Netsol Technologies Files Q1 2025 10-Q

TL;DR

Netsol Q1 24/25 10-Q is in. Check financials.

AI Summary

Netsol Technologies Inc. filed its 10-Q for the period ending September 30, 2024. The company reported revenue from licenses, subscriptions, and services. Specific financial figures for the quarter and comparative periods are detailed within the filing.

Why It Matters

This filing provides investors with an update on Netsol Technologies' financial performance and operational status for the first quarter of fiscal year 2025.

Risk Assessment

Risk Level: medium — The filing contains standard financial reporting for a public company, but the absence of specific performance metrics or significant disclosures warrants a medium risk assessment.

Key Numbers

• Q1 --06-30 2025 — Fiscal Quarter End (Indicates the reporting period for the 10-Q filing.)
• 2024-07-01 2024-09-30 — Current Quarter Dates (Defines the specific dates covered by the financial report.)
• 2023-07-01 2023-09-30 — Prior Year Quarter Dates (Provides a comparative period for financial analysis.)

Key Players & Entities

• NETSOL TECHNOLOGIES INC (company) — Filer
• 0001039280 (company) — Central Index Key
• 20240930 (date) — Period of Report
• 20241113 (date) — Filing Date

FAQ

Key Financial Figures

• $0.01 — nge on which registered Common Stock, $0.01 par value per share NTWK NASDAQ I

Filing Documents

• form10-q.htm (10-Q) — 1800KB
• ex31-1.htm (EX-31.1) — 13KB
• ex31-2.htm (EX-31.2) — 13KB
• ex32-1.htm (EX-32.1) — 7KB
• ex32-2.htm (EX-32.2) — 6KB
• form_001.jpg (GRAPHIC) — 8KB
• 0001493152-24-045055.txt ( ) — 9364KB
• ntwk-20240930.xsd (EX-101.SCH) — 57KB
• ntwk-20240930_cal.xml (EX-101.CAL) — 83KB
• ntwk-20240930_def.xml (EX-101.DEF) — 195KB
• ntwk-20240930_lab.xml (EX-101.LAB) — 405KB
• ntwk-20240930_pre.xml (EX-101.PRE) — 342KB
• form10-q_htm.xml (XML) — 2115KB

From the Filing

UNITED SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q (Mark One) Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended September 30, 2024 For the transition period from __________ to __________ Commission file number: 0-22773 NETSOL TECHNOLOGIES, INC. (Exact name of Registrant as specified in its charter) nevada 95-4627685 (State or other Jurisdiction of (I.R.S. Employer NO.) Incorporation or Organization) 16000 Ventura Blvd. , Suite 770 , Encino , CA 91436 (Address of principal executive offices) (Zip Code) (818) 222-9195 / (818) 222-9197 (Issuer's telephone/facsimile numbers, including area code) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of exchange on which registered Common Stock, $0.01 par value per share NTWK NASDAQ Indicate by check mark whether the issuer: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the issuer was required to file such reports), and (2) has been Yes No Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes No Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act (Check one): Large Accelerated Filer Accelerated reporting company Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act) Yes No The issuer had 12,413,872 shares issued and 11,474,841 outstanding of its $ .01 par value Common Stock and no Preferred Stock outstanding as of November 6, 2024. NETSOL TECHNOLOGIES, INC. Page No. PART I. FINANCIAL INFORMATION Item 1. Financial Statements (Unaudited) Condensed Consolidated Balance Sheets as of September 30, 2024 and June 30, 2024 3 Condensed Consolidated Statements of Operations for the Three Months Ended September 30, 2024 and 2023 4 Condensed Consolidated Statements of Comprehensive Income (Loss) for the Three Months Ended September 30, 2024 and 2023 5 Condensed Consolidated Statements of Stockholders' Equity for the Three Months Ended September 30, 2024 and 2023 6 Condensed Consolidated Statements of Cash Flows for the Three Months Ended September 30, 2024 and 2023 7 Notes to the Condensed Consolidated Financial Statements 9 Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 31 Item 3. Quantitative and Qualitative Disclosures about Market Risk 44 Item 4. Controls and Procedures 44 PART II. OTHER INFORMATION Item 1. Legal Proceedings 45 Item 1A Risk Factors 45 Item 2. Unregistered Sales of Equity and Use of Proceeds 45 Item 3. Defaults Upon Senior Securities 45 Item 4. Mine Safety Disclosures 45 Item 5. Other Information 45 Item 6. Exhibits 45 Page 2 PART I. FINANCIAL INFORMATION Item 1. Financial Statements (Unaudited) NETSOL TECHNOLOGIES, INC. AND SUBSIDIARIES Condensed Consolidated Balance Sheets (Unaudited) As of As of September 30, 2024 June 30, 2024 ASSETS Current assets: Cash and cash equivalents $ 24,525,956 $ 19,127,165 Accounts receivable, net of allowance of $ 15,533 and $ 398,809 5,936,063 13,049,614 Revenues in excess of billings, net of allowance of $ 460,743 and $ 116,148 12,743,571 12,684,518 Other current assets 3,328,112 2,600,786 Total current assets 46,533,702 47,462,083 Revenues in excess of billings, net - long term 866,388 954,029 Property and equipment, net 4,847,869 5,106,842 Right of use assets - operating leases 1,216,835 1,328,624 Other assets 32,341 32,340 Goodwill 9,302,524 9,302,524 Total assets $ 62,799,659 $ 64,186,442 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable and accrued expenses $ 8,414,790 $ 8,232,342 Current portion of loans and obligations under finance leases 6,443,937 6,276,125 Current portion of operating lease obligations 590,541 608,202 Unearned revenue 6,923,112 8,752,153 Total current liabilities 22,372,380 23

View Full Filing

View this 10-Q filing on SEC EDGAR