FUSEW Fusemachines Inc. - Warrants
NASDAQ · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Aug 7, 2026
$0.04
· of 52w range
· above low
· to high
$0.0352w low
$0.3952w high
Market Cap (MRQ)
$1M
P/E
-0.5
EPS
$-0.08
Revenue
$8M
your badges
52W Range
$0–$0
Analyst Rating
·
Price Target
·
P/E
-0.5
ROE
7.1%
Net Profit Margin
-12.0%
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FUSEW Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$0.04
Market Cap (MRQ)
$1M
P/E
-0.5
EPS
$-0.08
Revenue
$8M
ROE
7.1%
Debt/Equity (MRQ)
-0.0
52W Range
$0–$0
FUSEW Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue$8M2024-12-31 → 2025-12-31
EPS$-0.082024-12-31 → 2025-12-31
Free Cash Flow$-6M2025-12-31 → 2025-12-31
Net margin-12.0%2025-12-31 → 2025-12-31
Valuation & Ratios
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | FUSEW | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E | -0.5 | · | · | · | |
| P/S | 0.2 | · | · | · | |
| P/B (MRQ) | -0.1 | · | · | · | |
| EV / EBITDA | 0.4 | · | · | · | |
| Price / FCF | -0.2 | · | · | · | |
| Price / Cash Flow | -0.2 | · | · | · | |
| EV / Revenue | -0.3 | · | · | · | |
| EV / FCF | 0.4 | · | · | · | |
| Price / Tangible Book (MRQ) | -0.1 | · | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | FUSEW | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Gross Margin | 55.8% | · | · | · | |
| Operating Margin | -77.2% | · | · | · | |
| EBITDA Margin | -77.2% | · | · | · | |
| Pretax Margin | -12.0% | · | · | · | |
| Net Profit Margin | -12.0% | · | · | · | |
| ROA | -14.2% | · | · | · | |
| ROE | 7.1% | · | · | · | |
| ROIC | 42.9% | · | · | · |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | FUSEW | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Debt / Equity (MRQ) | -0.0 | · | · | · | |
| Current Ratio (MRQ) | 0.1 | · | · | · | |
| Quick Ratio | 0.3 | · | · | · |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
| Metric | 5Y trend | FUSEW | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Revenue YoY | -12.4% | · | · | · |
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | FUSEW | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 1.2 | · | · | · | |
| Receivables Turnover | 5.7 | · | · | · | |
| Revenue / Employee | ≈$28.6K | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 |
|---|---|---|---|
| Revenue | $8M | $9M | |
| Cost of Revenue | $3M | $4M | |
| Gross Profit | $4M | $5M | |
| R&D Expense | $720.0K | $732.0K | |
| SG&A Expense | $8M | $10M | |
| Operating Expenses | $10M | $13M | |
| Operating Income | $-6M | $-8M | |
| Other Non-op | $220.0K | $-148.0K | |
| Pretax Income | $-925.0K | $-15M | |
| Income Tax | $3.0K | $31.0K | |
| Net Income | $-928.0K | $-15M | |
| EPS (Basic) | $-0.08 | $-2.21 | |
| EPS (Diluted) | $-0.08 | $-2.21 | |
| Shares (Basic) | 11,525,384 | 6,958,570 | |
| Shares (Diluted) | 11,525,384 | 6,958,570 | |
| EBITDA | $-6M | · |
Balance Sheet
| Metric | Trend | 2025 | 2024 |
|---|---|---|---|
| Cash & Equivalents | $4M | $500.0K | |
| Short-term Investments | · | $16M | |
| Receivables | $1M | $1M | |
| Prepaid Expense | $753.0K | $219.0K | |
| Other Current Assets | $62.0K | · | |
| Current Assets | $6M | $4M | |
| PP&E (Net) | $305.0K | $348.0K | |
| PP&E (Gross) | $834.0K | $800.0K | |
| Accum. Depreciation | $529.0K | $452.0K | |
| Intangibles | $206.0K | $187.0K | |
| Other Non-current Assets | $16.0K | $5.0K | |
| Total Assets | $8M | $6M | |
| Accounts Payable | $5M | $7M | |
