This is a pre-revenue micro-cap with a ticking cash clock — $719K cash against a $(2.0)M/month burn rate means the company needs the G3 acquisition to close or additional financing within weeks. The $10.7M debt-to-equity exchange and $650K note borrowing provide near-term bridge, but the stock remains highly speculative and binary on the G3 deal timeline. Monitor for the G3 audited financials expected by mid-September as the next catalyst.
Price Chart
Executive Summary
Profusa reported Q2 2026 results showing a deepening net loss of $(8.8)M vs $(2.3)M a year ago, with a stockholders' deficit of $(27.1)M. The filing primarily provides an update on progress toward the Option Agreement to acquire G3 Vision Labs, including $10.7M in debt/liability exchange agreements and a successful reverse stock split to maintain Nasdaq listing. The company has no revenue and is burning cash, making this a binary event stock dependent on closing the G3 acquisition.
Key Facts
- Net loss for Q2 2026 was $(8.8)M vs $(2.3)M in Q2 2025, a 283% increase
- Net loss for H1 2026 was $(12.2)M vs $(5.1)M in H1 2025
- Cash on hand at June 30, 2026 was $719,000
- Total stockholders' deficit was $(27.1)M at June 30, 2026
- Debt and liability holders executed $10.7M of Series A Convertible Exchange Agreements
- $4.57M was converted into Series A Convertible Preferred Stock
- Company borrowed $650,000 under its current note agreement for near-term working capital
- 4:1 reverse stock split effective August 18, 2026 to meet Nasdaq listing requirements
- Stockholders' equity as of July 31, 2026 expected to be $28.4M from the Option Agreement
- G3 auditors expect to issue audited 2024 and 2025 financials by mid-September
Financial Impact
Net loss widened 283% YoY to $(8.8)M for the quarter; cash burn rate of ~$2M/month with only $719K cash on hand
Risk Factors
- Cash runway of less than 2 months at current burn rate
- Option to acquire G3 may not be exercised if conditions not met
- Massive dilution from Series A Convertible Preferred Stock conversion
- Nasdaq delisting risk remains despite reverse stock split
- No revenue or path to profitability without G3 acquisition
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001213900-26-091905 |
| Document: ea030281201ex99-1.htm | 0001213900-26-091905 |
| Document: 0001213900-26-091905-index-headers.html | 0001213900-26-091905 |
| Document: 0001213900-26-091905-index.html | 0001213900-26-091905 |
| Document: 0001213900-26-091905.txt | 0001213900-26-091905 |
| 8-K Data (Synthetic) | 0001213900-26-091905 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 27, 2026 today | SC 13G/A | $0.7650 | awaiting T+5 | — | $0.7795 (+1.90%) |
Oct 15, 2026 12d ago | Press Release | $1.07 $1.02 | ▼ −4.67% | ▼ −3.66% | $0.7795 (−27.15%) |
Oct 15, 2026 12d ago | 8-K | $1.07 $1.02 | ▲ +4.67% | ▲ +3.66% | $0.7795 (+27.15%) |
Oct 9, 2026 18d ago | 8-K | $1.30 $0.9002 | ▲ +30.75% | ▲ +29.26% | $0.7795 (+40.04%) |
Oct 5, 2026 22d ago | 8-K | $1.75 $1.30 | ▼ −25.71% | ▼ −26.14% | $0.7795 (−55.46%) |
Sep 24, 2026 4w ago | Press Release | $3.03 $1.87 | ▼ −38.28% | ▼ −37.87% | $0.7795 (−74.27%) |
Sep 16, 2026 5w ago | 8-K | $1.78 $2.05 | ▼ −15.17% | ▼ −12.61% | $0.7795 (+56.21%) |
Sep 15, 2026 6w ago | 8-K | $1.83 $1.91 | ▲ +4.37% | ▲ +3.55% | $0.7795 (−57.40%) |
Sep 1, 2026 8w ago | 8-K | $2.88 $2.47 | ▲ +14.24% | ▲ +14.32% | $0.7795 (+72.93%) |
Aug 31, 2026 8w ago | 8-K | $3.00 $2.88 | ▼ −4.00% | ▼ −3.86% | $0.7795 (−74.02%) |
US Market Status
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