FATN
FatPipe, Inc.2.4800
-0.1400-5.34%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
34.53MP/E (TTM)
82.67Basic EPS (TTM)
0.03Dividend Yield
0%Recent Filings
10-Q
Q3 FY2026 results
FatPipe swung to solid Q3 momentum with revenues up 30% y/y to $4.1M (derived), driven by 32% product growth, while gross margin held steady at 88%. Operating income climbed to $402K from $185K, but YTD revenue dipped 4% to $12.0M versus prior year amid tough comps from large contracts, with EPS at $0.02 aligning to 13.9M diluted shares. Cash swelled to $6.2M on $3.7M net IPO proceeds in April 2025, funding sales ramp-up; operating cash flow turned positive at $132K YTD while trimming debt to $4.6M total (Fortis Bank term loan at 8.75%). Free cash flow not disclosed in the 10-Q. Partner concentration persists at 47%.
10-Q
Q2 FY2026 results
FatPipe's Q2 FY2026 revenue fell 29% y/y to $3.96M versus an exceptional prior quarter with $1.4M in large contracts, yet YTD revenue of $7.90M held 16% below last year while gross margin slipped to 92% from 96% on higher input costs. Operating expenses climbed on sales headcount and $625K stock-based comp, flipping Q2 to a slim operating loss while YTD operating income landed at $1.00M; net loss diverged from operating mainly via interest expense. Cash swelled to $6.23M post-$3.87M IPO proceeds, offsetting $109K operating cash use; total debt sits at $4.76M on an 8.75% Fortis term loan maturing post-2030. Partner A drove 49% of YTD revenue. Sales steady sans lumpy wins. Customer concentration looms large.
10-Q
Q1 FY2026 results
FatPipe posted Q1 FY2026 revenue of $3.9M, up 5% y/y from $3.8M, fueled by 14% product growth to $2.4M while consulting dipped; gross margin widened to 94.2% from 92.4% on lower hardware costs. Operating income climbed 17% y/y to $1.0M, diluted EPS held at $0.05 on 13.8M shares. Cash doubled to $5.9M post-April IPO proceeds, despite $509K operating cash use; total debt sits at $4.9M (8.75% Fortis term loan, secured). Notes payable fell q/q. Partner A drove 38% of sales. Three partners supplied 44% revenue. Competition heats up.
10-K
FY2025 results
FatPipe's FY2025 revenue fell 9% y/y to $16.3M, with product sales down 7.9% amid management's IPO focus, yet recurring billings from subscriptions jumped 23% signaling momentum. Gross margins slipped to 93% from 94% on steady costs, while operating income dropped to $3.5M from $5.6M as sales and G&A rose on promotions and public costs. Q4 drove contracts receivable growth to $17.5M, bolstering $2.9M cash despite $5M debt at 8.75%. No annual guidance disclosed. Partner concentration risks quarterly flows.
IPO
Website
Employees
Sector
Industry
ATEN
A10 Networks, Inc.
18.03+0.23
AVNW
Aviat Networks, Inc.
21.06+0.04
BAND
Bandwidth Inc.
15.00+0.14
EXTR
Extreme Networks, Inc.
16.79-0.13
FFIV
F5, Inc.
258.26-4.75
FTNT
Fortinet, Inc.
82.47+0.95
NTAP
NetApp, Inc.
113.09-1.02
NTNX
Nutanix, Inc.
48.27+0.51
NTSK
Netskope, Inc.
20.04+0.99
PANW
Palo Alto Networks, Inc.
187.09+1.21