FATN

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FatPipe, Inc.

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Key Metrics

Previous Close: $6.12
52-Week Range: $1.31 – $10.77
Market Cap: $86.82M
P/E (TTM): 15.76
EPS (TTM): 0.39
Dividend Yield: —

Advanced Metrics

Price/Book: 3.27
PEG Ratio: —
Return on Equity: 23.26%
Return on Assets: 6.46%
Gross Margin: 90.68%
Operating Margin: 17.92%
Profit Margin: 26.80%
Current Ratio: 3.98
Debt/Equity: 0.21
Total Debt: $5.52M
Free Cash Flow: $-383.94K
Revenue Growth: 27.80%
Earnings Growth: 74.00%
Enterprise Value: $88.03M

FATN Income statement, annual periods, in USD
USD	FY2023	FY2024	FY2025	FY2026
Revenue	$15.80M	$17.86M	$16.29M	$19.21M
Cost of Revenue	$1.10M	$1.07M	$1.06M	$1.73M
Gross Profit	$14.69M	$16.79M	$15.23M	$17.48M
Research & Development	$1.80M	$1.74M	$1.79M	$1.91M
Selling, General & Admin	$9.66M	$9.42M	$9.97M	$11.99M
Operating Expenses	$11.45M	$11.15M	$11.76M	$13.89M
Operating Income	$3.24M	$5.64M	$3.47M	$3.59M
EBITDA	$3.83M	$6.60M	$4.16M	$4.33M
Pretax Income	$3.14M	$5.60M	$3.29M	$3.49M
Income Tax	$255.46K	$1.32M	$1.33M	-$1.48M
Net Income	$2.91M	$4.37M	$1.97M	$4.97M
Diluted EPS	0.21	0.32	0.14	—
Diluted Shares	13.72M	13.77M	13.72M	—

FATN Balance Sheet statement, annual periods, in USD
USD	FY2023	FY2024	FY2025	FY2026
Cash & Equivalents	$1.08M	$1.11M	$2.92M	$5.21M
Receivables	$4.80M	$7.53M	$8.96M	$10.67M
Inventory	$355.95K	$113.52K	$419.68K	$445.84K
Current Assets	$7.24M	$9.34M	$12.96M	$16.46M
Total Assets	$15.73M	$21.44M	$28.29M	$34.52M
Current Liabilities	$3.96M	$4.72M	$6.49M	$4.27M
Long-Term Debt	$2.00M	$2.50M	$4.64M	$4.23M
Total Debt	$2.63M	$2.83M	$6.59M	$5.71M
Total Liabilities	$6.17M	$7.39M	$12.36M	$9.31M
Retained Earnings	$4.67M	$9.04M	$11.11M	$16.08M
Shareholders' Equity	$9.37M	$13.94M	$15.93M	$25.22M
Working Capital	$3.28M	$4.62M	$6.47M	$12.19M
Net Debt	$922.50K	$1.51M	$2.19M	—

FATN Cash Flow statement, annual periods, in USD
USD	FY2023	FY2024	FY2025	FY2026
Operating Cash Flow	-$1.84M	-$363.43K	-$504.12K	-$780.39K
Capital Expenditure	-$163.53K	-$19.19K	-$19.76K	-$52.48K
Free Cash Flow	-$2.01M	-$382.61K	-$523.89K	-$832.88K
Depreciation & Amortisation	$582.33K	$699.26K	$545.71K	$369.25K
Stock-Based Compensation	—	—	$0.00	$770.22K
Investing Cash Flow	-$163.53K	-$19.19K	-$19.76K	-$52.48K
Financing Cash Flow	$1.69M	$205.68K	$2.49M	$3.32M
Net Change in Cash	-$318.90K	-$176.94K	$1.96M	$2.49M

FATN Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$3.79M	$3.94M	$3.96M	$4.09M	$7.23M
Cost of Revenue	$168.78K	$226.93K	$312.90K	$503.82K	$684.73K
Gross Profit	$3.63M	$3.71M	$3.65M	$3.58M	$6.54M
Research & Development	$479.66K	$474.46K	$489.16K	$453.54K	$487.89K
Selling, General & Admin	$2.98M	$2.23M	$3.16M	$2.73M	$3.87M
Operating Expenses	$3.46M	$2.71M	$3.65M	$3.18M	$4.36M
Operating Income	$163.70K	$1.00M	-$793.00	$402.42K	$2.19M
EBITDA	$377.81K	$1.12M	$174.16K	$607.76K	$2.43M
Pretax Income	$192.09K	$956.38K	-$55.98K	$400.85K	$2.19M
Income Tax	$560.29K	$215.19K	-$12.60K	$90.19K	-$1.78M
Net Income	-$354.69K	$741.20K	-$43.39K	$310.66K	$3.96M
Diluted EPS	—	0.05	0.00	0.02	—
Diluted Shares	—	13.83M	13.89M	13.92M	—

FATN Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$2.92M	$5.91M	$6.23M	$6.16M	$5.21M
Receivables	$8.96M	$9.38M	$9.82M	$10.08M	$10.67M
Inventory	$419.68K	$408.16K	$328.74K	$167.35K	$445.84K
Current Assets	$12.96M	$16.34M	$16.60M	$16.57M	$16.46M
Total Assets	$28.29M	$32.02M	$32.24M	$32.38M	$34.52M
Current Liabilities	$6.49M	$6.30M	$6.05M	$6.12M	$4.27M
Long-Term Debt	$4.64M	$4.18M	$4.18M	$4.18M	$4.23M
Total Debt	$6.59M	$6.31M	$6.05M	$5.79M	$5.71M
Total Liabilities	$12.36M	$11.62M	$11.26M	$11.22M	$9.31M
Retained Earnings	$11.11M	$11.85M	$11.80M	$12.11M	$16.08M
Shareholders' Equity	$15.93M	$20.40M	$20.99M	$21.16M	$25.22M
Working Capital	$6.47M	$10.03M	$10.55M	$10.45M	$12.19M
Net Debt	$2.19M	—	—	—	—

FATN Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	-$189.97K	-$508.60K	$399.83K	$240.90K	-$912.52K
Capital Expenditure	-$7.01K	-$42.45K	—	-$8.52K	-$8.51K
Free Cash Flow	-$196.99K	-$551.05K	$406.84K	$232.38K	-$921.04K
Depreciation & Amortisation	$146.35K	$91.96K	$104.11K	$102.84K	$70.35K
Stock-Based Compensation	—	—	—	$0.00	$145.00K
Investing Cash Flow	-$7.01K	-$42.45K	$7.00K	-$8.52K	-$8.51K
Financing Cash Flow	$1.97M	$3.59M	-$12.06K	-$285.38K	$23.33K
Net Change in Cash	$1.78M	$3.04M	$394.77K	-$53.00K	-$897.71K

Market Snapshot

About

FatPipe, Inc. is a technology company that provides software-defined wide area network (SD-WAN) solutions for enterprise and service provider customers. The company's products enable organizations to optimize network performance, reduce costs, and improve reliability by intelligently routing traffic across multiple internet connections. FatPipe offers hardware and software solutions that provide redundancy, load balancing, and failover capabilities for mission-critical applications. The company serves customers across various industries including finance, healthcare, retail, and government sectors.