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Side-by-side financial comparison of Fatpipe Inc (FATN) and Mega Matrix Inc (MPU). Click either name above to swap in a different company.
Mega Matrix Inc is the larger business by last-quarter revenue ($6.1M vs $4.1M, roughly 1.5× Fatpipe Inc). Fatpipe Inc runs the higher net margin — 7.6% vs -177.4%, a 185.0% gap on every dollar of revenue. On growth, Fatpipe Inc posted the faster year-over-year revenue change (3.2% vs -40.9%).
FATN vs MPU — Head-to-Head
Income Statement — Q3 FY2026 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $4.1M | $6.1M |
| Net Profit | $310.7K | $-10.8M |
| Gross Margin | 87.7% | 47.7% |
| Operating Margin | 9.8% | -156.3% |
| Net Margin | 7.6% | -177.4% |
| Revenue YoY | 3.2% | -40.9% |
| Net Profit YoY | 816.0% | -291.1% |
| EPS (diluted) | $0.02 | $-0.21 |
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 | — | ||
| Q3 25 | $4.0M | $6.1M | ||
| Q2 25 | $3.9M | $7.1M | ||
| Q1 25 | — | $7.7M | ||
| Q3 24 | — | $10.3M |
| Q4 25 | $310.7K | — | ||
| Q3 25 | $-43.4K | $-10.8M | ||
| Q2 25 | $741.2K | $-1.5M | ||
| Q1 25 | — | $-2.5M | ||
| Q3 24 | — | $-2.8M |
| Q4 25 | 87.7% | — | ||
| Q3 25 | 92.1% | 47.7% | ||
| Q2 25 | 94.2% | 58.5% | ||
| Q1 25 | — | 55.8% | ||
| Q3 24 | — | 58.5% |
| Q4 25 | 9.8% | — | ||
| Q3 25 | -0.0% | -156.3% | ||
| Q2 25 | 25.5% | -21.6% | ||
| Q1 25 | — | -32.8% | ||
| Q3 24 | — | -26.0% |
| Q4 25 | 7.6% | — | ||
| Q3 25 | -1.1% | -177.4% | ||
| Q2 25 | 18.8% | -20.7% | ||
| Q1 25 | — | -32.0% | ||
| Q3 24 | — | -26.8% |
| Q4 25 | $0.02 | — | ||
| Q3 25 | $0.00 | $-0.21 | ||
| Q2 25 | $0.05 | $-0.04 | ||
| Q1 25 | — | $-0.07 | ||
| Q3 24 | — | $-0.08 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $9.8M |
| Total DebtLower is stronger | $4.6M | — |
| Stockholders' EquityBook value | $21.2M | $37.4M |
| Total Assets | $32.4M | $42.7M |
| Debt / EquityLower = less leverage | 0.22× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | — | ||
| Q3 25 | — | $9.8M | ||
| Q2 25 | — | $4.0M | ||
| Q1 25 | — | $6.8M | ||
| Q3 24 | — | $9.9M |
| Q4 25 | $4.6M | — | ||
| Q3 25 | $4.8M | — | ||
| Q2 25 | $4.9M | — | ||
| Q1 25 | — | — | ||
| Q3 24 | — | — |
| Q4 25 | $21.2M | — | ||
| Q3 25 | $21.0M | $37.4M | ||
| Q2 25 | $20.4M | $10.9M | ||
| Q1 25 | — | $11.9M | ||
| Q3 24 | — | $15.8M |
| Q4 25 | $32.4M | — | ||
| Q3 25 | $32.2M | $42.7M | ||
| Q2 25 | $32.0M | $16.6M | ||
| Q1 25 | — | $17.3M | ||
| Q3 24 | — | $22.4M |
| Q4 25 | 0.22× | — | ||
| Q3 25 | 0.23× | — | ||
| Q2 25 | 0.24× | — | ||
| Q1 25 | — | — | ||
| Q3 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 | $-3.5M |
| 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 | — | ||
| Q3 25 | $399.8K | $-3.5M | ||
| Q2 25 | $-508.6K | $-1.8M | ||
| Q1 25 | — | $-2.2M | ||
| Q3 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $-551.1K | — | ||
| Q1 25 | — | — | ||
| Q3 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | -14.0% | — | ||
| Q1 25 | — | — | ||
| Q3 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 1.1% | — | ||
| Q1 25 | — | — | ||
| Q3 24 | — | — |
| Q4 25 | 0.78× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | -0.69× | — | ||
| Q1 25 | — | — | ||
| Q3 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% |
MPU
Segment breakdown not available.
