PFSA on Nasdaq

Profusa, Inc.

American surgical and medical instruments and apparatus company. Summary from the record

Price unavailable

Last updated Oct 19, 2026.

Overview

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TickerPFSA on Nasdaq¹
IndustrySurgical & Medical Instruments & Apparatus¹
HeadquartersNew York, New York¹
Incorporated inDE²
Business address207 West 25Th St, 9Th Floor, New York, Ny 10001²
Filer category, Emerging growth company²

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“decoupling the sensor and the reading elements,” we believe that our approach has a few major advantages:³ From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2024

-4500.0%Operating margin⁴

-9230.0%Net margin⁴

Where the money goes

Where each dollar of revenue went, fiscal 2024

Research and development

Research and development95¢$1.6M
Income tax5¢$80.5K

Out of $100.0K in revenue.⁴⁵ The company lost money this year.

Financial statements

Operating income⁶⁵⁴-$4.5M in 2024+254% since 2022

Net income⁶⁵⁴-$9.2M in 2024

Every line of the income statement as filed: the last 2 fiscal years, latest first.⁴

Period ending	2025-12-31	2024-12-31
Government grant revenue		$100.0K
Research and development	$2.8M	$1.6M
General and administrative	$24.9M	$3.0M
Total operating expenses	$27.7M	$4.6M
Loss from operations	-$27.7M	-$4.5M
Loss on change in the fair value of convertible notes	-$3.4M	-$311.0K
Gain on the change in fair value of warrant liabilities	$895.0K
Loss on the change in fair value of digital assets	-$555.0K
Interest expense (including related parties amounts of $1,330 and $2,400 for the years ended December 31, 2025 and 2024, respectively)	-$2.5M	-$4.4M
Financing costs	-$2.6M
Other income	$16.0K	$5.0K
Total other expense, net	-$8.1M	-$4.7M
Net loss	-$35.8M	-$9.2M
Net loss per share, basic (in Dollars per share)	-$107.01	-$357.14
Net loss per share, diluted (in Dollars per share)	-$107.01	-$357.14
Weighted-average common shares outstanding, basic (in Shares)	334.8K shares	25.8K shares
Weighted-average common shares outstanding, diluted (in Shares)	334.8K shares	25.8K shares
Interest expense, related parties	$1.3M	$2.4M

Total assets⁹⁶⁵⁴$3.1M in 2024−98% since 2021

Total liabilities⁹⁶⁵⁴$57.1M in 2024+680% since 2021

Shareholders’ equity⁶⁵⁴-$119.2M in 2024+1917% since 2021

Cash⁶⁵⁴$191.0K in 2024−74% since 2021

Every line of the balance sheet as filed: the last 5 fiscal years (annual) or 5 quarters (quarterly), latest first.⁴

Period ending	2025-12-31	2025-10-31	2025-08-31	2024-12-31	2023-12-31
Cash	$1.8M			$191.0K
Prepaid expenses and other current assets	$541.0K			$69.0K
Digital assets	$1.4M
Total current assets	$3.8M			$260.0K
Deferred offering costs				$2.8M	$1.5M
Property and equipment, net	$8.0K
Other non-current assets	$3.0K			$56.0K
Total assets	$3.8M			$3.1M
Accounts payable	$7.3M			$5.0M
Excise tax payable	$2.0M
Accrued expenses and other current liabilities	$6.0M			$4.0M
Convertible notes payable (including notes payable to related parties of $4,160 and $25,056 as of December 31, 2025 and 2024, respectively)	$4.2M			$45.9M
Promissory notes and other (including notes payable to related parties of $400 and $850 as of December 31, 2025 and 2024, respectively)	$1.3M			$910.0K
PPP loan	$1.4M			$1.4M
Total current liabilities	$22.3M			$57.1M
Warrant liabilities at fair value	$298.0K
Loans payable at fair value	$7.9M
Total liabilities	$30.4M			$57.1M
Total convertible preferred stock				$65.1M
Additional paid-in capital	$134.1M			$5.8M
Accumulated deficit	-$160.8M			-$125.0M
Total stockholders deficit	-$26.7M			-$119.2M	-$110.0M
Total liabilities and stockholders deficit	$3.8M			$3.1M
Undesignated preferred stock, par value (in Dollars per share)		$0.00
Undesignated preferred stock, shares authorized (in Shares)		1.0M shares
Common stock, par value (in Dollars per share)	$0.00	$0.00	$1.00	$0.00
Common stock, shares authorized (in Shares)	600.0M shares	600.0M shares		600.0M shares
Common stock, shares issued (in Shares)	1.2M shares			25.8K shares
Common stock, shares outstanding (in Shares)	1.2M shares			25.8K shares

