“Operating Results Operating results reflect the income from operations derived from the sale of our software solutions and services with adjustments for non-operating income and expenses such as interest expense, interest income, and foreign exchange losses/g…”10-K · May 18, 2026 ↗
FatPipe, Inc.
FATN
Market read
FatPipe, Inc.'s move is spreading beyond its market group.
No new filing conclusion is available. 6 of 16 group members are active now; 1 filing-linked outsider is moving with the group, and 0 of 1 directly disclosed connection is confirming.
- At least 11 of 16 durable members become active together.
- Capital-flow agreement rises above 55%.
- KEEL remains aligned with the group in the next market snapshot.
Invalidation: The live read weakens if participation falls to 5 of 16 members or fewer.
Research brief
The story so far
No new filing conclusion is available. 6 of 16 group members are active now; 1 filing-linked outsider is moving with the group, and 0 of 1 directly disclosed connection is confirming.
No thresholded supportive filing evidence is available yet.
No thresholded adverse filing evidence is available yet.
- At least 11 of 16 durable members become active together.
- Capital-flow agreement rises above 55%.
- KEEL remains aligned with the group in the next market snapshot.
Company research
Understand the business, not just the ticker
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
- Latest annual revenue changed +17.9% year over year.
- Net margin changed +13.8 percentage points in the latest annual period.
- Operating margin changed -2.6 percentage points in the latest annual period.
- Diluted shares increased 8.9% in the latest annual period.
- Operating cash flow was only -0.157x net income in the latest annual period.
- P/E is 69% below the available filing-peer median; determine whether growth and quality justify the difference.
- EV/sales is 66% below the available filing-peer median; determine whether growth and quality justify the difference.
Price as of Sep 10, 2026
5.87Reported annual revenue and per-share history. This is accounting history, not a forecast.
What management says matters
Persistent and emerging business drivers
“Operating Results Operating results reflect the income from operations derived from the sale of our software solutions and services with adjustments for non-operating income and expenses such as interest expense, interest income, and foreign exchange losses/g…”10-K · May 18, 2026 ↗
“The change reflects increased costs of operating as a public company, including the recognition of $770,220 of stock-based compensation expense and Impairment of contract assets of $664,217, professional fees, and ongoing public-company compliance costs, part…”10-K · May 18, 2026 ↗
“During the fiscal year ended March 31, 2026, in connection with assessment under ASC 326, the Company recognized an impairment of contract assets of $ 916,419 reflecting a reserve on expected collections on overall contracts.”10-K · May 18, 2026 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 4.3× · EV/sales 4.5×. Comparisons use only industry-matched filing peers.
Fewer than 4 annual revenue periods; too little history to scaffold scenarios.
Price action
How the market is pricing the story
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for FATN. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Filing analysis
No comparable filing assessment is available yet
Jodie has not yet found a suitable current-versus-prior filing comparison for FATN. This does not mean the latest filing was neutral or immaterial.
Business ecosystem
The relationships behind FATN
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
AMZNAmazon.com, Inc.supplierFeb 2, 2026 ▾
“The costs of revenue include all costs associated with network server components as well as costs associated with providing services to our customers, including costs associated with hosting our services through Amazon Web Services.”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
FATN is currently a Participant in the organic co-movement group High-Performance Computing. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 1 filing-linked name are in the relationship map; none is currently confirmed as moving with the group.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.