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Side-by-side financial comparison of Fatpipe Inc (FATN) and Seer, Inc. (SEER). Click either name above to swap in a different company.
Seer, Inc. is the larger business by last-quarter revenue ($4.2M vs $4.1M, roughly 1.0× Fatpipe Inc). Fatpipe Inc runs the higher net margin — 7.6% vs -380.7%, a 388.3% gap on every dollar of revenue. On growth, Seer, Inc. posted the faster year-over-year revenue change (5.0% vs 3.2%).
Seer, Inc. is an American biotechnology company headquartered in Redwood City, California. Established in 2017, the company develops technologies for proteomics research.
FATN vs SEER — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $4.1M | $4.2M |
| Net Profit | $310.7K | $-16.0M |
| Gross Margin | 87.7% | 52.0% |
| Operating Margin | 9.8% | -413.8% |
| Net Margin | 7.6% | -380.7% |
| Revenue YoY | 3.2% | 5.0% |
| Net Profit YoY | 816.0% | 26.4% |
| 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 | $4.2M | ||
| Q3 25 | $4.0M | $4.1M | ||
| Q2 25 | $3.9M | $4.1M | ||
| Q1 25 | — | $4.2M | ||
| Q4 24 | — | $4.0M | ||
| Q3 24 | — | $4.0M | ||
| Q2 24 | — | $3.1M | ||
| Q1 24 | — | $3.1M |
| Q4 25 | $310.7K | $-16.0M | ||
| Q3 25 | $-43.4K | $-18.2M | ||
| Q2 25 | $741.2K | $-19.4M | ||
| Q1 25 | — | $-19.9M | ||
| Q4 24 | — | $-21.7M | ||
| Q3 24 | — | $-21.3M | ||
| Q2 24 | — | $-22.9M | ||
| Q1 24 | — | $-20.7M |
| Q4 25 | 87.7% | 52.0% | ||
| Q3 25 | 92.1% | 51.2% | ||
| Q2 25 | 94.2% | 52.1% | ||
| Q1 25 | — | 49.0% | ||
| Q4 24 | — | 50.6% | ||
| Q3 24 | — | 48.1% | ||
| Q2 24 | — | 56.3% | ||
| Q1 24 | — | 44.4% |
| Q4 25 | 9.8% | -413.8% | ||
| Q3 25 | -0.0% | -469.4% | ||
| Q2 25 | 25.5% | -506.8% | ||
| Q1 25 | — | -493.0% | ||
| Q4 24 | — | -587.2% | ||
| Q3 24 | — | -603.3% | ||
| Q2 24 | — | -882.0% | ||
| Q1 24 | — | -821.7% |
| Q4 25 | 7.6% | -380.7% | ||
| Q3 25 | -1.1% | -442.5% | ||
| Q2 25 | 18.8% | -479.5% | ||
| Q1 25 | — | -474.4% | ||
| Q4 24 | — | -543.6% | ||
| Q3 24 | — | -529.0% | ||
| Q2 24 | — | -743.8% | ||
| Q1 24 | — | -674.5% |
| Q4 25 | $0.02 | — | ||
| Q3 25 | $0.00 | — | ||
| Q2 25 | $0.05 | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $-0.35 | ||
| Q2 24 | — | $-0.35 | ||
| Q1 24 | — | $-0.32 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $47.3M |
| Total DebtLower is stronger | $4.6M | — |
| Stockholders' EquityBook value | $21.2M | $259.3M |
| Total Assets | $32.4M | $296.1M |
| Debt / EquityLower = less leverage | 0.22× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $47.3M | ||
| Q3 25 | — | $45.0M | ||
| Q2 25 | — | $37.9M | ||
| Q1 25 | — | $52.4M | ||
| Q4 24 | — | $40.8M | ||
| Q3 24 | — | $37.6M | ||
| Q2 24 | — | $31.9M | ||
| Q1 24 | — | $54.4M |
| 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 | $259.3M | ||
| Q3 25 | $21.0M | $271.8M | ||
| Q2 25 | $20.4M | $288.3M | ||
| Q1 25 | — | $311.0M | ||
| Q4 24 | — | $327.6M | ||
| Q3 24 | — | $344.7M | ||
| Q2 24 | — | $364.7M | ||
| Q1 24 | — | $383.6M |
| Q4 25 | $32.4M | $296.1M | ||
| Q3 25 | $32.2M | $308.6M | ||
| Q2 25 | $32.0M | $322.5M | ||
| Q1 25 | — | $347.3M | ||
| Q4 24 | — | $366.6M | ||
| Q3 24 | — | $383.4M | ||
| Q2 24 | — | $406.6M | ||
| Q1 24 | — | $422.0M |
| 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 | $-10.8M |
| Free Cash FlowOCF − Capex | — | $-11.1M |
| FCF MarginFCF / Revenue | — | -264.2% |
| Capex IntensityCapex / Revenue | — | 7.0% |
| Cash ConversionOCF / Net Profit | 0.78× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-46.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $240.9K | $-10.8M | ||
| Q3 25 | $399.8K | $-7.6M | ||
| Q2 25 | $-508.6K | $-14.7M | ||
| Q1 25 | — | $-11.4M | ||
| Q4 24 | — | $-11.5M | ||
| Q3 24 | — | $-14.1M | ||
| Q2 24 | — | $-10.1M | ||
| Q1 24 | — | $-10.5M |
| Q4 25 | — | $-11.1M | ||
| Q3 25 | — | $-7.8M | ||
| Q2 25 | $-551.1K | $-15.2M | ||
| Q1 25 | — | $-12.1M | ||
| Q4 24 | — | $-12.0M | ||
| Q3 24 | — | $-16.3M | ||
| Q2 24 | — | $-11.2M | ||
| Q1 24 | — | $-11.2M |
| Q4 25 | — | -264.2% | ||
| Q3 25 | — | -190.5% | ||
| Q2 25 | -14.0% | -375.9% | ||
| Q1 25 | — | -287.1% | ||
| Q4 24 | — | -299.8% | ||
| Q3 24 | — | -404.7% | ||
| Q2 24 | — | -366.0% | ||
| Q1 24 | — | -365.6% |
| Q4 25 | — | 7.0% | ||
| Q3 25 | — | 6.9% | ||
| Q2 25 | 1.1% | 14.0% | ||
| Q1 25 | — | 15.6% | ||
| Q4 24 | — | 13.4% | ||
| Q3 24 | — | 54.4% | ||
| Q2 24 | — | 38.2% | ||
| Q1 24 | — | 24.6% |
| 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% |
SEER
Segment breakdown not available.