Period ending	2025-12-31	2025-10-31	2025-08-31	2024-12-31	2023-12-31
Cash	$1.8M			$191.0K
Prepaid expenses and other current assets	$541.0K			$69.0K
Digital assets	$1.4M
Total current assets	$3.8M			$260.0K
Deferred offering costs				$2.8M	$1.5M
Property and equipment, net	$8.0K
Other non-current assets	$3.0K			$56.0K
Total assets	$3.8M			$3.1M
Accounts payable	$7.3M			$5.0M
Excise tax payable	$2.0M
Accrued expenses and other current liabilities	$6.0M			$4.0M
Convertible notes payable (including notes payable to related parties of $4,160 and $25,056 as of December 31, 2025 and 2024, respectively)	$4.2M			$45.9M
Promissory notes and other (including notes payable to related parties of $400 and $850 as of December 31, 2025 and 2024, respectively)	$1.3M			$910.0K
PPP loan	$1.4M			$1.4M
Total current liabilities	$22.3M			$57.1M
Warrant liabilities at fair value	$298.0K
Loans payable at fair value	$7.9M
Total liabilities	$30.4M			$57.1M
Total convertible preferred stock				$65.1M
Additional paid-in capital	$134.1M			$5.8M
Accumulated deficit	-$160.8M			-$125.0M
Total stockholders deficit	-$26.7M			-$119.2M	-$110.0M
Total liabilities and stockholders deficit	$3.8M			$3.1M
Undesignated preferred stock, par value (in Dollars per share)		$0.00
Undesignated preferred stock, shares authorized (in Shares)		1.0M shares
Common stock, par value (in Dollars per share)	$0.00	$0.00	$1.00	$0.00
Common stock, shares authorized (in Shares)	600.0M shares	600.0M shares		600.0M shares
Common stock, shares issued (in Shares)	1.2M shares			25.8K shares
Common stock, shares outstanding (in Shares)	1.2M shares			25.8K shares

Cash from operations⁶⁵⁴-$2.1M in 2024+255% since 2022

Share buybacks⁵$3.2M in 2024−98% since 2023

Every line of the cash flow as filed: the last 2 fiscal years, latest first.⁴

Period ending	2025-12-31	2024-12-31
Net loss	-$35.8M	-$9.2M
Noncash interest expense	$2.5M	$4.4M
Noncash loss on change in fair value of convertible notes	$3.1M	$311.0K
Noncash issuance of inducement shares and in connection with the merger	$7.3M
Noncash issuance of warrants to financial advisor	$330.0K
Noncash issuance of warrants associated for ELOC Warrants	$982.0K
Loss on disposition of property and equipment, net		$2.0K
Stock-based compensation expenses	$891.0K	$21.0K
Gain on change in fair value of warrant liabilities	-$895.0K
Loss on change in fair value of digital assets	$555.0K
Noncash merger transaction costs	$500.0K
Other receivables		$45.0K
Prepaid expenses and other current assets	$211.0K	$77.0K
Other non-current assets	$53.0K	-$25.0K
Accounts payable	$3.6M	$645.0K
Accrued expenses and other current liabilities	$522.0K	$1.7M
Net cash used in operating activities	-$16.2M	-$2.1M
Purchase of digital assets	-$2.0M
Purchase of property, plant and equipment	-$8.0K
Net cash used in investing activities	-$2.0M
Proceeds from issuance of notes	$1.4M	$3.2M
Proceeds from ELOC	$10.3M
Proceeds from issuance of loans payable	$11.0M
Proceeds from issuance of convertible loan		$16.0K
Net cash received from the reverse recapitalization	$2.0K
Repayment of convertible notes, senior notes, promissory notes and other	-$2.9M	-$150.0K
Payment of deferred offering costs		-$961.0K
Net cash provided by financing activities	$19.8M	$2.1M
Net increase in cash	$1.6M	$49.0K
Assumption of net liabilities of Northview	$8.4M
Increase in unpaid deferred offering costs		$269.0K
Conversion of preferred stock into common stock	$65.1M
Conversion of debt to equity	$51.4M
Financing of D&O insurance premium	$657.0K
Cash paid for interest	$296.0K
Cash paid for taxes	$1.0K

