For Immediate Release
SALT LAKE CITY, UT / ACCESS Newswire / November 18, 2025
FatPipe, Inc. (NASDAQ:FATN) ("FatPipe" or the "Company"), a pioneer in enterprise-class, application-aware, secure software-defined wide area network ("SD-WAN") solutions that provide high levels of reliability, security, and optimization for Wide Area Networks (WANs) and single-stack cybersecurity solutions, today announced it published a letter from its CEO, Dr. Ragula Bhaskar.
Dear Fellow Shareholders,
Following our successful IPO earlier this year, FatPipe's stock has recently experienced downward pressure as the initial shareholder lockup period expired. This has allowed certain long-term historical shareholders to exit or reduce their positions, resulting in increased trading volume and short-term volatility. While such activity is common following a company's transition to a public market, it does not reflect any change in our underlying fundamentals or business trajectory.
At FatPipe, we remain focused on executing our strategic priorities and expanding our customer base. Our second quarter fiscal year 2026 results, released on November 4, 2025, underscore the health of our operations and the momentum we continue to build across key markets.
As we evaluate FatPipe's position within the broader networking and cybersecurity landscape, it is important to note how our valuation compares to peers in the SD-WAN and cybersecurity markets. According to an (1) NYU Stern analysis of Revenue Multiples by Sector (January 2025), 333 firms in the Software (System & Application) category traded at an average 11.20x Price/Sales multiple and 11.54x EV/Sales Multiple, while FatPipe currently trades at approximately a 2.06x Price to Sales multiple and 2.05x Enterprise Value/Sales multiple, respectively.
https://pages.stern.nyu.edu/~adamodar/New_Home_Page/datafile/psdata.html.
This comparison underscores the relative value opportunity we believe exists for FatPipe as we continue to grow recurring revenue, expand margins, and demonstrate the scalability of our SD-WAN and cybersecurity model.
FatPipe continues to distinguish itself as a pioneer in secure, application-aware SD-WAN and single-stack cybersecurity solutions. Our integrated approach combines reliability, optimization, and advanced security capabilities that customers increasingly demand as they modernize their network edge.
Our investments in sales coverage, partner enablement, and recurring revenue offerings are designed to translate into sustained growth in fiscal 2026 and beyond. We are also seeing strong interest from both enterprise and public sector organizations seeking cost-effective, high-performance alternatives to legacy networking vendors.
As we continue to scale as a newly public company, our focus remains on disciplined execution, profitable growth, and long-term shareholder value creation.
Thank you for your continued support and confidence in FatPipe as we build on our leadership in SD-WAN and cybersecurity innovation.
Sincerely,
Dr. Ragula Bhaskar
Chief Executive Officer
FatPipe, Inc. (NASDAQ:FATN)
FatPipe is pleased to invite investors to a webinar on December 16, 2025, at 4:15 p.m. ET. The exclusive event, hosted by RedChip Companies, will feature FatPipe's CEO, Dr. Ragula Bhaskar, who will discuss the company's performance and latest developments in greater detail. A live question and answer session will follow the presentation.
To register for the free webinar, please visit: https://www.redchip.com/webinar/FATN/81442635058.
Questions can be pre-submitted to FATN@redchip.com or online during the live event.
FatPipe pioneered the concept of software-defined wide area networking (SD-WAN) and hybrid WANs that eliminated the need for cooperation from ISPs and allow companies and service providers to control multi-link network traffic worldwide. FatPipe has now pioneered cost-effective, advanced single-stack cybersecurity for on-premise deployments that significantly improve network and cybersecurity for SMBs.
For more information, please visit www.fatpipeinc.com.
Follow us on X @FatPipe_Inc.
Company Contact Info
Vikrant Ragula
Director of Investor Relations
+1 801.683-5656 x 1140
Investor.ir@fatpipeinc.com
