Profusa, Inc. (PFSA) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 17, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 19, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the PFSA SEC filings page.
This page shows Profusa, Inc. (PFSA) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 4 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Profusa operates like a development-stage business, with research spending and financing needs far exceeding its reported commercial revenue.
Operating cash use intensified sharply from$2.1M in FY2024 to$16.2M in FY2025 while R&D increased from$1.6M to$2.8M , linking the cash pressure to a larger development effort rather than ordinary scale expansion.
The only reported revenue was
The balance sheet is heavily dependent on financing: FY2025 liabilities of
Financial Health Signals
Profusa, Inc. does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The metrics below are current.
Key Financial Metrics
Earnings & Revenue
Not reported for Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
Cash & Balance Sheet
Profusa, Inc. recorded an outflow of $2.7M in free cash flow in Q2 2026, representing a cash shortfall after capex. Against the prior quarter it is down 4.8%.
Profusa, Inc. held $719K in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Margins & Returns
None of these metrics is reported for Q2 2026.
Capital Allocation
Profusa, Inc. invested $823K in research and development in Q2 2026. This represents an increase of 109.4% from the same quarter a year earlier. Against the prior quarter it is down 28.2%.
Profusa, Inc. invested $73K in capex in Q2 2026, funding long-term assets and infrastructure. Against the prior quarter it is up 1360.0%.
Not reported for Q2 2026.
PFSA Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $75K |
| R&D Expenses | $823K+109.4% | $1.1M+164.1% | N/A | $722K+75.7% | $393K | $434K | N/A | $411K |
| SG&A Expenses | $1.7M+182.3% | $2.9M+188.9% | N/A | $21.0M+2636.2% | $610K | $990K | N/A | $767K |
| Operating Income | -$2.5M-153.7% | -$4.0M-181.3% | N/A | N/A | -$1.0M-296.2% | -$1.4M-202.4% | N/A | -$1.1M-280.2% |
| Interest Expense | $21K-96.5% | $18K-96.4% | N/A | $169K-84.2% | $600K | $500K | N/A | $1.1M |
| Income Tax | N/A | N/A | N/A | N/A | $2K-89.6% | $19K-9.8% | N/A | $19K-23.5% |
| Net Income | N/A | -$3.5M-27.2% | N/A | N/A | -$2.3M+2.6% | -$2.7M-31.1% | N/A | -$2.5M-579.7% |
| EPS (Basic) | -$151.80+98.3% | -$2.05+98.0% | -$104.72-8081.3% | -$0.70+45.7% | -$9100.78-13001014.3% | -$105.09-74964.3% | -$1.28-3300.0% | -$1.29-2050.0% |
| EPS (Diluted) | -$151.80 | -$2.05 | -$104.72-8081.3% | -$0.70 | -$9100.78 | -$105.09 | -$1.28-4366.7% | -$1.29 |
| Diluted Shares (Avg) | 57,676 | 2M | N/A | 32M | 258 | 25,844 | N/A | 2M |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, EBITDA.
PFSA Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.0M-46.9% | $862K-56.5% | $3.8M+22.8% | $4.3M-51.6% | $2.0M-77.2% | $2.0M-76.7% | $3.1M-71.8% | $8.8M-18.7% |
| Current Assets | $841K+22.3% | $662K+947.8% | $3.8M+1347.7% | $4.2M+515.2% | $688K+505.9% | $63K-4.4% | $260K-83.5% | $682K+345.8% |
| Cash & Equivalents | $719K+1743.6% | $375K+1873.7% | $1.8M+830.9% | $3.0M+564440.3% | $39K+500.4% | $19K+257.5% | $191K+4126.6% | $533-96.9% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0-100.0% | $0-100.0% | $0-100.0% | $0 |
| Total Liabilities | $28.2M-77.7% | $29.1M-76.5% | $30.4M-75.1% | $38.2M-69.6% | $126.1M+2.5% | $123.9M+2.8% | $122.3M+1.2% | $125.7M+780.1% |
| Current Liabilities | $28.2M+74.1% | $29.0M+118.9% | $22.3M-61.0% | $23.5M+355.7% | $16.2M+289.2% | $13.3M+234.3% | $57.1M+1060.8% | $5.2M+72.2% |
| Non-Current Liabilities | $2K-100.0% | $40K-100.0% | $8.2M-87.5% | $14.7M-87.8% | $110.0M-7.5% | $110.6M-5.1% | $65.1M-43.8% | $120.6M+968.1% |
| Total Equity | -$27.1M+78.2% | -$28.2M+76.9% | -$26.7M+77.6% | -$34.0M+71.0% | -$124.2M-8.5% | -$121.9M-8.8% | -$119.2M-8.4% | -$117.0M-3257.7% |
| Retained Earnings | -$173.0M-668.5% | -$164.2M-1048.6% | -$160.8M-28.7% | -$152.2M-2840.9% | -$22.5M-343.5% | -$14.3M-218.0% | -$125.0M-3511.7% | -$5.2M-48.6% |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill, Long-Term Debt.
