NASDAQ : FUSE
Fusemachines Inc. — Financial statements
Technology · Software - Application · United States
Last price 0.368 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 10.67M
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Financial statements
Fusemachines Inc. (FUSE) reported revenue of 7.40M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | 7.40M | 7.71M | 8.81M | 7.44M | 6.88M |
| Cost of Revenue | 3.48M | 3.41M | 3.98M | 3.20M | 2.12M |
| Gross Profit | 3.92M | 4.31M | 4.83M | 4.24M | 4.76M |
| Selling, General & Admin | 12.45M | 9.54M | 12.30M | 8.92M | 5.18M |
| Research & Development | 986.00K | 720.00K | 732.00K | 604.00K | 275.00K |
| Operating Expenses | 13.43M | 10.26M | 13.03M | 9.52M | 5.46M |
| Operating Income | -9.51M | -5.95M | -8.19M | -5.29M | -696.00K |
| Interest Expense | -235.00K | -268.00K | -234.00K | -451.00K | -158.00K |
| Earnings From Equity Investments | -3.00K | ||||
| Other Non Operating Income (Expenses) | 698.00K | -856.00K | -25.87K | -261.00K | 20.00K |
| EBT Excluding Unusual Items | -9.05M | -7.08M | -8.46M | -6.00M | -834.00K |
| Gain (Loss) on Sale of Investments | -120.13K | ||||
| Other Unusual Items | 8.44M | 6.15M | -6.78M | -754.00K | 106.00K |
| Pretax Income | -603.00K | -925.00K | -15.35M | -6.75M | -728.00K |
| Income Tax Expense | 7.00K | 3.00K | 31.00K | 11.00K | 23.00K |
| Net Income | -610.00K | -928.00K | -15.38M | -6.76M | -751.00K |
| Net Income to Common | -694.00K | -928.00K | -15.38M | -6.76M | -751.00K |
| Shares Outstanding (Basic) | 22.37M | 11.53M | 6.96M | 9.22M | 9.22M |
| Shares Outstanding (Diluted) | 22.37M | 11.53M | 6.96M | 9.22M | 9.22M |
| EPS (Basic) | -0.03 | -0.08 | -2.21 | -0.73 | -0.08 |
| EPS (Diluted) | -0.03 | -0.08 | -2.21 | -0.73 | -0.08 |
| Free Cash Flow | -8.96M | -5.58M | -2.22M | -2.67M | -775.00K |
| Free Cash Flow Per Share | -0.40 | -0.48 | -0.32 | -0.29 | -0.08 |
| Gross Margin | 53.01% | 55.83% | 54.87% | 56.99% | 69.20% |
| Operating Margin | -128.51% | -77.18% | -93.00% | -71.05% | -10.12% |
| Profit Margin | -9.38% | -12.03% | -174.59% | -90.91% | -10.92% |
| Free Cash Flow Margin | -121.15% | -72.36% | -25.15% | -35.92% | -11.27% |
| EBITDA | -9.41M | -5.86M | -8.09M | -5.19M | -630.70K |
| EBITDA Margin | -127.22% | -75.94% | -91.76% | -69.75% | -9.17% |
| D&A For EBITDA | 95.60K | 95.60K | 109.00K | 96.80K | 65.30K |
| EBIT | -9.51M | -5.95M | -8.19M | -5.29M | -696.00K |
| EBIT Margin | -128.51% | -77.18% | -93.00% | -71.05% | -10.12% |
| Advertising Expenses | 61.80K | 126.20K | 100.20K |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Cash & Equivalents | 368.00K | 4.22M | 500.00K | 266.00K | 903.00K |
| Cash & Short-Term Investments | 368.00K | 4.22M | 500.00K | 266.00K | 903.00K |
| Accounts Receivable | 1.15M | 1.28M | 1.54M | 1.17M | 956.00K |
| Other Receivables | 98.00K | 96.00K | 86.00K | 49.00K | |
| Receivables | 1.15M | 1.38M | 1.64M | 1.25M | 1.00M |
| Prepaid Expenses | 451.00K | 571.00K | 88.00K | 45.00K | 26.00K |
| Other Current Assets | 18.00K | 83.90K | 1.90M | 225.60K | 33.00K |
| Total Current Assets | 1.99M | 6.25M | 4.12M | 1.79M | 1.97M |
| Property, Plant & Equipment | 934.00K | 1.05M | 1.22M | 1.42M | 1.36M |
