Fusemachines Valuation Multiples

Discover Fusemachines' revenue and EBITDA valuation multiples and M&A history.

Fusemachines Overview

About Fusemachines

Fusemachines Inc is a provider of enterprise AI products and solutions. The company provides good quality AI education in underserved communities and helping organizations achieve their full potential with AI. The products of the company include AI Studio, Answer Gen, GenAI Engines, and others.


Founded

2012

HQ

United States

Employees

N/A

Financials (FY)

Revenue: $8M
EBITDA: ($380K)

EV

$25M

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Fusemachines Financials

Fusemachines reported last fiscal year revenue of $8M and negative EBITDA of ($380K).

In the same fiscal year, Fusemachines generated $4M in gross profit, ($380K) in EBITDA losses, and had net loss of ($928K).


Fusemachines P&L

In the most recent fiscal year, Fusemachines reported revenue of $8M and EBITDA of ($380K).

Fusemachines is unprofitable as of last fiscal year, with gross margin of 56%, EBITDA margin of (5%), and net margin of (12%).

See analyst estimates for Fusemachines
Last FY202320242025202620272028
Revenue$8M$7M$9M$8M
Gross Profit$4M$4M$5M$4M
Gross Margin56%57%55%56%
EBITDA($380K)($6M)($15M)($380K)
EBITDA Margin(5%)(81%)(168%)(5%)
EBIT Margin(77%)(71%)(93%)(77%)
Net Profit($928K)($7M)($15M)($928K)
Net Margin(12%)(91%)(175%)(12%)

Financial data powered by Morningstar, Inc.

Fusemachines Stock Performance

Fusemachines has current market cap of $24M, and enterprise value of $25M.


Fusemachines' stock price is $0.83.

Fusemachines has an EPS (earnings per share) of $-0.03.

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EVMarket CapPrice 1DPrice 1MPrice 3MPrice 12MEPS
$25M$24M2.0%---$-0.03

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Fusemachines Valuation Multiples

Fusemachines trades at 3.2x EV/Revenue multiple, and (65.2x) EV/EBITDA.

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Fusemachines Financial Valuation Multiples

As of August 14, 2026, Fusemachines has market cap of $24M and EV of $25M.

Fusemachines has a P/E ratio of (25.8x).

Last FY202320242025202620272028
EV/Revenue3.2x3.3x2.8x3.2x
EV/EBITDA(65.2x)(4.1x)(1.7x)(65.2x)
EV/EBIT(4.2x)(4.7x)(3.0x)(4.2x)
EV/Gross Profit5.7x5.8x5.1x5.7x
P/E(25.8x)(3.5x)(1.6x)(25.8x)
EV/FCF(4.3x)(8.9x)(10.5x)(4.3x)

Multiples above and below 250x are considered non-meaningful (n/m). Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Fusemachines Margins & Growth Rates

In the most recent fiscal year, Fusemachines reported gross margin of 56%, EBITDA margin of (5%), and net margin of (12%).

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Fusemachines Margins

Last FY20242025202720282029
Gross Margin56%55%56%
EBITDA Margin(5%)(168%)(5%)
EBIT Margin(77%)(93%)(77%)
Net Margin(12%)(175%)(12%)
FCF Margin(74%)(27%)(74%)

Fusemachines Growth Rates

23/2424/2526/2727/2828/29
Revenue Growth18%(12%)
Gross Profit Growth14%(11%)
EBITDA Growth145%(97%)
EBIT Growth55%(27%)
Net Profit Growth127%(94%)
FCF Growth(15%)141%

Data powered by FactSet, Inc. and Morningstar, Inc.

Fusemachines Operational KPIs

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Last FY202320242025202620272028
S&M Expenses to Revenue18%25%22%18%
G&A Expenses to Revenue106%94%117%106%
R&D Expenses to Revenue9%8%8%9%
Opex to Revenue133%128%148%133%

Data powered by FactSet, Inc. and Morningstar, Inc.

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Fusemachines Competitors

EV/RevenueEV/EBITDA
Last FYLTM2027ELast FYLTM2027E

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Fusemachines VC Funding History

Before going public, Fusemachines raised $9M in total equity funding, across 4 rounds.


Fusemachines Funding Rounds

DateStageInvestorsRaisedValuationRev. MultipleDeal Summary
Jan-22SeedBusiness Oxygen (BO2)$1M--
Dec-18Seed-$3M-Fusemachines secured $1 million in foreign direct investment from Business Oxygen Private Limited on December 1, 2018. The funding supported growth of its Nepal team by adding at least 200 new engineers and advancing AI education and upskilling initiatives. Founded in 2013, Fusemachines provides enterprise AI products and solutions using proprietary AI Studio and AI Engines to drive AI enterprise transformation.
Mar-17Seed-$4M--
Jul-14SeedRugged Ventures; Tectonic Capital; Future Perfect Ventures$1M--

Acquisitions by Fusemachines

Fusemachines has acquired 1 company to date.

Last acquisition by Fusemachines was on June 29th 2018. Fusemachines acquired Rake for undisclosed valuation.

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Latest Acquisitions by Fusemachines

Rake
Description
-
HQ CountryUnited States
HQ City
-
Deal Date29 Jun 2018
Valuationundisclosed
EV/Revenue
EV/EBITDA

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About Fusemachines

When was Fusemachines founded?Fusemachines was founded in 2012.
Where is Fusemachines headquartered?Fusemachines is headquartered in United States.
Is Fusemachines publicly listed?Yes, Fusemachines is a public company listed on Nasdaq.
What is the stock symbol of Fusemachines?Fusemachines trades under FUSE ticker.
When did Fusemachines go public?Fusemachines went public in 2025.
Who are competitors of Fusemachines?Fusemachines main competitors include
What is the current market cap of Fusemachines?Fusemachines' current market cap is $24M.
What is the current revenue of Fusemachines?Fusemachines' last fiscal year revenue is $8M.
What is the current EV/Revenue multiple of Fusemachines?Current revenue multiple of Fusemachines is 3.2x.
Is Fusemachines profitable?No, Fusemachines is not profitable.
How many companies Fusemachines has acquired to date?As of August 2026, Fusemachines has acquired 1 company.
What was the largest acquisition by Fusemachines?None of the M&A deals Fusemachines has completed have disclosed valuations.
What companies Fusemachines acquired?Fusemachines acquired Rake.
In how many companies Fusemachines has invested to date?Fusemachines hasn't invested in any companies yet (or none have been disclosed publicly).

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