| Accrued Liabilities | · | $968.6K | |
| Short-term Debt | $342.0K | $3M | |
| Current Liabilities | $20M | $20M | |
| Capital Leases | $751.0K | $878.0K | |
| Total Liabilities | $22M | $30M | |
| Long-term Debt | $300.0K | $17M | |
| Total Debt | $642.0K | · | |
| Common Stock | $3.0K | $1.0K | |
| Paid-in Capital | $31M | $5M | |
| Retained Earnings | $-35M | $-34M | |
| Treasury Stock | · | $3M | |
| AOCI | $260.0K | $250.0K | |
| Stockholders' Equity | $-15M | $-24M | |
| Liabilities + Equity | $8M | $6M | |
| Shares Outstanding | 28,938,266 | 7,264,192 |
Cash Flow
| Metric | Trend | 2025 | 2024 |
|---|---|---|---|
| D&A | $96.0K | $109.0K | |
| Stock-based Comp | $231.0K | $1M | |
| Deferred Tax | $1.0K | $11.0K | |
| Amort. of Intangibles | $93.0K | $70.0K | |
| Operating Cash Flow | $-6M | $-2M | |
| CapEx | $53.0K | $15.0K | |
| Investing Cash Flow | $-165.0K | $-176.0K | |
| Stock Repurchased | · | $2M | |
| Financing Cash Flow | $9M | $3M | |
| Net Change in Cash | $4M | $234.0K | |
| Taxes Paid | $31.0K | $10.0K | |
| Free Cash Flow | $-6M | · |
Profitability
| Metric | Trend | 2025 | 2024 |
|---|---|---|---|
| Gross Margin | 55.8% | · | |
| Operating Margin | -77.2% | · | |
| Net Margin | -12.0% | · | |
| Pretax Margin | -12.0% | · | |
| EBITDA Margin | -77.2% | · | |
| ROA | -14.2% | · | |
| ROE | 7.1% | · | |
| ROIC | 42.9% | · |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 |
|---|---|---|---|
| Current Ratio | 0.3 | · | |
| Quick Ratio | 0.3 | · | |
| Debt / Equity | -0.0 | · |
Efficiency
| Metric | Trend | 2025 | 2024 |
|---|---|---|---|
| Asset Turnover | 1.2 | · | |
| Receivables Turnover | 5.7 | · |
Per Share
| Metric | Trend | 2025 | 2024 |
|---|---|---|---|
| Book Value / Share | $-0.50 | · | |
| Revenue / Share | $0.67 | · | |
| Cash Flow / Share | $-0.48 | · | |
| Cash / Share | $0.15 | · | |
| EPS (TTM) | $-0.08 | · |
Growth Rates
| Metric | Trend | 2025 | 2024 |
|---|---|---|---|
| Revenue YoY | -12.4% | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 |
|---|---|---|---|
| Revenue TTM | $8M | · | |
| Net Income TTM | $-928.0K | · | |
| Market Cap | $2M | · | |
| Enterprise Value | $-2M | · | |
| P/E | -0.8 | · | |
| P/S | 0.2 | · | |
| P/B | -0.1 | · | |
| P / Cash Flow | -0.3 | · | |
| P / FCF | -0.3 | · | |
| EV / EBITDA | 0.3 | · | |
| EV / FCF | 0.3 | · | |
| EV / Revenue | -0.2 | · | |
| Earnings Yield | -129.0% | · |
Income Statement
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | $2M | $2M | · | · | $2M | $2M | |
| Cost of Revenue | $831.0K | $931.0K | · | · | $828.0K | $864.0K | |
| Gross Profit | $963.0K | $948.0K | · | · | $1M | $1M | |
| R&D Expense | $292.0K | $298.0K | · | · | $159.0K | $165.0K | |
| SG&A Expense | $3M | $3M | $8M | $42.1K | $2M | $2M | |
| Operating Expenses | $4M | $4M | $8M | $1M | $2M | $2M | |
| Operating Income | $-3M | $-3M | $-4M | $-1M | $-852.0K | $-1M | |
| Other Non-op | $-125.0K | $75.0K | $20M | $-19M | $-1.0K | $4.0K | |
| Pretax Income | $-3M | $-868.0K | · | · | $-4M | $-253.0K | |
| Income Tax | · | $4.0K | · | · | · | · | |
| Net Income | $-3M | $-872.0K | $21M | $-20M | $-4M | $-253.0K | |
| EPS (Basic) | $-0.10 | $-0.03 | · | · | $-0.52 | $-0.03 | |
| EPS (Diluted) | $-0.10 | $-0.03 | · | · | $-0.52 | $-0.03 | |
| Shares (Basic) | 28,965,344 | 28,938,764 | · | · | 7,270,964 | 7,270,965 | |
| Shares (Diluted) | 28,965,344 | 28,938,764 | · | · | 7,270,964 | 7,270,965 | |
| EBITDA | $-3M | $-3M | · | $-1M | · | · |
