Company: PFSA
Filing Date: 2025-10-09
Form Type: S-1
Source: 0001213900-25-097860
Chunk: 165

Company: Profusa, Inc.
Filing Date: 2025-10-09
Form: S-1
Chunk 165
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 financial statements as of June 30, 2025, we may be required to seek additional equity or debt financing. In the event that we require additional financing we may not be able to raise such financing on acceptable terms or at all. If we are unable to raise additional capital or generate cash flows necessary to continue our research and development and invest in continued innovation, we may not be able to compete successfully, 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):

| Net cash provided by (used in): |     | Six Months Ended 
 June 30,         
 2025             |        |   |     | 2024 |        |   |
|:--------------------------------|:----|:-----------------|-------:|:--|:----|:-----|-------:|:--|
| Operating activities            |     | $                | (1,126 | ) |     | $    | (1,008 | ) |
| Investing activities            |     | $                |      — |   |     | $    |      — |   |
| Financing activities            |     | $                |    974 |   |     | $    |    904 |   |

Operating Activities Cash used in operating activities for the six months ended June 30, 2025 of $1.1 million was primarily driven by our net loss of $5.1 million, adjusted for non-cash charges of $2.7 million and net cash inflows of $1.2 million provided by changes in our operating assets and liabilities. Non-cash charges primarily consisted of non-cash interest expense of $2.5 million, and the change in the fair value of related party convertible loan of $0.1 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 $1.0 million and in accrued liabilities of $0.3 million and a decrease in prepaid expenses and other current assets of less than $0.1 million. Cash used in operating activities for the six months ended June 30, 2024 of $1.0 million was primarily driven by our