| Other Intangible Assets | 226.00K | 206.00K | 187.00K | 113.00K | 29.00K |
| Long-Term Accounts Receivable | 4.00K | 22.00K | |||
| Long-Term Deferred Tax Assets | 11.00K | 11.00K | 10.00K | ||
| Long-Term Deferred Charges | 2.60K | 3.20K | 5.00K | 1.60K | |
| Other Long-Term Assets | 11.40K | 12.80K | 400.00 | 4.00K | |
| Total Assets | 3.17M | 7.54M | 5.55M | 3.35M | 3.36M |
| Accounts Payable | 5.17M | 5.01M | 6.54M | 1.17M | 563.00K |
| Accrued Expenses | 4.97M | 4.62M | 3.70M | 1.81M | 703.00K |
| Short-Term Debt | 119.00K | 342.00K | |||
| Current Portion of Long-Term Debt | 300.00K | 300.00K | 9.94M | 191.00K | 395.00K |
| Current Portion of Leases | 89.00K | 85.00K | 74.00K | 87.00K | 26.00K |
| Current Unearned Revenue | 54.00K | 21.00K | 192.00K | ||
| Other Current Liabilities | 8.08M | 9.69M | 3.00K | 162.00K | 79.00K |
| Total Current Liabilities | 18.74M | 20.05M | 20.31M | 3.43M | 1.96M |
| Long-Term Debt | 6.72M | 6.03M | 3.33M | ||
| Long-Term Leases | 667.00K | 751.00K | 878.00K | 979.00K | 1.05M |
| Other Long-Term Liabilities | 1.12M | 1.31M | 1.95M | 1.38M | 894.00K |
| Total Liabilities | 20.53M | 22.11M | 29.85M | 11.82M | 7.23M |
| Common Stock | 3.00K | 3.00K | 1.00K | 2.00K | 2.00K |
| Additional Paid-In Capital | 32.33M | 31.31M | 4.70M | 2.31M | 153.00K |
| Retained Earnings | -38.95M | -35.15M | -34.22M | -18.83M | -12.07M |
| Treasury Stock | -2.90M | ||||
| Comprehensive Income & Other | -10.74M | -10.74M | 250.00K | 193.00K | 199.00K |
| Total Common Equity | -17.35M | -14.58M | -32.17M | -16.33M | -11.72M |
| Shareholders' Equity | -17.35M | -14.58M | -24.30M | -8.47M | -3.88M |
| Total Liabilities & Equity | 3.17M | 7.54M | 5.55M | 3.35M | 3.36M |
| Total Debt | 1.18M | 1.48M | 17.62M | 7.28M | 4.80M |
| Net Cash (Debt) | -807.00K | 2.74M | -17.12M | -7.02M | -3.90M |
| Net Cash Per Share | -0.04 | 0.24 | -2.46 | -0.76 | -0.42 |
| Filing Date Shares Outstanding | 28.99M | 28.94M | 11.04M | 9.22M | 9.22M |
| Total Common Shares Outstanding | 28.99M | 28.94M | 11.04M | 9.22M | 9.22M |
| Working Capital | -16.75M | -13.79M | -16.18M | -1.64M | 9.00K |
| Book Value Per Share | -0.60 | -0.50 | -2.91 | -1.77 | -1.27 |
| Tangible Book Value | -17.58M | -14.78M | -32.36M | -16.45M | -11.75M |
| Tangible Book Value Per Share | -0.61 | -0.51 | -2.93 | -1.78 | -1.27 |
| Buildings | 160.00K | 167.00K | 157.00K | ||
| Machinery | 584.00K | 539.00K | 537.00K | 474.00K | |
| Leasehold Improvements | 90.00K | 94.00K | 75.00K | 57.00K |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Net Income | -610.00K | -928.00K | -15.38M | -6.76M | -751.00K |
| Depreciation & Amortization | 183.60K | 183.60K | 219.00K | 241.80K | 162.30K |
| Other Amortization | 118.40K | 93.40K | 70.00K | 68.20K | 5.70K |
| Loss (Gain) From Sale of Investments | 120.00K | ||||
| Loss (Gain) on Equity Investments | 2.00K | ||||
| Stock-Based Compensation | 991.00K | 231.00K | 1.07M | 2.15M | |
| Provision & Write-off of Bad Debts | -50.00K | 55.00K | 540.00K | 103.00K | 161.00K |
| Other Operating Activities | -8.84M | -4.95M | 6.77M | 813.00K | -36.00K |
| Change in Accounts Receivable | -64.00K | 133.00K | -925.00K | -340.00K | -384.00K |
