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Fusemachines (FUSE) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 3, 2026 · Fusemachines (FUSE) Q3 2026 earnings results →
Q3 2026 Revenue up 3% year over year to $1.8M · 251¢ of every $1 of revenue lost · operating margin -125.4%
Fusemachines made $1.8M in Q3 2026 (+3% Y/Y): AI Solutions $1.8M, AI Education Services $20K. Operating margin -125.4%, net loss $4.6M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 3, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $1.8M in Q3 2026, up 3% year over year and up 3% from the previous quarter. AI Solutions was the largest line at 99% of revenue. AI Solutions added $35K year over year (up 2%), 66% of the total change.
Gross margin was 53.2%, down 2.4 points from a year earlier. Operating costs exceeded revenue by $2.3M, an operating margin of -125.4%. Operating expenses grew 58% against revenue growth of 3%. The fastest-growing cost line was Research & development (+73%). The quarter ended with a net loss of $4.6M, wider than the previous quarter's $2.8M loss.
Operating cash flow was −$1.3M. Non-cash charges added back $24K of depreciation and amortization and $431K of share-based compensation. Working capital and other items added $2.9M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 3, 2026 | $1.8M | +3% | -125.4% | −$4.6M | −$1.3M |
| Q2 2026 | 10-Q | Aug 7, 2026 | $1.8M | -12% | -149.9% | −$2.8M | −$1.3M |
| Q1 2026 | 10-Q | May 15, 2026 | $1.9M | -4% | -161.5% | −$872K | −$2.2M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Fusemachines
Fusemachines is a leading provider of enterprise AI solutions, offering AI products including AI Studio, AI Engines, and AI Agents, along with supporting services to organizations across a wide range of industries. With more than a decade of experience, we help enterprises integrate AI into their operations to improve efficiency, reduce costs, and drive innovation. Our products and services are uniquely supported by a global talent pool largely sourced from underserved communities, enabling us to deliver high quality AI solutions at scale while advancing our mission of democratizing access to AI.
In its own words, from its 10-K, filed Mar 27, 2026.
Fusemachines against its Services-Computer Integrated Systems Design peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +3% against the peers' median +3%. Operating margin: -125.4% against the peers' median 10.0%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| FUSE Fusemachines | Q3 2026 | $1.8M | +3% | -125.4% |
| LDOS Leidos Holdings | Q3 2026 | $4.6B | +4% | 11.9% |
| KD Kyndryl Holdings | Q2 FY27 | $3.7B | -2% | 3.1% |
| CACI CACI International | Q3 2026 | $2.5B | +8% | 10.0% |
| SAIC Science Applications International | Q2 FY27 | $1.9B | +6% | 8.1% |
| PSN Parsons | Q3 2026 | $1.7B | +2% | 6.3% |
| GDDY GoDaddy | Q3 2026 | $1.3B | +6% | 27.0% |
| OTEX Open Text | Q1 FY27 | $1.2B | -4% | 20.3% |
| LAWIL Light & Wonder | Q3 2026 | $824M | -2% | 29.4% |
Source: Fusemachines 10-Q on SEC EDGAR · CIK 2033383 · Services-Computer Integrated Systems Design
Guidance and outlook
13F: who owns FUSE and who is buying
More on FUSE
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results