Company: PFSA
Filing Date: 2025-05-15
Form Type: 424B3
Source: 0001213900-25-044417
Chunk: 474

Company: Profusa, Inc.
Filing Date: 2025-05-15
Form: 424B3
Chunk 474
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 which would harm our business, results of operations, and financial condition. If adequate funds are not available, we may need to reconsider our production investments, the pace of our production ramp -up, expansion plans or limit our research and development activities, which could have a material adverse impact on our business prospects and results of operations. Cash Flow Summary The following table summarizes our cash flows for the periods presented (in thousands):

| 2024                            |     | Year Ended December 31, |        | 2023 |     |   |        |   |
|:--------------------------------|:----|:------------------------|-------:|:-----|:----|:--|-------:|:--|
| Net cash provided by (used in): |     |                         |        |      |     |   |        |   |
| Operating activities            |     | $                       | (2,066 | )    |     | $ | (4,402 | ) |
| Investing activities            |     | $                       |      — |      |     | $ |     (2 | ) |
| Financing activities            |     | $                       |  2,115 |      |     | $ |  4,468 |   |

271

Operating Activities Cash used in operating activities for the year -endedDecember31, 2024 of $2.1 million was primarily driven by our net loss of $9.2 million, adjusted for non -cashcharges of $4.7 million and net cash inflows of $2.4 million provided by changes in our operating assets and liabilities. Non -cashcharges primarily consisted of non -cashinterest expense of $4.4 million, and the change in the fair value of related party convertible loan of $0.3 million. The main drivers of the cash inflows from the changes in operating assets and liabilities was primarily related to an increase in accounts payable of $0.6 million and an increase accrued liabilities of $1.7 million, along with an increase in prepaid expenses and other current assets of $0.1 million. Cash used in operating activities for the year ended December31, 2023 of $4.4 million was primarily driven by our net loss of $10.3 million, adjusted for non -cashcharges of $4.3 million and net cash inflows of $1.6 million provided by changes in our operating assets and liabilities. Non -cashcharges primarily consisted of non -cashinterest expense of $4.3 million, partially offset