UNITED STATES SECURITIES AND EXCHANGE COMMISSION (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from: _____________to______________ Commission File Number: 001-42546 FATPIPE, INC. (Exact name of registrant as specified in its charter) Washington, D.C. 20549 FORM 10-Q Indicate by check mar ...

SALT LAKE CITY, UTAH / ACCESS Newswire / February 2, 2026 / FatPipe, Inc. (NASDAQ:FATN) ("FatPipe" or the "Company"), a pioneer and multiple patents holder in enterprise-class, application-aware, secure software-defined wide area network ("SD-WAN") and single-stack cybersecurity solutions, today announced its third quarter fiscal year 2026 results for the period ended December 31, 2025. Q3 Highlights Total revenue, including professional services, was $4.1 million, representing 30% growth compared to the th ...

SALT LAKE CITY, UTAH / ACCESS Newswire / January 28, 2026 / FatPipe, Inc. (NASDAQ:FATN) ("FatPipe" or the "Company"), a pioneer in enterprise-class software-defined wide area networking and cybersecurity solutions, today announced that it will host an investor webinar to present its financial results for the third quarter of fiscal year 2026. The investor webinar will be held on February 2, 2026, from 4:15 PM to 4:45 PM Eastern Time. ...

Core Insights - FatPipe, Inc. has been recognized as 1 for Product and 1 for Support in the 2026 SD-WAN Midmarket Report by Info-Tech Research Group [1] Company Overview - FatPipe, Inc. specializes in enterprise-class, application-aware, secure Software-Defined Wide Area Network (SD-WAN) solutions [1] - The company's solutions are designed to provide high levels of reliability, security, and optimization for Wide Area Networks (WANs) [1] Industry Recognition - The rankings in the report are based on user reviews collected from the SoftwareReviews platform, which is a leading source for insights on the software provider landscape [1]

Core Viewpoint - Recent service disruptions of Waymo autonomous vehicles in San Francisco highlight the critical challenge of reliance on a single network or network access technology in autonomous mobility [1] Group 1: Service Disruptions - Waymo vehicles faced difficulties in maintaining reliable 5G connectivity during a widespread power and infrastructure outage [1] - The disruptions led to service pauses and stalled operations for Waymo vehicles [1]

Core Insights - FatPipe, Inc. is hosting a webinar on December 16, 2025, to discuss its leadership in the SD-WAN market and its subscription-based software model [1][2] Company Overview - FatPipe is a pioneer in software-defined wide area networking (SD-WAN) solutions, focusing on reliability, security, and optimization for WANs [1][6] - The company has over 2,500 enterprise customers across various sectors, including government, healthcare, and finance [3] - FatPipe's technology ensures secure and uninterrupted connectivity in complex IT environments [3] Financial Performance - The company boasts a robust recurring revenue model with gross margins exceeding 90% and a net margin of 24.4% in fiscal 2024, indicating strong profitability and capital efficiency [3] - FatPipe's market is projected to exceed $49 billion by 2030, highlighting significant growth potential [3] Product and Innovation - In May 2025, FatPipe launched Total Security 360, a comprehensive cybersecurity and network security solution [6] - The company holds 12 U.S. patents related to multipath, software-defined networking, showcasing its innovation in the field [6] Market Positioning - FatPipe is positioned at the intersection of SD-WAN, SASE, and network monitoring, which enhances its competitive edge in the software-defined networking market [3] - The company has established long-term reseller partnerships and is expanding its global footprint, further solidifying its market presence [3]

Core Insights - FatPipe, Inc. is a pioneer in enterprise-class, application-aware, secure software-defined wide area network (SD-WAN) solutions, focusing on reliability, security, and optimization for Wide Area Networks (WANs) and cybersecurity solutions [1] Company Performance - Following a successful IPO earlier in the year, FatPipe's stock has faced downward pressure due to the expiration of the initial shareholder lockup period [1]

Core Insights - FatPipe, Inc. reported a 49% growth in Monthly Recurring Billings from Q2 FY2025 to Q2 FY2026 [1] - The company's sales headcount nearly tripled during the same period [1] Financial Performance - Total revenue for Q2 FY2026 was $4.0 million, a slight increase from $3.9 million in Q1 FY2026 [1] - The revenue includes professional services, indicating a stable growth trajectory [1]

