Fatpipe Inc/UT FATN
is a leading developer of enterprise-class, application-aware, secure SD-WAN solutions and integrated single-stack cybersecurity solutions
for organizations, including enterprises, communication service providers, security service providers, government organizations, and
other middle-market companies.
strive to be the global leader in delivering leading-edge enterprise-class networking software technology. We are dedicated to continually
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Revenue | $19.2M | $16.3M | $17.9M | — |
| Cost of revenue | $1.7M | $1.1M | $1.1M | — |
| Gross profit | $17.5M | $15.2M | $16.8M | — |
| R&D | $1.9M | $1.8M | — | — |
| SG&A | $4.8M | $3.4M | $3.2M | — |
| Total operating expenses | $13.9M | $11.8M | $11.2M | — |
| Operating income | $3.6M | $3.5M | $5.6M | — |
| Interest expense | $403.4K | $329.9K | $302.1K | — |
| Pre-tax income | $3.5M | $3.3M | $5.6M | — |
| Income tax | $1.5M | $1.3M | $1.4M | — |
| Net income | $5.0M | $2.0M | $4.4M | — |
| EPS, basic | 0.36 | 0.15 | 0.35 | — |
| EPS, diluted | 0.35 | 0.15 | 0.35 | — |
| Shares, diluted (wtd. avg.) | $14.0M | $12.9M | $12.4M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Cash and equivalents | $5.2M | $2.9M | $1.1M | $1.1M |
| Receivables | $4.3M | $3.8M | $3.2M | — |
| Inventory | $445.8K | $419.7K | $113.5K | — |
| Total current assets | $16.5M | $13.0M | $9.3M | — |
| Property, plant and equipment | $95.5K | $57.8K | $75.5K | — |
| Other intangibles | $694.2K | $1.0M | $1.6M | — |
| Total assets | $34.5M | $28.3M | $21.4M | — |
| Accounts payable | $390.2K | $437.3K | $417.5K | — |
| Short-term debt | $391.4K | $329.8K | — | — |
| Total current liabilities | $4.3M | $6.5M | $4.7M | — |
| Long-term debt | $4.6M | $5.0M | — | — |
| Total liabilities | $9.3M | $12.4M | $7.4M | — |
| Retained earnings | $16.1M | $11.1M | $9.0M | — |
| Total equity | $25.2M | $15.9M | $14.1M | $9.6M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Operating cash flow | -$780.4K | -$504.1K | -$363.4K | — |
| Depreciation and amortisation | $369.2K | $545.7K | $699.3K | — |
| Stock-based compensation | $770.2K | — | — | — |
| Capital expenditure | $52.5K | $19.8K | $19.2K | — |
| Investing cash flow | -$52.5K | -$19.8K | -$19.2K | — |
| Financing cash flow | $3.3M | $2.5M | $205.7K | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001493152-26-024184.
Others in SIC 7372
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| MSFT | MICROSOFT CORP | $3.71T | 27.8x | 17.8% |
| ORCL | ORACLE CORP | $457.36B | 27.2x | 17.3% |
| PLTR | Palantir Technologies Inc. | $418.36B | 276.7x | 56.2% |
| CRWD | CrowdStrike Holdings, Inc. | $218.20B | — | 21.7% |
| CRM | Salesforce, Inc. | $213.35B | 33.2x | 9.6% |
| SHOP | SHOPIFY INC. | $187.92B | 154.4x | 30.1% |
| NOW | ServiceNow, Inc. | $146.06B | 84.6x | 20.9% |
| SNOW | Snowflake Inc. | $118.96B | — | 29.2% |