Company: NTWK
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001641172-25-010127
Chunk: 133

Company: NETSOL TECHNOLOGIES INC
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 8
Chunk 133
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31, 2024. The increase in non-controlling interest is primarily due to the increase in net income
of NetSol PK.

Net
income (loss) attributable to NetSol

The
net income was $1,423,968 for the three months ended March 31, 2025 compared to $327,549 for the three months ended March 31, 2024. This
is an increase of $1,096,419 with an increase of $1,039,042 on a constant currency basis, compared to the prior year. For the three months
ended March 31, 2025, net income per share was $0.12 for basic and diluted shares compared to net income per share of $0.03 for basic
and diluted shares for the three months ended March 31, 2024.

Page 43

Nine
Months Ended March 31, 2025 Compared to the Nine Months Ended March 31, 2024

The
following table sets forth the items in our unaudited condensed consolidated statement of operations for the nine months ended March
31, 2025 and 2024 as a percentage of revenues.

 For the Nine Months

Ended March 31,

    2025  
    %  
    2024  
    % 
  
    Net
    Revenues: 

    License
    fees 
    $75,115  
     0.2% 
    $4,829,242  
     10.7%
  
    Subscription
    and support 
     24,723,460  
     51.9% 
     20,480,382  
     45.6%
  
    Services 
     22,880,541  
     48.0% 
     19,635,014  
     43.7%
  
    Total
    net revenues 
     47,679,116  
     100.0% 
     44,944,638  
     100.0%

    Cost
    of revenues 
     25,452,890  
     53.4% 
     24,132,064  
     53.7%
  
    Gross
    profit 
     22,226,226  
     46.6% 
     20,812,574  
     46.3%
  
    Operating
    expenses: