The company has failed to generate any revenue across the last ten quarters, while operating expenses reached a peak of $21.0 million in 2025Q3.
| Sales/Revenue | 0 | 0 | 0 | 0 | 0 | 0 |
| Revenue Growth % | - | - | - | - | - | - |
| Cost of Goods Sold | 0 | 0 | 0 | 0 | 0 | 0 |
| COGS % of Revenue | - | - | - | - | - | - |
| Gross Profit | 0 | 0 | 0 | 0 | 0 | 0 |
| Gross Margin % | - | - | - | - | - | - |
| Gross Profit Growth % | - | - | - | - | - | - |
| Operating Expenses | 30.25M | 13.22M | 4.5M | 6.07M | 11.14M | 11.69M |
| OpEx % of Revenue | - | - | - | - | - | - |
| Selling, General & Admin | 26.16M | 24.9M | 2.99M | 4.08M | 5.24M | 4.77M |
| SG&A % of Revenue | - | - | - | - | - | - |
| Research & Development | 3.12M | 2.8M | 1.61M | 2.04M | 4.2M | 7.66M |
| R&D % of Revenue | - | - | - | - | - | - |
| Other Operating Expenses | 967.08K | -14.48M | -100K | -45K | 1.7M | -742K |
| Operating Income | -30.25M | -13.22M | -4.5M | -6.07M | -11.14M | -11.69M |
| Operating Margin % | - | - | - | - | - | - |
| Operating Income Growth % | - | -193.84% | 25.86% | 45.51% | 4.7% | - |
| EBITDA | -40.69M | -30.73M | -4.81M | -6M | -10.42M | -10.51M |
| EBITDA Margin % | - | - | - | - | - | - |
| EBITDA Growth % | -274.96% | -539.37% | 19.87% | 42.42% | 0.89% | - |
| D&A (Non-Cash Add-back) | 0 | 0 | 0 | 0 | 724K | 1.18M |
| EBIT | -40.69M | -30.73M | -4.81M | -6M | -13.95M | -6.23M |
| Net Interest Income | -2.83M | -5.09M | -4.42M | -4.28M | -6.27M | -4.08M |
| Interest Income | 15.16K | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 2.85M | 5.09M | 4.42M | 4.28M | 6.27M | 4.08M |
| Other Income/Expense | -12.16M | -22.6M | -4.73M | -4.21M | -9.08M | 1.38M |
| Pretax Income | -42.41M | -35.82M | -9.23M | -10.28M | -20.22M | -10.31M |
| Pretax Margin % | - | - | - | - | - | - |
| Income Tax | 2.39K | 0 | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | -0.01% | 0% | 0% | 0% | 0% | 0% |
| Net Income | -42.41M | -35.82M | -9.23M | -10.28M | -20.22M | -10.31M |
| Net Margin % | - | - | - | - | - | - |
| Net Income Growth % | -221.41% | -288.11% | 10.22% | 49.15% | -96.09% | - |
| Net Income (Continuing) | -42.41M | -35.82M | -9.23M | -10.28M | -20.22M | -10.31M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -25.12 | -107.01 | -357.13 | 8.66 | 22.24 | 0.93 |
| EPS Growth % | 97.77% | 70.04% | -4223.9% | -61.06% | 2291.4% | - |
| EPS (Basic) | - | -107.01 | -357.13 | 8.66 | 22.24 | 0.93 |
| Diluted Shares Outstanding | 1.69M | 334.77K | 25.84K | 134.13K | 322.25K | 322.25K |
| Basic Shares Outstanding | 1.69M | 334.77K | 25.84K | 134.13K | 322.25K | 322.25K |
| Dividend Payout Ratio | - | - | - | - | - | - |
Imminent liquidity and solvency risk
As indicated by the company's historical financial statements, Profusa has reported zero revenue across the last ten quarters, confirming that the firm remains in a pre-commercial development phase without any established market traction for its proprietary hydrogel-based biosensor technology or the associated Lumee Oxygen Platform.
The absence of top-line growth suggests that the company has yet to transition from clinical-stage research to commercial distribution. Investors should monitor whether the lack of revenue reflects a deliberate focus on regulatory milestones or an inability to secure necessary market access for its specialized medical devices.
Based on reported figures, the company's operating expenses have shown significant volatility, with SG&A costs peaking at $21.0 million in 2025Q3, a level that appears unsustainable given the firm's critically low cash reserves of approximately $1.778 million as noted in recent disclosures.
The erratic nature of R&D and SG&A spending suggests a lack of disciplined cost control, likely driven by the unpredictable demands of clinical trial enrollment and regulatory compliance. This cost structure warrants further investigation into whether management can effectively scale operations without further dilutive financing or strategic intervention.
As reported in financial filings, the company's net income has experienced extreme fluctuations, including a $22.2 million loss in 2025Q3, which appears to be driven by non-operating items and significant overhead rather than core operational performance or sustainable business activities.
The wide variance in quarterly net income suggests that the bottom line is heavily influenced by accounting adjustments, such as warrant liabilities or contingent considerations, rather than recurring operational results. Analysts should be cautious in interpreting these figures as indicators of future profitability, as they currently reflect a distressed R&D entity.
According to recent SEC filings, the company's cash position has dwindled to $1.778 million, a figure that appears insufficient to support ongoing clinical development and regulatory efforts, potentially signaling an imminent going-concern risk that could severely limit the firm's ability to reach commercialization milestones.
The current cash-to-burn ratio suggests that the company may face an existential liquidity crisis in the near term. Investors should monitor for potential dilutive capital raises or strategic partnerships, as the current financial trajectory appears to leave little room for operational error or extended regulatory delays.
Quick answers to the most common questions about buying PFSA stock.
For fiscal year 2025, Profusa, Inc. Common Stock (PFSA) reported total revenue of $0.0M.
Profusa, Inc. Common Stock (PFSA) reported a net loss of $35.8M for the fiscal year ending 2025.