Company: PFSA
Filing Date: 2025-10-29
Form Type: 424B3
Source: 0001213900-25-103174
Chunk: 310

Company: Profusa, Inc.
Filing Date: 2025-10-29
Form: 424B3
Chunk 310
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,348 | ) |
| Balance at June 30, 2025         |     |                 | 4,350,314 |     | $      | 5,231 |     |                 | 5,293,175 |     | $      | 13,701 |     |                 | 8,220,445 |     | $      | 46,217 |     |              | 5,604,651 |     | $      | — |     | $          | 5,840 |     | $           | (130,022 | ) |     | $             | (124,182 | ) |

<div align='center'>The accompanying notes are an integral part of
these condensed consolidated financial statements.

F-32

PROFUSA, INC. AND SUBSIDIARY
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(UNAUDITED)
(IN THOUSANDS)</div>

| Cash flows from operating activities                                        |     | Six Months Ended 
 June 30,         
 2025             |        |   |     | 2024 |        |   |
|:----------------------------------------------------------------------------|:----|:-----------------|-------:|:--|:----|:-----|-------:|:--|
| Net loss                                                                    |     | $                | (5,064 | ) |     | $    | (4,481 | ) |
| Adjustments to reconcile net loss to net cash used in operating activities: |     |                  |        |   |     |      |        |   |
| Non-cash interest expense                                                   |     |                  |  2,519 |   |     |      |  2,161 |   |
| Gain on change in fair value of related party convertible debt              |     |                  |    118 |   |     |      |     11 |   |
| Loss on disposition of property and equipment, net                          |     |                  |      — |   |     |      |      2 |   |
| Stock-based compensation expenses                                           |     |                  |     82 |   |     |      |     11 |   |
| Changes in assets and liabilities:                                          |     |                  |        |   |     |      |        |   |
| Other receivables                                                           |     |                  |      — |   |     |      |     44 |   |
| Prepaid expenses and other current assets                                   |     |