FatPipe (FATN) Registration Filing summary

Company overview and business model

• Develops enterprise-class, application-aware, secure SD-WAN, SASE, and NMS solutions, primarily offered as subscriptions.

• Serves enterprises, service providers, government, and mid-market customers globally, with key markets in the US and India.

• Holds 13 patents and leverages a channel-driven sales model with over 100 partners.

• Revenue is generated from software, services, and consulting, with contracts typically spanning 36–60 months.

Financial performance and metrics

• Fiscal year ended March 31, 2024: net revenue $17.86M, up 13% YoY; gross profit $16.79M, gross margin 94%.

• Net income for FY 2024 was $4.28M, up from $2.89M in FY 2023.

• For the six months ended September 30, 2024: net revenue $9.35M, gross margin 95%, net income $2.24M.

• Cash and cash equivalents as of September 30, 2024: $845,850; total assets $25.24M.

• Adjusted EBITDA for FY 2024 was $6.34M, up from $3.82M in FY 2023.

Use of proceeds and capital allocation

• Net proceeds will fund sales and marketing, customer support, R&D, and general working capital.

• Proceeds may be allocated at management's discretion as business needs evolve.