months ended September 30, 2025 and September 30, 2024, respectively) 
     (169) 
     (1,073) 
     904  
     -84%
  
    Financing costs 
     (1,443) 
     -  
     (1,443) 
     100%
  
    Other income 
     15  
     (1) 
     16  
     -1600%
  
    Total other expense, net 
     (483) 
     (1,394) 
     911  
     -65%
  
    Net loss and comprehensive loss 
     (22,192) 
     (2,497) 
     (19,695) 
     789%

Revenue – Grant revenue was recognized in 2024, while
no grant revenue was recognized in 2025, as the Company focused on closing the Business Combination.

Research and Development – Research and development expenses
increased by $311 thousand or 76% during the three months ended September 30, 2025 due to an increase in personnel and regulatory fees.

General and Administrative – General and administrative
expenses increased by $20,220 thousand, or 2636%, to $20,987 thousand during the three months ended September 30, 2025 from $767 thousand
during the three months ended September 30, 2024. The increase was driven primarily by the increase in transaction costs of $15,219 thousand
related to the closing of the Business Combination, an increase related to stock based compensation relating to the non-recourse note
settlement of $428 thousand, an increase in insurance and legal fees of $294 thousand, an increase in accounting costs of $457 thousand
as a result of increased audit fees, $700 thousand increase in general other expenses such as professional