Profusa, Inc.
For the period ended Dec 31, 2025. Filed Apr 15, 2026.
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FY2025 · Filed Apr 15, 2026
PFSA$0.55+2.9%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Balance Sheets
(IN THOUSANDS, EXCEPT SHARE AND PER SHARE AMOUNTS)
| December 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Assets | ||
| Current assets: | ||
| Cash | $1,778 | $191 |
| Prepaid expenses and other current assets | 541 | 69 |
| Digital assets | 1,445 | — |
| Total current assets | 3,764 | 260 |
| Deferred offering costs | — | 2,757 |
| Property and equipment, net | 8 | — |
| Other non-current assets | 3 | 56 |
| Total assets | $3,775 | $3,073 |
| Liabilities and Stockholders’ Deficit | ||
| Current liabilities: | ||
| Accounts payable | $7,345 | $4,954 |
| Excise tax payable | 1,953 | — |
| Accrued expenses and other current liabilities | 5,981 | 3,968 |
| Due to related party | 41 | — |
| Convertible notes payable (including notes payable to related parties of $4,160 and $25,056 as of December 31, 2025 and 2024, respectively) | 4,202 | 45,921 |
| Promissory notes and other (including notes payable to related parties of $400 and $850 as of December 31, 2025 and 2024, respectively) | 1,346 | 910 |
| PPP loan | 1,390 | 1,376 |
| Total current liabilities | 22,258 | 57,129 |
| Warrant liabilities at fair value | 298 | — |
| Loans payable at fair value | 7,877 | — |
| Total liabilities | 30,433 | 57,129 |
| Commitments and contingencies (Note 7) | ||
| Convertible Preferred Stock: | ||
| Series A convertible preferred stock: $0.0001 par value – 0 shares authorized, issued and outstanding at December 31, 2025, and 4,350,314 shares authorized, issued and outstanding at December 31, 2024 (Liquidation preference $5,307 at December 31, 2024) | — | 5,231 |
| Series B convertible preferred stock: $0.0001 par value – 0 shares authorized, issued and outstanding at December 31, 2025, and 5,293,175 shares authorized, issued and outstanding at December 31, 2024 (Liquidation preference $13,815 at December 31, 2024) | — | 13,701 |
| Series C/C-1 convertible preferred stock: $0.0001 par value – 0 shares authorized, issued and outstanding at December 31, 2025, and 8,220,445 shares authorized, issued and outstanding at December 31, 2024 (Liquidation preference $45,062 at December 31, 2024) | — | 46,217 |
| Total convertible preferred stock | — | 65,149 |
| Stockholders’ Deficit: | ||
| Undesignated preferred stock: $0.0001 par value – 1,000,000 shares authorized, 0 shares issued and outstanding at December 31, 2025 and 2024 | — | — |
| Common stock: $0.0001 par value – 600,000,000 authorized shares at December 31, 2025 and 2024, and 1,232,052 and 25,844 shares issued and outstanding at December 31, 2025 and 2024, respectively | — | — |
| Additional paid-in capital | 134,123 | 5,753 |
| Accumulated deficit | (160,781) | (124,958) |
| Total stockholders’ deficit | (26,658) | (119,205) |
| Total liabilities and stockholders’ deficit | $3,775 | $3,073 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.