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FatPipe is a pioneer in enterprise-class, application-aware, secure SD-WAN solutions for organizations, including enterprises, communication service providers, security service providers, government organizations, and other middle-market companies. We strive to be the global leader in delivering leading-edge enterprise-class networking software technology.
18.69% operating margin is respectable but not wide. ROIC at 10.50%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.
Revenue grew 17.9%, still solid. Margins contracted 2.6pp, which offsets some of the top-line progress.
Negative free cash flow of -$833K. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$19M
▲ +17.9% YoY
Net Income (TTM)
$5M
▲ +152.7% YoY
Op. Margin
18.69%
▼ -2.6pp YoY
ROIC
10.50%
▼ -1.3pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$833K
▼ -59.0% YoY
Op. Cash Flow (TTM)
-$780K
▼ -54.8% YoY
Net Debt
$885K
Cash & Equiv.
$5M
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