FatPipe, Inc. (FATN) AI Stock Analysis

FatPipe, Inc. develops application-aware, secure software-defined wide area network (SD-WAN), secure access service edge (SASE), and network monitoring service (NMS) software solutions in the United States, India, and internationally. Its SD-WAN architecture enhances the performance, security, and manageability of enterprise networks connecting offices, data centers, and cloud resources. SASE combines networking and security into a cloud-delivered solution, while NMS provides an EnterpriseView reporting system to monitor network performance. The company also offers technical support, professional, development, cybersecurity, and training services, selling subscriptions through distributors, value-added resellers, and internet service providers.

FatPipe delivered a 4-year revenue CAGR of 11.6% from FY2022 to FY2026. Annual revenue expanded from $12.4M in FY2022 to $17.9M in FY2024, declined 8.8% to $16.3M in FY2025, and rebounded 17.9% to $19.2M in FY2026. Gross margin remained high across this period, registering at 91.0% in FY2026. Net income reached $5.0M in FY2026, up from $2.0M in FY2025 and $483,731 in FY2022. Operating margin was 18.7% in FY2026, compared to a negative 1.8% in FY2022. For the latest quarter ended June 30, 2026, quarterly revenue grew 27.8% year-over-year, and quarterly earnings grew 74.0%.

As of June 30, 2026, FatPipe held $4.3M in cash and short-term investments and $5.6M in total debt, resulting in net debt of $1.3M. Total assets stood at $35.5M against shareholders' equity of $26.5M. The company maintains a current ratio of 3.98 and a debt-to-equity ratio of 0.21. Operating cash flow has remained negative each year, recording -$780,393 in FY2026 alongside capital expenditures of $52,483, leading to free cash flow of -$832,876.

At $5.00 per share, FatPipe has a market cap of $70.6M and an enterprise value of $75.7M. Its trailing P/E of 12.8x and forward P/E of 11.2x sit below the median of its US-listed Technology peers (28.1x trailing and 18.8x forward). However, its EV/EBITDA of 18.0x and price-to-sales ratio of 3.5x trade above peer medians of 16.6x and 2.8x, respectively. The stock's 1-year return of 16.8% matched the S&P 500 (SPY) return of 16.8%, while its year-to-date return reached 147.5%.

Wall Street coverage includes 3 Strong Buy ratings, 0 Buys, and 0 Holds or Sells. The mean price target is $10.00, representing a 100.0% premium over the last close of $5.00. For the fiscal year ending March 31, 2027, analysts project revenue of $22.8M and EPS of $0.44. For the following fiscal year, 4 analysts estimate revenue of $28.0M and EPS of $0.52. FatPipe has beaten EPS estimates in 3 of the last 4 quarters, with its next earnings date scheduled for November 2, 2026.

This page is an AI-written research summary of FatPipe, Inc. (FATN). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

Related: FATN income statement, FATN balance sheet, FATN key metrics, FATN analyst forecast, FATN chart. See the FATN stock overview for the latest quote and news.