FatPipe Inc. (FATN) Reports Q4 and FY2026 Results: 90% Y-o-Y Q4 Revenue Growth, Q4 Recurring Revenue up 56% Y-o-Y, Annual Revenue Growth of 18%

FatPipe (NASDAQ:FATN) reported strong Q4 and FY2026 results for the period ended March 31, 2026.

Rhea-AI Summary

FatPipe (NASDAQ:FATN) reported strong Q4 and FY2026 results for the period ended March 31, 2026.

• Q4 2026 revenue was $7.2M, up 90% year-over-year
• Q4 net income was $4.0M, versus a loss in Q4 2025
• Q4 Adjusted EBITDA was $3.1M; recurring billings grew 56% year-over-year
• FY2026 revenue reached $19.2M, up 18% year-over-year
• FY2026 net income was $5.0M, up 154%; non-GAAP net income was $6.4M
• Diluted EPS was $0.35, non-GAAP EPS $0.46; FY Adjusted EBITDA was $5.4M with ~28% margin

Positive

• Q4 2026 revenue grew 90% year-over-year to $7.2M
• Q4 2026 net income was $4.0M versus a $0.37M loss in Q4 2025
• Q4 2026 Adjusted EBITDA increased to $3.1M from $0.2M
• Q4 2026 monthly recurring billings rose 56% year-over-year
• FY2026 revenue grew 18% year-over-year to $19.2M
• FY2026 net income rose 154% year-over-year to $5.0M
• FY2026 non-GAAP net income increased to $6.4M from $2.0M
• FY2026 diluted EPS increased to $0.35 from $0.15
• FY2026 non-GAAP EPS increased to $0.46 from $0.15
• FY2026 Adjusted EBITDA reached $5.4M with approximately 28% margin

Negative

• None.

Argus May 19 session

-7.77% close to close Open Argus

Details

News Market Reaction – FATN

On May 19, the first trading day after this news, FATN closed 7.77% below the previous close.

Data tracked by StockTitan Argus for the May 19 session.

Key Figures

Q4 2026 Revenue: $7.2M Q4 2026 Net Income: $4.0M Q4 2026 Adjusted EBITDA: $3.1M +5 more

Q4 2026 Revenue

$7.2M

Q4 2026, up 90% vs Q4 2025 ($3.8M)

Q4 2026 Net Income

$4.0M

Q4 2026 vs -$0.37M in Q4 2025

Q4 2026 Adjusted EBITDA

$3.1M

Q4 2026 vs $0.2M in Q4 2025

Q4 MRR Growth

56%

Q4 2026 Monthly Recurring Billings growth vs Q4 2025

FY2026 Revenue

$19.2M

FY2026, 18% growth vs FY2025

FY2026 Net Income

$5.0M

FY2026, 154% growth vs FY2025

FY2026 Non-GAAP Net Income

$6.4M

FY2026 vs $2.0M in FY2025

FY2026 Adjusted EBITDA

$5.4M

FY2026, ~28% EBITDA margin vs $4.0M in FY2025

Previous Earnings Reports

4 past events · Latest: Apr 16

Same Type 4 events

1. Apr 16

   Earnings call announcement

   24h Move

   -4.5%

   Scheduled investor call to discuss FY2026 results and outlook.

2. Feb 02

   Q3 2026 earnings

   24h Move

   +41.3%

   Q3 revenue up 30% Y/Y and MRR up 48% with positive EBITDA.

3. Nov 04

   Q2 2026 earnings

   24h Move

   -6.6%

   Revenue stable Q/Q, high gross margin but Y/Y decline from prior large deals.

