Quarterly report [Sections 13 or 15(d)]

PROPERTY AND EQUIPMENT

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PROPERTY AND EQUIPMENT
 9 Months Ended
Mar. 31, 2026
Property, Plant, and Equipment [Abstract]  
PROPERTY AND EQUIPMENT

NOTE 9 - PROPERTY AND EQUIPMENT

 

Property and equipment consisted of the following:

 

    As of     As of  
    March 31, 2026     June 30, 2025  
             
Office Furniture and Equipment   $ 2,796,062     $ 2,437,002  
Computer Equipment     9,663,469       9,513,181  
Assets Under Capital Leases     140,213       145,197  
Building     3,590,931       3,532,475  
Land     910,300       894,698  
Autos     2,088,849       1,603,271  
Improvements     266,418       217,230  
Subtotal     19,456,242       18,343,054  
Accumulated Depreciation     (13,897,833 )     (13,269,682 )
Property and Equipment, Net   $ 5,558,409     $ 5,073,372  

 

For the three and nine months ended March 31, 2026, depreciation expense totaled $307,416 and $931,771, respectively. Of these amounts, $192,897 and $591,694, respectively, are reflected in cost of revenues. For the three and nine months ended March 31, 2025, depreciation expense totaled $363,503 and $1,102,085, respectively. Of these amounts, $240,444 and $706,876, respectively, are reflected in cost of revenues.

 

 

NETSOL TECHNOLOGIES, INC.

Notes to Condensed Consolidated Financial Statements

March 31, 2026

(Unaudited)

 

Following is a summary of fixed assets held under finance leases as of March 31, 2026 and June 30, 2025:

 

    As of     As of  
    March 31, 2026     June 30, 2025  
Vehicles   $ 140,213     $ 145,197  
Total     140,213       145,197  
Less: Accumulated Depreciation - Net     (71,478 )     (47,807 )
Fixed assets held under finance leases, Total   $ 68,735     $ 97,390  

 

Finance lease term and discount rate were as follows:

 

    As of     As of  
    March 31, 2026     June 30, 2025  
                 
Weighted average remaining lease term - Finance leases      1 Years        1.75 Years  
                 
Weighted average discount rate - Finance leases     11.3 %     11.3 %