Company: NTCL
Filing Date: 2025-10-20
Form Type: F-1
Source: 0001104659-25-100526
Chunk: 139

Company: NetClass Technology Inc
Filing Date: 2025-10-20
Form: F-1
Chunk 139
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781 | ​ |        |     17,076 |   |  108.2 | % |
| INCOME BEFORE INCOME TAXES       | ​ |                     |    419,560 | ​ |      |    64,151 | ​ |        |    355,409 |   |  554.0 | % |
| Income tax provision (benefit)   | ​ |                     |    257,331 | ​ |      |   -68,536 | ​ |        |    325,867 |   | -475.5 | % |
| NET INCOME                       | ​ |                     |    162,229 | ​ |      |   132,687 | ​ |        |     29,542 |   |   22.3 | % |
| Other comprehensive loss         | ​ |                     |    -29,439 | ​ |      |  -248,101 | ​ |        |    218,662 |   |  -88.1 | % |
| COMPREHENSIVE INCOME (LOSS)      | ​ | $                   |    132,790 | ​ | $    |  -115,414 | ​ | $      |    248,204 |   | -215.1 | % |

Revenues We derive revenues from two sources: (1) revenue from application development services, and (2) revenue from subscription services. The Company focuses on developing applications and solutions equipped with the Company’s new technology in SaaS platform. For the year ended September 30, 2023, our total revenue was approximately $11.1 million as compared to approximately $9.3 million for the year ended September 30, 2022. The Company’s total revenue increased by approximately $1.8 million, or 19.8%. The overall increase in total revenue was attributable to approximately $4.9 million increase in revenue from application development services, by netting off approximately $3.1 million decrease in revenue from subscription services. Revenue from application development services The Company’s application development service contracts are primarily on a fixed-price basis, which require the Company to perform services including project planning, project design, application development and system integration based on customers’ specific needs. Most of the application development contracts are completed within three months. Revenue from application development service is recognized at a point of time by customer acceptance. For the year ended September 30, 2023, our application development service revenue was approximately $