Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations (Unaudited)

v3.22.0.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2021
Dec. 31, 2020
Net Revenues:        
Total net revenues $ 15,472,962 $ 13,121,460 $ 28,893,723 $ 25,768,838
Cost of revenues:        
Salaries and consultants 5,661,917 5,294,662 11,324,327 9,821,311
Travel 282,836 159,174 496,968 262,926
Depreciation and amortization 728,868 713,749 1,494,603 1,420,998
Other 1,156,754 911,566 2,492,215 1,839,719
Total cost of revenues 7,830,375 7,079,151 15,808,113 13,344,954
Gross profit 7,642,587 6,042,309 13,085,610 12,423,884
Operating expenses:        
Selling and marketing 1,807,162 1,558,027 3,427,155 3,167,631
Depreciation and amortization 212,864 221,572 427,135 443,362
General and administrative 3,733,303 4,065,788 7,706,442 7,493,424
Research and development cost 235,390 110,419 510,620 196,408
Total operating expenses 5,988,719 5,955,806 12,071,352 11,300,825
Income from operations 1,653,868 86,503 1,014,258 1,123,059
Other income and (expenses)        
Gain (loss) on sale of assets (80,125) (52,531) (190,725) (74,273)
Interest expense (90,808) (94,241) (191,821) (197,568)
Interest income 316,253 210,854 759,386 411,675
Gain (loss) on foreign currency exchange transactions 901,016 13,981 2,185,164 310,022
Share of net loss from equity investment (79,818) (43,685) (240,783) (151,535)
Other income 19,668 45,365 22,697 132,637
Total other income (expenses) 986,186 79,743 2,343,918 430,958
Net income before income taxes 2,640,054 166,246 3,358,176 1,554,017
Income tax provision (201,506) (245,434) (369,133) (509,728)
Net income (loss) 2,438,548 (79,188) 2,989,043 1,044,289
Non-controlling interest (1,031,763) (162,916) (1,394,289) (568,839)
Net income (loss) attributable to NetSol $ 1,406,785 $ (242,104) $ 1,594,754 $ 475,450
Net income (loss) per share:        
Basic $ 0.13 $ (0.02) $ 0.14 $ 0.04
Diluted $ 0.13 $ (0.02) $ 0.14 $ 0.04
Weighted average number of shares outstanding        
Basic 11,244,539 11,580,030 11,249,372 11,683,631
Diluted 11,244,539 11,580,030 11,249,372 11,683,631
License [Member]        
Net Revenues:        
Total net revenues $ 1,955,331 $ 2,586,504 $ 1,966,047 $ 2,589,979
Subscription and support [Member]        
Net Revenues:        
Total net revenues 9,374,869 5,724,802 15,605,258 10,896,665
Service [Member]        
Net Revenues:        
Total net revenues $ 4,142,762 $ 4,810,154 $ 11,322,418 $ 12,282,194