Fusemachines Warrants (FUSEW) Financials
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 7, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the FUSEW SEC filings page.
Fusemachines Warrants (FUSEW) reported $7.7M in revenue for fiscal year 2025, down 12.5% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 2 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Cost reduction amid contraction became FUSEW’s dominant mechanic, while financing—not operations—absorbed the worsening cash requirement.
From FY2024 to FY2025, net loss narrowed to$928K even as free cash flow worsened to-$5.6M ; the accounting improvement did not translate into cash. Operating cash flow also moved in the wrong direction, making the earnings improvement primarily an income-statement event rather than evidence of stronger cash economics.
Revenue contracted while gross margin rose from
Liabilities declined to
Financial Health Signals
Fusemachines Warrants does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
Fusemachines Warrants passes 4 of 9 financial strength tests. 1 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
Fusemachines Warrants reported a net loss of $928K while operations used $5.5M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Fusemachines Warrants reported an operating loss of $6.0M against $268K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Fusemachines Warrants generated $1.8M in revenue in Q2 2026. This represents a decrease of 11.8% from the same quarter a year earlier. Against the prior quarter it is down 4.5%.
Fusemachines Warrants's EBITDA was -$2.7M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 222.1% from the same quarter a year earlier. Against the prior quarter it is up 11.5%.
Fusemachines Warrants reported -$2.8M in net income in Q2 2026. This represents a decrease of 1297.4% from the same quarter a year earlier. Against the prior quarter it is down 226.7%.
Fusemachines Warrants earned -$0.10 per diluted share (EPS) in Q2 2026. Against the prior quarter it is down 233.3%.
Cash & Balance Sheet
Fusemachines Warrants recorded an outflow of $1.3M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents a decrease of 1825.3% from the same quarter a year earlier. Against the prior quarter it is up 42.3%.
Fusemachines Warrants held $368K in cash against $300K in long-term debt as of Q2 2026, with $18.7M of liabilities due within a year.
Not reported for Q2 2026.
Margins & Returns
Fusemachines Warrants's gross margin was 53.7% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is down 5.6 percentage points from the same quarter a year earlier. Against the prior quarter it is up 3.2 percentage points.
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not reported for Q2 2026.
Capital Allocation
Fusemachines Warrants invested $292K in research and development in Q2 2026. This represents an increase of 83.6% from the same quarter a year earlier. Against the prior quarter it is down 2.0%.
Fusemachines Warrants invested $7K in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 40.0% from the same quarter a year earlier. Against the prior quarter it is down 65.0%.
Not reported for Q2 2026.
FUSEW Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.8M-11.8% | $1.9M-3.8% | N/A | N/A | $2.0M | $2.0M | N/A | N/A |
| Cost of Revenue | $831K+0.4% | $931K+7.8% | N/A | N/A | $828K | $864K | N/A | N/A |
| Gross Profit | $963K-20.1% | $948K-13.0% | N/A | N/A | $1.2M | $1.1M | N/A | N/A |
| R&D Expenses | $292K+83.6% | $298K+80.6% | N/A | N/A | $159K | $165K | N/A | N/A |
| SG&A Expenses | $3.0M+90.2% | $3.3M+69.3% | N/A | $42K+54.3% | $1.6M | $1.9M | N/A | $27K |
| Operating Income | -$2.7M-215.7% | -$3.0M-130.6% | N/A | -$1.1M-84.8% | -$852K | -$1.3M | N/A | -$613K |
| EBITDA | -$2.7M-222.1% | -$3.0M-133.2% | N/A | N/A | -$827K | -$1.3M | N/A | N/A |
| Interest Expense | -$52K+28.8% | -$54K+18.2% | N/A | $17.6M | -$73K | -$66K | N/A | N/A |
| Income Tax | N/A | $4K | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Income | -$2.8M-1297.4% | -$872K+57.7% | N/A | -$19.8M-14827.4% | -$204K-148.3% | -$2.1M-1492.3% | N/A | -$133K |
| EPS (Basic) | -$0.10+80.8% | -$0.030.0% | N/A | N/A | -$0.52 | -$0.03 | N/A | N/A |
| EPS (Diluted) | -$0.10 | -$0.03 | N/A | N/A | -$0.52 | -$0.03 | N/A | N/A |
| Diluted Shares (Avg) | 29M | 29M | N/A | N/A | 7M | 7M | N/A | N/A |
FUSEW Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $3.2M | $4.9M | $7.5M+35.8% | $12.4M | N/A | N/A | $5.5M | N/A |
| Current Assets | $2.0M | $3.7M | $6.3M+51.6% | $12.4M | N/A | N/A | $4.1M | N/A |
| Cash & Equivalents | $368K | $1.8M | $4.2M+744.2% | $9.4M | N/A | N/A | $500K | N/A |
| Short-Term Investments | $0 | $0 | $0 | $12.3M | N/A | N/A | $0 | N/A |
| Accounts Receivable | $1.1M | $1.2M | $1.3M-11.4% | N/A | N/A | N/A | $1.4M | N/A |
| Long-Term Investments | $0 | $0 | $0 | $0 | N/A | N/A | $0 | N/A |
| Total Liabilities | $20.5M | $20.0M | $22.1M-25.9% | $55.0M | N/A | N/A | $29.9M | N/A |
| Current Liabilities | $18.7M | $18.1M | $20.0M-1.3% | $43.9M | N/A | N/A | $20.3M | N/A |
| Non-Current Liabilities | $1.8M | $1.8M | $2.1M-78.4% | $11.1M | N/A | N/A | $9.5M | N/A |
| Long-Term Debt | $300K | $300K | $300K-95.5% | N/A | N/A | N/A | $6.7M | N/A |
| Total Equity | -$17.4M+37.6% | -$15.0M+37.6% | -$14.6M+40.0% | -$42.6M-318.3% | -$27.8M-193.7% | -$24.1M-166.9% | -$24.3M | -$10.2M |
| Retained Earnings | -$39.0M | -$36.1M | -$35.1M-2.7% | -$32.9M | N/A | N/A | -$34.2M | N/A |
Not reported in any period shown, so not listed: Inventory, Goodwill.
