Company: NTWK
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001493152-25-015950
Chunk: 584

Company: NETSOL TECHNOLOGIES INC
Filing Date: 2025-09-29
Form: 10-K
Item: Item 1C
Chunk 584
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INGS AND DEFERRED REVENUE

    As
    of  
    As
    of 

    June
    30, 2025  
    June
    30, 2024 

    Revenues
    in excess of billings 
    $19,134,385  
    $13,638,547 

    Unearned
    revenue 
    $3,029,850  
    $8,752,153 

    F-20

NETSOL
                                            TECHNOLOGIES, INC.

Notes
to Consolidated Financial Statements

June
30, 2025 and 2024

The
Company’s unearned revenue reconciliation is as follows:

 SCHEDULE
OF UNEARNED REVENUE RECONCILIATION

    Unearned
    Revenue 

    Balance at June 30, 2023 
    $7,932,306 
  
    Invoiced 
     24,039,382 
  
    Revenue Recognized 
     (23,216,573)
  
    Adjustments 
     (2,962)
  
    Balance at June 30, 2024 
    $8,752,153 
  
    Invoiced 
     23,567,456 
  
    Revenue Recognized 
     (29,201,839)
  
    Adjustments 
     (87,920)
  
    Balance
    at June 30, 2025 
    $3,029,850 

During
the year ended June 30, 2025, the Company recognized revenue of $8,450,000, which was included in the unearned revenue balance at
the beginning of the period. All other activity in unearned revenue is due to the timing of invoicing in relation to the timing of revenue
recognition.

Revenue
allocated to remaining performance obligations represents the transaction price allocated to the performance obligations that are unsatisfied,
or partially unsatisfied, which includes unearned revenue and amounts that will be invoiced and recognized as revenue in future periods.
Contracted but unsatisfied performance obligations were approximately $21,759,000 as of June 30, 2025, of which the Company estimates
to recognize approximately $15,877,000 in revenue over the next 12 months and the remainder over an estimated 3 years thereafter. Actual
revenue recognition depends in part on the timing of software modules installed at various