Market Growth Projections - The SD-WAN market is estimated to be approximately $4.5 billion in 2023, projected to grow to over $17.6 billion by 2030, with a CAGR of 18% in North America and over 60% in APAC[122]. - SASE software and platform revenues are expected to grow from $6.4 billion in 2022 to $27.2 billion by 2030, resulting in a CAGR of almost 20%[123]. - The NMS market is projected to grow at a CAGR of 10% from 2022 to 2030, with total revenues estimated at $2.0 billion in 2022, growing to approximately $4.4 billion[124]. - The global cybersecurity market was valued at approximately $245.6 billion in 2024 and is projected to reach about $500.7 billion by 2030, corresponding to a CAGR of roughly 12.9%[125]. Company Strategy and Operations - The company plans to expand its presence in North America and Southeast Asia, with specific strategies for Mexico and Asian markets[117]. - FatPipe holds over a dozen software and technology patents to support its integrated suite of software solutions[116]. - The company aims to enhance its product pipeline with new SD-WAN security features and single-stack cybersecurity capabilities[126]. - FatPipe's software solutions are delivered as subscription services, with customer contracts typically ranging from 36 to 60 months[128]. Financial Performance - For the three months ended September 30, 2025, net revenue was $3,959,231, a decrease of $1,636,345, or 29%, from the prior period due to two large contracts in Q2 2025[136]. - Cost of revenue for the same period was $312,904, an increase of $83,589, or 36%, attributed to rising input costs due to macroeconomic factors[137]. - Gross profit decreased to $3,646,327, down $1,719,934, or 32%, with a gross margin of 92%, down from 96% in the prior period[138]. - Sales and marketing expenses increased to $1,202,636, an increase of $283,244, or 31%, due to scaling sales headcount for long-term growth[139]. - General and administrative expenses rose to $1,392,675, an increase of $208,879, primarily due to $625,220 in non-cash stock-based compensation[140]. - Product development expenses were $489,157, an increase of $53,755, as the company continued its development plans for cybersecurity and satellite products[141]. - For the six months ended September 30, 2025, net income attributable to stockholders was $697,808, a decrease of $1,538,917, or 69%, from the prior period[146]. - Net income for the six months ended September 30, 2025, was $697,810, a decrease of 68.8% compared to $2,236,725 for the same period in 2024[172]. - Adjusted EBITDA for the six months ended September 30, 2025, was $1,914,545, down $345,933 from $2,260,478 in the prior year, with an adjusted EBITDA margin of 24%[171]. Cash Flow and Financing - Net cash used in operating activities was $108,769 for the six months ended September 30, 2025, an improvement from $204,175 in the prior period[167]. - Net cash provided by financing activities was $3,581,185, primarily driven by $3,867,472 from the April 2025 IPO[169]. - The company expanded its sales team from 8 to 25 salespeople post-IPO to enhance its market presence[177]. - Net cash used in investing activities was $35,447, up from $12,228 in the prior period, mainly due to office improvement purchases[168]. - Cash and cash equivalents at the end of the period were $6,229,021, significantly up from $845,850 at the end of the prior period[166]. - The company reported a stock-based compensation expense of $625,220 in the three months ended September 30, 2025[172]. - The company did not have any off-balance sheet arrangements during the years presented[178]. Cost and Margin Expectations - The company expects lower gross margins in the India and South Asian markets, offset by lower costs of sales due to lower wages in those regions[161]. - Interest income was $42,949, compared to a loss of $15,576 in the prior period, reflecting funds raised from the IPO[144].

Core Insights - FatPipe, Inc. has successfully completed a significant SD-WAN rollout for a large U.S. school district, encompassing over 210 sites under a contract valued at $1.4 million [1] Company Summary - The project integrates all campuses, administrative offices, and data centers into a unified FatPipe SD-WAN architecture [1] - The SD-WAN design aims to ensure reliable connectivity for various functions including instruction, testing, voice, and video [1]