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Leadership

Who has led Profusa, Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

Chief financial officer

Fred S. Knechtel2021–now

2025

Chief executive officerBen Chung-Bin Hwang Jul 21, 2025 to now¹⁰
Chief executive officerJack E. Stover Dec 23, 2021 to Jul 21, 2025¹¹
Chief financial officerFred S. Knechtel Dec 20, 2021 to now¹²

Board members and other officers (6)

Board memberBen Chung-Bin Hwang Jul 21, 2025 to now¹⁰
Board memberRajesh Asarpota Jul 22, 2025 to now¹³
Board memberFred S. Knechtel Dec 20, 2021 to Dec 20, 2021¹²
Board memberLauren Chung Dec 20, 2021 to now¹⁴
Board memberPeter O'Rourke Dec 20, 2021 to now¹⁵
Board memberJack E. Stover Dec 23, 2021 to now¹¹

Former names

NorthView Acquisition CorpJun 17, 2021 to Jul 15, 2025²

Timeline

Jul 21, 2025New chief executive Ben Chung-Bin Hwang becomes CEO¹⁰
Dec 23, 2021New chief executive Jack E. Stover becomes CEO¹¹

Filings

317 filings to the SEC since October 2021: 5 annual reports, 14 quarterly reports, 76 major events, 32 insider forms, 20 large holders, 170 other. The latest 20:

Oct 15, 20268-K CURRENT REPORT EDGAR
Oct 9, 20268-K CURRENT REPORT EDGAR
Oct 5, 20268-K CURRENT REPORT EDGAR
Sep 21, 20268-K CURRENT REPORT EDGAR
Sep 16, 20268-K CURRENT REPORT EDGAR
Sep 15, 20268-K CURRENT REPORT EDGAR
Sep 4, 20264 EDGAR
Sep 4, 20264 EDGAR
Sep 1, 20268-K CURRENT REPORT EDGAR
Aug 31, 20268-K CURRENT REPORT EDGAR
Aug 28, 2026DEF 14A PROXY STATEMENT EDGAR
Aug 21, 20268-K CURRENT REPORT EDGAR
Aug 20, 20268-K CURRENT REPORT EDGAR
Aug 19, 20264 PRIMARY DOCUMENT EDGAR
Aug 19, 20264 EDGAR
Aug 19, 2026SCHEDULE 13D EDGAR
Aug 19, 20264 EDGAR
Aug 19, 202610-Q QUARTERLY REPORT EDGAR
Aug 18, 20264 PRIMARY DOCUMENT EDGAR
Aug 18, 2026PRE 14A PROXY STATEMENT EDGAR

The 317 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

14 open-market trades by officers, directors and large owners since October 2021: 8 buys and 6 sales. Grants, option exercises and gifts are left out.

