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Side-by-side financial comparison of Fatpipe Inc (FATN) and Opus Genetics, Inc. (IRD). Click either name above to swap in a different company.
Fatpipe Inc is the larger business by last-quarter revenue ($4.1M vs $3.9M, roughly 1.1× Opus Genetics, Inc.). On growth, Fatpipe Inc posted the faster year-over-year revenue change (3.2% vs -10.2%).
Opus Genetics, Inc. is a clinical-stage biotechnology company specializing in the development of targeted gene therapies for inherited retinal diseases. It focuses on addressing unmet medical needs for patients living with rare, vision-threatening ocular conditions, with operations centered on advancing accessible therapeutic candidates for global rare disease patient populations.
FATN vs IRD — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $4.1M | $3.9M |
| Net Profit | $310.7K | — |
| Gross Margin | 87.7% | — |
| Operating Margin | 9.8% | — |
| Net Margin | 7.6% | — |
| Revenue YoY | 3.2% | -10.2% |
| Net Profit YoY | 816.0% | 53.0% |
| EPS (diluted) | $0.02 | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $4.1M | $3.9M | ||
| Q3 25 | $4.0M | $3.1M | ||
| Q2 25 | $3.9M | $2.9M | ||
| Q1 25 | — | $4.4M | ||
| Q4 24 | — | $4.3M | ||
| Q3 24 | — | $3.9M | ||
| Q2 24 | — | $1.1M | ||
| Q1 24 | — | $1.7M |
| Q4 25 | $310.7K | — | ||
| Q3 25 | $-43.4K | $-17.5M | ||
| Q2 25 | $741.2K | $-7.4M | ||
| Q1 25 | — | $-8.2M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $-7.5M | ||
| Q2 24 | — | $-7.8M | ||
| Q1 24 | — | $-7.1M |
| Q4 25 | 87.7% | — | ||
| Q3 25 | 92.1% | — | ||
| Q2 25 | 94.2% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | 9.8% | — | ||
| Q3 25 | -0.0% | -269.9% | ||
| Q2 25 | 25.5% | -309.0% | ||
| Q1 25 | — | -227.2% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -207.1% | ||
| Q2 24 | — | -748.9% | ||
| Q1 24 | — | -450.5% |
| Q4 25 | 7.6% | — | ||
| Q3 25 | -1.1% | -566.9% | ||
| Q2 25 | 18.8% | -257.5% | ||
| Q1 25 | — | -187.5% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -194.6% | ||
| Q2 24 | — | -698.3% | ||
| Q1 24 | — | -415.3% |
| Q4 25 | $0.02 | — | ||
| Q3 25 | $0.00 | $-0.25 | ||
| Q2 25 | $0.05 | $-0.12 | ||
| Q1 25 | — | $-0.24 | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $-0.29 | ||
| Q2 24 | — | $-0.30 | ||
| Q1 24 | — | $-0.29 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $45.1M |
| Total DebtLower is stronger | $4.6M | — |
| Stockholders' EquityBook value | $21.2M | $15.3M |
| Total Assets | $32.4M | $50.2M |
| Debt / EquityLower = less leverage | 0.22× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $45.1M | ||
| Q3 25 | — | $30.8M | ||
| Q2 25 | — | $32.4M | ||
| Q1 25 | — | $41.8M | ||
| Q4 24 | — | $30.3M | ||
| Q3 24 | — | $36.6M | ||
| Q2 24 | — | $41.4M | ||
| Q1 24 | — | $47.2M |
| Q4 25 | $4.6M | — | ||
| Q3 25 | $4.8M | — | ||
| Q2 25 | $4.9M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $21.2M | $15.3M | ||
| Q3 25 | $21.0M | $6.0M | ||
| Q2 25 | $20.4M | $17.5M | ||
| Q1 25 | — | $5.1M | ||
| Q4 24 | — | $6.7M | ||
| Q3 24 | — | $34.3M | ||
| Q2 24 | — | $40.6M | ||
| Q1 24 | — | $46.1M |
| Q4 25 | $32.4M | $50.2M | ||
| Q3 25 | $32.2M | $36.1M | ||
| Q2 25 | $32.0M | $38.7M | ||
| Q1 25 | — | $48.2M | ||
| Q4 24 | — | $36.9M | ||
| Q3 24 | — | $40.4M | ||
| Q2 24 | — | $44.8M | ||
| Q1 24 | — | $51.8M |
| Q4 25 | 0.22× | — | ||
| Q3 25 | 0.23× | — | ||
| Q2 25 | 0.24× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $240.9K | $-35.3M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 0.78× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $240.9K | $-35.3M | ||
| Q3 25 | $399.8K | $-6.2M | ||
| Q2 25 | $-508.6K | $-10.3M | ||
| Q1 25 | — | $-9.0M | ||
| Q4 24 | — | $-25.6M | ||
| Q3 24 | — | $-5.1M | ||
| Q2 24 | — | $-7.3M | ||
| Q1 24 | — | $-5.7M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $-551.1K | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | -14.0% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 1.1% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | 0.78× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | -0.69× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FATN
| Products | $2.6M | 63% |
| Other | $1.5M | 37% |
IRD
Segment breakdown not available.
