Netsol Technologies Files 2024 Annual Report

Ticker: NTWK · Form: 10-K · Filed: Sep 30, 2024 · CIK: 1039280

Netsol Technologies Inc 10-K Filing Summary
FieldDetail
CompanyNetsol Technologies Inc (NTWK)
Form Type10-K
Filed DateSep 30, 2024
Risk Levellow
Pages14
Reading Time17 min
Key Dollar Amounts$0.01, $2.20
Sentimentneutral

Sentiment: neutral

Topics: annual-report, sec-filing, compliance

Related Tickers: NTWK

TL;DR

Netsol Tech (NTWK) filed its 2024 10-K, all good on reporting. Check financials for details.

AI Summary

Netsol Technologies, Inc. filed its annual report for the fiscal year ended June 30, 2024. The company is registered with the SEC under file number 0-22773 and its common stock trades on NASDAQ under the symbol NTWK. The filing indicates that Netsol Technologies has met all reporting requirements for the past 12 months and 90 days.

Why It Matters

This 10-K filing provides a comprehensive overview of Netsol Technologies' financial performance and operational status for the fiscal year 2024, crucial for investors assessing the company's health.

Risk Assessment

Risk Level: low — The filing is a standard annual report and does not contain immediate red flags, indicating routine compliance.

Key Players & Entities

  • NETSOL TECHNOLOGIES, INC. (company) — Registrant
  • June 30, 2024 (date) — Fiscal year end
  • 0-22773 (other) — Commission File Number
  • NTWK (other) — Trading Symbol
  • NASDAQ (company) — Stock Exchange

FAQ

What is the primary purpose of this Form 10-K filing?

The primary purpose of this Form 10-K filing is to provide an annual report for the fiscal year ended June 30, 2024, detailing the company's financial performance and operations.

What is the Commission File Number for Netsol Technologies, Inc.?

The Commission File Number for Netsol Technologies, Inc. is 0-22773.

On which stock exchange are Netsol Technologies, Inc.'s common stocks registered?

Netsol Technologies, Inc.'s common stock is registered on the NASDAQ.

What is the trading symbol for Netsol Technologies, Inc. common stock?

The trading symbol for Netsol Technologies, Inc. common stock is NTWK.

Has Netsol Technologies, Inc. met its filing requirements for the past 12 months?

Yes, the filing indicates that Netsol Technologies, Inc. has filed all reports required by Section 13 or 15(d) of the Exchange Act during the past 12 months and has been subject to such filing requirements for the past 90 days.

Filing Stats: 4,234 words · 17 min read · ~14 pages · Grade level 17.6 · Accepted 2024-09-30 14:11:19

Key Financial Figures

  • $0.01 — nge on which registered Common Stock, $0.01 par value per share NTWK NASDAQ I
  • $2.20 — k as reported on NASDAQ Capital Market ($2.20 per share) on December 31, 2023, the la

Filing Documents

Business

Business 1 Item 1A

Risk Factors

Risk Factors 12 Item 1B Unresolved Staff Comments 12 Item 1C Cybersecurity 13 Item 2

Properties

Properties 14 Item 3

Legal Proceedings

Legal Proceedings 14 Item 4 Mine Safety Disclosures 14 PART II Item 5 Market for Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 15 Item 6 [Reserved] 15 Item 7

Management's Discussion and Analysis

Management's Discussion and Analysis of Financial Condition and Results of Operations 16 Item 7A

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 32 Item 8

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 32 Item 9 Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 32 Item 9A

Controls and Procedures

Controls and Procedures 32 Item 9B Other Information 32 Item 9C Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 32 PART III Item 10 Directors, Executive Officers and Corporate Governance 33 Item 11

Executive Compensation

Executive Compensation 38 Item 12

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 51 Item 13 Certain Relationships and Related Transactions, and Director Independence 52 Item 14 Principal Accountant Fees and Services 52 PART IV Item 15 Exhibits and Financial Statement Schedules 54 i NOTE ABOUT FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K contains forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 relating to the development of the Company's products and services and future operation results, including statements regarding the Company that are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. The words "believe," "expect," "anticipate," "intend," variations of such words, and similar expressions, identify forward looking statements, but their absence does not mean that the statement is not forward looking. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Factors that could affect the Company's actual results include the progress and costs of the development of products and services and the timing of the market acceptance. Forward looking statements may appear throughout this report, including without limitation, the following sections: Item 1 "Business," and Item 7 "Management's Discussion and Analysis of Financial Condition and Results of Operations." We undertake no obligation to revise or publicly release the results of any revision to these forward-looking statements, except as required by law. Given these risk and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. As used herein, "NETSOL," "the Company", "we", "our," and similar terms include NetSol Technologies, Inc. and its subsidiaries, unless the context indicates otherwise. PART 1 ITEM

BUSINESS

BUSINESS Company Business Model NETSOL specializes in providing scalable and customizable technology solutions primarily to the global asset finance and leasing industry. Our value proposition lies in delivering innovative technologies that enhance operational efficiency and productivity. The Company also provides a range of services that are not limited to the financial services industry. We reach our customers through a combination of direct sales efforts, strategic partnerships with associations as well as via a robust online presence. The Company generates its core revenue from the following primary sources: (1) software licenses, (2) services, which include implementation and consulting services, and (3) subscription and support, which includes post contract support, of its enterprise software solutions for the finance and leasing industry. The Company offers its solutions using the same underlying technology via two models: a traditional on-premises licensing model and a subscription model. The on-premises model involves the sale or license of software on a perpetual basis to customers who take possession of the software and install and maintain the software on their own hardware. Under the subscription delivery model, the Company provides access to its software on a hosted basis as a service and customers generally do not have the contractual right to take possession of the software or solution(s). Expertise Our expertise in enterprise technology and financial application development has helped us emerge as a global player in the finance and leasing industry and enabled us to secure a broad footprint across the major markets of North America, Asia Pacific and Europe. The Asia Pacific region has particularly benefitted from the organic growth in the fast-developing leasing automation industry, which is still nascent as per Western standards. Domain Experience With our rich history of innovation, NETSOL is a dynamic leader and has been able to a

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