Fusemachines Inc.
For the period ended Jun 30, 2026. Filed Aug 7, 2026.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2026 · Filed Aug 7, 2026
FUSE$0.33+18.8%Stored close · as of Nov 6, 2026
Contents
Item 1. Condensed Consolidated Balance Sheets as of June 30, 2026 (unaudited) and December 31, 2025
Condensed Consolidated Interim Balance Sheets
| June 30, 2026 | December 31, 2025 | |
|---|---|---|
| (Unaudited) | ||
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | 368 | 4,221 |
| Accounts receivable, net | 1,134 | 1,264 |
| Unbilled revenue | 16 | 16 |
| Prepaid expenses and other current assets | 469 | 753 |
| Total current assets | 1,987 | 6,254 |
| Property and equipment, net | 270 | 305 |
| Intangible assets, net | 226 | 206 |
| Deferred tax assets | 11 | 11 |
| Operating lease right-of-use assets | 664 | 744 |
| Other assets | 14 | 16 |
| Total assets | 3,172 | 7,536 |
| Liabilities and stockholders’ deficit | ||
| Current liabilities: | ||
| Accounts payable | 5,173 | 5,012 |
| Accrued expenses and other current liabilities | 4,972 | 4,618 |
| Related party loan payable | 300 | 300 |
| Operating lease liability, current | 89 | 85 |
| Forward purchase derivative liability | 8,084 | 9,692 |
| Short term debt | 119 | 342 |
| Total current liabilities | 18,737 | 20,049 |
| Accounts payable non-current | - | 143 |
| Warrant liability | 72 | 121 |
| Cumulative mandatorily redeemable common and preferred stock liability | 1,050 | 1,048 |
| Operating lease liability | 667 | 751 |
| Total liabilities | 20,526 | 22,112 |
| Commitments and Contingencies | - | |
| Stockholder’s deficit: | ||
| Convertible preferred stock ($0.0001 par value, 5,000,000 shares authorized as of June 30, 2026 and December 31, 2025, respectively; Nil shares issued as of June 30, 2026 and December 31, 2025, respectively ; Nil shares outstanding as of June 30, 2026 and December 31, 2025) | - | - |
| Common stock ($0.0001 par value, 500,000,000 shares authorized as of June 30,2026 and December 31, 2025; 28,985,302 shares and 28,938,266 shares issued and outstanding as of June 30,2026 and December 31, 2025 respectively) | 3 | 3 |
| Additional paid in capital | 32,329 | 31,311 |
| Share subscription receivable | (11,005) | (11,005) |
| Accumulated deficit | (38,950) | (35,145) |
| Accumulated other comprehensive income | 269 | 260 |
| Total stockholders’ deficit | (17,354) | (14,576) |
| Total liabilities and stockholders’ deficit | 3,172 | 7,536 |
Unaudited Condensed Consolidated Interim Statements of Operations and Comprehensive Loss
| Three Month ended, June 30 | Six Month ended, June 30 | |||
|---|---|---|---|---|
| 2026 | 2025 | 2026 | 2025 | |
| (Unaudited) · (Unaudited) | ||||
| Revenue | 1,794 | 2,034 | 3,673 | 3,987 |
| Cost of revenue | (831) | (828) | (1,762) | (1,692) |
| Gross Profit | 963 | 1,206 | 1,911 | 2,295 |
| Operating expenses: | ||||
| Selling and marketing | 383 | 333 | 795 | 641 |
| General and administrative | 2,978 | 1,566 | 6,251 | 3,499 |
| Research and development | 292 | 159 | 590 | 324 |
| Total operating expenses | 3,653 | 2,058 | 7,636 | 4,464 |
| Loss from operations | (2,690) | (852) | (5,725) | (2,169) |
| Other (expense) income: | ||||
| Interest expense | (52) | (73) | (106) | (139) |
| Loss on extinguishment of convertible notes payable | - | - | - | (391) |
| Gain on extinguishment of payable | 8 | - | 507 | - |
| Gain/(loss) on change in fair value of convertible notes and warrant liability | (10) | (2,860) | 49 | (1,344) |
| Gain/(loss) on change in fair value of forward purchase derivative liability | 20 | - | 1,608 | - |
| Other (expense) income | (125) | (1) | (50) | 4 |
| Total other (expense)/income, net | (159) | (2,934) | 2,008 | (1,870) |
| Loss before income taxes | (2,849) | (3,786) | (3,717) | (4,039) |
| Provision for income tax | - | - | (4) | - |
| Net loss | (2,849) | (3,786) | (3,721) | (4,039) |
| Deemed dividend related to Shortfall Warrants modification | - | - | (84) | - |
| Net loss attributable to common stockholders (i) | (2,849) | (3,786) | (3,805) | (4,039) |
| Weighted-average common shares outstanding - basic and diluted (ii) | 28,965,344 | 7,270,964 | 28,952,133 | 7,270,964 |
| Net loss per common share - basic and diluted (i/ii) | (0.10) | (0.52) | (0.13) | (0.56) |
| Comprehensive income (loss) | ||||
| Net loss | (2,849) | (3,786) | (3,721) | (4,039) |
| Change in foreign currency translation adjustment | - | 9 | - | |
| Total comprehensive loss | (2,849) | (3,786) | (3,712) | (4,039) |
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