Fatpipe Q2 FY2027 revenue grows 22% year over year

Q: What were FATN's adjusted EBITDA and margin in Q2 FY2027?

Adjusted EBITDA was $1.2 million and the adjusted EBITDA margin was approximately 24.1% in Q2 FY2027. Adjusted EBITDA was $0.7 million in Q2 FY2026.

Management said its priorities include expanding channel partnerships and its customer base, alongside SD-WAN, cybersecurity and network-monitoring offerings.

Available on EDGAR 11/04/2026 - 05:12 PM EST Accepted by SEC EDGAR 11/04/2026 - 05:11 PM EST

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Form Type

8-K

Rhea-AI Filing Summary

Fatpipe Inc (FATN) reported second-quarter fiscal 2027 results for the quarter ended September 30, 2026. Revenue was $4, compared with $3 in Q2 FY2026, and the company reported 22% year-over-year growth. Net income was $1, compared with -$0, while diluted net income per share was $0.09 versus $0.00. Adjusted EBITDA was $1.2 million, compared with $0.7 million, with an approximately 24.1% margin.

The company attributed revenue growth to increased recurring billings, customer renewals, and new customer wins.

2 points · 0 major

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Rhea-AI Sentiment measures something else, the tone of the wording.

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0 major · 0 points

How the balance works

Positive

Moderate pointQ2 revenue grew 22% year over year.
Moderate pointAdjusted EBITDA was $1.2 million, versus $0.7 million in Q2 FY2026.

Negative

None.

8-K Event Classification

2 items: 2.02, 9.01

2 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

Revenue: $4 Net income: $1 Diluted net income per share: $0.09 +2 more

5 metrics

Revenue $4 Q2 FY2027; $3 in Q2 FY2026; 22% year-over-year growth

Net income $1 Q2 FY2027; -$0 in Q2 FY2026

Diluted net income per share $0.09 Q2 FY2027; $0.00 in Q2 FY2026

Adjusted EBITDA $1.2 million Q2 FY2027; $0.7 million in Q2 FY2026

Adjusted EBITDA margin Approximately 24.1% Q2 FY2027

Key Terms

Adjusted EBITDA, recurring billings, SD-WAN, single-stack cybersecurity

4 terms

Adjusted EBITDA financial

"Adjusted EBITDA for Q2 2027 was $1.2 million"

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.

recurring billings financial

"driven by increased recurring billings"

SD-WAN technical

"enterprise-class, application-aware, secure software-defined wide area network (SD-WAN)"

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.

single-stack cybersecurity technical

"a full single stack cybersecurity solution"

A single-stack cybersecurity approach means using one integrated suite of security products from a single vendor to cover multiple protections—such as network, endpoint, cloud and identity—rather than buying separate point solutions. For investors, it matters because this model affects a company's operational simplicity, vendor concentration risk, integration costs and scalability; think of it like buying a full kitchen set from one brand instead of mixing appliances from many makers.

Earnings Snapshot

Revenue: $4

Q2 FY2027 ended September 30, 2026

Revenue $4 22% year-over-year growth; $3 in Q2 FY2026

Net income $1 Compared with -$0 in Q2 FY2026

Diluted net income per share $0.09 Compared with $0.00 in Q2 FY2026

Adjusted EBITDA $1.2 million Compared with $0.7 million in Q2 FY2026

Adjusted EBITDA margin Approximately 24.1%

FAQ

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

What was FATN's revenue in Q2 FY2027?

Fatpipe reported Q2 FY2027 revenue of $4, representing 22% year-over-year growth compared with $3 in Q2 FY2026. The company attributed the growth to increased recurring billings, customer renewals, and new customer wins.

What were FATN's adjusted EBITDA and margin in Q2 FY2027?

Adjusted EBITDA was $1.2 million and the adjusted EBITDA margin was approximately 24.1% in Q2 FY2027. Adjusted EBITDA was $0.7 million in Q2 FY2026.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Understanding 8-K Material Events →

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) November 4, 2026

Fatpipe Inc/UT

FATPIPE, INC.

(Exact name of registrant as specified in its charter)

Utah

001-42546

27-1113325

(State or other jurisdiction

of incorporation)

(Commission

File Number)

(IRS Employer

Identification No.)

392 East Winchester Street, Fifth Floor, Salt Lake City, UT		84107
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code (844) 203-6092

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

SEC 873 (07-24)

Potential persons who are to respond to the collection of information contained in this Form are not required to respond unless the Form displays a currently valid OMB control number.

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, no par value		FATN		Nasdaq Capital Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition

On November 4, 2026, FatPipe, Inc. (the “Company”) reported financial results for the quarter ended September 30, 2026. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and incorporated by reference.

The information in this Item 2.02 of this Current Report on Form 8-K, including Exhibit 99.1 attached hereto, is furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended. The information shall not be deemed incorporated by reference into any other filing with the Securities and Exchange Commission made by the Company, whether made before or after today’s date, regardless of any general incorporation language in such filing, except as shall be expressly set forth by specific references in such filing.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

Exhibit No.		Description
99.1		Press Release Issued by FatPipe, Inc. dated November 4, 2026
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

2 of 3

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	FatPipe, Inc.
	(Registrant)

Date November 4, 2026
		/s/ Ragula Bhaskar
		(Signature)*
	Name:	Ragula Bhaskar
	Title:	Chief Executive Officer (Principal Executive Officer)

*Print name and title of the signing officer under his signature.

3 of 3

Exhibit 99.1

FatPipe, Inc. (FATN) Reports Q2 FY2027 Results: 22% Y-o-Y Q2 Revenue Growth and 24.1% Adjusted EBITDA Margin

SALT LAKE CITY, UT / PRNewswire / November 4, 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 second quarter fiscal year 2027 results for the period ended September 30, 2026.

Q2 Highlights

	●	Q2 2027 revenue was $4.83M, representing 22% growth compared to $3.96M in Q2 2026

	●	Q2 2027 net income was $1.2M compared to -$0.04M in Q2 2026

	●	Diluted net income per share was $0.09, compared to $0.00 in Q2 2026

	●	Adjusted EBITDA for Q2 2027 was $1.2 million, representing an Adjusted EBITDA margin of approximately 24.1%, compared to $0.7 million in Q2 2026

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

“We are pleased with our continued revenue growth and profitability this quarter, reflecting the strength of our business model and continued execution across the organization,” said Dr. Ragula Bhaskar, CEO of FatPipe. “We remain focused on expanding our channel partnerships, growing our customer base, and building on the momentum across our SD-WAN, cybersecurity, and network monitoring offerings.”

“Our second quarter results reflect continued progress in growing our recurring revenue base,” said Kanishka Ragula, CFO of FatPipe. “With revenue increasing 22% year-over-year and an Adjusted EBITDA margin of 24.1%, we continue to demonstrate our ability to deliver profitable growth while investing in strategic initiatives. We believe our financial position provides a strong foundation to expand our sales organization, strengthen our partner ecosystem, and pursue additional growth opportunities.”

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.

Company Contact Info

Vikrant Ragula

Vice President of Investor Relations

+1 801.683-5656 x 1140

Investor.ir@fatpipeinc.com

Source: View Original Filing on SEC EDGAR

Filing Exhibits & Attachments

4 documents

Press Releases

EX-99.1 EX-99.1 15.9 KB