Company: PFSA
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001213900-25-112723
Chunk: 76

Company: Profusa, Inc.
Filing Date: 2025-11-19
Form: 10-Q
Item: Part I, Item 1
Chunk 76
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) 
    $(9,291) 
     508%
  
    Net cash used in investing activities 
    $(1,000) 
    $—  
    $(1,000) 
     - 
  
    Net cash provided by financing activities 
    $14,937  
    $1,826  
    $13,111  
     718%

Operating Activities

Cash used in operating activities for the nine months ended September
30, 2025 of $11.1 million was primarily driven by our net loss of $27.3 million, adjusted for non-cash charges of $10.7 million and net
cash inflows of $5.4 million provided by changes in our operating assets and liabilities. Non-cash charges primarily consisted of non-cash
interest expense of $2.5 million, the change in the fair value of related party convertible loan of $0.2 million, net with $7.6 million
in non-cash issuance of shares through the private placement and issuance of shares associated with transaction costs, 1.0 million in
non-cash issuance of ELOC Warrants, stock-based compensation of $0.7 million, and offset by a gain on fair value of warrant liabilities
of $0.9 million. The main driver of the cash inflows from the changes in operating assets and liabilities was primarily related to an
increase in accounts payable of $3.2 million and in accrued liabilities of $2.3 million and a decrease in prepaid expenses and other current
assets of less than $0.1 million.

Cash used in operating activities for the nine months ended September
30, 2024 of $1.8 million was primarily driven by our net loss of $7.0 million, adjusted for non-cash charges of $3.6 million and net cash
inflows of $1.5 million provided by changes in our operating assets and liabilities. Non-cash charges primarily consisted of non-cash
interest expense of $3.2 million, partially offset by change in the fair value of related party convertible loan of $0.3 million. The
main driver of the cash inflows from the changes in operating assets and liabilities was primarily related to an increase in accounts
payable of $0.7 million and in accrued liabilities of $1.1 million and a decrease in prepaid expenses and other current assets of $0.3
million.

Financing Activities

Cash provided by financing activities was $14