Key Highlights

● Fusemachines received a Nasdaq delisting notice on September 24, 2026 after missing the $50 million Market Value threshold.

● The 180-day compliance period, which began March 27, 2026, expired September 23, 2026 without a cure.

● Fusemachines intends to timely request a Nasdaq Hearings Panel review, which would stay the delisting action.

● Both FUSE common stock and FUSEW warrants remain listed on Nasdaq pending the panel's decision.

Fusemachines Inc. (NASDAQ:FUSE) received a delisting notice from Nasdaq on September 24, 2026 after failing to cure a market-value deficiency within its 180-day compliance period, which ended September 23, 2026, the company disclosed in an 8-K filed the same week. Fusemachines said it intends to timely request a review before a Nasdaq Hearings Panel, a step that would stay any delisting action pending the panel's decision.

The Underlying Deficiency

According to the filing, Fusemachines failed to maintain the minimum Market Value of Listed Securities of $50,000,000 required under Nasdaq Listing Rule 5450(b)(2)(A). Nasdaq had first notified the company of the deficiency on March 27, 2026, starting a 180-day compliance clock that expired September 23, 2026 without the company regaining compliance. Nasdaq's September 24, 2026 notice formally advised Fusemachines that its securities are now subject to delisting absent further action.

What Happens Next

Under Nasdaq's procedures, a timely request for a hearing before the Nasdaq Hearings Panel automatically stays any delisting action while the panel considers the company's case. The filing states plainly that there is no assurance the panel will grant Fusemachines' request for continued listing, nor any assurance the company can regain compliance with the market-value requirement even if given more time. That cautious, unresolved framing is standard in filings of this type, since the outcome depends on a subsequent panel decision not yet made as of the filing date.

What's at Stake for Investors

Fusemachines has two classes of securities listed on Nasdaq: its common stock, trading under FUSE, and warrants to purchase common stock, trading under FUSEW. Both would be affected if the company is ultimately Delisted and forced to move to over-the-counter trading, which generally reduces Liquidity and can trigger additional disclosure or financing complications for a company. The filing does not disclose Fusemachines' current market capitalization, share price, or any specific plan, such as a Reverse Stock Split or new financing, for regaining compliance with the $50 million threshold.

Reading a Delisting Notice Correctly

A Nasdaq notice of this kind is a procedural disclosure obligation under Item 3.01 of Form 8-K and does not, by itself, mean Fusemachines' shares are being delisted immediately; the hearings panel process exists specifically to give companies additional time and an opportunity to present a remediation plan. The filing does not restate Fusemachines' operating Business or recent financial results, focusing narrowly on the listing-compliance issue itself.

The Market-Value Standard, Explained

The Market Value of Listed Securities standard measures the total market value of a company's publicly held shares rather than its full market capitalization, and Nasdaq requires companies on certain listing tiers to keep that figure at or above $50 million. Falling short is one of several financial-standard deficiencies Nasdaq monitors continuously; the compliance process typically starts with an initial notice, as Fusemachines received on March 27, 2026, followed by a fixed period, 180 days in this case, during which the company can regain compliance on its own before Nasdaq proceeds to a formal delisting determination like the one issued September 24, 2026.

Company Background

Fusemachines Inc. is headquartered in Fort Lauderdale, Florida, and trades on Nasdaq under the tickers FUSE and FUSEW. The filing identifies the company only by its corporate details and Nasdaq listing status; it does not include a business description, recent Revenue figures, or management commentary explaining the drop in market value that triggered the original March 2026 notice.

The Road to the Hearings Panel

Fusemachines must file its hearing request with Nasdaq in a timely manner to preserve the automatic stay on delisting. The Nasdaq Hearings Panel's eventual decision will determine whether Fusemachines retains its listing, and on what conditions or timeline. No specific remediation plan, such as a reverse split or capital raise, is disclosed in this filing, and both FUSE common stock and FUSEW warrants remain listed on Nasdaq pending the outcome of the hearing process.