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Financials

v3.25.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Mar. 31, 2025
Jun. 30, 2024
Current assets:    
Cash and cash equivalents $ 18,774,739 $ 19,127,165
Accounts receivable, net of allowance of $37,794 and $398,809 5,443,498 13,049,614
Revenues in excess of billings, net of allowance of $1,126,734 and $116,148 14,727,410 12,684,518
Other current assets 3,465,893 2,600,786
Total current assets 42,411,540 47,462,083
Revenues in excess of billings, net - long term 697,486 954,029
Property and equipment, net 4,768,844 5,106,842
Right of use assets - operating leases 930,847 1,328,624
Other assets 32,338 32,340
Goodwill 9,302,524 9,302,524
Total assets 58,143,579 64,186,442
Current liabilities:    
Accounts payable and accrued expenses 7,097,343 8,232,342
Current portion of loans and obligations under finance leases 8,459,991 6,276,125
Current portion of operating lease obligations 475,888 608,202
Unearned revenue 2,705,414 8,752,153
Total current liabilities 18,738,636 23,868,822
Loans and obligations under finance leases; less current maturities 86,800 95,771
Operating lease obligations; less current maturities 422,350 688,749
Total liabilities 19,247,786 24,653,342
Stockholders’ equity:    
Preferred stock, $.01 par value; 500,000 shares authorized;
Common stock, $.01 par value; 14,500,000 shares authorized; 12,648,574 shares issued and 11,709,543  outstanding as of March 31, 2025, 12,359,922 shares issued and 11,420,891 outstanding as of June 30, 2024 126,489 123,602
Additional paid-in-capital 129,366,638 128,783,865
Treasury stock (at cost, 939,031 shares as of March 31, 2025 and June 30, 2024) (3,920,856) (3,920,856)
Accumulated deficit (43,864,592) (44,212,313)
Other comprehensive loss (46,253,619) (45,935,616)
Total NetSol stockholders’ equity 35,454,060 34,838,682
Non-controlling interest 3,441,733 4,694,418
Total stockholders’ equity 38,895,793 39,533,100
Total liabilities and stockholders’ equity $ 58,143,579 $ 64,186,442

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v3.25.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
 3 Months Ended 9 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Mar. 31, 2025
Mar. 31, 2024
Net Revenues:        
Total net revenues $ 17,543,957 $ 15,464,516 $ 47,679,116 $ 44,944,638
Cost of revenues 8,802,184 7,989,696 25,452,890 24,132,064
Gross profit 8,741,773 7,474,820 22,226,226 20,812,574
Operating expenses:        
Selling, general and administrative 6,883,587 5,811,335 20,921,530 17,051,798
Research and development cost 304,788 345,582 998,406 1,065,412
Total operating expenses 7,188,375 6,156,917 21,919,936 18,117,210
Income (loss) from operations 1,553,398 1,317,903 306,290 2,695,364
Other income and (expenses)        
Interest expense (194,742) (289,677) (689,347) (856,016)
Interest income 294,655 376,466 1,593,594 1,259,464
Gain (loss) on foreign currency exchange transactions 321,622 (963,887) 165,775 (1,112,757)
Other income 10,831 21,634 202,386 22,210
Total other income (expenses) 432,366 (855,464) 1,272,408 (687,099)
Net income before  income taxes 1,985,764 462,439 1,578,698 2,008,265
Income tax provision (151,334) (146,569) (712,765) (418,517)
Net income 1,834,430 315,870 865,933 1,589,748
Non-controlling interest (410,462) 11,679 (518,212) (822,993)
Net income attributable to NetSol $ 1,423,968 $ 327,549 $ 347,721 $ 766,755
Net income per share:        
Basic $ 0.12 $ 0.03 $ 0.03 $ 0.07
Diluted $ 0.12 $ 0.03 $ 0.03 $ 0.07
Weighted average number of shares outstanding        
Basic 11,683,408 11,390,888 11,531,365 11,369,778
Diluted 11,683,408 11,430,493 11,531,365 11,409,383
License [Member]        
Net Revenues:        
Total net revenues $ 1,198 $ 558,340 $ 75,115 $ 4,829,242
Subscription and Support [Member]        
Net Revenues:        
Total net revenues 7,888,360 7,140,358 24,723,460 20,480,382
Service [Member]        
Net Revenues:        
Total net revenues $ 9,654,399 $ 7,765,818 $ 22,880,541 $ 19,635,014

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v3.25.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net income $ 865,933 $ 1,589,748
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 1,102,085 1,351,239
Provision for bad debts 1,062,515 9,739
Gain on sale of assets (28,320) (1,154)
Stock based compensation 134,884 260,875
Changes in operating assets and liabilities:    
Accounts receivable 6,408,397 (3,922,773)
Revenues in excess of billing (1,411,983) (3,904,609)
Other current assets (344,493) (1,525)
Accounts payable and accrued expenses (1,136,533) 77,541
Unearned revenue (6,646,170) 938,242
Net cash provided by (used in) operating activities 6,315 (3,602,677)
Cash flows from investing activities:    
Purchases of property and equipment (897,743) (948,337)
Sales of property and equipment 63,577 125,886
Purchase of subsidiary shares (8,878)
Net cash used in investing activities (843,044) (822,451)
Cash flows from financing activities:    
Proceeds from the exercise of stock options and warrants 473,000
Dividend paid by subsidiary to non-controlling interest (306,799)
Purchase of subsidiary treasury stock (1,503,662)
Proceeds from bank loans 2,451,256 340,847
Payments on finance lease obligations and loans - net (247,496) (307,235)
Net cash provided by financing activities 866,299 33,612
Effect of exchange rate changes (381,996) 1,196,904
Net increase (decrease) in cash and cash equivalents (352,426) (3,194,612)
Cash and cash equivalents at beginning of the period 19,127,165 15,533,254
Cash and cash equivalents at end of period $ 18,774,739 $ 12,338,642

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