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FatPipe, Inc.

FATN

NASDAQTechnologySoftware - Infrastructure

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$6.38

+$0.235 · +3.82%

Aug 21, 4:00 PM ET

FATN company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Hold

Wait — insufficient conviction to act

Valuation

89

Deep Value

Momentum

57

Neutral

Sentiment

64

Bullish

Risk resilience

16

Extreme Risk

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Company profile

Company website

FatPipe, Inc. develops application-aware, secure software-defined wide area network, secure access service edge, and network monitoring service (NMS) software solutions in the United States, India, and internationally. The company offers SD-WAN, a network architecture solution that allows enterprises to utilize software and virtualization technologies to enhance the performance, security, and manageability of their WANs that connect offices, data centers, cloud applications, and cloud storage; SASE that provides virtual network functions, which combine networking and network security services into a single cloud-delivered solution; and NMS, a EnterpriseView reporting system for network monitoring that provides a platform to monitor an end-user’s WAN and the performance of FatPipe devices under management. It also provides technical support services, professional, technology development, and training services. In addition, the company offers its solutions to enterprises, communication service providers, security service providers, government organizations, and other middle-market companies. The company sells its software solutions through a subscription-based model through a network of distributors, value-added resellers, internet service providers, and other third parties. FatPipe, Inc. was incorporated in 2010 and is headquartered in Salt Lake City, Utah.

Industry
Software - Infrastructure
Sector
Technology
Headquarters
US
CEO
Ragula Bhaskar
Listed since
Apr 8, 2025
Employees
172

Market position

Day range

Current $6.38

52-week range

Current $6.38

Open
$6.19
Previous close
$6.145
Volume
44.51K
0.04× average
Average volume
1.12M
Average daily volume
Market cap
89.48M USD
Beta
2.78
Market reference 1
50-day average
$5.6986
+11.96% above average
200-day average
$3.4562
+84.59% above average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
34.37M USD
P/E (TTM)
16.39×
P/B (TTM)
3.39×
P/S (TTM)
4.41×
EV / EBITDA
7.94×
Earnings yield
14.67%
Free cash flow yield
-2.46%
Dividend yield
0.00%

Profitability & efficiency

Gross margin
90.68%
Operating margin
17.18%
Net margin
26.87%
Return on equity
19.71%
Return on assets
14.40%
Return on invested capital
11.56%

Financial health

Debt / equity
0.21×
Current ratio
3.85×

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends104%66%27%-11%Gross margin, FY2021: 94.42%Gross margin, FY2022: 93.02%Gross margin, FY2023: 94.01%Gross margin, FY2024: 93.48%Gross margin, FY2025: 91.00%Operating margin, FY2021: -1.81%Operating margin, FY2022: 20.51%Operating margin, FY2023: 31.57%Operating margin, FY2024: 21.31%Operating margin, FY2025: 18.69%Net margin, FY2021: 3.90%Net margin, FY2022: 18.43%Net margin, FY2023: 24.45%Net margin, FY2024: 12.07%Net margin, FY2025: 25.87%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 94.42%. Gross margin FY2022 93.02%. Gross margin FY2023 94.01%. Gross margin FY2024 93.48%. Gross margin FY2025 91.00%. Operating margin FY2021 -1.81%. Operating margin FY2022 20.51%. Operating margin FY2023 31.57%. Operating margin FY2024 21.31%. Operating margin FY2025 18.69%. Net margin FY2021 3.90%. Net margin FY2022 18.43%. Net margin FY2023 24.45%. Net margin FY2024 12.07%. Net margin FY2025 25.87%.

Income trends

Revenue

19.21M USD+17.92%

Operating income

3.59M USD+3.39%

Net income

4.97M USD+152.74%
Income trends across reported periods21.15M USD13.38M USD5.61M USD−2.17M USDRevenue, FY2021: 12.4M USDRevenue, FY2022: 15.8M USDRevenue, FY2023: 17.86M USDRevenue, FY2024: 16.29M USDRevenue, FY2025: 19.21M USDOperating income, FY2021: −224.14K USDOperating income, FY2022: 3.24M USDOperating income, FY2023: 5.64M USDOperating income, FY2024: 3.47M USDOperating income, FY2025: 3.59M USDNet income, FY2021: 483.73K USDNet income, FY2022: 2.91M USDNet income, FY2023: 4.37M USDNet income, FY2024: 1.97M USDNet income, FY2025: 4.97M USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 12.4M USD. Revenue FY2022 15.8M USD. Revenue FY2023 17.86M USD. Revenue FY2024 16.29M USD. Revenue FY2025 19.21M USD. Operating income FY2021 −224.14K USD. Operating income FY2022 3.24M USD. Operating income FY2023 5.64M USD. Operating income FY2024 3.47M USD. Operating income FY2025 3.59M USD. Net income FY2021 483.73K USD. Net income FY2022 2.91M USD. Net income FY2023 4.37M USD. Net income FY2024 1.97M USD. Net income FY2025 4.97M USD.
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue19.21M USD16.29M USD17.86M USD15.8M USD12.4M USD
Cost of goods sold1.73M USD1.06M USD1.07M USD1.1M USD691.61K USD
Gross profit17.48M USD15.23M USD16.79M USD14.69M USD11.71M USD
Research and development1.91M USD1.79M USD1.74M USD1.8M USD1.63M USD
Selling, general, and administrative11.99M USD9.97M USD9.42M USD9.66M USD10.3M USD
Operating expenses13.89M USD11.76M USD11.15M USD11.45M USD11.93M USD
Interest income125.19K USD42.69K USD27.26K USD134 USD84.3K USD
Interest expense475.07K USD329.89K USD302.12K USD107.13K USD31.27K USD
Depreciation and amortization369.25K USD545.71K USD699.26K USD582.33K USD513.75K USD
Operating income3.59M USD3.47M USD5.64M USD3.24M USD−224.14K USD
Net income4.97M USD1.97M USD4.37M USD2.91M USD483.73K USD

