Fatpipe Inc/UT FATN

Services-Prepackaged Software · CIK 0001993400 · Fiscal year ends 0331

AnnualQuarterly TTM

Revenue

$19.21M

Fiscal year ended 2026-03-31

Operating income

$3.59M

Fiscal year ended 2026-03-31

Free cash flow

-$832.88K

Fiscal year ended 2026-03-31

Valuation, from the filing

Public float	$41.80M	Market value of stock held by non-affiliates, as stated on the cover page for 2025-09-30
Float per share	$2.98	Float divided by shares outstanding in the same filing. A floor under the share price on that date, not the price itself.
Float / net income	8.4×	A lower bound on the multiple, because affiliate holdings are excluded.
Float / revenue	2.2×	A lower bound on the multiple, because affiliate holdings are excluded.
Float / equity	1.7×	A lower bound on the multiple, because affiliate holdings are excluded.

Every figure here is drawn from the 10-K cover page and the statements behind it, so each one traces to a filing. Public float counts only stock held by non-affiliates, which makes these floors rather than estimates: a high multiple is conclusive, a low one may mean cheap or may mean closely held. The float was measured on 2025-09-30, not today, and each multiple below it uses the figures for the fiscal year ending 2026-03-31 — the year that filing covered.

How this compares in its industry

Percentile among the Services-Prepackaged Software filers on this site, highest value first. A high percentile means a large figure, which is good for a margin and not for leverage — the ranking says where the company sits, not whether that is where it should be.

Measure	Reported	Percentile
Gross margin	91.0%	98th
Net margin	25.9%	93th
Effective tax rate	-42.6%	9th
SBC / revenue	4.0%	13th
Operating margin	18.7%	87th
Current ratio	3.85x	87th
R&D / revenue	9.9%	14th
CapEx / revenue	0.3%	16th
FCF margin	-4.3%	20th
Revenue YoY growth	17.9%	68th

Fatpipe Inc/UT (FATN) reported revenue of $19.21M and net income of $4.97M for the fiscal year ended 2026-03-31. This page shows 3 annual periods of income statement, balance sheet and cash flow figures normalized from Fatpipe Inc/UT’s SEC filings, each linked to the filing it came from. It is classified by the SEC under Services-Prepackaged Software.

Income

Fatpipe Inc/UT income by fiscal year, in US dollars, normalized from SEC filings.
Metric	2026-03-31	2025-03-31	2024-03-31
Revenue	$19.21M	$16.29M	$17.86M
Cost of revenue	$1.73M	$1.06M	$1.07M
Gross profit	$17.48M	$15.23M	$16.79M
Operating income	$3.59M	$3.47M	$5.64M
Net income	$4.97M	$1.97M	$4.37M
Research & development	$1.91M	$1.79M	Unavailable
Weighted-average diluted shares	shares 14.01M	shares 12.86M	shares 12.45M
Pretax income	$3.49M	$3.29M	$5.60M
Income tax expense	-$1.48M	$1.29M	$1.44M
Diluted EPS	$0.35	$0.15	$0.35
Selling, general & administrative	$9.55M	$7.18M	$6.55M
General & administrative	$4.76M	$3.42M	$3.15M
Selling & marketing	$4.79M	$3.75M	$3.40M

Balance

Fatpipe Inc/UT balance by fiscal year, in US dollars, normalized from SEC filings.
Metric	2026-03-31	2025-03-31	2024-03-31
Cash & equivalents	Unavailable	$2.92M	$1.11M
Total assets	$34.52M	$28.29M	$21.44M
Current assets	$16.46M	$12.96M	$9.34M
Total liabilities	$9.31M	$12.36M	$7.39M
Current liabilities	$4.27M	$6.49M	$4.72M
Total equity incl. NCI	$25.22M	$15.93M	$14.05M
Temporary (mezzanine) equity	Unavailable	Unavailable	Unavailable
Inventory	$445.84K	$419.68K	$113.52K
Accounts receivable	$4.30M	$3.76M	$3.16M
Goodwill	Unavailable	Unavailable	Unavailable
Long-term debt	$4.62M	$4.97M	Unavailable
Accounts payable	$390.17K	$437.25K	$417.53K

Cash flow

Fatpipe Inc/UT cash flow by fiscal year, in US dollars, normalized from SEC filings.
Metric	2026-03-31	2025-03-31	2024-03-31
Operating cash flow	-$780.39K	-$504.12K	-$363.42K
Capital expenditures	$52.48K	$19.76K	$19.19K
Investing cash flow	-$52.48K	-$19.76K	-$19.19K
Financing cash flow	$3.32M	$2.49M	$205.68K
Net change in cash	$2.29M	$1.81M	$35.02K
Stock-based compensation	$770.22K	Unavailable	Unavailable
Common dividends paid	Unavailable	Unavailable	Unavailable
Common share repurchases	Unavailable	Unavailable	Unavailable
Depreciation & amortization	$369.25K	$545.71K	$699.26K

Derived

Fatpipe Inc/UT derived by fiscal year, in US dollars, normalized from SEC filings.
Metric	2026-03-31	2025-03-31	2024-03-31
Free cash flow	-$832.88K	-$523.89K	-$382.61K
Gross margin	91.0%	93.5%	94.0%
Operating margin	18.7%	21.3%	31.6%
FCF margin	-4.3%	-3.2%	-2.1%
SBC / revenue	4.0%	Unavailable	Unavailable
Current ratio	3.85x	2.00x	1.98x
Revenue YoY growth	17.9%	-8.8%	Unavailable
Net margin	25.9%	12.1%	24.4%
R&D / revenue	9.9%	11.0%	Unavailable
CapEx / revenue	0.3%	0.1%	0.1%
Long-term debt / equity	Unavailable	Unavailable	Unavailable
Effective tax rate	-42.6%	39.4%	25.7%

Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open FATN in the interactive workspace to inspect any figure back to its filing.

Source filings

10-Q · Filed 2026-07-30View SEC filing

10-K · Filed 2026-05-18View SEC filing

10-Q · Filed 2026-02-02View SEC filing

10-Q · Filed 2025-11-03View SEC filing

10-Q · Filed 2025-07-30View SEC filing

10-K · Filed 2025-06-30View SEC filing

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Every accounting identity this site checks — the balance sheet, the gross profit bridge and the cash flow statement — reconciles in every period shown.