| Change in Accounts Payable | -1.24M | -200.00K | 3.71M | 560.00K | 105.00K |
| Change in Unearned Revenue | -54.00K | 33.00K | -172.00K | 5.00K | |
| Change in Other Net Operating Assets | 621.00K | -91.00K | 1.57M | 860.00K | 143.00K |
| Operating Cash Flow | -8.89M | -5.53M | -2.20M | -2.47M | -589.00K |
| Capital Expenditures | -74.00K | -53.00K | -15.00K | -198.00K | -186.00K |
| Sale of Property, Plant & Equipment | 3.00K | ||||
| Sale (Purchase) of Intangibles | -146.00K | -112.00K | -144.00K | -96.00K | -35.00K |
| Other Investing Activities | -20.00K | ||||
| Investing Cash Flow | -220.00K | -165.00K | -176.00K | -294.00K | -221.00K |
| Short-Term Debt Issued | 382.00K | 300.00K | |||
| Long-Term Debt Issued | 180.00K | 7.66M | 3.56M | 428.00K | |
| Total Debt Issued | 410.00K | 562.00K | 7.66M | 3.85M | 428.00K |
| Short-Term Debt Repaid | -40.00K | -461.00K | -172.00K | ||
| Long-Term Debt Repaid | -700.00K | -3.00M | -1.15M | -75.00K | |
| Total Debt Repaid | -991.00K | -740.00K | -3.00M | -1.61M | -247.00K |
| Net Debt Issued (Repaid) | -581.00K | -178.00K | 4.66M | 2.25M | 181.00K |
| Issuance of Common Stock | 10.43M | 10.43M | 12.00K | 901.00K | |
| Repurchase of Common Stock | -2.00M | ||||
| Other Financing Activities | -836.00K | -836.00K | -55.00K | -111.00K | |
| Financing Cash Flow | 9.02M | 9.42M | 2.61M | 2.14M | 1.08M |
| Foreign Exchange Rate Adjustments | -7.00K | -3.00K | -1.00K | -7.00K | 38.00K |
| Net Cash Flow | -103.00K | 3.72M | 234.00K | -637.00K | 310.00K |
| Free Cash Flow | -8.96M | -5.58M | -2.22M | -2.67M | -775.00K |
| Free Cash Flow Margin | -121.15% | -72.36% | -25.15% | -35.92% | -11.27% |
| Free Cash Flow Per Share | -0.40 | -0.48 | -0.32 | -0.29 | -0.08 |
| Levered Free Cash Flow | 7.08M | 965.50K | -257.00K | ||
| Unlevered Free Cash Flow | 7.24M | 1.11M | -32.12K | ||
| Cash Interest Paid | 8.00K | 26.00K | 248.00K | 35.00K | |
| Cash Income Tax Paid | 35.00K | 31.00K | 10.00K | 14.00K | 11.00K |
| Change in Working Capital | -682.00K | -212.00K | 4.39M | 908.00K | -131.00K |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Market Capitalization | 11.12M | 45.46M | 70.34M | 103.63M | 240.03M |
| Enterprise Value | 11.93M | 69.13M | 93.81M | ||
| Last Close Price | 0.38 | 1.65 | 11.50 | 10.89 | 10.12 |
| PS Ratio | 1.50 | 5.89 | 7.98 | 13.93 | 34.90 |
| PB Ratio | -3.12 | -2.89 | -12.24 | -61.90 | |
| EV/Sales Ratio | 1.61 | 8.96 | 10.65 | ||
| Debt / Equity Ratio | -0.07 | -0.10 | -0.72 | -0.86 | -1.24 |
| Net Debt / Equity Ratio | -0.05 | 0.19 | -0.70 | -0.83 | -1.01 |
| Net Debt / EBITDA Ratio | -0.09 | 0.47 | -2.12 | -1.35 | -6.18 |
| Net Debt / FCF Ratio | -0.09 | 0.49 | -7.72 | -2.63 | -5.03 |
| Asset Turnover | 1.18 | 1.98 | 2.22 | ||
| Quick Ratio | 0.08 | 0.28 | 0.10 | 0.44 | 0.97 |
| Current Ratio | 0.11 | 0.31 | 0.20 | 0.52 | 1.00 |
| Return on Assets (ROA) | -56.88% | -115.12% | -98.53% | ||
| Return on Capital Employed (ROCE) | 61.10% | 47.60% | 55.50% | 6,217.60% | -49.80% |
| Earnings Yield | -8.08% | -2.04% | -21.87% | -6.53% | -0.31% |
| FCF Yield | -80.59% | -12.28% | -3.15% | -2.58% | -0.32% |
| Buyback Yield / Dilution | -258.55% | -65.63% | 24.53% |