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NVACR

NorthView Acquisition Corporation

NVACR

NorthView Acquisition Corporation • NASDAQ
$0.23 ▲ 35.35% (+0.06)
Market Cap $78.44 M
52w High $0.25
52w Low $0.17
Dividend Yield 0%
P/E 0
Volume 1.34M
Outstanding Shares 340.88M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $21.709M ▲ $-22.192M ▼ 0% $-0.7 ▼ $-20.58M ▼
Q2-2025 $0 $967.084K ▼ $-8.197M ▼ 0% $-0.25 ▼ $-967.084K ▲
Q1-2025 $0 $1.424M ▲ $-2.716M ▼ 0% $-0.083 ▼ $-1.486M ▼
Q2-2024 $0 $253.13K ▼ $-397.487K ▲ 0% $-0.012 ▲ $-253.13K ▲
Q1-2024 $0 $1.314M $-2.385M 0% $-0.073 $-1.305M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $3.981M ▲ $4.25M ▲ $38.21M ▲ $-33.96M ▼
Q2-2025 $662.763K ▲ $1.962M ▼ $23.142M ▼ $-21.18M ▲
Q1-2025 $19K $3.239M $125.155M $-121.916M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-22.192M ▼ $-10.617M ▼ $-7.49M ▼ $20.94M ▲ $2.346M ▲ $-10.617M ▼
Q2-2025 $-6.601M ▼ $-139.173K ▲ $0 $122.475K ▼ $644.313K ▲ $-139.17K ▲
Q1-2025 $-2.716M ▼ $-537K ▼ $0 ▼ $365K ▲ $-172K ▼ $-537K ▼
Q2-2024 $1.167M ▲ $-394.878K ▲ $65.264K ▲ $330.796K ▼ $1.182K ▲ $-394.88K ▲
Q1-2024 $-2.385M $-742K $0 $610K $-132K $-742K

Five-Year Company Overview

Income Statement

Income Statement NorthView’s historical income statement looks like a bare-bones SPAC: no meaningful revenue and small but consistent losses each year. The company has been spending on listing, legal, and administrative costs without bringing in operating income, which is normal for a shell company waiting to complete a business combination. Losses have been modest in size, but there is no sign yet of a true operating business in these figures. Once the merger with Profusa is fully reflected, the profile could shift toward a typical early-stage medtech company: still loss-making, but driven by R&D, clinical, and commercial launch costs rather than pure SPAC overhead.

Balance Sheet

Balance Sheet The balance sheet shows almost no operating assets and a thin capital cushion, which is characteristic of a SPAC structure rather than a functioning operating company. There is some debt and negative equity, suggesting obligations exceed the book value of assets. This doesn’t automatically mean distress in a SPAC context, but it does highlight that NorthView on a standalone basis is not financially self-sufficient and depends on transaction proceeds and external capital. After the merger, balance sheet strength will hinge on how much cash the combined company actually retains versus redemptions, new financing, and future funding needs for Profusa’s growth plans.

Cash Flow

Cash Flow Cash flows are minimal and slightly negative, reflecting small ongoing costs with no inflows from operations. There is effectively no investment in physical assets, so free cash flow just mirrors the small operating outflows. This is typical for a SPAC before it turns into an operating company. Looking ahead, if Profusa’s plans proceed, cash usage is likely to increase meaningfully as clinical studies, regulatory work, product launches in Europe, and AI platform development all require sustained spending. The business will be reliant on external capital until it can build recurring revenue.

Competitive Edge

Competitive Edge As a SPAC, NorthView itself has no true competitive position; the story is now about Profusa. Profusa sits in a promising but highly competitive space: continuous monitoring of body chemistry. Its key edge is a biosensor that integrates with tissue and is designed to avoid the body’s rejection response, which could allow longer-lasting and more comfortable implants than many existing devices. The CE-marked oxygen platform and the ability to extend the technology to glucose and other markers give it a potential platform advantage. However, it will be competing with large, well-funded medical device and diabetes-tech players, and its real-world position will depend on clinical performance, pricing, reimbursement, and physician and patient adoption over the next several years.

Innovation and R&D

Innovation and R&D Innovation is the core of the thesis here. Profusa’s tissue-integrating hydrogel sensors, optical reader, and data platform represent a differentiated approach to long-term biosensing. The technology is flexible enough to be adapted from oxygen to glucose and potentially other biomarkers, creating a platform rather than a single-product story. External validation from grants and the partnership with NVIDIA for an AI-driven physician portal suggests strong technical ambition: moving from simple monitoring to decision-support for clinicians. The flip side is execution risk: clinical trials, regulatory approvals, AI integration with health records, and expansion into new biomarkers are all complex, multi-year efforts. R&D intensity will likely stay high, and success is uncertain until later-stage data and commercial traction are visible.

Summary

NorthView’s current reported numbers reflect a small, pre-revenue SPAC with modest recurring losses, thin equity, and no operating business of its own. The real substance now lies in Profusa, a high-innovation medtech and digital health platform focused on continuous body chemistry monitoring. The combined company is positioned at the intersection of implantable sensors, chronic disease management, and AI-enabled clinical decision support—a space with significant potential but also substantial technical, regulatory, and commercial risk. Future results will depend on executing product launches in Europe, advancing glucose and other sensors through pivotal studies, gaining broader regulatory approvals, building trusted AI tools for clinicians, and managing a non-traditional Bitcoin treasury strategy that could add financial volatility. Overall, this is an early-stage, research- and launch-intensive story with considerable uncertainty around timing and scale of future revenues.