v3.26.3
Net loss per share
 9 Months Ended
Sep. 30, 2026
Earnings Per Share [Abstract]  
Net loss per share

Note 10. Net loss per share

 

Basic and diluted net loss per share attributable to common stockholders was calculated as follows (in thousands except for share and per share amounts:-

 

   2026   2025   2026   2025 
   Three months Ended September 30,   Nine months Ended September 30, 
   2026   2025   2026   2025 
Numerator:                
Net loss per share attributable to common stockholders  $(4,623)  $(1,174)   (8,428)   (5,213)
Denominator:                    
Weighted-average common shares outstanding -(A)   30,073,740    7,672,654    29,330,107    7,406,332 
Vested shares of Restricted stock units-(B)-(Refer note below)   512,869    -    172,835    - 
Weighted-average common shares outstanding - Basic and Diluted-(A+B)   30,586,609    7,672,654    29,502,942    7,406,332 
Net loss per share attributable to Fusemachines Inc. common stockholders - Basic and Diluted   (0.15)   (0.15)   (0.29)   (0.70)

 

Note:- Vested shares of Restricted stock units (B) represent restricted stock units for which all vesting conditions have been satisfied during the period, including vested RSUs for which the underlying common shares had not yet been issued as of September 30, 2026. As these shares are issuable for no further consideration and are no longer subject to any service or other contingency, they are considered outstanding common shares and have been included in the weighted-average number of common shares outstanding (basic and diluted) from the date on which vesting was completed, in accordance with ASC 260-10-45-13. Unvested RSUs are excluded from the computation.

 

The following outstanding shares of potentially dilutive securities were excluded from the computation of diluted net loss per share for the periods presented because including them would have been antidilutive:

 

   September 30,   December 31, 
   2026   2025 
Common Stock Warrants   92,211    92,211 
Stock options (1)   546,342    686,880 
SPAC public and private placement warrants (2) (Refer note 17)   13,458,750    13,458,750 
Equity Share warrant (Refer note 16)   2,108,070    2,108,070 
Issuance of warrants pursuant to conversion of convertible note (Refer note 6)   30,000    30,000 
Restricted stock units (RSU) (Refer note 9)   646,239    - 
Detachable common stock purchase warrants (the “Financing Warrants”) (Refer note 6)   2,050,000    - 
Potentially Diluted Securities   18,931,612    16,375,911 

 

(1)Includes 6,772 stock options as of December 31, 2025 that were early exercised in exchange for non-recourse promissory notes. (Refer to “Note 9 - Stock-based Compensation “).

 

(2)The SPAC public and private placement warrants were outstanding at CSLM Holding, Inc. prior to the business combination and were classified as equity and included in APIC in CSLM’s historical financial statements. The warrants became exercisable for shares of Fusemachines, Inc. common stock 30 days after the consummation of the business combination and were excluded from diluted net loss per share as their inclusion would have been antidilutive.

 

 

Fusemachines Inc. and Subsidiaries Notes to the Condensed Consolidated Interim Financial Statements