Company: NTWK
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001641172-25-010127
Chunk: 177

Company: NETSOL TECHNOLOGIES INC
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 2
Chunk 177
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 non-controlling interest in calculating gross adjusted EBITDA and then subtract out the income taxes, depreciation
and amortization and net interest expense attributable to the non-controlling interest to arrive at a net adjusted EBITDA.

Page 48

Our
reconciliation of the non-GAAP financial measures of adjusted EBITDA and non-GAAP earnings per basic and diluted share to the most comparable
GAAP measures for the three and nine months ended March 31, 2025 and 2024 are as follows:

    For
    the Three Months Ended March 31,  
    For
    the Nine Months Ended March 31, 

    2025  
    2024  
    2025  
    2024 

    Net Income (loss) attributable
    to NetSol 
    $1,423,968  
    $327,549  
    $347,721  
    $766,755 
  
    Non-controlling interest 
     410,462  
     (11,679) 
     518,212  
     822,993 
  
    Income taxes 
     151,334  
     146,569  
     712,765  
     418,517 
  
    Depreciation and amortization 
     363,503  
     391,290  
     1,102,085  
     1,351,239 
  
    Interest expense 
     194,742  
     289,677  
     689,347  
     856,016 
  
    Interest
    (income) 
     (294,655) 
     (376,466) 
     (1,593,594) 
     (1,259,464)
  
    EBITDA 
    $2,249,354  
    $766,940  
    $1,776,536  
    $2,956,056 
  
    Add back: 

    Non-cash
    stock-based compensation 
     39,750  
     149,088  
     134,884  
     260,875 
  
    Adjusted EBITDA, gross 
    $2,289,104  
    $916,028  
    $1,911,420  
    $3,216,931 
  
    Less non