Estados financieros detallados de Fusemachines Inc. (FUSE): cuenta de resultados, balance general y flujo de caja. Sigue la evolución de márgenes, deuda, liquidez y rentabilidad año a año con hasta 20 años de histórico.
Cuenta de Resultados (10 años)
| Año | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | 0 | $6.9M | $7.4M | $533.0M | $7.7M |
| Coste de Ventas | 0 | $2.1M | $3.2M | -$12.9M | $3.4M |
| Beneficio Bruto | 0 | $4.8M | $4.2M | $545.9M | $4.3M |
| I+D | 0 | $275000 | $604000 | 0 | $720000 |
| Generales y Administrativos | $49154 | $5.2M | $8.9M | 0 | $9.5M |
| Gastos Operativos | $49154 | $5.5M | $9.5M | $519.3M | $10.3M |
| Beneficio Operativo | -$49154 | -$696000 | -$5.3M | $26.6M | -$6.0M |
| EBITDA | -$49154 | -$402000 | -$6.0M | $33.7M | -$380000 |
| Gastos por Intereses | 0 | $158000 | $451000 | $24.2M | $268000 |
| Beneficio Antes de Impuestos | -$49154 | -$728000 | -$6.8M | $9.5M | -$925000 |
| Impuestos | 0 | $23000 | $11000 | $354000 | $3000 |
| Beneficio Neto | -$49154 | -$751000 | -$6.8M | $9.1M | -$928000 |
| BPA | $-0.00 | $-0.03 | $-0.71 | $1.37 | $-0.08 |
| BPA Diluido | $-0.00 | $-0.03 | $-0.71 | $1.37 | $-0.08 |
| Acciones en Circulación (Diluidas) | $23.7M | $26.5M | $9.5M | $6.7M | $11.5M |
Balance (10 años)
| Año | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $20 | $903000 | $266000 | $500000 | $4.2M |
| Inversiones a Corto | 0 | 0 | $52.0M | 0 | 0 |
| Cuentas por Cobrar | 0 | $1.0M | $1.3M | $1.7M | $1.4M |
| Inventario | 0 | 0 | 0 | 0 | 0 |
| Activos Corrientes | $20 | $2.0M | $1.8M | $4.1M | $6.3M |
| Inmovilizado Material | 0 | $1.4M | $1.4M | $1.2M | $1.0M |
| Fondo de Comercio | 0 | 0 | 0 | 0 | 0 |
| Activos Intangibles | 0 | $29000 | $113000 | $187000 | $206000 |
| Activos Totales | $842540 | $3.4M | $3.3M | $5.5M | $7.5M |
| Cuentas por Pagar | 0 | $563000 | $1.2M | $6.5M | $5.0M |
| Deuda a Corto | $126894 | $395000 | $191000 | $9.9M | $642000 |
| Pasivos Corrientes | $866694 | $2.0M | $3.4M | $20.3M | $20.0M |
| Deuda a Largo | 0 | $3.3M | $6.0M | $6.7M | 0 |
| Pasivos Totales | $866694 | $7.2M | $11.8M | $29.9M | $22.1M |
| Reservas | -$49154 | -$12.1M | -$18.8M | -$34.2M | -$35.1M |
| Patrimonio Neto | -$24154 | -$3.9M | -$8.5M | -$24.3M | -$14.6M |
| Deuda Total | $126894 | $4.8M | $7.3M | $17.6M | $1.5M |
| Deuda Neta | $126874 | $3.9M | -$44.8M | $17.1M | -$2.7M |
| Capital Circulante | -$866674 | $9000 | -$1.6M | -$16.2M | -$13.8M |
Flujo de Caja (10 años)
| Año | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$751000 | -$6.8M | $26.3M | -$928000 |
| Amortizaciones | $168000 | $253000 | $25.7M | $277000 |
| Compensación en Acciones | 0 | $2.2M | $27.8M | 0 |
| Cambio en Capital Circulante | -$131000 | $908000 | $4.4M | -$212000 |
| Flujo de Caja Operativo | -$589000 | -$2.5M | $201.0M | -$5.5M |
| Inversiones (CapEx) | -$221000 | -$294000 | -$9.2M | -$53000 |
| Adquisiciones | 0 | 0 | 0 | 0 |
| Recompra de Acciones | 0 | -$149.5M | -$2.0M | 0 |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$810000 | -$2.8M | $191.9M | -$5.6M |
Crecimiento y Márgenes (10 años)
| Año | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | | +8.2% | +7066.2% | -98.6% |
| Crecimiento Beneficio Neto (anual) | | -1427.9% | -800.4% | +235.3% | -110.1% |
| Crecimiento BPA (anual) | | -1247.6% | -2408.8% | +293.0% | -105.9% |
| Cambio en Acciones (anual) | | +11.7% | -64.1% | -29.7% | +72.2% |
| Crecimiento FCF (anual) | | -241.7% | +7031.2% | -102.9% |
| Margen Bruto | | 69.2% | 57.0% | 102.4% | 55.8% |
| Margen Operativo | | -10.1% | -71.1% | 5.0% | -77.2% |
| Margen EBITDA | | -5.8% | -81.3% | 6.3% | -4.9% |
| Margen Neto | | -10.9% | -90.9% | 1.7% | -12.0% |
| Margen FCF | -11.8% | -37.2% | 36.0% | -72.4% |
| Tasa Impositiva Efectiva | -0.0% | -3.2% | -0.2% | 3.7% | -0.3% |
Datos por Acción (10 años)
| Año | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $-0.03 | $-0.29 | $28.66 | $-0.48 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $23.7M | $26.5M | $9.5M | $6.7M | $11.5M |
Qué mirar en empresas de Technology
- Crecimiento de ingresos 3a (≥15%/año) — Valida tracción sostenida, no un año puntual.
- Margen bruto (Depende del sub-sector) — SaaS ≥70%, Internet ≥55%, Semis ≥45%, Hardware ≥35%.
- FCF / Ingresos (≥20%) — Caja real generada. Muchas tech maquillan beneficios non-GAAP.
- ROIC (≥15%) — Eficiencia del capital reinvertido — la primera métrica de Buffett.
- SBC / Ingresos (<10% saludable) — Stock-based compensation. Dilución silenciosa: >20% destruye valor.
- Deuda Neta / EBITDA (≤2x (1,5x SaaS)) — Resistencia en recesiones y subidas de tipos.
Salud financiera
| Piotroski F-Score | 3 |
| Altman Z-Score | -9.79 |
Ratios Clave (10 años)
| Año | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -4638.10 | -357.60 | -15.34 | 8.39 | -20.50 |
| P/VC | -9564.49 | -69.16 | -12.24 | -3.17 | -1.30 |
| P/V | 0.00 | 39.00 | 13.93 | 0.14 | 2.47 |
| Margen Bruto | 0.0% | 69.2% | 57.0% | 102.4% | 55.8% |
| Margen Operativo | 0.0% | -10.1% | -71.1% | 5.0% | -77.2% |
| Margen Neto | 0.0% | -10.9% | -90.9% | 1.7% | -12.0% |