Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

v3.21.2
Consolidated Statements of Operations - USD ($)
 12 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Net Revenues:    
Total net revenues $ 54,920,615 $ 56,372,319
Cost of revenues:    
Salaries and consultants 20,969,298 18,821,738
Travel 663,403 4,181,742
Depreciation and amortization 2,990,689 2,897,371
Other 3,944,197 3,508,098
Total cost of revenues 28,567,587 29,408,949
Gross profit 26,353,028 26,963,370
Operating expenses:    
Selling and marketing 6,555,004 6,450,663
Depreciation and amortization 965,625 834,583
General and administrative 15,437,382 17,138,832
Research and development cost 674,168 1,468,954
Total operating expenses 23,632,179 25,893,032
Income from operations 2,720,849 1,070,338
Other income and (expenses)    
Gain (loss) on sale of assets (191,935) 23,103
Interest expense (394,289) (346,856)
Interest income 1,017,432 1,569,536
Gain (loss) on foreign currency exchange transactions (597,433) 398,610
Share of net loss from equity investment (253,819) (605,864)
Other income 987,444 224,224
Total other income (expenses) 567,400 1,262,753
Net income before income taxes 3,288,249 2,333,091
Income tax provision (1,026,617) (1,141,068)
Net income 2,261,632 1,192,023
Non-controlling interest (483,375) (254,942)
Net income attributable to NetSol $ 1,778,257 $ 937,081
Net income per share:    
Net income per common share - Basic $ 0.15 $ 0.08
Net income per common share - Diluted $ 0.15 $ 0.08
Weighted average number of shares outstanding    
Basic 11,499,983 11,734,648
Diluted 11,499,983 11,784,414
License Fees [Member]    
Net Revenues:    
Total net revenues $ 6,249,924 $ 3,260,891
Subscription and Support [Member]    
Net Revenues:    
Total net revenues 22,173,745 20,254,917
Services [Member]    
Net Revenues:    
Total net revenues 26,448,171 32,555,690
Services - Related Party [Member]    
Net Revenues:    
Total net revenues $ 48,775 $ 300,821