Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations (Unaudited)

v3.22.4
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
 3 Months Ended 6 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2022
Dec. 31, 2021
Net Revenues:        
Total net revenues $ 12,390,358 $ 15,472,962 $ 25,096,477 $ 28,893,723
Cost of revenues:        
Salaries and consultants 6,942,171 5,661,917 13,028,906 11,324,327
Travel 635,298 282,836 1,027,643 496,968
Depreciation and amortization 693,278 728,868 1,347,327 1,494,603
Other 977,148 1,156,754 2,298,141 2,492,215
Total cost of revenues 9,247,895 7,830,375 17,702,017 15,808,113
Gross profit 3,142,463 7,642,587 7,394,460 13,085,610
Operating expenses:        
Selling and marketing 2,007,462 1,807,162 3,769,639 3,427,155
Depreciation and amortization 198,222 212,864 389,176 427,135
General and administrative 3,510,389 3,733,303 7,235,819 7,706,442
Research and development cost 472,904 235,390 942,531 510,620
Total operating expenses 6,188,977 5,988,719 12,337,165 12,071,352
Loss from operations (3,046,514) 1,653,868 (4,942,705) 1,014,258
Other income and (expenses)        
Gain (loss) on sale of assets 5,048 (80,125) 28,344 (190,725)
Interest expense (202,363) (90,808) (323,973) (191,821)
Interest income 309,906 316,253 741,763 759,386
Gain on foreign currency exchange transactions 657,223 901,016 1,972,928 2,185,164
Share of net loss from equity investment 5,133 (79,818) 5,133 (240,783)
Other income (expense) 89,660 19,668 91,980 22,697
Total other income (expenses) 864,607 986,186 2,516,175 2,343,918
Net income (loss) before income taxes (2,181,907) 2,640,054 (2,426,530) 3,358,176
Income tax provision (220,056) (201,506) (413,404) (369,133)
Net income (loss) (2,401,963) 2,438,548 (2,839,934) 2,989,043
Non-controlling interest 309,037 (1,031,763) 126,279 (1,394,289)
Net income (loss) attributable to NetSol $ (2,092,926) $ 1,406,785 $ (2,713,655) $ 1,594,754
Net income (loss) per share:        
Basic $ (0.19) $ 0.13 $ (0.24) $ 0.14
Diluted $ (0.19) $ 0.13 $ (0.24) $ 0.14
Weighted average number of shares outstanding        
Basic 11,270,199 11,244,539 11,263,869 11,249,372
Diluted 11,270,199 11,244,539 11,263,869 11,249,372
License [Member]        
Net Revenues:        
Total net revenues $ 15,884 $ 1,955,331 $ 265,844 $ 1,966,047
Subscription and Support [Member]        
Net Revenues:        
Total net revenues 6,502,669 9,374,869 12,519,503 15,605,258
Service [Member]        
Net Revenues:        
Total net revenues $ 5,871,805 $ 4,142,762 $ 12,311,130 $ 11,322,418