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Sunday 8 November 2026
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Fusemachines Inc.
FUSE Technology Software Application
Fusemachines Inc.’s revenue for fiscal 2025 (year ended December 2025) was $7.7 million, down 12.5% from fiscal 2024.
- Revenue
- +2.96%
- EPS
- +1.24%
- Free cash flow
- −280.2%
- Total debt
- −95.1%
Quarter to September 2026, against a year earlier
0.33
0.05
+17.86%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Sep ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | — | — | — | — | — | — | — | — | 9 | 8 | 7 | (12.5%) | — | — | — | — | |
| Gross margin, % | — | — | — | — | — | — | — | — | 54.87 | 55.83 | 52.43 | +1.0 pt | ||||||
| EBT | — | — | — | — | — | 0 | 2 | — | (15) | (1) | (4) | +108.2% | ||||||
| EBT margin, % | — | — | — | — | — | 0.00 | 0.00 | — | (174.23) | (11.99) | (54.37) | (12.0) pt | ||||||
| Net income | — | 0 | — | — | — | 0 | 2 | — | (15) | (1) | (4) | n/m | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | — | — | — | — | — | 0.00 | 0.00 | — | 1.27 | 0.67 | 0.24 | n/m | |||||
| Earnings | — | — | — | — | — | 0.00 | 0.09 | — | (2.06) | (0.08) | 0.35 | n/m | ||||||
| Cash flow | — | — | — | — | — | 0.00 | (0.05) | — | (0.32) | (0.48) | (0.32) | n/m | ||||||
| Capex | — | — | — | — | — | 0.00 | 0.00 | — | (0.02) | (0.01) | (0.01) | n/m | ||||||
| Free cash flow | — | — | — | — | — | 0.00 | (0.05) | — | (0.34) | (0.49) | (0.33) | n/m | ||||||
| Book value | — | — | — | — | — | 0.00 | 7.94 | — | (3.49) | (1.26) | (0.27) | +496.3% | ||||||
| Shares, m | — | — | — | — | — | 24 | 24 | — | 7 | 12 | 25 | (16.5%) | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | — | — | — | — | — | — | — | 41.07 | 0.00 | 0.86 | 20.5 | |||||
| P/S | — | — | — | — | — | — | — | — | 0.00 | 2.47 | 1.23 | 1.2 | ||||||
| P/B | — | — | — | — | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.0 | ||||||
| EV/Sales | — | — | — | — | — | — | — | — | 0.00 | 2.02 | 1.10 | 1.0 | ||||||
| EV/FCF | — | — | — | — | — | — | — | — | (763.71) | (2.74) | (0.81) | (383.2) | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | — | — | — | — | — | 0 | (1) | — | (2) | (6) | (10) | n/m | |||||
| Capex | — | — | — | — | — | — | — | — | 0 | 0 | 0 | +5.8% | ||||||
| Free cash flow | — | — | — | — | — | 0 | (1) | — | (2) | (6) | (10) | n/m | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | — | — | — | — | — | (1) | 188 | — | (16) | (14) | (9) | +99.7% | |||||
| Net debt | — | — | — | — | — | 0 | (195) | — | 7 | (3) | (1) | n/m | ||||||
| Shareholders’ equity | — | — | — | — | — | 0 | 188 | — | (24) | (15) | (8) | +395.4% | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | — | — | — | — | — | 0.00 | 2.10 | — | (15.30) | (14.19) | (78.49) | (14.2) pt | |||||
| ROIC | — | — | — | — | — | 0.00 | 0.00 | — | 0.00 | 0.00 | 0.00 | 0.0 pt | ||||||
| ROE | — | — | — | — | — | 0.00 | 2.19 | — | (19.71) | 3.97 | 20.52 | +4.0 pt | ||||||
| People | ||||||||||||||||||
| People | Employees | — | — | — | — | — | — | — | — | — | 270 | — | — | |||||
| Revenue/emp, $m | — | — | — | — | — | — | — | — | 0.00 | 0.03 | — | n/m | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026
Fusemachines Inc. vs peers in Software Application (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| UPLD Upland Software, Inc. | $11.6M | — (loss-making) | — (loss-making) | −5.94% (below 0%: shrinking) | n/m | −60.31% (below 0%: shrinking) | 75.76% | 11.22% | Compare |
| YAAS Youxin Technology Ltd | $11.5M | — | — | — | — | −95.02% (below 0%: shrinking) | — | — | Compare |
| VIDA VIDA Global Inc. | $11.0M | — (loss-making) | — | — | n/m | — | 48.63% | (453.47%) | Compare |
| FUSE Fusemachines Inc. | $9.1M | 0.9× | — | +2.96% (above 0%: growing) | n/m | −280.22% (below 0%: shrinking) | 53.17% | (125.42%) | |
| YXT YXT.COM Group Holding Limited - Unsponsored ADR | $8.5M | — | — | — | — | — | 62.58% | (51.25%) | Compare |
| QH Quhuo Limited Sponsored ADR | $7.4M | — (loss-making) | 9.1× | +63.08% (above 0%: growing) | n/m | +67.69% (above 0%: growing) | 3.85% | 0.00% | Compare |
| XELA Exela Technologies, Inc. | $7.4M | — (loss-making) | — (loss-making) | +6.34% (above 0%: growing) | n/m | −85.03% (below 0%: shrinking) | 20.16% | 1.19% | Compare |
| RTCJF Baijiayun Group Ltd. | $7.3M | — (loss-making) | 12.8× | +162.50% (above 0%: growing) | n/m | −107.43% (below 0%: shrinking) | 17.68% | 0.00% | Compare |
| BIYA Baiya International Group Inc. | $6.9M | — | — | — | — | −3,434.08% (below 0%: shrinking) | — | — | Compare |
| Median of peers | $8.0M | — | — | +34.71% | — | −90.02% | 34.40% | 0.00% |