Fusemachines

FUSE

Software - Application · Technology

Price

$0.77

-0.01 (-1.14%)

Market Cap

$22.3M

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Weak

Growth

Weak

Cash Flow

Weak

Stability

Data not available

Valuation

Weak

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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)

Winston Score History

The full picture

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.

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

YoY Growth Rate

Revenue data limited

EPS Growth

+81.1% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$720,000/ year

9.3% of revenue

Below sector average (15%)

Research and development spending

Insider Activity

46.7%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

~2 years

$11M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

$11M cash & investments at current burn rate

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.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

53.7%

Healthy — 53.7% gross margin

Profit after running costs

Operating Margin

-149.9%

Losing money on operations — -149.9%

Return on the money invested

ROCE

N/A

Data not available

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Growth

Sales growth

Sales YoY

-91.8%

Shrinking sales (-91.8% YoY)

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

3/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

-78.7%

Burning cash (-78.7%)

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

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Stability

What it owes vs what it owns

Debt / Equity

N/A

Data not available

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

41.5x

Pricey — P/E 41.5

P/E over 35. The market is pricing in heavy, sustained growth.

Cheaper or dearer next year

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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