Fusemachines Inc (FUSE) is an enterprise AI software and services company that sells AI products and related professional services to commercial organizations across industries including finance, healthcare, media, technology, and government. Revenue comes from software platform licenses and service contracts, typically structured as agreements of up to one year in length with 60 to 90 day termination notice periods. The company generated $7.71 million in revenue for the year ended December 31, 2025, down from $8.81 million for the year ended December 31, 2024, and reported a net loss of $0.93 million and an accumulated deficit of $35.15 million as of December 31, 2025. Customer concentration is material: two customers represented approximately 30% of total revenue in FY2025. The company sells through a direct sales force and channel partners. Core products are AI Studio, AI Engines, and AI Agents. Fusemachines was founded more than a decade before the 2026 filing date and is headquartered in the United States.

Revenue model

Contracts of up to one year with commercial enterprise customers for AI software platforms and services. No disclosed subscription or recurring revenue breakdown. Two customers represented approximately 30% of total revenue in FY2025.

Products and services

AI Studio (base platform), AI Engines (industry-specific AI software built on AI Studio using LLMs, computer vision, machine learning, and deep learning for use cases such as document extraction, retrieval-augmented generation, and fraud detection), AI Agents (intelligent automation systems), and AI training programs including an AI Fellowship Program.

Customers and end markets

Commercial enterprise organizations across consumer brands, healthcare, media, technology, government, and other industries. Sales target business unit decision-makers rather than purchasing or HR departments. Two customers accounted for roughly 30% of FY2025 revenue, indicating material concentration.

Value-chain role

Software platform provider and AI services delivery organization sitting between enterprise customers and AI infrastructure. Supports customers through pre-sales engineering, deployment, post-deployment services, and technical training for channel partners.

Geographic exposure

The filing references a global talent pool and channel partners in expansionary geographies, but no specific country or regional revenue breakdown is disclosed.

Source: SEC 10-K, filed 2026-03-27

Industry: Services-Computer Integrated Systems Design