v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Cash flows from operating activities    
Net Loss $ (928) $ (15,383)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation of property and equipment 96 109
Amortization of intangible asset 93 70
Provision for credit losses 55 540
Stock-based compensation 231 1,067
Amortization of right-of-use assets 88 110
Changes in fair value of convertible notes at fair value, warranty liability and forward purchase agreement liability (6,544) 6,104
Change in fair value of forward purchase derivative liability 1,076  
Accretion of cumulative mandatorily redeemable common and preferred stock liability 99 80
Equity method investment obtained in exchange for services (122)
Impairment of Equity investments 120
Equity in earnings of investee 2
Loss on extinguishment of convertible notes payable 391 601
Loss on extinguishment of payable 70
Unrealized foreign exchange gain/(loss) 27 49
Deferred income taxes (2) (11)
Changes in operating assets and liabilities:    
Accounts receivable, current, net 47 (904)
Unbilled revenue 82 (39)
Prepaid expenses and other current assets (74) (85)
Accounts receivable, net 4 18
Other assets 22 (2)
Accounts payable (200) 3,715
Operating lease liabilities (73) (87)
Accrued expenses and other current liabilities 34 1,744
Deferred revenue (54) 33
Net cash used in operating activities (5,529) (2,201)
Cash flows from investing activities    
Costs capitalized for internally developed software (112) (144)
Purchases of property and equipment (53) (15)
Payment made to Capital Creditors (20)
Disposal of property and equipment 3
Net cash used in investing activities (165) (176)
Cash flows from financing activities    
Proceeds from convertible notes payable 180 455
(Repayment)/ Proceeds from related party loan payable (700) 700
Proceeds from convertible note payable, at fair value 6,500
Payments on notes payable, net of penalty and lender fees (3,000)
Payment of deferred transaction costs (836) (2)
Common stock repurchase (2,000)
Proceeds from reverse recapitalization 9,432  
Proceeds from issuance of shares pursuant to PIPE transaction 1,000  
Debt Extinguishment cost paid (53)
Exercise of stock options 12
Proceeds from director and officer insurance funding (short term debt) 382  
Payment of director and officer insurance funding (short term debt) (40)  
Net cash provided by financing activities 9,418 2,612
Effect of exchange rate changes on cash and cash equivalents (3) (1)
Net change in cash and cash equivalents 3,721 234
Cash and cash equivalents at beginning of the period 500 266
Cash and cash equivalents at end of the period 4,221 500
Supplemental disclosures of cash flow information    
Cash paid for interest 26
Cash paid for income taxes 31 10
Non-cash investing and financing activities:    
Purchase of property and equipment through capital advances 38
Common Stock issued upon cashless exercise of stock options 707
Unpaid deferred transaction costs as of the end of the period 242 1,684
Waiver of deferred transaction costs as of the end of the period 1,177
Issuance of shares vested upon repayment and forgiveness of 2023 Promissory Notes 3 899
Issuance of subscription receivable (11,005)  
Settlement of non-recourse 2023 promissory note in exchange for common stock repurchase consideration 903
Issuance of shares as a result of conversion of related party convertible notes at fair value 4,168  
Issuance of shares as a result of conversion of convertible notes at fair value 5,321  
Issuance of shares as a result of conversion of convertible notes 668  
Conversion of convertible preferred stock into common stock in connection with the reverse recapitalization 7,864  
Treasury stock repurchase cancellation upon reverse recapitalization (2,903)  
Shares issued to a vendor of Legacy Fusemachines to settle outstanding invoices. 198  
(Loss)/Gain on extinguishment of debt (Refer Note no. 10 - Long Term Debt) (391)  
Extinguishment of debt (Refer Note no. 10 - Long Term Debt and Note no.17 - Commitments and Contingencies)   4,091
Settlement of vendor payable by SPAC sponsor accounted as a capital contribution 137  
Issuance of warrants related to forward purchase agreement and convertible note agreement(refer note 10 &22) 1,013  
Recognition of debt at fair value (Refer Note no. 10 - Long Term Debt and Note no.17 - Commitments and Contingencies) 3,818
Investment in Equity securities   $ 122
Transfer of Fusemachines Inc. common stock to third party purchaser $ 151