Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

v3.22.2.2
Consolidated Statements of Operations - USD ($)
 12 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Net Revenues:    
Total net revenues $ 57,247,979 $ 54,920,615
Cost of revenues:    
Salaries and consultants 24,528,155 20,969,298
Travel 1,036,623 663,403
Depreciation and amortization 2,949,093 2,990,689
Other 4,996,934 3,944,197
Total cost of revenues 33,510,805 28,567,587
Gross profit 23,737,174 26,353,028
Operating expenses:    
Selling and marketing 7,220,022 6,555,004
Depreciation and amortization 863,180 965,625
General and administrative 15,390,141 15,437,382
Research and development cost 1,342,154 674,168
Total operating expenses 24,815,497 23,632,179
Income (loss) from operations (1,078,323) 2,720,849
Other income and (expenses)    
Loss on sale of assets (205,288) (191,935)
Interest expense (369,801) (394,289)
Interest income 1,655,883 1,017,432
Gain (loss) on foreign currency exchange transactions 4,327,590 (597,433)
Share of net loss from equity investment (2,021,480) (253,819)
Other income (expense) (218,840) 987,444
Total other income (expenses) 3,168,064 567,400
Net income before income taxes 2,089,741 3,288,249
Income tax provision (988,938) (1,026,617)
Net income 1,100,803 2,261,632
Non-controlling interest (1,951,959) (483,375)
Net income (loss) attributable to NetSol $ (851,156) $ 1,778,257
Net income (loss) per share:    
Basic $ (0.08) $ 0.15
Diluted $ (0.08) $ 0.15
Weighted average number of shares outstanding    
Basic 11,250,219 11,499,983
Diluted 11,250,219 11,499,983
License [Member]    
Net Revenues:    
Total net revenues $ 4,539,260 $ 6,249,924
Subscription And Support [Member]    
Net Revenues:    
Total net revenues 28,284,759 22,173,745
Service [Member]    
Net Revenues:    
Total net revenues 24,423,960 26,448,171
Related Party Service [Member]    
Net Revenues:    
Total net revenues $ 48,775