FatPipe, Inc. most recently reported annual revenue of $19.0M, net profit of $5.0M. Revenue grew at an average annual rate of 12.2% over the last 4 fiscal years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.
FatPipe, Inc.: Revenue rose from $12.0M in 2021 to $19.0M in 2025, a change of +58.3% over 4 years; net profit was positive in 4 of 5 reported years; operating margin moved from -1.8% to 18.7%, a shift of +20.5 percentage points; the most recent year shows net profit of $5.0M.
Income Statement — 5 Years (USD millions)
Metric
2021
2022
2023
2024
2025
Revenue
$12.0M
$16.0M
$18.0M
$16.0M
$19.0M
Operating Expenses
$13.0M
$13.0M
$12.0M
$13.0M
$16.0M
Operating Profit
$0
$3.0M
$6.0M
$3.0M
$4.0M
Operating Margin
-1.8%
20.5%
31.6%
21.3%
18.7%
Other Income
$1.0M
$0
$0
$0
$0
Interest
$0
$0
$0
$0
$0
Depreciation
$1.0M
$1.0M
$1.0M
$1.0M
$0
Profit Before Tax
$0
$3.0M
$6.0M
$3.0M
$3.0M
Tax
$6.7M
$8.1M
$23.6M
$40.6M
$-42.5M
Net Profit
$0
$3.0M
$4.0M
$2.0M
$5.0M
EPS
$0.04
$0.21
$0.32
$0.15
$0.35
Dividend Payout
0.0%
0.0%
0.0%
0.0%
0.0%
Quarterly Results — Last 11 Quarters (USD millions)
Metric
Dec '23
Mar '24
Jun '24
Sep '24
Dec '24
Mar '25
Jun '25
Sep '25
Dec '25
Mar '26
Jun '26
Revenue
$4.0M
$5.0M
$4.0M
$4.0M
$3.0M
$3.0M
$4.0M
$4.0M
$4.0M
$7.0M
$5.0M
Operating Expenses
$3.0M
$3.0M
$3.0M
$3.0M
$3.0M
$3.0M
$3.0M
$4.0M
$4.0M
$5.0M
$4.0M
Operating Profit
$1.0M
$2.0M
$1.0M
$1.0M
$0
$0
$1.0M
$0
$0
$2.0M
$1.0M
Operating Margin
25.6%
44.3%
22.9%
22.9%
5.9%
5.9%
25.5%
-0.0%
9.8%
30.2%
17.9%
Interest
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Profit Before Tax
$1.0M
$3.0M
$1.0M
$1.0M
$0
$0
$1.0M
$0
$0
$2.0M
$1.0M
Tax
$40.1M
$9.2M
$21.1M
$21.1M
$41.6M
$41.6M
$22.5M
$22.5M
$22.5M
$-81.3M
$-43.4M
Net Profit
$1.0M
$2.0M
$1.0M
$1.0M
$0
$0
$1.0M
$0
$0
$4.0M
$1.0M
EPS
$0.04
$0.17
$0.05
$0.05
$0.01
$0.01
$0.05
$0.00
$0.02
$0.28
$0.09
Over the 5 years reported for FatPipe, Inc., borrowings increased from $1.0M in 2021 to $6.0M in 2025, cash stood at $5.0M in the latest year, shareholders' equity was $0, current assets covered current liabilities 4.00 times.
Balance Sheet — 5 Years (USD millions)
Metric
2021
2022
2023
2024
2025
Total Assets
$11.0M
$16.0M
$21.0M
$28.0M
$35.0M
Current Assets
$6.0M
$7.0M
$9.0M
$13.0M
$16.0M
Cash
$1.0M
$1.0M
$1.0M
$3.0M
$5.0M
Inventory
$1.0M
$0
$0
$0
$0
Receivables
$4.0M
$5.0M
$8.0M
$9.0M
$11.0M
Fixed Assets
$0
$1.0M
$0
$2.0M
$1.0M
Capital Work in Progress
$0
$0
$0
$0
$0
Investments
$0
$0
$0
$0
$16.0M
Other Assets
$0
$0
$0
$0
$0
Total Liabilities
$4.0M
$6.0M
$7.0M
$12.0M
$9.0M
Current Liabilities
$3.0M
$4.0M
$5.0M
$6.0M
$4.0M
Borrowings
$1.0M
$3.0M
$3.0M
$7.0M
$6.0M
Other Liabilities
$3.0M
$4.0M
$5.0M
$6.0M
$4.0M
Equity
$0
$0
$0
$0
$0
Reserves
$7.0M
$9.0M
$14.0M
$16.0M
$25.0M
For FatPipe, Inc., operating cash flow was positive in 0 of 5 reported years; free cash flow in the latest year was negative at $1.0M; free cash flow was positive in 0 of 5 years.
Cash Flow Statement — 5 Years (USD millions)
Metric
2021
2022
2023
2024
2025
Operating Cash Flow
$0
$-2.0M
$0
$-1.0M
$-1.0M
Investing Cash Flow
$0
$0
$0
$0
$0
Financing Cash Flow
$0
$0
$0
$0
$0
Net Cash Flow
$-1.0M
$0
$0
$2.0M
$2.0M
Free Cash Flow
$0
$-2.0M
$0
$-1.0M
$-1.0M
Valuation & Return Ratios
Metric
Value
PEG Ratio
0.06
EV / EBITDA
18.92
FCF Yield
-1.23%
Quick Ratio
3.79
Interest Coverage
6.97
Return 1Y
-39.64%
Return 3Y
—
Return 5Y
—
FatPipe, Inc. (FATN) financials — frequently asked questions
What is FatPipe, Inc.'s annual revenue?
FatPipe, Inc. (FATN) reported annual revenue of $19.0M in its most recent fiscal year.
What is FatPipe, Inc.'s net profit?
FatPipe, Inc. (FATN) reported net profit of $5.0M in its most recent fiscal year.
What is FATN EV/EBITDA?
FatPipe, Inc.'s enterprise value to EBITDA (EV/EBITDA) ratio is 18.92.