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FATN · NASDAQ · Software - Infrastructure

FatPipe

Builds subscription software that combines SD-WAN, networking, security, and monitoring.

$6.14

After-hours close+0.01 (+0.16%)

At close$6.13(+1.66%)

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Profile

FatPipe, Inc. Common StockFATNInformation Technology

Provides subscription-based, application-aware SD-WAN software and an integrated platform combining networking, security, and monitoring. Customers include enterprises, service providers, government organizations, and middle-market companies, reached through direct and third-party distribution channels.

Builds enterprise-class, application-aware SD-WAN software and an integrated single-stack platform for networking, cybersecurity, and monitoring. Its technology grew from WAN-reliability work centered on router clustering, redundancy, optimization, and security functions.

Subscription sales are made through distributors, value-added resellers, ISPs, and other third parties, while the company typically retains direct end-user contracts and support. Customers span enterprises, communications and security service providers, government organizations, and middle-market companies.

Sales extend across the United States and South Asia. Founder leadership remains central: Ragula Bhaskar is CEO and Chairman, while Sanchaita Datta is President and CTO; the company says the founders are its primary technology inventors and have been instrumental in partnerships.

Company facts

CEORagula Bhaskar

ListedApr 8, 2025

ExchangeNASDAQ

HeadquartersSalt Lake City, UT

CountryUnited States

Employees172

CIK0001993400

ISINUS3119211007

Key statistics

Market cap$86.1M

EPS (ttm)$0.3892

P/E (ttm)15.78

ROE23.2%

P/B3.26

P/S4.24

Dividend yield—

Beta2.19vs XLK 0.13

Year to date +185% · Average volume (30d) 99.9K

Analysts

No analyst consensus on record.

Earnings

EPS

Estimate$0.05

ReportedDue Nov 2, 2026

Revenue

Estimate$5.0M

ReportedDue Nov 2, 2026

History

Report date	EPS est	EPS	Surprise	Revenue est	Revenue	Surprise	Next session
Jul 30, 2026Q1 FY26	$0.07	—	—	$4.8M	$5.0M	+4.2%	+18.75%
May 18, 2026Q4 FY25	$0.17	$0.39	+129.4%	$6.5M	$7.2M	+10.3%	−7.77%
Feb 2, 2026Q3 FY25	—	$0.02	—	$5.6M	$4.1M	−27.0%	+41.30%
Nov 3, 2025Q2 FY25	—	$0.00	—	—	$4.0M	—	−6.75%

View details

Financial highlights

	Q4 FY24	Q1 FY25	Q2 FY25	Q3 FY25	Q4 FY25	Q1 FY26
Revenue	$3.1M	$3.9M	$4.0M	$4.1M	$7.2M	$5.0M
Gross profit	$2.8M	$3.7M	$3.6M	$3.6M	$6.5M	$4.6M
Operating income	$184.8K	$1.0M	−$793	$402.4K	$2.2M	$901.5K
Net income	$84.4K	$741.2K	−$43.4K	$310.7K	$4.0M	$1.2M
Diluted EPS	$0.01	$0.05	−$0.00	$0.02	$0.28	$0.09
Gross margin	87.9%	94.2%	92.1%	87.7%	90.5%	92.2%
Operating margin	5.9%	25.5%	-0.0%	9.8%	30.2%	17.9%

Fiscal years (4-quarter sums)FY24 $13.8M · FY25 $19.2M

Revenue by product · Q1 FY26

Product$3.5M · 70%

Service$944.4K · 19%

Consulting$548.4K · 11%

Revenue by geography · Q1 FY26

United States$4.8M · 95%

Non-US$247.5K · 5%

Balance sheet, Jun 30, 2026Cash & short-term investments $4.3M · Total debt $5.6M · Total assets $35.5M · Shareholders' equity $26.5M

Dividends

No dividends on record.

Ownership

Institutions —Insiders 46.21%

Shares outstanding 14.03M · Float 6.37M · 45.4% free float

Top shareholders13F · 13D/G · Form 4

Holder	Shares	% outstanding	Form	Filed
Ragula Bhaskar · director, 10 percent owner:	2.31M	16.44%	Form 4	Mar 25, 2026
Mason Sutter SF Trust · director, other: Beneficial Owner of the Trust.	1.59M	11.34%	Form 4	Apr 10, 2025
Sanchaita Datta · director, 10 percent owner:	1.55M	11.05%	Form 4	Jan 28, 2026
Skyline Investment Trust · director, other: Beneficial owner of the Trust.	1.03M	7.35%	Form 4	Apr 10, 2025
I. Bobby Majumder · director	2.2K	0.02%	Form 4	Jun 22, 2026

Insider tradesForm 4

Date	Insider	Role	Shares	Avg price
Mar 3, 2026	Ragula Bhaskar	director, 10 percent owner:	+20,000	$1.45
Jan 13, 2025	Sanchaita Datta	director, 10 percent owner:	+1,500	$2.14
Jan 14, 2025	Sanchaita Datta	director, 10 percent owner:	+1,000	$2.13
Jan 15, 2025	Sanchaita Datta	director, 10 percent owner:	+2,000	$2.15