Balance Sheet
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $368.0K | $2M | $4M | $9.3K | · | · | |
| Short-term Investments | · | · | · | $12M | · | · | |
| Receivables | $1M | $1M | $1M | · | · | · | |
| Prepaid Expense | $469.0K | $650.0K | $753.0K | $21.5K | · | · | |
| Other Current Assets | · | · | $62.0K | · | · | · | |
| Current Assets | $2M | $4M | $6M | $12M | · | · | |
| PP&E (Net) | $270.0K | $292.0K | $305.0K | · | · | · | |
| PP&E (Gross) | · | · | $834.0K | · | · | · | |
| Accum. Depreciation | · | · | $529.0K | · | · | · | |
| Intangibles | $226.0K | $210.0K | $206.0K | · | · | · | |
| Other Non-current Assets | $14.0K | $11.0K | $16.0K | · | · | · | |
| Total Assets | $3M | $5M | $8M | $12M | · | · | |
| Accounts Payable | $5M | $5M | $5M | $351.5K | · | · | |
| Accrued Liabilities | · | · | · | $2M | · | · | |
| Short-term Debt | $119.0K | $168.0K | $342.0K | $4M | · | · | |
| Current Liabilities | $19M | $18M | $20M | $44M | · | · | |
| Capital Leases | $667.0K | $689.0K | $751.0K | · | · | · | |
| Total Liabilities | $21M | $20M | $22M | $44M | · | · | |
| Long-term Debt | $300.0K | $300.0K | $300.0K | · | · | · | |
| Total Debt | $419.0K | $468.0K | · | $4M | · | · | |
| Common Stock | $3.0K | $3.0K | $3.0K | · | · | · | |
| Paid-in Capital | $32M | $32M | $31M | $1M | · | · | |
| Retained Earnings | $-39M | $-36M | $-35M | $-33M | · | · | |
| AOCI | $269.0K | $269.0K | $260.0K | · | · | · | |
| Stockholders' Equity | $-17M | $-15M | $-15M | · | · | · | |
| Liabilities + Equity | $3M | $5M | $8M | $12M | · | · | |
| Shares Outstanding | 28,985,302 | 28,939,240 | 28,938,266 | · | · | · |
Cash Flow
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
|---|---|---|---|---|---|---|---|
| D&A | $26.0K | $24.0K | · | · | $25.0K | $25.0K | |
| Stock-based Comp | $472.0K | $406.0K | · | · | $53.0K | $65.0K | |
| Amort. of Intangibles | $35.0K | $32.0K | · | · | $22.0K | $20.0K | |
| Operating Cash Flow | $-1M | $-2M | $-5M | $-91.8K | $80.0K | $-229.0K | |
| CapEx | $7.0K | $20.0K | · | · | $5.0K | $1.0K | |
| Investing Cash Flow | $-59.0K | $-56.0K | $-4M | $4M | $-36.0K | $-24.0K | |
| Financing Cash Flow | $-49.0K | $-174.0K | $13M | $-4M | $0 | $180.0K | |
| Net Change in Cash | $-1M | $-2M | $4M | $-44.9K | $42.0K | $-71.0K | |
| Taxes Paid | $9.0K | $10.0K | · | · | $5.0K | $10.0K | |
| Free Cash Flow | · | $-2M | · | · | · | · |
Profitability
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
|---|---|---|---|---|---|---|---|
| Gross Margin | 53.7% | 50.4% | · | · | · | · | |
| Operating Margin | -149.9% | -161.5% | · | · | · | · | |
| Net Margin | -158.8% | -46.4% | · | · | · | · | |
| Pretax Margin | -158.8% | -46.2% | · | · | · | · | |
| EBITDA Margin | -149.9% | -161.5% | · | · | · | · | |
| ROA | -179.6% | -35.3% | · | -321.2% | · | · | |
| ROE | 32.8% | 11.6% | · | · | · | · | |
| ROIC | · | 20.9% | · | · | · | · |
Liquidity & Solvency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
|---|---|---|---|---|---|---|---|
| Current Ratio | 0.1 | 0.2 | · | 0.3 | · | · | |
| Quick Ratio | 0.1 | 0.2 | · | 0.3 | · | · | |
| Debt / Equity | -0.0 | -0.0 | · | · | · | · |
Efficiency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
|---|---|---|---|---|---|---|---|
| Asset Turnover | 1.1 | 0.8 | · | · | · | · | |
| Receivables Turnover | 3.2 | 3.0 | · | · | · | · |
Per Share
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
|---|---|---|---|---|---|---|---|
