vs
Side-by-side financial comparison of Fatpipe Inc (FATN) and Zhibao Technology Inc. (ZBAO). Click either name above to swap in a different company.
Fatpipe Inc is the larger business by last-quarter revenue ($4.1M vs $4.1M, roughly 1.0× Zhibao Technology Inc.). Fatpipe Inc runs the higher net margin — 7.6% vs -2.1%, a 9.7% gap on every dollar of revenue. On growth, Fatpipe Inc posted the faster year-over-year revenue change (3.2% vs -79.7%).
FATN vs ZBAO — Head-to-Head
Income Statement — Q3 FY2026 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $4.1M | $4.1M |
| Net Profit | $310.7K | $-85.5K |
| Gross Margin | 87.7% | 34.8% |
| Operating Margin | 9.8% | 2.2% |
| Net Margin | 7.6% | -2.1% |
| Revenue YoY | 3.2% | -79.7% |
| Net Profit YoY | 816.0% | 3.2% |
| 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 | $4.1M | ||
| Q3 25 | $4.0M | — | ||
| Q2 25 | $3.9M | — | ||
| Q4 24 | — | $20.1M | ||
| Q4 23 | — | $11.9M |
| Q4 25 | $310.7K | $-85.5K | ||
| Q3 25 | $-43.4K | — | ||
| Q2 25 | $741.2K | — | ||
| Q4 24 | — | $-88.3K | ||
| Q4 23 | — | $-1.2M |
| Q4 25 | 87.7% | 34.8% | ||
| Q3 25 | 92.1% | — | ||
| Q2 25 | 94.2% | — | ||
| Q4 24 | — | 29.1% | ||
| Q4 23 | — | 35.7% |
| Q4 25 | 9.8% | 2.2% | ||
| Q3 25 | -0.0% | — | ||
| Q2 25 | 25.5% | — | ||
| Q4 24 | — | 2.6% | ||
| Q4 23 | — | -9.9% |
| Q4 25 | 7.6% | -2.1% | ||
| Q3 25 | -1.1% | — | ||
| Q2 25 | 18.8% | — | ||
| Q4 24 | — | -0.4% | ||
| Q4 23 | — | -10.1% |
| Q4 25 | $0.02 | — | ||
| Q3 25 | $0.00 | — | ||
| Q2 25 | $0.05 | — | ||
| Q4 24 | — | $0.00 | ||
| Q4 23 | — | $-0.04 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $3.8M |
| Total DebtLower is stronger | $4.6M | — |
| Stockholders' EquityBook value | $21.2M | $6.8M |
| Total Assets | $32.4M | $39.1M |
| Debt / EquityLower = less leverage | 0.22× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $3.8M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q4 24 | — | $3.9M | ||
| Q4 23 | — | $779.8K |
| Q4 25 | $4.6M | — | ||
| Q3 25 | $4.8M | — | ||
| Q2 25 | $4.9M | — | ||
| Q4 24 | — | — | ||
| Q4 23 | — | — |
| Q4 25 | $21.2M | $6.8M | ||
| Q3 25 | $21.0M | — | ||
| Q2 25 | $20.4M | — | ||
| Q4 24 | — | $10.0M | ||
| Q4 23 | — | $2.2M |
| Q4 25 | $32.4M | $39.1M | ||
| Q3 25 | $32.2M | — | ||
| Q2 25 | $32.0M | — | ||
| Q4 24 | — | $43.2M | ||
| Q4 23 | — | $33.0M |
| Q4 25 | 0.22× | — | ||
| Q3 25 | 0.23× | — | ||
| Q2 25 | 0.24× | — | ||
| Q4 24 | — | — | ||
| Q4 23 | — | — |
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 | $-241.5K |
| 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 | $-241.5K | ||
| Q3 25 | $399.8K | — | ||
| Q2 25 | $-508.6K | — | ||
| Q4 24 | — | $10.2M | ||
| Q4 23 | — | $12.1M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $-551.1K | — | ||
| Q4 24 | — | — | ||
| Q4 23 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | -14.0% | — | ||
| Q4 24 | — | — | ||
| Q4 23 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 1.1% | — | ||
| Q4 24 | — | — | ||
| Q4 23 | — | — |
| Q4 25 | 0.78× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | -0.69× | — | ||
| Q4 24 | — | — | ||
| Q4 23 | — | — |
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% |
ZBAO
Segment breakdown not available.
