FatPipe (FATN) Q4 2026 earnings summary

Executive summary

• Q4 2026 revenue reached $7.2M, up 90% year-over-year, with net income of $4.0M versus a loss in Q4 2025.

• Fiscal year 2026 revenue totaled $19.2M, an 18% increase year-over-year, and net income rose 154% to $5.0M.

• Strong recurring revenue growth and customer adoption drove performance, reflecting demand for secure, high-performance networking.

Financial highlights

• Q4 2026 Adjusted EBITDA was $3.1M, up from $0.2M in Q4 2025.

• FY2026 Adjusted EBITDA reached $5.4M, with an EBITDA margin of approximately 28%.

• Diluted net income per share for FY2026 was $0.35, up from $0.15 in FY2025.

• Non-GAAP net income per share for FY2026 was $0.46, compared to $0.15 in FY2025.

Outlook and guidance

• Management remains focused on disciplined execution, channel expansion, and increasing recurring software and cybersecurity revenue.

• Continued investment in product innovation and deployment support is planned for fiscal 2027.