FatPipe Inc (OTC: FATN) is a software networking company that develops and sells an integrated suite of SD-WAN, SASE, network management, and cybersecurity solutions to mid-market and enterprise customers. Revenue comes primarily from multi-year software license contracts, typically 36 to 60 months in duration, billed monthly, with license revenue recognized at the point of delivery or transfer of control. A consulting subsidiary, FatPipe Technologies, provides project-based consulting, staffing, and engineering services. As of the 10-K filed May 18, 2026, the company had deployed its software to over 2,500 end-user customers across sectors including education, financial services, government, healthcare, hospitality, legal, manufacturing, retail, and transportation. No single end-user customer accounted for more than 10% of total revenue in fiscal year 2026. The company completed its initial public offering on April 9, 2025, raising net proceeds of approximately $3,935,522 including partial exercise of the underwriters' over-allotment option. Sales reach customers through a reseller and channel partner model, with direct sales engagement for larger enterprise deals.

Revenue model

Multi-year software license contracts (36 to 60 months, billed monthly) with license revenue recognized at point of delivery. Secondary revenue from project-based consulting, staffing, and engineering services through FatPipe Technologies subsidiary. Revenues reported net of marketing development funds paid to distribution partners.

Products and services

SD-WAN software platform (primary offering, sold predominantly on subscription basis, deployable on commodity appliance, virtual, cloud, hybrid, or on-premise); SASE (Secure Access Service Edge); NMS (Network Management System) for centralized network visibility; Cybersecurity capabilities including firewalling, intrusion detection and prevention, secure access controls, traffic inspection, and threat detection. All solutions are designed to operate as a single integrated software stack.

Customers and end markets

Over 2,500 end-user customers as of fiscal year 2026 (per 10-K filed May 18, 2026). Core customer base is mid-market companies, with customers ranging from small businesses to Fortune 1000 enterprises. End markets include education, financial services, government, healthcare, hospitality, legal, manufacturing, retail, and transportation. No single customer exceeded 10% of total revenue in fiscal year 2026.

Value-chain role

Software vendor selling directly and through resellers and channel partners. Hardware procurement for customers unable to host software solutions is handled by FatPipe on a project basis. Consulting and staffing services delivered through FatPipe Technologies subsidiary.

Geographic exposure

Primary operations in existing markets with stated expansion focus on India, Southeast Asia (excluding China), and Mexico, per 10-K filed May 18, 2026. Geography-specific software license bundles under development for these markets.

Source: SEC 10-K, filed 2026-05-18

Industry: Services-Prepackaged Software