Company: CSLMF
Filing Date: 2025-07-03
Form Type: DEFM14A
Source: 0001193125-25-155514
Chunk: 405

Company: CSLM ACQUISITION CORP.
Filing Date: 2025-07-03
Form: DEFM14A
Chunk 405
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 obtained by management.

Other (expense) income– Other (expense) income consists of our proportional share of earnings and losses related to our equity
method investment as well as impairment loss, penalties and settlements, and other miscellaneous expenses.

Other income for the quarter
ending March 31, 2025, was $0.01 million, compared to other expenses of $0.02 million for the quarter ended March 31, 2024, representing an increase of $0.03 million. The increase was primarily due to the reversal of other
expenses by $0.01 million and one time preference dividend booked for quarter ended March 2024 amounting to $0.02 million.

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Provision for income tax– Provision for income tax is accounted for using the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been recognized in our consolidated financial statements or tax returns. In addition, deferred tax assets are recorded for all future benefits including, but not limited to, net operating losses, research and development credit carryforwards, and basis differences with certain assets and liabilities. Provision for income tax is Nil for the for the quarter ended March 31, 2025 and quarter ended March 31, 2024. Net loss– Net loss for the quarter ended March 31, 2025, was $0.25 million, compared to a net loss of $3.3 million for March 31, 2024. The change was the result of increase in profit on change in fair value of convertible notes and warrant liability, decrease in Selling and Marketing expense due to decrease in stock-based compensation due to the completion of vesting for previously granted awards, payroll expenses and a decrease in Loss on extinguishment of debt. Year Ended December 31, 2024 Compared to Year Ended December 31, 2023

| (In USD, In thousands)                                                  |     | 2024 |            |   |     | 2023 |           |   |     | $Variance |           |   |     | % Variance |      |    |
| Revenue                                                                 |     |      |      8,811 |   |     |      |     7,438 |   |     |           |     1,373 |   |     |            |   18 | %  |
| Cost of revenue (1)                                                     |     |      |     (3,976 | ) |     |