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
100%
2 beats, 0 misses, 0 met estimates
Average EPS surprise
+81.44%
2 comparable reports
Latest EPS result
0.09
Estimate 0.05 · Beat by 68.76%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates0.370.230.09-0.04Q2 '25No estimateQ3 '25No estimateQ4 '25No estimateQ1 '26No estimateQ2 '26BeatQ3 '26BeatQ4 '26Estimate
Q2 2025, reported Jun 30, 2025: actual 0.006, estimate —, surprise —, Comparison unavailable. Q3 2025, reported Jul 30, 2025: actual 0.05, estimate —, surprise —, Comparison unavailable. Q4 2025, reported Nov 3, 2025: actual -0.003, estimate —, surprise —, Comparison unavailable. Q1 2026, reported Feb 2, 2026: actual 0.02, estimate —, surprise —, Comparison unavailable. Q2 2026, reported May 18, 2026: actual 0.33, estimate 0.17, surprise +94.12%, Beat. Q3 2026, reported Jul 30, 2026: actual 0.09, estimate 0.053, surprise +68.76%, Beat. Q4 2026, reported Nov 2, 2026: actual —, estimate 0.05, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates7.52M5.96M4.39M2.82MQ2 '25No estimateQ3 '25MetQ4 '25MetQ1 '26MissQ2 '26BeatQ3 '26BeatQ4 '26Estimate
Q2 2025, reported Jun 30, 2025: actual 3.15M USD, estimate —, surprise —, Comparison unavailable. Q3 2025, reported Jul 30, 2025: actual 3.94M USD, estimate 3.94M USD, surprise 0.00%, Met estimate. Q4 2025, reported Nov 3, 2025: actual 3.96M USD, estimate 3.96M USD, surprise 0.00%, Met estimate. Q1 2026, reported Feb 2, 2026: actual 4.1M USD, estimate 5.6M USD, surprise -26.79%, Miss. Q2 2026, reported May 18, 2026: actual 7.2M USD, estimate 6.53M USD, surprise +10.29%, Beat. Q3 2026, reported Jul 30, 2026: actual 5.03M USD, estimate 4.83M USD, surprise +4.14%, Beat. Q4 2026, reported Nov 2, 2026: actual —, estimate 5.03M USD, surprise —, Comparison unavailable.

FATN news

accessnewswire.com

FatPipe Inc., (FATN) Launches Constellation, an AI-Assisted Network Management and Visibility Solution, an Affordable SMB Offering

New solution provides centralized visibility and monitoring across local area networks SALT LAKE CITY, UT / ACCESS Newswire / August 18, 2026 / FatPipe, Inc. (NASDAQ:FATN) ("FatPipe" or the "Company"), today announced…

Read source
globenewswire.com

FatPipe and Carahsoft Partner to Bring Secure SD-WAN, SASE and Resilient Connectivity Solutions to the Public Sector

SALT LAKE CITY and RESTON, Va., Aug. 04, 2026 (GLOBE NEWSWIRE) -- FatPipe, Inc. (NASDAQ: FATN), the inventor of software-defined wide area networking and a leader in enterprise-class Secure SD-WAN and cybersecurity…

Read source
marketbeat.com

Fatpipe Inc/UT Q1 Earnings Call Highlights

Fatpipe Inc/UT NASDAQ: FATN reported first-quarter fiscal 2027 sales growth of about 27% and income growth of roughly 65% from the prior-year period, while earnings per share increased to $0.09 from $0.05, Chief…

Read source
prnewswire.com

FatPipe, Inc. (FATN) Reports Q1 FY2027 Results: 28% Y-o-Y Q1 Revenue Growth and 25.6% Adjusted EBITDA Margin

SALT LAKE CITY, July 30, 2026 /PRNewswire/ -- FatPipe, Inc. (NASDAQ: FATN) ("FatPipe" or the "Company"), a pioneer and multiple patents holder in enterprise-class, application-aware, secure software-defined wide area…

Read source
accessnewswire.com

FatPipe CEO Publishes Letter to Shareholders Regarding its S-3 Filing

SALT LAKE CITY, UT / ACCESS Newswire / July 23, 2026 / FatPipe, Inc. (NASDAQ:FATN) ("FatPipe" or the "Company"), a pioneer in enterprise-class software-defined wide area networking ("SD-WAN") and single-stack…

Read source
accessnewswire.com

FatPipe (NASDAQ:FATN) Awarded a $7 Million Education Contract to Support Network Access and Monitoring

SALT LAKE CITY, UT / ACCESS Newswire / July 21, 2026 / FatPipe, Inc. (NASDAQ:FATN) ("FatPipe" or the "Company"), a pioneer and multiple patents holder in enterprise-class software-defined wide area networking (SD-WAN)…

Read source

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ETFs holding FATN

Funds reporting this stock among their holdings, ordered by reported position size.

iShares Micro-Cap ETF logoiShares Micro-Cap ETFIWC
Market value
157.14K
Weight
0.01%
AUM
1.53B USD
Expense ratio
0.60%
Price / 1D
$198.39+1.10%

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