Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations (Unaudited)

v3.21.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Mar. 31, 2021
Mar. 31, 2020
Net Revenues:        
Total net revenues $ 13,783,996 $ 13,530,837 $ 39,552,834 $ 42,793,272
Cost of revenues:        
Salaries and consultants 5,372,302 4,850,438 15,193,613 13,931,274
Travel 151,075 1,052,033 414,001 3,967,591
Depreciation and amortization 759,768 737,637 2,180,766 2,191,654
Other 1,075,403 868,491 2,915,122 2,767,927
Total cost of revenues 7,358,548 7,508,599 20,703,502 22,858,446
Gross profit 6,425,448 6,022,238 18,849,332 19,934,826
Operating expenses:        
Selling and marketing 1,595,967 1,587,821 4,763,598 5,189,785
Depreciation and amortization 272,075 206,035 715,437 623,901
General and administrative 3,860,509 4,151,394 11,353,933 12,638,797
Research and development cost 234,678 453,050 431,086 1,580,625
Total operating expenses 5,963,229 6,398,300 17,264,054 20,033,108
Income (loss) from operations 462,219 (376,062) 1,585,278 (98,282)
Other income and (expenses)        
Gain (loss) on sale of assets (53,012) 129 (127,285) 368
Interest expense (98,656) (94,395) (296,224) (246,064)
Interest income 231,979 448,368 643,654 1,283,279
Gain (loss) on foreign currency exchange transactions (1,825,349) 1,770,894 (1,515,327) 71,765
Share of net loss from equity investment (80,953) (78,502) (232,488) (432,522)
Other income 521,758 17,012 654,395 243,325
Total other income (expenses) (1,304,233) 2,063,506 (873,275) 920,151
Net income (loss) before  income taxes (842,014) 1,687,444 712,003 821,869
Income tax provision (133,156) (218,351) (642,884) (1,067,099)
Net income (loss) (975,170) 1,469,093 69,119 (245,230)
Non-controlling interest 351,939 (468,286) (216,900) 4,065
Net income (loss) attributable to NetSol $ (623,231) $ 1,000,807 $ (147,781) $ (241,165)
Net income (loss) per share:        
Net income (loss) per common share - Basic $ (0.05) $ 0.09 $ (0.01) $ (0.02)
Net income (loss) per common share - Diluted $ (0.05) $ 0.09 $ (0.01) $ (0.02)
Weighted average number of shares outstanding        
Basic 11,343,406 11,753,063 11,571,878 11,713,827
Diluted 11,343,406 11,753,063 11,571,878 11,713,827
License Fees [Member]        
Net Revenues:        
Total net revenues $ 2,120,963 $ 93,076 $ 4,710,942 $ 2,733,998
Subscription and Support [Member]        
Net Revenues:        
Total net revenues 5,674,776 5,153,692 16,571,441 14,864,804
Services [Member]        
Net Revenues:        
Total net revenues 5,988,257 8,222,227 18,270,451 24,992,271
Services - Related Party [Member]        
Net Revenues:        
Total net revenues $ 61,842 $ 202,199