Profusa, Inc.
For the period ended Dec 31, 2025. Filed Apr 15, 2026.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Apr 15, 2026
PFSA$0.55-0.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
(IN THOUSANDS)
| Year Ended December 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Cash flows from operating activities | ||
| Net loss | $(35,823) | $(9,230) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Noncash interest expense | 2,504 | 4,424 |
| Noncash loss on change in fair value of convertible notes | 3,108 | 311 |
| Noncash issuance of inducement shares and in connection with the merger | 7,254 | — |
| Noncash issuance of warrants to financial advisor | 330 | — |
| Noncash issuance of warrants associated for ELOC Warrants | 982 | — |
| Loss on disposition of property and equipment, net | — | 2 |
| Stock-based compensation expenses | 891 | 21 |
| Gain on change in fair value of warrant liabilities | (895) | — |
| Loss on change in fair value of digital assets | 555 | — |
| Noncash merger transaction costs | 500 | — |
| Changes in assets and liabilities: | ||
| Other receivables | — | 45 |
| Prepaid expenses and other current assets | 211 | 77 |
| Other non-current assets | 53 | (25) |
| Accounts payable | 3,560 | 645 |
| Accrued expenses and other current liabilities | 522 | 1,664 |
| Net cash used in operating activities | (16,248) | (2,066) |
| Cash flows from investing activities | ||
| Purchase of digital assets | (2,000) | — |
| Purchase of property, plant and equipment | (8) | — |
| Net cash used in investing activities | (2,008) | — |
| Cash flows from financing activities | ||
| Proceeds from issuance of notes | 1,450 | 3,210 |
| Proceeds from ELOC | 10,276 | — |
| Proceeds from issuance of loans payable | 11,000 | — |
| Proceeds from issuance of convertible loan | — | 16 |
| Net cash received from the reverse recapitalization | 2 | — |
| Repayment of convertible notes, senior notes, promissory notes and other | (2,885) | (150) |
| Payment of deferred offering costs | — | (961) |
| Net cash provided by financing activities | 19,843 | 2,115 |
| Net increase in cash | 1,587 | 49 |
| Cash at the beginning of the period | 191 | 142 |
| Cash at the end of the period | $1,778 | $191 |
| Supplemental disclosures of non-cash investing and financing information: | ||
| Assumption of net liabilities of Northview | $8,400 | $— |
| Increase in unpaid deferred offering costs | $— | $269 |
| Conversion of preferred stock into common stock | $65,149 | $— |
| Conversion of debt to equity | $51,388 | $— |
| Financing of D&O insurance premium | $657 | $— |
| Supplemental disclosure of cash flow information: | ||
| Cash paid for interest | $296 | $— |
| Cash paid for taxes | $1 | $— |
The accompanying notes are an integral part of these consolidated financial statements
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.