Company: NTWK
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001641172-25-010127
Chunk: 61

Company: NETSOL TECHNOLOGIES INC
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 61
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     1,268,499  
     (1,546) 
     1,266,953 

    Operating expenses: 
     7,188,375  
     41.0% 
     6,156,917  
     39.8% 
     (1,038,277) 
     6,819  
     (1,031,458)

    Income (loss) from operations 
    $1,553,398  
     8.9% 
    $1,317,903  
     8.5% 
    $230,222  
    $5,273  
    $235,495 

Net
revenues for the three months ended March 31, 2025 and 2024 are broken out among the segments as follows:

    2025  
    2024 

    Revenue  
    %  
    Revenue  
    % 

    North America 
    $3,869,903  
     22.1% 
    $1,365,074  
     8.8%
  
    Europe 
     5,895,140  
     33.6% 
     3,045,784  
     19.7%
  
    Asia-Pacific 
     7,778,914  
     44.3% 
     11,053,658  
     71.5%
  
    Total 
    $17,543,957  
     100.0% 
    $15,464,516  
     100.0%

Revenues

License
fees

License
fees for the three months ended March 31, 2025 were $1,198 compared to $558,340 for the three months ended March 31, 2024 reflecting
a decrease of $557,142 with a decrease in constant currency of $557,142. During the three months ended March 31, 2024, we recognized
approximately $465,000 related to the additional sale of our NFS Ascent® CMS software to a renowned German auto manufacturer based
in China.

Page 41

Subscription
and support

Subscription
and support fees for the three months ended March 31, 2025 were $7,888,360 compared to $7,140,358 for the three months ended March 31,