diff --git a/src/memos/utils.py b/src/memos/utils.py
index f7111f8ad..270c232e9 100644
--- a/src/memos/utils.py
+++ b/src/memos/utils.py
@@ -179,6 +179,9 @@ def wrapper(*args, **kwargs):
                 if fallback is not None and callable(fallback):
                     result = fallback(e, *args, **kwargs)
                     return result
+                else:
+                    # Re-raise the exception if no fallback is provided
+                    raise
             finally:
                 elapsed_ms = (time.perf_counter() - start) * 1000.0
 
diff --git a/tests/test_utils_timing.py b/tests/test_utils_timing.py
index b4d5cb989..dc55be630 100644
--- a/tests/test_utils_timing.py
+++ b/tests/test_utils_timing.py
@@ -388,3 +388,34 @@ def parens():
 
         assert bare() == 1
         assert parens() == 2
+
+    def test_exception_without_fallback_should_propagate(self, caplog):
+        """Bug fix: exceptions should be re-raised when no fallback is provided."""
+
+        @timed_with_status
+        def failing_func():
+            raise ValueError("test exception")
+
+        with caplog.at_level(logging.INFO):
+            with pytest.raises(ValueError, match="test exception"):
+                failing_func()
+
+        # The exception should propagate AND the failure should be logged
+        logs = _collect_timer_with_status_logs(caplog)
+        assert len(logs) == 1
+        assert "status: FAILED" in logs[0]
+        assert "error_type: ValueError" in logs[0]
+
+    def test_exception_with_none_fallback_should_propagate(self, caplog):
+        """Bug fix: explicit fallback=None should still re-raise exceptions."""
+
+        @timed_with_status(fallback=None)
+        def failing_func():
+            raise RuntimeError("explicit none")
+
+        with caplog.at_level(logging.INFO):
+            with pytest.raises(RuntimeError, match="explicit none"):
+                failing_func()
+
+        logs = _collect_timer_with_status_logs(caplog)
+        assert "status: FAILED" in logs[0]