Profusa Inc Financials
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).
Development-stage cash consumption dominates Profusa’s model, while liabilities remain far above the asset base.
In FY2025, operating cash flow was-$16.2M and free cash flow was-$16.3M ; their near match means reported cash use was overwhelmingly operational rather than capital spending. Capital expenditures were only$8K , reinforcing that distinction.
The only reported revenue, FY2024’s
Negative equity 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
Profusa Inc earned -$107.01 per diluted share (EPS) in fiscal year 2025. This represents an increase of 70.0% from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Cash & Balance Sheet
Profusa Inc recorded an outflow of $16.3M in free cash flow in fiscal year 2025, representing a cash shortfall after capex.
Profusa Inc held $1.8M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Not reported for fiscal year 2025.
Margins & Returns
None of these metrics is reported for fiscal year 2025.
Capital Allocation
Profusa Inc invested $2.8M in research and development in fiscal year 2025. This represents an increase of 74.4% from the prior year.
Profusa Inc invested $8K in capex in fiscal year 2025, funding long-term assets and infrastructure.
Not reported for fiscal year 2025.
PFSA Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $75K |
| R&D Expenses | $823K-28.2% | $1.1M | N/A | $722K+83.7% | $393K-9.4% | $434K | N/A | $411K |
| SG&A Expenses | $1.7M-39.8% | $2.9M | N/A | $21.0M+3340.5% | $610K-38.4% | $990K | N/A | $767K |
| Operating Income | -$2.5M+36.5% | -$4.0M | N/A | N/A | -$1.0M+29.6% | -$1.4M | N/A | -$1.1M |
| Interest Expense | $21K+16.7% | $18K | N/A | $169K-71.8% | $600K+20.0% | $500K | N/A | $1.1M |
| Income Tax | N/A | N/A | N/A | N/A | $2K-87.7% | $19K | N/A | $19K |
| Net Income | N/A | -$3.5M | N/A | N/A | -$2.3M+13.5% | -$2.7M | N/A | -$2.5M |
| EPS (Diluted) | -$151.80 | -$2.05+98.0% | -$104.72 | -$0.70 | -$9100.78 | -$105.09-8110.2% | -$1.28+0.8% | -$1.29 |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit.
PFSA Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.0M+20.9% | $862K-77.2% | $3.8M-11.2% | $4.3M+116.6% | $2.0M-1.1% | $2.0M-35.5% | $3.1M-65.0% | $8.8M |
| Current Assets | $841K+27.0% | $662K-82.4% | $3.8M-10.3% | $4.2M+509.9% | $688K+988.7% | $63K-75.7% | $260K-61.9% | $682K |
| Cash & Equivalents | $719K+91.7% | $375K-78.9% | $1.8M-40.9% | $3.0M+7615.4% | $39K+105.3% | $19K-90.1% | $191K+35734.9% | $533 |
| Total Liabilities | $28.2M-3.1% | $29.1M-4.5% | $30.4M-20.4% | $38.2M-69.7% | $126.1M+1.8% | $123.9M+1.3% | $122.3M-2.8% | $125.7M |
| Current Liabilities | $28.2M-2.9% | $29.0M+30.4% | $22.3M-5.4% | $23.5M+45.5% | $16.2M+22.1% | $13.3M-76.8% | $57.1M+1006.0% | $5.2M |
| Total Equity | -$27.1M+3.8% | -$28.2M-5.8% | -$26.7M+21.5% | -$34.0M+72.7% | -$124.2M-1.9% | -$121.9M-2.3% | -$119.2M-1.9% | -$117.0M |
| Retained Earnings | -$173.0M-5.3% | -$164.2M-2.1% | -$160.8M-5.6% | -$152.2M-576.2% | -$22.5M-57.4% | -$14.3M+88.6% | -$125.0M-2314.3% | -$5.2M |
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.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$2.6M-2.2% | -$2.6M+49.8% | -$5.1M+48.7% | -$10.0M-1596.6% | -$589K-9.7% | -$537K-125.6% | -$238K+79.3% | -$1.2M |
| Capital Expenditures | $73K+1360.0% | $5K | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | -$2.7M-4.8% | -$2.6M | N/A | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | -$73K-106.4% | $1.1M+213.6% | -$1.0M+86.5% | -$7.5M-749035700.0% | -$1-100.0% | $6.5M+1317.3% | $458K+508.5% | -$112K |
| Financing Cash Flow | $3.0M+10789.3% | $28K-99.4% | $4.9M-64.9% | $14.0M+2192.8% | $609K+66.8% | $365K+26.3% | $289K-92.3% | $3.8M |
| Share Buybacks | N/A | N/A | N/A | N/A | $0-100.0% | $6.5M+993.5% | $595K | $0 |
Not reported in any period shown, so not listed: Dividends Paid.
PFSA Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| 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% | N/A | N/A | -119.6%+17.3pp | -136.9% | N/A | -28.4% |
| Current Ratio | 0.030.0x | 0.02-0.1x | 0.170.0x | 0.18+0.1x | 0.040.0x | 0.000.0x | 0.00-0.1x | 0.13 |
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.
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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.
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.