Company: NTWK
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001641172-25-010127
Chunk: 69

Company: NETSOL TECHNOLOGIES INC
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 69
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 ended March 31, 2025 and 2024 are broken out among the segments as follows:

    2025  
    2024 

    Revenue  
    %  
    Revenue  
    % 

    North America 
    $9,945,837  
     20.9% 
    $4,238,910  
     9.4%
  
    Europe 
     11,651,606  
     24.4% 
     8,080,174  
     18.0%
  
    Asia-Pacific 
     26,081,673  
     54.7% 
     32,625,554  
     72.6%
  
    Total 
    $47,679,116  
     100.0% 
    $44,944,638  
     100.0%

Revenues

License
fees

License
fees for the nine months ended March 31, 2025 were $75,115 compared to $4,829,242 for the nine months ended March 31, 2024 reflecting
a decrease of $4,754,127 with a decrease in constant currency of $4,756,850. During the nine months ended March 31, 2024, we recognized
approximately $2,800,000 related to the sale of our NFS Ascent® CMS software to a renowned U.S. auto manufacturer based in China
and we recognized approximately $1,142,000 related to the license renewal with an existing customer, and 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 45

Subscription
and support

Subscription
and support fees for the nine months ended March 31, 2025 were $24,723,460 compared to $20,480,382 for the nine months ended March 31,
2024 reflecting an increase of $4,243,078 with an increase in constant currency of $4,139,874. The increase includes a one-time catch
up of approximately $1,693,000 from five of our customers. Subscription and support fees begin once a customer has “gone live”
with our product. Subscription and support fees are recurring in nature, and we anticipate these fees to gradually increase as we implement
both our NFS legacy products and NFS Ascent®.

Services