PFSA Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$2.6M-346.9% | -$2.6M-379.7% | -$5.1M-2055.0% | -$10.0M-767.2% | -$589K-49.2% | -$537K-91.2% | -$238K+31.1% | -$1.2M-140.2% |
| Stock-Based Compensation | $188K+129.3% | $187K+3640.0% | N/A | $617K+5041.7% | $82K | $5K | N/A | $12K |
| Capital Expenditures | $73K | $5K | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | -$2.7M | -$2.6M | N/A | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | -$73K-7299900.0% | $1.1M-82.4% | -$1.0M-320.1% | -$7.5M-6581.0% | -$1-100.0% | $6.5M+153.8% | $458K+699.3% | -$112K-175.8% |
| Financing Cash Flow | $3.0M+400.7% | $28K-92.3% | $4.9M+1597.6% | $14.0M+270.3% | $609K+84.1% | $365K+116.0% | $289K-29.3% | $3.8M+997.9% |
| Share Buybacks | N/A | N/A | N/A | N/A | $0 | $6.5M+145.4% | $595K | $0 |
Not reported in any period shown, so not listed: Depreciation & Amortization, Dividends Paid.
PFSA Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -1470.7% |
| Net Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -3329.3% |
| Return on Assets | N/A | -400.9%-264.0pp | N/A | N/A | -119.6%-91.6pp | -136.9%-112.5pp | N/A | -28.4%-25.0pp |
| Current Ratio | 0.030.0x | 0.020.0x | 0.17+0.2x | 0.180.0x | 0.040.0x | 0.000.0x | 0.00-0.3x | 0.13+0.1x |
| Asset Turnover | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.01 |
Not reported in any period shown, so not listed: Gross Margin, Return on Equity, Debt-to-Equity, FCF Margin.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin.
Note: Shareholder equity is negative (-$26.7M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Note: The current ratio is below 1.0 (0.17), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Profusa, Inc. PFSA | FY2025 | N/A | N/A | N/A | $564K | — |
| ALLURION TECHNOLOGIES ALUR | FY2025 | $15.2M | -$28.8M | N/A | N/A | — |
| Ainos, Inc. AIMD | FY2025 | $124K | -$14.8M | N/A | $6.8M | — |
Where Profusa, Inc. Ranks
Frequently Asked Questions
What is Profusa, Inc.'s free cash flow?
Profusa, Inc. (PFSA) recorded an outflow of $16.3M in free cash flow during fiscal year 2025. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Profusa, Inc.'s operating cash flow?
Profusa, Inc. (PFSA) recorded an outflow of $16.2M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Profusa, Inc.'s total assets?
Profusa, Inc. (PFSA) had $3.8M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Profusa, Inc.'s capital expenditures?
Profusa, Inc. (PFSA) invested $8K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Profusa, Inc. spend on research and development?
Profusa, Inc. (PFSA) invested $2.8M in research and development during fiscal year 2025.
What is Profusa, Inc.'s current ratio?
Profusa, Inc. (PFSA) had a current ratio of 0.17 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Profusa, Inc.'s P/E ratio?
Profusa, Inc. (PFSA) has no price-to-earnings ratio at the moment: no net income reported. The market capitalization is $564K as of Oct 17, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Profusa, Inc.'s price-to-sales ratio?
Profusa, Inc. (PFSA) has no price-to-sales ratio at the moment: no revenue reported. The market capitalization is $564K as of Oct 17, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does Profusa, Inc.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Profusa, Inc. (PFSA) held $1.8M in cash, cash equivalents and investments, and reported an operating cash outflow of $16.2M over that year. Dividing the one by the other, the reported balance equals about 1 month of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
Why is Profusa, Inc.'s debt-to-equity ratio negative or not reported?
Profusa, Inc. (PFSA) has negative shareholder equity of -$26.7M as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.