Company: NTWK
Filing Date: 2025-02-13
Form Type: 10-Q
Source: 0001493152-25-006348
Chunk: 88

Company: NETSOL TECHNOLOGIES INC
Filing Date: 2025-02-13
Form: 10-Q
Item: Part I, Item 2
Chunk 88
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 2025 with retaliatory tariffs from China on US goods.

Page 38

CHANGES IN FINANCIAL CONDITION

Quarter	 Ended December
31, 2024 Compared to the Quarter Ended December 31, 2023

The following
table sets forth the items in our unaudited condensed consolidated statement of operations for the three months ended December 31, 2024
and 2023 as a percentage of revenues.

    For the Three Months 

    Ended December 31, 

    2024  
    %  
    2023 
  
    Net Revenues: 

    License fees 
    $72,688  
     0.5% 
    $2,990,453 
  
    Subscription and support 
     8,642,629  
     55.6% 
     6,827,781 
  
    Services 
     6,821,344  
     43.9% 
     5,419,707 
  
    Total net revenues 
     15,536,661  
     100.0% 
     15,237,941 

    Cost of revenues 
     8,616,320  
     55.5% 
     8,062,204 
  
    Gross profit 
     6,920,341  
     44.5% 
     7,175,737 
  
    Operating expenses: 

    Selling, general and administrative 
     7,073,622  
     45.5% 
     5,807,494 
  
    Research and development cost 
     333,669  
     2.1% 
     341,411 
  
    Total operating expenses 
     7,407,291  
     47.7% 
     6,148,905 

    Income (loss) from operations 
     (486,950) 
     -3.1% 
     1,026,832 
  
    Other income and (expenses) 

    Interest expense 
     (236,386) 
     -1.5% 
     (290,322)
  
    Interest income 
     529,072  
     3.4% 
     468,280 
  
    Gain (loss) on foreign currency exchange transactions 
     (698,392)