Fusemachines Inc. (FUSE) Income Statement
FUSE 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsFUSE revenue and net income
Where FUSE's revenue goes
2025Each bar shows an amount and its share of revenue. FUSE kept −12.0% of revenue as net income.
FUSE profit margins
FUSE growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −98.6% | +3.9% | — | — |
| Gross profit | −99.2% | −3.3% | — | — |
| Operating income | −122.3% | — | — | — |
| Net income | −110.1% | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
FUSE quarterly EPS vs estimates
Next report: November 6, 2026.
FUSE income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Revenue | $7.7M | $533.0M | $7.4M | $6.9M | $0 |
| Cost of revenue | $3.4M | −$12.9M | $3.2M | $2.1M | — |
| Gross profit | $4.3M | $545.9M | $4.2M | $4.8M | — |
| Research & development | $720,000 | $732,000 | $604,000 | $275,000 | — |
| Sales, general & admin | $9.5M | $12.3M | $8.9M | $5.2M | — |
| Total operating expenses | $10.3M | $519.3M | $9.5M | $5.5M | $49,154 |
| Operating income | −$6.0M | $26.6M | −$5.3M | −$696,000 | −$49,154 |
| Interest expense | $268,000 | $24.2M | $451,000 | $158,000 | — |
| Income before taxes | −$925,000 | $9.5M | −$6.8M | −$728,000 | −$49,154 |
| Income taxes | $3,000 | $354,000 | $11,000 | $23,000 | — |
| Net income | −$928,000 | $9.1M | −$6.8M | −$751,000 | −$49,154 |
| EBITDA | −$380,000 | $34.0M | −$6.0M | −$402,000 | −$49,154 |
| EPS (diluted) | −$2.79 | $0.00 | $0.23 | $0.09 | $0.00 |
| Gross margin | 55.8% | 102.4% | 57.0% | 69.2% | — |
| Operating margin | −77.2% | 5.0% | −71.1% | −10.1% | — |
| Net margin | −12.0% | 1.7% | −90.9% | −10.9% | — |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.8M | $1.9M | $7.7M | $0 | $2.0M | $2.0M | $2.0M | $398.1M | $130.8M | $1.9M | $0 | $0 |
| Cost of revenue | $831,000 | $931,000 | $3.4M | — | $828,000 | $864,000 | $864,000 | $44.9M | $40.2M | $907,000 | — | — |
| Gross profit | $963,000 | $948,000 | $4.3M | — | $1.2M | $1.1M | $1.1M | $90.6M | $130.8M | $1.0M | — | — |
| Research & development | $292,000 | $298,000 | $720,000 | — | $159,000 | $165,000 | $165,000 | — | — | $221,000 | — | — |
| Sales, general & admin | $3.4M | $3.7M | — | — | $1.9M | $2.2M | $2.2M | $10.6M | $10.5M | $2.6M | — | — |
| Total operating expenses | $3.7M | $4.0M | $8.3M | $1.1M | $374,417 | $3.3M | $2.4M | $388.7M | $125.1M | $2.8M | $595,541 | $312,364 |
| Operating income | −$2.7M | −$3.0M | −$4.0M | −$1.1M | −$374,417 | −$1.3M | −$1.3M | $24.1M | $5.7M | −$1.8M | −$595,541 | −$312,364 |
| Interest expense | $52,000 | $54,000 | — | $17.6M | $73,000 | $66,000 | $66,000 | $27,287 | $6.7M | $44,000 | $28,288 | — |
| Income before taxes | −$2.8M | −$868,000 | $21.2M | −$19.8M | −$203,872 | −$253,000 | −$253,000 | $14.8M | $1.3M | −$3.3M | $57,150 | $857,708 |
| Income taxes | — | $4,000 | $3,000 | — | — | — | −$41,000 | $3.3M | −$1.8M | — | — | — |
| Net income | −$2.8M | −$872,000 | $21.2M | −$19.8M | −$203,872 | −$253,000 | −$253,000 | −$132,909 | $3.1M | −$3.3M | $57,150 | $857,708 |
| EBITDA | −$2.6M | −$736,000 | −$3.8M | −$1.1M | −$374,417 | −$121,000 | −$121,000 | $6.4M | $8.0M | −$3.2M | $85,439 | $857,706 |
| EPS (diluted) | −$0.10 | −$0.03 | $0.73 | −$3.46 | −$0.03 | −$0.02 | −$0.04 | −$0.02 | $0.04 | $0.02 | $0.01 | $0.06 |
| Gross margin | 53.7% | 50.5% | 55.8% | — | 59.3% | 55.8% | 55.8% | 22.8% | 100.0% | 52.7% | — | — |
| Operating margin | −149.9% | −161.5% | −52.4% | — | −18.4% | −67.3% | −67.3% | 6.1% | 4.4% | −95.3% | — | — |
| Net margin | −158.8% | −46.4% | 274.5% | — | −10.0% | −12.9% | −12.9% | −0.0% | 2.4% | −171.9% | — | — |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in FUSE's financial statements (latest annual report filed December 31, 2025); data from EODHD. Sales, general & administrative expenses include sales and marketing.
FUSE financial results
In fiscal year 2025 (ended December 31, 2025), Fusemachines reported revenue of $7.7 million, down 98.6% from the year before. It had a net loss of $0.9 million, a net profit margin of −12.0%. Diluted earnings per share came to −$2.79.
See the FUSE stock overview for the latest quote and news, or the FUSE chart for price history and technical indicators.
FUSE income statement FAQ
What is Fusemachines's annual revenue?
Fusemachines reported total revenue of $7.7 million for fiscal year 2025, which ended on December 31, 2025. That was down 98.6% from $533.0 million the previous year.
Is Fusemachines profitable?
No. Fusemachines reported a net loss of $0.9 million in fiscal 2025, a net profit margin of −12.0%; its operating margin was −77.2%.
What is Fusemachines's gross margin?
Fusemachines's gross margin was 55.8% in fiscal 2025: for every $100 of revenue, Fusemachines kept $56 after the direct cost of its products and services.
How much does Fusemachines spend on research and development?
Fusemachines spent $0.7 million on research and development in fiscal 2025, 9.3% of revenue.
What are Fusemachines's earnings per share?
Fusemachines earned $-2.79 per diluted share in fiscal 2025, compared with $-0.00 a year earlier.
When will Fusemachines report its next earnings?
Fusemachines is expected to report results for the quarter ending September 30, 2026 on November 6, 2026.
When does Fusemachines's fiscal year end?
Fusemachines's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on December 31, 2025.