4. Jul 30

   Q1 2026 earnings

   24h Move

   -3.0%

   Post-IPO quarter with revenue growth, 94% gross margin and higher net income.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

adjusted ebitda, monthly recurring billings, sd-wan, application-aware routing, +1 more

5 terms

adjusted ebitda financial

"Q4 2026 Adjusted EBITDA was $3.1M compared to $0.2M in Q4 2025"

Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.

monthly recurring billings financial

"Q4 2026 Monthly Recurring Billings grew 56% compared to Q4 2025"

Monthly recurring billings are the total dollar value a company invoices each month for ongoing, repeatable services or subscriptions, similar to how a utility or gym charges a steady monthly fee. Investors watch this number because it shows how much predictable revenue a business generates each month, helping assess growth momentum, customer retention, and how reliably future cash flow and valuations can be forecasted.

sd-wan technical

"software-defined wide area network ("SD-WAN") and single-stack cybersecurity solutions"

SD‑WAN is a technology that uses software to control and direct wide-area network traffic between offices, data centers and cloud services instead of relying solely on traditional hardware routers. Think of it as a smart traffic manager that chooses the fastest, cheapest or safest route for each data flow, improving performance, cutting telecom costs and simplifying upgrades. Investors care because it can lower operating expenses, enable faster cloud adoption and create steady demand for networking and security services.

application-aware routing technical

"patented secure SD-WAN technology, application-aware routing, centralized visibility"

Application-aware routing directs network traffic based on the needs and behavior of individual applications (for example prioritizing video calls over file backups) instead of only using basic address-based rules. Investors should care because it can improve performance and reliability for end users, lower operating costs, and enable premium services—factors that can increase customer satisfaction, reduce churn, and support higher revenue or margins.

single-stack security technical

"centralized visibility, and single-stack security capabilities."

Single-stack security describes a cybersecurity approach where an organization uses one vendor or one tightly integrated set of products to provide most or all security functions across its systems. For investors, it matters because this can simplify management and reduce integration headaches—like buying an all-in-one appliance—but also concentrates risk and vendor dependence, creating potential single points of failure or negotiation leverage that can affect costs and operational resilience.

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SALT LAKE CITY, May 18, 2026 /PRNewswire/ -- 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 fourth quarter and fiscal year 2026 results for the period ended March 31, 2026.

Q4 Highlights

• Q4 2026 revenue was $7.2M, representing 90% growth compared to $3.8M in Q4 2025
  
  
• Q4 2026 net income was $4.0M compared to -$0.37M in Q4 2025
  
  
• Q4 2026 Adjusted EBITDA was $3.1M compared to $0.2M in Q4 2025
  
  
• Q4 2026 Monthly Recurring Billings grew 56% compared to Q4 2025, reflecting continued adoption of FatPipe's offerings

Fiscal Year 2026 Highlights

• Revenue was $19.2M, representing 18% growth compared to FY2025
• Net income was $5.0M, representing 154% growth compared to FY2025
• Non-GAAP Net Income was $6.4M compared to $2.0M in FY2025
• Diluted Net Income per share was $0.35, compared to $0.15 in FY2025
• Non-GAAP Net Income per share was $0.46 compared to $0.15 in FY2025
• Adjusted EBITDA for FY2026 was $5.4 million, representing an EBITDA margin of approximately 28%, reflecting operating leverage as the Company scales and invests in growth, compared to $4.0 million in FY2025

Financial Performance

Revenue growth during the quarter was driven by increased recurring billings, customer renewals, and new customer wins. FatPipe continued to see strong demand from customers seeking secure, high-performance alternatives to legacy networking and security vendors.

Management Commentary

"Our fourth quarter results demonstrate the scalability of FatPipe's model and the progress we have made converting pipeline into revenue, profitability, and recurring billings growth," said Dr. Ragula Bhaskar, CEO of FatPipe. "We believe the combination of strong quarterly revenue growth, meaningful net income generation, and continued customer adoption of our offerings reflects both the strength of our technology and the expanding market need for secure, resilient enterprise connectivity. As we enter fiscal 2027, our focus remains on disciplined execution, channel expansion, and increasing the contribution from recurring software and cybersecurity revenue."

