Fuse Group Holding Inc (FUST) reported a subdued QQ2 2025 quarter with a clear step-down in profitability and cash flow metrics. The company posted an operating loss of $81,218 and a net loss of $81,218 for the quarter, with no disclosed revenue figure for QQ2 2025 in the provided dataset. Administrative expenses were $81,218, offsetting limited or absent gross profit in the quarter, resulting in negative EBITDA of $81,218 and an EPS of -0.01. Operating cash flow was negative at $75,609, while financing activities contributed a net inflow of $97,932, yielding a net cash increase of $22,323 and ending cash of $41,139. The balance sheet shows a highly leveraged and structurally weak position: total assets of $46,506 versus total liabilities of $344,726, producing a negative stockholders’ equity of ($298,220). Liquidity metrics are stressed (current, quick, and cash ratios all around 0.22 or lower). Net debt stood at $97,543 with total debt of $138,682, suggesting limited financial flexibility.
Two prior quarters in the four-quarter display show a volatile revenue pattern: Q1 2025 revenue of $19,942 and Q4 2024 revenue of $129,885, implying an inconsistent revenue cadence and a reliance on external financing to fund operations. Year-over-year and quarter-over-quarter comparisons in the reported metrics show material deterioration in operating income (-439.3% YoY; -73.3% QoQ) and net income (-385.7% YoY; -61.8% QoQ), with EPS guidance collapsing (-3,233.3% YoY; -163.2% QoQ). Given the lack of an earnings call transcript in the provided data, management’s qualitative guidance and strategic commentary remain unavailable for incorporation into this summary. The near-term investment thesis remains highly speculative, hinging on a reset of cost structure, deleveraging, and a material uptick in mining/advisory activity that monetizes a scalable pipeline.