Company: NTWK
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001641172-25-010127
Chunk: 158

Company: NETSOL TECHNOLOGIES INC
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 2
Chunk 158
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 contract is expected to generate $1.7
    million in revenues during the contract term.

    ●
    We
    generated $1.1 million through modifications and system enhancements for multiple clients across diverse regions.

    ●
    We
    secured $1 million in additional revenue for the ongoing Transcend Retail Platform implementation for a U.S. auto manufacturer, driven
    by customizations to meet their evolving business needs.

    ●
    We
    amended an agreement with an existing UK/EU client that will provide additional revenue of €3 million, further strengthening
    the long-term partnership.

    ●
    We
    hired a Vice President of Artificial Intelligence, who has 15+ years in fintech, insurance, and entertainment, to lead Transcend
    AI Labs, accelerating our AI-first strategy in asset finance.

    ●
    We
    announced the go-live of our Transcend Finance platform for the Australian operations of a leading Japanese equipment finance company,
    building on our existing partnership in New Zealand and enhancing their regional operations with additional digital self-service
    solutions.

Management
has identified the following material trends affecting NetSol.

Positive
trends:

    ●
    According
    to S&P Global Mobility, the forecast for new vehicle sales worldwide in 2025 is 89.6 million units, which is a modest 1.7% year-over-year
    growth in light vehicle sales.

    ●
    According
    to S&P Global Mobility and Edmunds, the US automotive sales of new vehicles in 2025 are expected to be around 16.2 million units,
    which is a 1.2% to 1.4% increase from 2024. This would be the highest annual sales figure since 2019.

    ●
    
    The
    annual inflation rate for the U.S. was 2.4% for the 12 months ending March 2025. (USinflationcalculator.com)

    ●
    The
    U.S. market remains strong and resilient for NetSol to continue investing in building local teams for its core offerings.

    ●
    According
    to recent forecasts, China’s auto sales in 2025 are expected to reach approximately 32.9 million units representing a 4.7%
    year-over-year increase. (China Automobile Manufacturers Association)

    ●
    The
    China Pakistan Economic Corridor (CPEC) investment, initiated by China, has exceeded $