Fusemachines

FUSE

Software - Application · Technology

Price

$0.92

-0.06 (-5.72%)

Market Cap

$26.6M

Winston Score

–

No score yet — Winston is napping.

We couldn’t gather enough financial data to score this stock reliably.

Share count falling — buybacks

−51.4% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 23.7M (2021) → 11.5M (2025)

Fusemachines is a technology company that builds artificial intelligence tools and services for other businesses. It helps companies add AI features to their products and operations, serving clients in industries like healthcare, finance, and education. The company also runs AI training programs to help workers and students learn how to use AI technology.

Fusemachines makes money by charging businesses for AI consulting, software development, and educational courses. It operates primarily in the United States and South Asia, including Nepal, where much of its engineering work is based. The company is small, with a market cap near zero, and its deeply negative operating margin shows it is spending far more than it earns right now. The key risk is that the AI services market is crowded with much larger competitors, and Fusemachines will need to grow revenue significantly to reach profitability.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+255.5% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

>+1,000% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$720,000/ year

→ Flat (-2% vs prior year)

9.3% of revenue

Below sector average (15%)

Steady R&D investment year-over-year

Insider Activity

46.6%ownership

↓ Declining

Insider ownership declining — could be dilution or selling

Cash Runway

~2 months

$4M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Revenue accelerating

Fusemachines grew revenue 255% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

55.8%

Premium pricing power — 55.8% gross margin

Operating Margin

-40.6%

Losing money on operations — -40.6%

ROCE

N/A

Data not available

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Growth

Sales YoY

-96.4%

Shrinking sales (-96.4% YoY)

EPS YoY

N/A

Data not available

EPS Consistency

2/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

N/A

Data not available

FCF Margin

-61.1%

Burning cash (-61.1%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity

N/A

Data not available

Interest Cover

N/A

Data not available

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Valuation

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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