FatPipe, Inc. Common Stock (FATN) is a Technology stock trading at $6.43 (as of 2026-08-21), with a market capitalization of $86.89M and a trailing P/E of 38.9. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.
FatPipe, Inc. develops secure software-defined wide area network (SD-WAN), secure access service edge (SASE), and network monitoring service (NMS) software solutions for organizations in the United States and internationally. The company offers SD-WAN, a network architecture solution that allows enterprises to utilize software and virtualization technologies to enhance the performance, security, and manageability of their WANs that connect offices, data centers, cloud applications, and cloud storage; SASE that provides virtual network and next generation security functions, which combine networking and next generation network security services into a single cloud-delivered solution; and NMS, a EnterpriseView reporting system for network monitoring that provides a platform to monitor an end-user's WAN, security compliance parameters, and the performance of FatPipe devices under management. It also provides technical support services, which includes implementation, configuration, and training services. The company offers its solutions to enterprises, communication service providers, security service providers, government organizations, and other middle-market companies. It sells its software solutions through a subscription-based model through a network of distributors, value-added resellers, internet service providers, and other third parties. The company was incorporated in 2009 and is based in Salt Lake City, Utah.FatPipe Networks, Inc. develops, manufactures, and markets router clustering products for wide area network (WAN) optimization, reliability, and security. The company provides IPVPN, a device for WAN optimization in private and public lines; MPVPN that provides VPN security, fault tolerance, and speed for critical VPNs; WARP, a solution for WAN redundancy, reliability, and increased bandwidth of data traffic directed from the network to the Internet, as well as data traffic directed to servers hosted internally; and XTREME, a high-speed router clustering device for WAN redundancy, reliability, load balancing, and speed for data traffic directed from the network to the Internet. It also offers WAN Optimization technology solutions; EnterpriseView for network administrators to monitor, manage, and maintain FatPipe devices from a central location; Symphony that offers software-defined WAN (SD-WAN) solution; SD-WAN for Azure that addresses connectivity issues for cloud-based real-time applications; and Cloud Connect that provides access to cloud services and centralized control of branch offices' web traffic. In addition, the company's solutions comprise premise managed, hosted managed, high bandwidth, multi-line WAN optimization, multi-path security, application control and visibility, hybrid multi line WAN, software-defined WAN, and secure hybrid WAN solutions, as well as FatPipe as a Service for MSPs. It serves markets, including healthcare benefits, hospital, hospitality, education, manufacturing, retail, publishing/media, financial, tax courts, government, government contractor, and government agency. The company markets and sells its products through a network of resellers, distributors, and dealers worldwide. FatPipe Networks, Inc. was formerly known as Ragula Systems, Inc. and changed its name to FatPipe Networks, Inc. in April 2004. The company was founded in 1989 and is based in Salt Lake City, Utah with operations in the United States, Nigeria, Philippines, Australia, India, and South Africa.
FatPipe develops secure SD-WAN, SASE, and network monitoring service software, and offers these networking solutions to organizations in the United States and internationally.
The company’s profit structure is driven by software gross margin (87.7%), with operating margin (9.8%) showing that operating costs materially reduce gross profit.
Business quality (Weak): Clear product focus (SD-WAN, SASE, and NMS), but this dataset does not provide segment revenue or operating KPIs, limiting how much the profit engine can be tied to specific business drivers.
Valuation: Trades at 15× trailing earnings · $0B market cap.
| Price | $6.43 |
| Market Cap | $86.89M |
| P/E Ratio | 38.9 |
| EV / EBITDA | 35.6 |
| Price / Book | 3.28 |
| Price / Sales | 5.11 |
| FCF Yield | -0.6% |
| DCF Value (model) | $3.32 |
| DCF Upside vs Price | -48.4% |
| Revenue (TTM) | $19.21M |
| Net Margin | 25.9% |
| Revenue Growth (YoY) | 27.8% |
| EPS Growth (YoY) | 80.0% |
| Altman Z-Score | 7.54 (safe) |
| Piotroski F-Score | 4/9 (moderate) |
| Stock P/E | 38.9 |
| Sector P/E (Technology) | 33.9 |
| Industry P/E (Business Services) | 30.0 |
| vs Sector | 14.6% |
| vs Industry | 29.8% |
| Top Institutional Holder | CITADEL ADVISORS LLC ($63214.00) |
| Institutional Holders Tracked | 10 |
| Sector | Technology |
| Industry | Business Services |
| CEO | Ragula Bhaskar |
| Employees | 154 |
| Country | US |
| IPO Date | 2025-04-08 |
Data as of 2026-08-21.
Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.