Filing Flows › Fatpipe (FATN) › Q1 FY26
Fatpipe (FATN) Q1 FY26 earnings results (first quarter fiscal 2026)
10-Q filed Jul 30, 2025
Fatpipe (FATN) reported revenue of $3.9M for the first quarter fiscal 2026 (Q1 FY26), +5% from a year earlier and -60% from the quarter before. Operating margin was 25.5%, net earnings $741K (18.8% of revenue).
Fatpipe, Q1 FY26: revenue $3.9M (+5% year over year), operating margin 25.5%, net earnings $741K, operating cash flow −$509K. The chart follows the revenue to costs, profit and cash.
| Q1 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.9M | -60% | +5% |
| Gross profit | $3.7M | +2% | +7% |
| Operating profit | $1.0M | +513% | +17% |
| Net earnings | $741K | — | +22% |
| Operating cash flow | −$509K | — | — |
What changed
Revenue was $3.9M in Q1 FY26, up 5% year over year and down 60% from the previous quarter. Product was the largest line at 61% of revenue. Product added $287K year over year (up 14%), 155% of the total change. Consulting declined 24%.
Gross margin was 94.2%, up 1.8 points from a year earlier. Operating profit was $1.0M, a 25.5% margin (up 2.5 points year over year). Of the extra revenue versus a year earlier, 77% reached operating profit, above the 23% margin then. Operating expenses grew 4% against revenue growth of 5%. Net earnings were $741K, up 18% year over year. The effective tax rate was 22.5%.
Operating cash flow was −$509K. Non-cash charges added back $92K of depreciation and amortization. Working capital and other items used $1.3M. Capital expenditures of $42K exceeded it, leaving free cash flow of −$551K.
Questions
What was Fatpipe's revenue in the first quarter fiscal 2026?
Fatpipe (FATN) reported revenue of $3.9M for the first quarter fiscal 2026 (Q1 FY26), +5% from a year earlier and -60% from the quarter before.
Was Fatpipe profitable in the first quarter fiscal 2026?
Operating profit was $1.0M (25.5% of revenue) and net earnings $741K.
Source: Fatpipe 10-Q on SEC EDGAR.