Fatpipe Inc/UT
FATN · Services-Prepackaged Software · 14.0M shares · +3%/yr ↑ shares · EDGAR filings ↗
Reference price $1.45 · est. market cap ~$20M — last insider purchase, 2026-03-03 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
B70SD-WAN / networking-software company — profitable with strong margins, though slightly free-cash-flow negative.
Strengths
- Profitable with strong margins — operating margin 19% (81st), net margin 26% (91st), ROA 14% (91st)
- Strong coverage and liquidity — interest coverage 8.9 (62nd), current ratio 3.9 (86th)
Risks
- Slightly negative free cash flow — FCF -$0.8M (11th)
- Micro-cap scale/competition risk — per 10-K
- Customer-concentration risk — per 10-K
Notable findings
- Cash burnNegative free cash flow (-0.8M)
- Notable holderHeld by 2 notable fund(s): CITADEL ADVISORS LLC, RENAISSANCE TECHNOLOGIES LLC (as of 2025-12-31)
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
91.0%
Operating margin
18.7%
Net margin
25.9%
Return on equity
19.7%
Return on assets
14.4%
ROIC
9.5%
Revenue growth (QoQ)
76.8%
Net-income growth
152.7%
Debt / equity
0.2×
Interest coverage
8.9×
Current ratio
3.9×
Free cash flow
-$833K
EBITDA
$4M
Tangible book value
$25M
Stock comp / revenue
4.0%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-18 | Majumder I. Bobby | Grant | 1.0K | — |
| 2026-06-18 | Majumder I. Bobby | Grant | 1.0K | — |
| 2026-03-03 | Bhaskar Ragula | Buy | 20K | $1.45 |
| 2025-01-15 | Datta Sanchaita | Buy | 500 | $2.15 |
| 2025-01-15 | Datta Sanchaita | Buy | 500 | $2.17 |
| 2025-01-15 | Datta Sanchaita | Buy | 1.0K | $2.13 |
| 2025-01-14 | Datta Sanchaita | Buy | 500 | $2.13 |
| 2025-01-14 | Datta Sanchaita | Buy | 500 | $2.12 |
| 2025-01-13 | Datta Sanchaita | Buy | 500 | $2.13 |
| 2025-01-13 | Datta Sanchaita | Buy | 500 | $2.15 |
| 2025-01-13 | Datta Sanchaita | Buy | 500 | $2.14 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 10-K | 2026-05-18 | 2026-03-31 | 0001493152-26-024184 ↗ |
| 8-K | 2026-05-18 | 2026-05-18 | 0001493152-26-024173 ↗ |
| 8-K | 2026-04-30 | 2026-04-30 | 0001493152-26-020015 ↗ |
| 8-K | 2026-03-05 | 2026-03-05 | 0001493152-26-008967 ↗ |
| 10-Q | 2026-02-02 | 2025-12-31 | 0001493152-26-004738 ↗ |
| 10-Q | 2025-11-03 | 2025-09-30 | 0001493152-25-020604 ↗ |
| 10-Q | 2025-07-30 | 2025-06-30 | 0001641172-25-021487 ↗ |
| 10-K | 2025-06-30 | 2025-03-31 | 0001641172-25-017162 ↗ |
| 8-K | 2025-04-29 | 2025-04-24 | 0001641172-25-006603 ↗ |
| 8-K | 2025-04-11 | 2025-04-07 | 0001641172-25-003850 ↗ |