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How Fatpipe (FATN) makes money

Fatpipe (FATN) made $4.8M of revenue in the second quarter fiscal 2027 (Q2 FY27), +22% from a year earlier. Product brought in $3.3M (69%); Service brought in $918K (19%); Consulting brought in $593K (12%). Of every dollar of revenue, 90¢ was left as gross profit, 17¢ was left as operating profit, 25¢ was left as net earnings.

Drawing the Sankey…

Fatpipe revenue by segment, Q2 FY27Fatpipe revenue by segment, Q2 FY27Product$3.3MService$918KConsulting$593K
Fatpipe: revenue by line, Q1 FY26 to Q2 FY27Fatpipe: revenue by line, Q1 FY26 to Q2 FY27ProductOther revenuesServiceConsultingProduct: $3.3M latest$3.3MOther revenues: $0 latestService: $918K latestConsulting: $593K latestQ1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27Q2 FY27
Product went from 61% of revenue in Q1 FY26 to 69% in Q2 FY27, the largest shift in the mix.
Fatpipe revenue by quarterFatpipe revenue by quarter$9.8MQ4 FY25$3.9MQ1 FY26$4.0MQ2 FY26$4.1MQ3 FY26$13.6MQ4 FY26$5.0MQ1 FY27$4.8MQ2 FY27
Fatpipe: where each dollar of revenue goesFatpipe: where each dollar of revenue goesCost of revenue10¢Gross profit90¢Operating expenses72¢Operating profit17¢Net earnings25¢

Revenue by segment, Q2 FY27

SegmentRevenueShareQ/QY/Y
Product$3.3M68.7%-6%+37%
Service$918K19.0%-3%+1%
Consulting$593K12.3%+8%-6%

Where each dollar of revenue goes

LineQ2 FY27% of revenue
Revenue$4.8M100.0%
Cost of revenue$485K10.0%
Gross profit$4.3M90.0%
Operating expenses$3.5M72.5%
Operating profit$845K17.5%
Net earnings$1.2M24.9%

Revenue, quarter by quarter

QuarterRevenueY/Y
Q2 FY27$4.8M+22%
Q1 FY27$5.0M+28%
Q4 FY26$13.6M+38%
Q3 FY26$4.1M+30%
Q2 FY26$4.0M-29%
Q1 FY26$3.9M+5%
Q4 FY25$9.8M—

From Fatpipe's 10-Q filed Nov 4, 2026 (on EDGAR).

Questions

How does Fatpipe make money?

Fatpipe (FATN) made $4.8M of revenue in the second quarter fiscal 2027 (Q2 FY27), +22% from a year earlier. Product brought in $3.3M (69%); Service brought in $918K (19%); Consulting brought in $593K (12%). Of every dollar of revenue, 90¢ was left as gross profit, 17¢ was left as operating profit, 25¢ was left as net earnings.

What is Fatpipe's biggest business?

Product: $3.3M in the second quarter fiscal 2027, 69% of revenue, +37% from a year earlier.

What is Fatpipe's profit margin?

Net earnings were $1.2M, 24.9% of revenue, in the second quarter fiscal 2027; the operating margin was 17.5%.

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Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.