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FY2025
12 months to Dec 31, 2025
|
|
|---|---|
| Cash flows from operating activities | |
| Net Loss | |
| Adjustments to reconcile net loss to net cash used in operating activities: | |
| Depreciation of property and equipment | |
| Amortization of intangible asset | |
| Provision for credit losses | |
| Stock-based compensation | |
| Amortization of right-of-use assets | |
| Changes in fair value of convertible notes at fair value, warranty liability and forward purchase agreement liability | |
| Change in fair value of forward purchase derivative liability | |
| Accretion of cumulative mandatorily redeemable common and preferred stock liability | |
| Loss on extinguishment of convertible notes payable | |
| Unrealized foreign exchange gain/(loss) | |
| Deferred income taxes | |
| Changes in operating assets and liabilities: | |
| Accounts receivable, current, net | |
| Unbilled revenue | |
| Prepaid expenses and other current assets | |
| Accounts receivable, net | |
| Other assets | |
| Accounts payable | |
| Operating lease liabilities | |
| Accrued expenses and other current liabilities | |
| Deferred revenue | |
| Net cash used in operating activities | |
| Cash flows from investing activities | |
| Costs capitalized for internally developed software | |
| Purchases of property and equipment | |
| Net cash used in investing activities | |
| Cash flows from financing activities | |
| Proceeds from convertible notes payable | |
| (Repayment)/ Proceeds from related party loan payable | |
| Payment of deferred transaction costs | |
| Proceeds from issuance of shares pursuant to PIPE transaction | |
| Proceeds from director and officer insurance funding (short term debt) | |
| Payment of director and officer insurance funding (short term debt) | |
| Net cash provided by financing activities | |
| Effect of exchange rate changes on cash and cash equivalents | |
| Net change in cash and cash equivalents | |
| Cash and cash equivalents at beginning of the period | |
| Cash and cash equivalents at end of the period | |
| Cash paid for income taxes | |
| Non-cash investing and financing activities: | |
| Common Stock issued upon cashless exercise of stock options | |
| Unpaid deferred transaction costs as of the end of the period | |
| Waiver of deferred transaction costs as of the end of the period | |
| Issuance of shares vested upon repayment and forgiveness of 2023 Promissory Notes | |
| Issuance of shares as a result of conversion of related party convertible notes at fair value | |
| Issuance of shares as a result of conversion of convertible notes at fair value | |
| Issuance of shares as a result of conversion of convertible notes | |
| Conversion of convertible preferred stock into common stock in connection with the reverse recapitalization | |
| Treasury stock repurchase cancellation upon reverse recapitalization | |
| Shares issued to a vendor of Legacy Fusemachines to settle outstanding invoices. | |
| (Loss)/Gain on extinguishment of debt (Refer Note no. 10 - Long Term Debt) | |
| Settlement of vendor payable by SPAC sponsor accounted as a capital contribution | |
| Issuance of warrants related to forward purchase agreement and convertible note agreement(refer note 10 &22) | |
| Transfer of Fusemachines Inc. common stock to third party purchaser |
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