The company's financial position is highly precarious, evidenced by a current ratio of 0.21 and a negative equity balance of -$4.0 million as of 2026Q1.
| Total Current Assets | 3.74M | 6.25M | 256.58M | 1.79M | 1.97M |
| Cash & Short-Term Investments | 1.77M | 4.22M | 139.98M | 52.12M | 194.99M |
| Cash Only | 1.77M | 4.22M | 500K | 266K | 224.47K |
| Short-Term Investments | 0 | 0 | 16.05M | 51.98M | 194.77M |
| Accounts Receivable | 1.31M | 1.4M | 1.65M | 1.27M | 1.04M |
| Days Sales Outstanding | 26.4 | 66.1 | 1.1 | 62.57 | 55.09 |
| Inventory | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - |
| Other Current Assets | 650K | 62K | 114.85M | -51.67M | -194.09M |
| Total Non-Current Assets | 12.21M | 1.28M | 162.19M | 1.56M | 1.39M |
| Property, Plant & Equipment | 975K | 1.05M | 1.66M | 1.42M | 1.36M |
| Fixed Asset Turnover | 18.96x | 7.35x | 329.26x | 5.23x | 5.07x |
| Goodwill | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 210K | 206K | 160.53M | 113K | 29K |
| Long-Term Investments | 33.02M | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 11K | 16K | 0 | 24K | 4K |
| Total Assets | 15.95M | 7.54M | 518.59M | 3.35M | 3.36M |
| Asset Turnover | 0.51x | 1.02x | 1.05x | 2.22x | 2.05x |
| Asset Growth % | 71.1% | -98.55% | 15384.86% | -0.21% | - |
| Total Current Liabilities | 18.13M | 20.05M | 20.3M | 3.43M | 1.96M |
| Accounts Payable | 4.8M | 5.01M | 6.54M | 1.17M | 563K |
| Days Payables Outstanding | 206.33 | 536.95 | 17.46 | 133.04 | 97.02 |
| Short-Term Debt | 252K | 642K | 9.94M | 191K | 395K |
| Deferred Revenue (Current) | 0 | 0 | 54K | 21K | 192K |
| Other Current Liabilities | 9.28M | 9.69M | 579K | 222K | 0 |
| Current Ratio | 0.21x | 0.31x | 12.64x | 0.52x | 1.00x |
| Quick Ratio | 0.21x | 0.31x | 12.64x | 0.52x | 1.00x |
| Cash Conversion Cycle | -179.94 | - | - | - | - |
| Total Non-Current Liabilities | 829K | 2.06M | 9.55M | 8.38M | 5.28M |
| Long-Term Debt | 0 | 0 | 6.72M | 6.03M | 3.33M |
| Capital Lease Obligations | 1.44M | 751K | 878K | 979K | 1.05M |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 140K | 1.31M | 1.95M | 1.38M | 894K |
| Total Liabilities | 18.96M | 22.11M | 29.85M | 11.82M | 7.23M |
| Total Debt | 941K | 1.48M | 17.62M | 7.28M | 4.8M |
| Net Debt | -833K | -2.74M | 17.12M | 7.02M | 3.9M |
| Debt / Equity | -0.23x | - | - | - | - |
| Debt / EBITDA | -0.11x | - | - | - | - |
| Net Debt / EBITDA | 0.10x | - | - | - | - |
| Interest Coverage | -0.49x | -2.45x | -64.60x | -13.97x | -3.61x |
| Total Equity | -4.03M | -14.58M | -24.3M | -8.47M | -3.88M |
| Equity Growth % | 81.78% | 40.03% | -187.06% | -118.33% | - |
| Book Value per Share | -0.14 | -1.26 | -0.92 | -0.32 | -0.15 |
| Total Shareholders' Equity | -4.03M | -14.58M | -24.3M | -8.47M | -3.88M |
| Common Stock | 3K | 3K | 2K | 2K | 2K |
| Retained Earnings | -36.1M | -35.15M | -34.22M | -18.83M | -12.07M |
| Treasury Stock | 0 | 0 | -2.9M | 0 | 0 |
| Accumulated OCI | 269K | 260K | 250K | 193K | 199K |
| Minority Interest | 0 | 0 | 0 | 0 | 0 |
Terminal Liquidity Depletion Risk
As reported in recent SEC filings, FUSE's total assets have plummeted from a peak of $545.7 million in 2024Q2 to just $15.9 million by 2026Q1, reflecting a severe and ongoing contraction that signals a fundamental loss of corporate scale and operational viability.
The rapid decline in asset value suggests that the company is either divesting core components or suffering from massive impairment of its underlying business value. This trajectory indicates that the balance sheet is no longer supporting a growth-oriented entity but is instead reflecting a firm in a state of terminal downsizing.
Based on the latest quarterly data, FUSE's current ratio has deteriorated to a precarious 0.21, leaving the company with only $1.8 million in cash against significant liabilities, which suggests an extremely limited runway to sustain operations without immediate external capital intervention.
A current ratio well below 1.0 indicates that the company lacks the liquid assets necessary to cover its short-term obligations, creating a high risk of technical default. Investors should monitor the cash burn rate closely, as the current liquidity position appears insufficient to support the existing cost structure for more than a few quarters.
According to financial statements, FUSE has maintained a negative equity position for most of the last ten quarters, with the most recent figure at -$4.0 million, highlighting the persistent erosion of shareholder value driven by cumulative losses and ineffective capital allocation strategies.
The persistent negative equity suggests that the company has exhausted its capital base, leaving shareholders with no residual value in the event of a liquidation. This structural deficit underscores the severity of the company's financial distress and the lack of a clear path toward restoring a positive book value.
As evidenced by the balance sheet, the company's reliance on $210,000 in goodwill and $975,000 in net PPE relative to its total asset base of $15.9 million suggests that the firm's value is not anchored in tangible, productive assets but rather in potentially volatile intangible items.
The presence of goodwill on a balance sheet that has seen such massive revenue contraction warrants further investigation into potential impairment risks. If these intangible assets are written down, the company's already negative equity position would deteriorate further, potentially triggering additional covenant breaches or financing constraints.
Quick answers to the most common questions about buying FUSE stock.
As of 2025, Fusemachines Inc. (FUSE) had total assets of $7.5M including $6.3M in current assets.
Fusemachines Inc. (FUSE) carries total debt of $1.5M, offset by $4.2M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Fusemachines Inc. (FUSE) has total shareholders' equity (book value) of $-14.6M ($-1.26 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Fusemachines Inc. (FUSE) reported a current ratio of 0.31x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.