Ashwath Bhat

Cofounder, Fractal

Search every verified Ashwath Bhat interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Ashwath Bhat, CFO of Fractal Analytics, discussed the company’s financial performance and strategy in several media appearances around its 2026 IPO and subsequent quarters. In February 2026, following the company’s listing, Bhat addressed margin outlook, stating that gross margins have traditionally been in the 45–46% range and are expected to remain there or increase, while adjusted EBITDA margins around 40% are also expected to stay stable or rise. He attributed fluctuations in reported EBITDA margins to ESOP costs, which he said are decreasing as a fraction of revenue. Bhat also discussed Fractal Alpha, the company’s incubation platform, noting its growth of roughly 70–80% with gross margins near 70%, and said losses in that business have narrowed significantly, with some elements expected to break even within the next year. In May 2026, Bhat commented on the company’s Q4 results, highlighting an EBIT margin expansion of nearly 500 basis points driven by operational efficiency, with expenses down 2.2% and revenue up 3.7%. He noted that growth was led by healthcare, which saw an 82% year-on-year uptick, and BFSI, which grew 42%. Bhat also addressed growth expectations for fiscal 2027, saying that quarterly growth rates should return to a normalized range of 20–25% once certain client-specific issues in the TMT vertical are lapped. In earlier podcast appearances, Bhat discussed the role of AI in finance, describing it as a tool for automating tasks like contract review and expense management, and argued that the choice between growth and profitability is a “false choice,” suggesting both can be pursued simultaneously.