Company: NTWK
Filing Date: 2025-02-13
Form Type: 10-Q
Source: 0001493152-25-006348
Chunk: 65

Company: NETSOL TECHNOLOGIES INC
Filing Date: 2025-02-13
Form: 10-Q
Item: Part I, Item 1
Chunk 65
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     (508,338)

    Gross profit 
     13,484,453  
     44.7% 
     13,337,754  
     45.2% 
     248,051  
     (101,352) 
     146,699 

    Operating expenses: 
     14,731,561  
     48.9% 
     11,960,293  
     40.6% 
     (2,435,341) 
     (335,927) 
     (2,771,268)

    Income (loss) from operations 
    $(1,247,108) 
     -4.1% 
    $1,377,461  
     4.7% 
    $(2,187,290) 
    $(437,279) 
    $(2,624,569)

Net revenues for the six months
ended December 31, 2024 and 2023 are broken out among the segments as follows:

    2024  
    2023 

    Revenue  
    %  
    Revenue  
    % 

    North America 
    $6,075,934  
     20.2% 
    $2,873,836  
     9.7%
  
    Europe 
     5,756,466  
     19.1% 
     5,034,390  
     17.1%
  
    Asia-Pacific 
     18,302,759  
     60.7% 
     21,571,896  
     73.2%
  
    Total 
    $30,135,159  
     100.0% 
    $29,480,122  
     100.0%

Revenues

License
fees

License
fees for the six months ended December 31, 2024 were $73,917 compared to $4,270,902 for the six months ended December 31, 2023 reflecting
a decrease of $4,196,985 with a decrease in constant currency of $4,199,708. During the six months ended December 31, 2023, we recognized
approximately $2,800,000 related to the sale of our NFS Ascent® CMS software to a renowned US auto manufacturer based in China and
we