| Book Value / Share | $-0.60 | $-0.52 | · | · | · | · | |
| Revenue / Share | $0.06 | $0.06 | · | · | · | · | |
| Cash Flow / Share | · | $-0.08 | · | · | · | · | |
| Cash / Share | $0.01 | $0.06 | · | · | · | · |
Valuation (TTM)
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
|---|---|---|---|---|---|---|---|
| Net Income TTM | $-2M | $-3M | · | $-40M | $-20M | $-16M | |
| Market Cap | $2M | $2M | · | · | · | · | |
| Enterprise Value | $2M | $864.4K | · | · | · | · | |
| P/B | -0.1 | -0.1 | · | · | · | · | |
| P / Cash Flow | · | -1.0 | · | · | · | · |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Revenue | $8M | $9M |
| Gross Margin % | 55.8% | · |
| Operating Margin % | -77.2% | · |
| Net Income | $-928.0K | $-15M |
| Diluted EPS | $-0.08 | $-2.21 |
| Metric | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Debt / Equity | -0.0 | · |
| Current Ratio | 0.3 | · |
| Quick Ratio | 0.3 | · |
| Metric | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Free Cash Flow | $-6M | · |
Institutional owners (13F) 28 filers · $487K total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Holders
28
Value held
$487K
New positions
0
Exited positions
0
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 0 (-2 vs prior Q) | 0 (-2 vs prior Q) | 3 (0 vs prior Q) | 6 (-2 vs prior Q) | -856K |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| BOOTHBAY FUND MANAGEMENT, LLC | $196,860 | 187,486 | 40.45% | Shares |
| LMR Partners LLP | $53,653 | 894,211 | 11.02% | Shares |
| Polar Asset Management Partners Inc. | $43,572 | 635,166 | 8.95% | Shares |
| Saba Capital Management, L.P. | $31,500 | 524,998 | 6.47% | Shares |
| Meteora Capital, LLC | $28,085 | 468,089 | 5.77% | Shares |
| ARISTEIA CAPITAL, L.L.C. | $24,421 | 355,984 | 5.02% | Shares |
| Calamos Advisors LLC | $20,250 | 375,000 | 4.16% | Shares |
| Clear Street Group Inc. | $16,306 | 271,770 | 3.35% | Shares |
| Alberta Investment Management Corp | $14,250 | 237,500 | 2.93% | Shares |
| Caption Management, LLC | $11,396 | 189,939 | 2.34% | Shares |
| MMCAP International Inc. SPC | $10,500 | 175,000 | 2.16% | Shares |
| TORONTO DOMINION BANK | $9,000 | 150,000 | 1.85% | Shares |
| D. E. Shaw & Co., Inc. | $5,400 | 99,999 | 1.11% | Shares |
| Periscope Capital Inc. | $4,374 | 72,900 | 0.90% | Shares |
| Yakira Capital Management, Inc. | $3,496 | 58,269 | 0.72% | Shares |
| PICTON MAHONEY ASSET MANAGEMENT | $2,700 | 50,000 | 0.55% | Shares |
| Hudson Bay Capital Management LP | $2,700 | 50,000 | 0.55% | Shares |
| AQR Arbitrage LLC | $2,422 | 44,843 | 0.50% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $2,052 | 38,008 | 0.42% | Shares |
| MILLENNIUM MANAGEMENT LLC | $1,485 | 24,750 | 0.31% | Call option |
| WHITEBOX ADVISORS LLC | $1,269 | 21,150 | 0.26% | Shares |
| OMERS ADMINISTRATION Corp | $810 | 15,000 | 0.17% | Shares |
| WOLVERINE ASSET MANAGEMENT LLC | $205 | 3,409 | 0.04% | Shares |
| Q Global Advisors, LLC | $11 | 179,614 | 0.00% | Shares |
| Virtu Financial LLC | $2 | 41,772 | 0.00% | Shares |
| Vestcor Inc | $1 | 27,500 | 0.00% | Shares |
| FLOW TRADERS U.S. LLC | $1 | 13,387 | 0.00% | Shares |
| UBS Group AG | $0 | 4 | 0.00% | Shares |
Company insiders 1 insider · 0 officers · 1 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Timothy Edward Gocher | Director | Jan. 6, 2025 A | 50,000 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
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Source: SEC 10-Q filed Aug 7, 2026