"During the quarter, we saw customers continue to prioritize network resilience, application performance, and integrated security as core infrastructure requirements," said Sanchaita Datta, President and CTO of FatPipe. "FatPipe's platform is designed to address these needs through our patented secure SD-WAN technology, application-aware routing, centralized visibility, and single-stack security capabilities. We are continuing to invest in product innovation and deployment support so that customers can modernize complex networks without adding unnecessary operational complexity."

Forward-Looking Statements

Certain statements contained in this press release, may constitute forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements can generally be identified by our use of forward-looking terminology such as "may," "will," "expect," "intend," "anticipate," "estimate," "believe," "continue," or other similar words. Readers are cautioned not to place undue reliance on these forward-looking statements, which are based on management's current expectations and are inherently subject to various risks, uncertainties, assumptions, or changes in circumstances that are difficult to predict or quantify. These risks and uncertainties include, but are not limited to, those described in FatPipe's filings with the U.S. Securities and Exchange Commission. Except as required by law, FatPipe expressly disclaims a duty to provide updates to forward-looking statements, whether as a result of new information, future events or other occurrences.

Forward-looking statements speak only as of the date of this press release, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.

About FatPipe, Inc.

FatPipe pioneered the concept of software-defined wide area networking (SD-WAN) and hybrid WANs that eliminate the need for hardware and software or cooperation from ISPs and allows companies and service providers to control multi-link network traffic. FatPipe introduced a full single stack cybersecurity solution designed to be sold to the same customer profile, and Buyer as FatPipe. FatPipe currently has 13 U.S. patents related to multipath, software-defined networking. FatPipe products are sold by 200+ resellers worldwide.

For more information, please visit www.fatpipeinc.com.

Follow us on X @FatPipe_Inc.

Company Contact Info
Vikrant Ragula
Director of Investor Relations
+1 801.683-5656 x 1140
Investor.ir@fatpipeinc.com

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SOURCE FatPipe Networks

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were FatPipe (FATN) Q4 2026 earnings and revenue results?

FatPipe reported Q4 2026 revenue of $7.2 million and net income of $4.0 million. According to FatPipe, this reflects 90% year-over-year revenue growth and a turnaround from a $0.37 million net loss in Q4 2025.

How did FatPipe (FATN) perform for full fiscal year 2026?

FatPipe reported FY2026 revenue of $19.2 million and net income of $5.0 million. According to FatPipe, this represents 18% revenue growth and 154% net income growth compared to fiscal 2025.

What was FatPipe (FATN) FY2026 Adjusted EBITDA and margin?

FatPipe reported FY2026 Adjusted EBITDA of $5.4 million with an EBITDA margin of about 28%. According to FatPipe, this compares to $4.0 million in FY2025 and reflects operating leverage as the company scales.

How fast did FatPipe (FATN) recurring revenue grow in Q4 2026?

FatPipe reported Q4 2026 monthly recurring billings growth of 56% year-over-year. According to FatPipe, this increase reflects continued adoption of its secure SD-WAN and single-stack cybersecurity offerings by both renewing and new customers.

What were FatPipe (FATN) FY2026 GAAP and non-GAAP earnings per share?

FatPipe reported FY2026 diluted GAAP EPS of $0.35 and non-GAAP EPS of $0.46. According to FatPipe, both metrics improved from $0.15 per share in fiscal 2025, supported by higher revenue and profitability.

What factors drove FatPipe (FATN) revenue growth in Q4 2026?

FatPipe’s Q4 2026 revenue growth was driven by increased recurring billings, customer renewals, and new customer wins. According to FatPipe, demand came from customers seeking secure, high-performance alternatives to legacy networking and security vendors.

What is FatPipe’s (FATN) strategic focus entering fiscal 2027?

FatPipe plans to focus on disciplined execution, channel expansion, and growing recurring software and cybersecurity revenue. According to FatPipe, management also aims to continue investing in product innovation and deployment support to help customers modernize complex networks.