Company: NTWK
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001641172-25-010127
Chunk: 65

Company: NETSOL TECHNOLOGIES INC
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 65
---
 the three months ended March 31, 2024. During the three months
ended March 31, 2025, the value of the U.S. dollar increased 0.3% and the Euro increased 4.5%, compared to the PKR. During the three
months ended March 31, 2024, the value of the U.S. dollar and the Euro decreased 0.6% and 2.8%, compared to the PKR.

Non-controlling
Interest

For
the three months ended March 31, 2025, the net income attributable to non-controlling interest was $410,462, compared to net income of
$11,679 for the three months ended March 31, 2024. The increase in non-controlling interest is primarily due to the increase in net income
of NetSol PK.

Net
income (loss) attributable to NetSol

The
net income was $1,423,968 for the three months ended March 31, 2025 compared to $327,549 for the three months ended March 31, 2024. This
is an increase of $1,096,419 with an increase of $1,039,042 on a constant currency basis, compared to the prior year. For the three months
ended March 31, 2025, net income per share was $0.12 for basic and diluted shares compared to net income per share of $0.03 for basic
and diluted shares for the three months ended March 31, 2024.

Page 43

Nine
Months Ended March 31, 2025 Compared to the Nine Months Ended March 31, 2024

The
following table sets forth the items in our unaudited condensed consolidated statement of operations for the nine months ended March
31, 2025 and 2024 as a percentage of revenues.

 For the Nine Months

Ended March 31,

    2025  
    %  
    2024  
    % 
  
    Net
    Revenues: 

    License
    fees 
    $75,115  
     0.2% 
    $4,829,242  
     10.7%
  
    Subscription
    and support 
     24,723,460  
     51.9% 
     20,480,382  
     45.6%
  
    Services 
     22