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Fatpipe vs Aware: FATN and AWRE compared
Fatpipe is the larger company: $4.8M of revenue in its latest quarter (Q2 FY27) against $4.4M for Aware (Q3 2026). Fatpipe is growing faster (+22% against -14% a year earlier). Fatpipe is more profitable, with an operating margin of 17.5% against -21.3%.
Where the money goes: FATN and AWRE
Fatpipe (FATN) · Q2 FY27
Fatpipe, Q2 FY27: revenue $4.8M (+22% year over year), operating margin 17.5%, net earnings $1.2M, operating cash flow −$1.1M. The chart follows the revenue to costs, profit and cash.
Aware (AWRE) · Q3 2026
Aware, Q3 2026: revenue $4.4M (-14% year over year), operating margin -21.3%, net loss $791K, operating cash flow −$1.4M. The chart follows the revenue to costs, profit and cash.
| Fatpipe (FATN) | Aware (AWRE) | |
|---|---|---|
| Latest quarter | Q2 FY27 | Q3 2026 |
| Revenue | $4.8M | $4.4M |
| Revenue growth, Y/Y | +22% | -14% |
| Gross margin | 90.0% | — |
| Operating margin | 17.5% | -21.3% |
| Net earnings | $1.2M | −$791K |
| Net margin | 24.9% | -17.9% |
| Operating cash flow | −$1.1M | −$1.4M |
Where the revenue comes from
Fatpipe
- Product: $3.3M (69%)
- Service: $918K (19%)
- Consulting: $593K (12%)
Aware
- Maintenance: $2.1M (48%)
- License and Service: $1.9M (44%)
- Service Other: $374K (8%)
Questions
Which is bigger, Fatpipe or Aware?
Fatpipe is the larger company: $4.8M of revenue in its latest quarter (Q2 FY27) against $4.4M for Aware (Q3 2026).
Is Fatpipe or Aware growing faster?
Fatpipe is growing faster (+22% against -14% a year earlier).
Which is more profitable, Fatpipe or Aware?
Fatpipe is more profitable, with an operating margin of 17.5% against -21.3%.
More: Fatpipe earnings · how Fatpipe makes money · Aware earnings · how Aware makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 4, 2026; 10-Q filed Oct 30, 2026). Fiscal quarters can end on different dates. Not investment advice.