Fusemachines Inc. FUSE
is a leading provider of enterprise AI solutions, offering AI products including AI Studio, AI Engines, and AI Agents, along with supporting
services to organizations across a wide range of industries. With more than a decade of experience, we help enterprises integrate AI
into their operations to improve efficiency, reduce costs, and drive innovation. Our products and services are uniquely supported by
a global talent pool largely sourced from underserved communities, enabling us to deliver high quality AI solutions at scale while advancing
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| Revenue | $7.7M | $8.8M | — |
| Cost of revenue | $3.4M | $4.0M | — |
| Gross profit | $4.3M | $4.8M | — |
| R&D | $720.0K | $732.0K | — |
| SG&A | $8.2M | $10.3M | — |
| Total operating expenses | $10.3M | $13.0M | — |
| Operating income | -$6.0M | -$8.2M | — |
| Interest expense | $268.0K | $234.0K | — |
| Pre-tax income | -$925.0K | -$15.4M | — |
| Income tax | $3.0K | $31.0K | — |
| Net income | -$928.0K | -$15.4M | — |
| EPS, basic | -0.08 | -2.21 | — |
| EPS, diluted | -0.08 | -2.21 | — |
| Shares, diluted (wtd. avg.) | 11.5M | 7.0M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| Cash and equivalents | $9.4M | $500.0K | — |
| Receivables | $1.3M | $1.4M | — |
| Total current assets | $6.3M | $4.1M | — |
| Property, plant and equipment | $305.0K | $348.0K | — |
| Other intangibles | $206.0K | $187.0K | — |
| Total assets | $7.5M | $5.5M | — |
| Accounts payable | $5.0M | $6.5M | — |
| Short-term debt | $300.0K | $9.9M | — |
| Total current liabilities | $20.0M | $20.3M | — |
| Long-term debt | $300.0K | $6.7M | — |
| Total liabilities | $22.1M | $29.9M | — |
| Retained earnings | -$35.1M | -$34.2M | — |
| Total equity | -$14.6M | -$24.3M | -$8.5M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| Operating cash flow | -$5.5M | -$2.2M | — |
| Depreciation and amortisation | $96.8K | $108.6K | — |
| Stock-based compensation | $231.0K | $1.1M | — |
| Capital expenditure | $53.0K | $15.0K | — |
| Investing cash flow | -$165.0K | -$176.0K | — |
| Financing cash flow | $9.4M | $2.6M | — |
| Buybacks | — | $2.0M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001493152-26-019155.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Revenue | — | $8.8M | $7.7M |
| Gross profit | — | $4.8M | $4.3M |
| Net income | — | -$15.4M | -$928.0K |
Recent filings and events
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Officer or director change Item 5.02
- Material agreement signed Item 1.01
- New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
- Unregistered share sale Item 3.02
- Regulation FD disclosure Item 7.01
- Delisting notice The exchange has told the company it no longer meets the rules for staying listed - usually price, market cap, or filings that are late. Item 3.01
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Other event Item 8.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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