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Fusemachines cash flow, quarter by quarter
Latest: Q3 2026 · from the cash-flow statements filed with the SEC
Free cash flow−$1.3M in Q3 2026 · −$9.9M over twelve months
Analysis
In Q3 2026, Fusemachines generated −$1.3M of operating cash flow. That is $955K less than in Q3 2025 (−$341K).
Over the twelve months to Sep 30, 2026, operating cash flow was −$9.8M; the largest uses were operating cash flow ($9.8M), other investing ($197K), capital spending ($72K); besides operations, cash came from other financing ($9.4M), net borrowing (+) / repaid (−) ($2.0M); the cash balance rose by $1.3M.
Operating cash flow was −$1.3M against net income of −$4.6M. The largest differences: accrued liabilities +$1.5M, payables −$706K, stock-based pay +$431K.
Its cash conversion cycle was -453 days (receivables 63 + inventory 0 − payables 516): suppliers fund its working capital.
Free cash flow
Cash runway and the debt wall
Fusemachines is burning cash: its operations consume cash, a free cash flow of −$9.9M a year at the current rate against $13.7M of cash and investments: a runway of about 17 months; $1.6M of debt also comes due within a year, which the cash covers before any new financing.
Where the cash came from and went
From profit to cash
| Quarter | Receivable days | Inventory days | Payable days | Cash conversion cycle |
|---|---|---|---|---|
| Q3 2026 | 63 | — | 516 | -453 |
| Q2 2026 | 60 | — | 546 | -486 |
| Q1 2026 | 60 | — | 474 | -414 |
Every quarter
| Quarter | Operating cash flow | Capital spending | Buybacks | Net borrowing (+) / repaid (−) | Cash drawn (+) / kept (−) | Free cash flow |
|---|---|---|---|---|---|---|
| Q3 2026 | −$1.3M | — | — | — | −$1.1M | −$1.3M |
| Q2 2026 | −$1.3M | −$7K | — | — | $1.4M | −$1.3M |
| Q1 2026 | −$2.2M | −$20K | — | −$174K | $2.4M | −$2.2M |
| Q4 2025 | −$5.0M | −$45K | — | −$1.6M | −$4.1M | −$5.1M |
| Q3 2025 | −$339K | −$2K | — | — | $365K | −$341K |
| Q2 2025 | $80K | −$5K | — | — | −$42K | $75K |
| Q1 2025 | −$229K | −$1K | — | $180K | $71K | −$230K |
| Q4 2024 | −$3.6M | — | $36.6M | −$420K | −$325K | −$3.6M |
Fusemachines: income statement and cash flow
Fusemachines, Q3 2026: revenue $1.8M (+3% year over year), operating margin -125.4%. The chart follows the revenue to costs, profit and cash.
Fusemachines: every quarter, Q/Q and Y/Y → Open in the app
Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.