Date	Who	Trade	Shares	Price	Value	Filing
Aug 17, 2026	HRT FINANCIAL LP10% owner	Sale	18,395	$5.94	$109.3K	Form 4
Aug 14, 2026	HRT FINANCIAL LP10% owner	Sale	3,163	$0.90	$2.8K	Form 4
Aug 13, 2026	HRT FINANCIAL LP10% owner	Sale	42,411	$0.89	$37.7K	Form 4
Aug 12, 2026	HRT FINANCIAL LP10% owner	Buy	5,585	$0.96	$5.4K	Form 4
Aug 11, 2026	HRT FINANCIAL LP10% owner	Sale	2,280	$0.97	$2.2K	Form 4
Aug 10, 2026	HRT FINANCIAL LP10% owner	Buy	4,016	$0.94	$3.8K	Form 4
Aug 7, 2026	HRT FINANCIAL LP10% owner	Sale	924	$0.95	$878	Form 4
Aug 6, 2026	HRT FINANCIAL LP10% owner	Buy	926	$0.94	$870	Form 4
Aug 5, 2026	HRT FINANCIAL LP10% owner	Sale	383	$0.94	$360	Form 4
Aug 4, 2026	HRT FINANCIAL LP10% owner	Buy	1,368	$0.95	$1.3K	Form 4
Aug 3, 2026	HRT FINANCIAL LP10% owner	Buy	14,556	$0.96	$14.0K	Form 4
Jul 31, 2026	HRT FINANCIAL LP10% owner	Buy	8,811	$1.05	$9.3K	Form 4
Jul 30, 2026	HRT FINANCIAL LP10% owner	Buy	1,063	$1.01	$1.1K	Form 4
Jul 29, 2026	HRT FINANCIAL LP10% owner	Buy	1,310	$1.01	$1.3K	Form 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

NorthView Sponsor I, LLCSCHEDULE 13D, 2 filings Jun 2, 2022 to Aug 19, 2026¹⁶
Ascent Partners Fund LLCSCHEDULE 13G/A, 5 filings Jul 24, 2025 to Aug 4, 2026¹⁷
Harraden Circle Investments, LLCSCHEDULE 13G/A, 2 filings Mar 27, 2024 to May 15, 2025¹⁸
Shaolin Capital Management LLCSC 13G/A, 2 filings Feb 14, 2023 to Feb 22, 2024¹⁹
FIR TREE CAPITAL MANAGEMENT LPSC 13G/A, 2 filings Feb 14, 2023 to Feb 14, 2024²⁰
Lighthouse Investment Partners, LLCSC 13G/A, 3 filings Jan 10, 2022 to Apr 10, 2023²¹
Saba Capital Management, L.P.SC 13G/A, 2 filings Dec 30, 2021 to Feb 14, 2023²²
Lawrence FeisSC 13G/A, 2 filings Jan 3, 2022 to Feb 14, 2022²³

Sources

The numbers on this page point here. Each one links to the record it came from.

1
SEC EDGARProfusa, Inc. filings on SEC EDGAR
2
SEC EDGARProfusa, Inc. filings on SEC EDGAR
3
SEC EDGARProfusa, Inc. annual report, Item 1 (Business)
4
SEC EDGARProfusa, Inc. 10-K for fiscal 2024
5
SEC EDGARProfusa, Inc. 10-K for fiscal 2024
6
SEC EDGARProfusa, Inc. 10-K for fiscal 2022
7
SEC EDGARProfusa, Inc. 10-Q for fiscal 2026
8
SEC EDGARProfusa, Inc. 10-Q for fiscal 2026
9
SEC EDGARProfusa, Inc. 10-K for fiscal 2021
10
SEC EDGARBen Chung-Bin Hwang, Chief executive officer
11
SEC EDGARJack E. Stover, Chief executive officer
12
SEC EDGARFred S. Knechtel, Chief financial officer
13
SEC EDGARRajesh Asarpota, Board member
14
SEC EDGARLauren Chung, Board member
15
SEC EDGARPeter O'Rourke, Board member
16
SEC EDGARNorthView Sponsor I, LLC SCHEDULE 13D on Profusa, Inc.
17
SEC EDGARAscent Partners Fund LLC SCHEDULE 13G/A on Profusa, Inc.
18
SEC EDGARHarraden Circle Investments, LLC SCHEDULE 13G/A on Profusa, Inc.
19
SEC EDGARShaolin Capital Management LLC SC 13G/A on Profusa, Inc.
20
SEC EDGARFIR TREE CAPITAL MANAGEMENT LP SC 13G/A on Profusa, Inc.
21
SEC EDGARLighthouse Investment Partners, LLC SC 13G/A on Profusa, Inc.
22
SEC EDGARSaba Capital Management, L.P. SC 13G/A on Profusa, Inc.
23
SEC EDGARLawrence Feis SC 13G/A on Profusa, Inc.