FUSEW Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$1.3M-1708.7% | -$2.2M-871.2% | -$5.3M-48.8% | -$92K | $80K | -$229K | -$3.6M | N/A |
| Depreciation & Amortization | $26K+4.0% | $24K-4.0% | N/A | N/A | $25K | $25K | N/A | N/A |
| Stock-Based Compensation | $52K-1.9% | $406K+524.6% | N/A | N/A | $53K | $65K | N/A | N/A |
| Capital Expenditures | $7K+40.0% | $20K+1900.0% | N/A | N/A | $5K | $1K | N/A | N/A |
| Free Cash Flow | -$1.3M-1825.3% | -$2.2M-875.7% | N/A | N/A | $75K | -$230K | N/A | N/A |
| Investing Cash Flow | -$59K-63.9% | -$56K-133.3% | -$3.9M | $3.8M | -$36K | -$24K | N/A | N/A |
| Financing Cash Flow | -$49K | -$174K-196.7% | $13.0M | -$3.8M | $0 | $180K | N/A | N/A |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
FUSEW Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 53.7%-5.6pp | 50.4%-5.3pp | N/A | N/A | 59.3% | 55.8% | N/A | N/A |
| Operating Margin | -149.9% | -161.5% | N/A | N/A | -41.9% | -67.3% | N/A | N/A |
| Net Margin | -158.8% | -46.4% | N/A | N/A | -10.0% | -105.5% | N/A | N/A |
| Return on Assets | -89.8% | -17.6% | N/A | -160.6% | N/A | N/A | N/A | N/A |
| Current Ratio | 0.11 | 0.21 | 0.31+0.1x | 0.28 | N/A | N/A | 0.20 | N/A |
| Asset Turnover | 0.57 | 0.38 | N/A | N/A | N/A | N/A | N/A | N/A |
| FCF Margin | -72.1%-75.8pp | -119.4% | N/A | N/A | 3.7% | -11.8% | N/A | N/A |
Not reported in any period shown, so not listed: Return on Equity, Debt-to-Equity.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.
Note: Shareholder equity is negative (-$14.6M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Note: The current ratio is below 1.0 (0.31), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Where Fusemachines Warrants Ranks
Frequently Asked Questions
What is Fusemachines Warrants's annual revenue?
Fusemachines Warrants (FUSEW) reported $7.7M in total revenue for fiscal year 2025. This represents a -12.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Fusemachines Warrants's revenue growing?
Fusemachines Warrants (FUSEW) revenue declined by 12.5% year-over-year, from $8.8M to $7.7M in fiscal year 2025.
Is Fusemachines Warrants profitable?
No, Fusemachines Warrants (FUSEW) reported a net income of -$928K in fiscal year 2025, with a net profit margin of -12.0%.
What is Fusemachines Warrants's EBITDA?
Fusemachines Warrants (FUSEW) had EBITDA of -$5.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Fusemachines Warrants have?
As of fiscal year 2025, Fusemachines Warrants (FUSEW) had $4.2M in cash and equivalents against $300K in long-term debt.
What is Fusemachines Warrants's gross margin?
Fusemachines Warrants (FUSEW) had a gross margin of 55.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Fusemachines Warrants's operating margin?
Fusemachines Warrants (FUSEW) had an operating margin of -77.2% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Fusemachines Warrants's net profit margin?
Fusemachines Warrants (FUSEW) had a net profit margin of -12.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Fusemachines Warrants's free cash flow?
Fusemachines Warrants (FUSEW) recorded an outflow of $5.6M in free cash flow during fiscal year 2025. This represents a -151.9% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Fusemachines Warrants's operating cash flow?
Fusemachines Warrants (FUSEW) recorded an outflow of $5.5M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Fusemachines Warrants's total assets?
Fusemachines Warrants (FUSEW) had $7.5M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Fusemachines Warrants's capital expenditures?
Fusemachines Warrants (FUSEW) invested $53K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Fusemachines Warrants spend on research and development?
Fusemachines Warrants (FUSEW) invested $720K in research and development during fiscal year 2025.
What is Fusemachines Warrants's current ratio?
Fusemachines Warrants (FUSEW) had a current ratio of 0.31 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Fusemachines Warrants's return on assets (ROA)?
Fusemachines Warrants (FUSEW) had a return on assets of -12.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
Why is Fusemachines Warrants's debt-to-equity ratio negative or not reported?
Fusemachines Warrants (FUSEW) has negative shareholder equity of -$14.6M as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Fusemachines Warrants's Piotroski F-Score?
Fusemachines Warrants (FUSEW) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Fusemachines Warrants's earnings high quality?
Fusemachines Warrants (FUSEW) reported a net loss of $928K while operations used $5.5M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Fusemachines Warrants cover its interest payments?
Fusemachines Warrants (FUSEW) reported an operating loss of $6.0M against $268K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.