Saturday 17 October 2026
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FatPipe, Inc.
FATN Technology Software Infrastructure
In the quarter to June 2026, revenue grew 27.8%, EPS grew 80.0%, free cash flow fell 24.1% and total debt fell 1.03%, each against the same quarter a year earlier. Insiders bought in the last twelve months.
5.00
0.01
+0.20%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to March
| Group | Line | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Trend | 2027e | 2028e | 2029e |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Price, $ | |||||||||||||||
| Price, $ | Low | — | — | — | — | — | — | — | — | 1.82 | 1.31 |
Analyst estimates 2027–2029 Powerpack |
|||
| High | — | — | — | — | — | — | — | — | 23.27 | 8.61 | |||||
| People | |||||||||||||||
| People | Employees | — | — | — | — | — | — | — | 154 | 154 | 172 | ||||
| Revenue/emp, $m | — | — | — | — | — | — | 0.00 | 0.12 | 0.11 | 0.11 | |||||
| Income, $m | |||||||||||||||
| Income, $m | Revenue | — | — | — | — | — | — | 18 | 18 | 16 | 19 | ||||
| Gross margin, % | — | — | — | — | — | — | 94.01 | 94.01 | 93.48 | 91.00 | |||||
| EBT | — | — | — | — | — | — | 6 | (10) | 3 | 3 | |||||
| EBT margin, % | — | — | — | — | — | — | 31.34 | 0.00 | 20.18 | 18.15 | |||||
| Net income | — | — | — | — | — | — | 0 | 0 | 2 | 5 | |||||
| Depreciation | — | — | — | — | — | — | — | 1 | 1 | 0 | |||||
| Per share, $ | |||||||||||||||
| Per share, $ | Revenue | — | — | — | — | — | — | 0.00 | 1.43 | 1.27 | 1.38 | ||||
| Earnings | — | — | — | — | — | — | — | 0.34 | 0.15 | 0.36 | |||||
| Cash flow | — | — | — | — | — | — | — | (0.03) | (0.04) | (0.06) | |||||
| Capex | — | — | — | — | — | — | — | 0.00 | 0.00 | 0.00 | |||||
| Free cash flow | — | — | — | — | — | — | — | (0.03) | (0.04) | (0.06) | |||||
| Book value | — | — | — | — | — | — | 0.00 | 1.13 | 1.24 | 1.82 | |||||
| Shares, m | — | — | — | — | — | — | — | 12 | 13 | 14 | |||||
| Valuation, × | |||||||||||||||
| Valuation, × | P/E | — | — | — | — | — | — | 85.58 | 85.58 | 85.58 | 6.84 | ||||
| P/S | — | — | — | — | — | — | 10.26 | 10.26 | 10.26 | 1.76 | |||||
| P/B | — | — | — | — | — | — | 10.50 | 10.50 | 10.50 | 1.34 | |||||
| EV/Sales | — | — | — | — | — | — | 10.37 | 10.37 | 10.37 | 1.71 | |||||
| EV/FCF | — | — | — | — | — | — | (324.28) | (324.28) | (324.28) | (39.49) | |||||
| Cash, $m | |||||||||||||||
| Cash, $m | Operating cash flow | — | — | — | — | — | — | — | 0 | (1) | (1) | ||||
| Capex | — | — | — | — | — | — | — | 0 | 0 | 0 | |||||
| Free cash flow | — | — | — | — | — | — | — | 0 | (1) | (1) | |||||
| Balance, $m | |||||||||||||||
| Balance, $m | Working capital | — | — | — | — | — | — | 5 | 9 | 6 | 12 | ||||
| Total debt | — | — | — | — | — | — | 3 | 3 | 5 | 4 | |||||
| Net debt | — | — | — | — | — | — | 1 | 1 | 2 | (1) | |||||
| Shareholders’ equity | — | — | — | — | — | — | 14 | 14 | 16 | 25 | |||||
| Returns, % | |||||||||||||||
| Returns, % | ROA | — | — | — | — | — | — | 0.00 | 0.09 | 10.56 | 15.83 | ||||
| ROIC | — | — | — | — | — | — | 22.83 | 0.00 | 12.30 | 9.26 | |||||
| ROE | — | — | — | — | — | — | 0.00 | 0.00 | 13.12 | 24.16 | |||||
Negative figures in brackets.
Fiscal years to Mar 2026 · latest quarter Jun 2026
Charts ten years each
FatPipe, Inc. vs peers in Software Infrastructure (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| DAVA Endava PLC Sponsored ADR | $87.9M | — (loss-making) | — (loss-making) | +17.21% (above 0%: growing) | n/m | −136.07% (below 0%: shrinking) | 18.60% | (207.59%) | Compare |
| USIO Usio Inc | $81.4M | — (loss-making) | — (loss-making) | +18.62% (above 0%: growing) | n/m | −56.12% (below 0%: shrinking) | 24.18% | 1.59% | Compare |
| VIVO Vivopower International Plc | $75.4M | — (loss-making) | — (loss-making) | −64.36% (below 0%: shrinking) | −30.77% (below 0%: shrinking) | −632.75% (below 0%: shrinking) | 7.63% | 0.00% | Compare |
| AISP Airship AI Holdings, Inc. | $72.7M | 2.5× | — (loss-making) | +92.08% (above 0%: growing) | n/m | +87.08% (above 0%: growing) | 75.12% | (36.15%) | Compare |
| ATGL Alpha Technology Group Limited | $72.4M | — | — | — | — | — | — | — | Compare |
| FATN FatPipe, Inc. | $70.5M | 12.6× | 15.5× | +27.84% (above 0%: growing) | +80.00% (above 0%: growing) | −24.05% (below 0%: shrinking) | 92.25% | 17.92% | |
| VERI Veritone, Inc. | $67.5M | — (loss-making) | — (loss-making) | +4.61% (above 0%: growing) | n/m | −31.94% (below 0%: shrinking) | 63.70% | (91.23%) | Compare |
| AILEQ iLearningEngines, Inc. | $59.3M | — (loss-making) | — | — | n/m | −56.61% (below 0%: shrinking) | 69.13% | (62.87%) | Compare |
| AIFC AI Financial Corporation | $55.2M | — (loss-making) | — (loss-making) | −62.15% (below 0%: shrinking) | n/m | −16.14% (below 0%: shrinking) | 97.56% | (29.33%) | Compare |
| Median of peers | $72.5M | — | — | +10.91% | — | −56.12% | 63.70% | (36.15%) |
FatPipe, Inc. (FATN) key facts
- FatPipe, Inc. (FATN) is a Software Infrastructure company in the Technology sector, listed on Nasdaq.
- As of October 16, 2026, FATN traded at $5.00, a market capitalization of $70.5 million.
- Return on equity was 24.2% and debt-to-equity 0.16.
- Its Piotroski F-score is 4 out of 9 and its Altman Z-score is 4.16 (safe zone) for fiscal 2026.
FatPipe, Inc. (FATN) Latest News
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