CSLM Acquisition Corp. Reports $203,872 Net Loss for Q2 2025 Amid Ongoing Merger with Fusemachines

CSLM Acquisition Corp. reported a net loss of $203,872 for the three months ended June 30, 2025, a significant decline from a net income of $422,450 during the same period in 2024. For the six months ending June 30, 2025, the company experienced a net loss of $2,265,769, compared to a net income of $570,542 in the prior year. The losses were primarily attributed to increased legal and accounting expenses totaling $492,006, a loss on extinguishment of debt amounting to $1,822,844, and various operational costs. The company’s revenue sources remain limited, as it has not yet completed a business combination, which is expected to generate operational revenues.

In terms of financial position, CSLM Acquisition Corp. reported total assets of $16,667,858 as of June 30, 2025, a slight increase from $16,174,948 at the end of 2024. The company’s cash reserves decreased significantly from $83,227 to $14,041 over the same period, reflecting ongoing operational expenditures. The total liabilities also rose to $11,695,510 from $10,819,675, driven by increased accrued expenses and a promissory note from a related party, which increased from $2,750,000 to $3,363,000.

Strategically, CSLM Acquisition Corp. is in the process of finalizing a merger with Fusemachines Inc., which is expected to enhance its operational capabilities and market presence. The company has extended its timeline to complete this business combination multiple times, with the latest extension allowing until October 18, 2025. As of June 30, 2025, the company had successfully executed 13 of the 15 one-month extensions permitted under its trust agreement, reflecting its commitment to securing a viable business combination.

Operationally, CSLM Acquisition Corp. has faced challenges, including a working capital deficit of $4,958,706 as of June 30, 2025. The company has relied on loans from its sponsor to meet liquidity needs, indicating potential financial strain. The total number of Class A ordinary shares subject to possible redemption remained at 1,372,687, with a market value of approximately $16,572,304. The company’s ability to attract and retain investors will be critical as it navigates these financial challenges and seeks to complete its merger.

Looking ahead, CSLM Acquisition Corp. remains focused on executing its business combination with Fusemachines, which is anticipated to provide a pathway to operational revenue generation. However, the company acknowledges the risks associated with market conditions, including inflation and geopolitical instability, which could impact its financial performance and ability to complete the merger. The management is actively exploring options to secure additional funding and enhance its operational framework to ensure successful execution of its strategic objectives.