Annual report [Section 13 and 15(d), not S-K Item 405]

PROPERTY AND EQUIPMENT

v3.26.3
PROPERTY AND EQUIPMENT
 12 Months Ended
Jun. 30, 2026
Property, Plant, and Equipment [Abstract]  
PROPERTY AND EQUIPMENT

NOTE 8 - PROPERTY AND EQUIPMENT

 

Property and equipment consisted of the following:

 

    As of     As of  
    June 30, 2026     June 30, 2025  
             
Office Furniture and Equipment   $ 2,864,962     $ 2,437,002  
Computer Equipment     9,780,261       9,513,181  
Assets Under Capital Leases     140,273       145,197  
Building     3,606,143       3,532,475  
Land     914,360       894,698  
Autos     2,349,412       1,603,271  
Improvements     267,292       217,230  
Subtotal     19,922,703       18,343,054  
Accumulated Depreciation     (14,239,201 )     (13,269,682 )
Property and Equipment, Net   $ 5,683,502     $ 5,073,372  

 

For the years ended June 30, 2026 and 2025, depreciation expense totaled $1,238,421 and $1,463,783, respectively. Of these amounts, $783,692 and $952,331, respectively, are reflected in cost of revenues.

 

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

 

    As of     As of  
    June 30, 2026     June 30, 2025  
Vehicles   $ 140,273     $ 145,197  
Total     140,273       145,197  
Less: Accumulated Depreciation - Net     (79,973 )     (47,807 )
Fixed assets held under finance leases, Total    $ 60,300     $ 97,390  

 

 

NETSOL TECHNOLOGIES, INC.

Notes to Consolidated Financial Statements

June 30, 2026 and 2025

 

Finance lease term and discount rate were as follows:

 

    As of     As of  
    June 30, 2026     June 30, 2025  
             
Weighted average remaining lease term - Finance leases     0.75 Years       1.75 Years  
                 
Weighted average discount rate - Finance leases     11.3 %     11.3 %