FatPipe, Inc. (NASDAQ:FATN) stock fell Wednesday, following a strong performance on Tuesday when the stock skyrocketed after the company reported solid third-quarter earnings.
The company reported a 30% year-over-year increase in total revenue and a 48% rise in monthly recurring billings, highlighting solid growth.
The broader market indices are also experiencing losses, adding pressure to shares as the Technology sector is down approximately 2.6%.
FATN Q3 Revenue and Billings Surge
FatPipe reported total revenue of $4.1 million for the third quarter of fiscal year 2026, reflecting a 30% growth compared to the same period last year. Additionally, the company achieved a 48% increase in monthly recurring billings, indicating strong demand for its subscription offerings.
The report highlighted that the company closed multiple large multi-site SD-WAN deployments across various sectors, including education and …