Company: NTCL
Filing Date: 2025-10-20
Form Type: F-1
Source: 0001104659-25-100526
Chunk: 129

Company: NetClass Technology Inc
Filing Date: 2025-10-20
Form: F-1
Chunk 129
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 profit margin was due to we need to keep competitive price for customers despite cost increases. Operating Expenses The following table summarizes the operating expenses for the six months ended March 31, 2025 and 2024, respectively, and provides information regarding the dollar and percentage increase or (decrease) during such periods.

| ​                          
 ​                          
 OPERATING EXPENSES:        | ​ | ​    
 2025 
 ​    |         ​ | ​ | ​    
 2024 
 ​    |         ​ | ​ | ​      
 Change 
 ​      |          ​ | ​ |        ​ 
 % Change | ​ 
 ​ |
|:---------------------------|:--|:-----|----------:|:--|:-----|----------:|:--|:-------|-----------:|:--|---------:|:--|
| Selling                    | ​ | $    |   468,864 | ​ | $    |   207,160 | ​ | $      |    261,704 |   |    126.3 | % |
| General and administrative | ​ |      | 3,975,268 | ​ |      |   397,873 | ​ |        |  3,577,395 |   |    899.1 | % |
| Research and development   | ​ |      | 1,039,528 | ​ |      | 2,213,377 | ​ |        | -1,173,849 |   |    -53.0 | % |
| Total operating expenses   | ​ | $    | 5,483,660 | ​ | $    | 2,818,410 | ​ | $      |  2,665,250 |   |     94.6 | % |

Our operating expenses consist of selling, general and administrative (“G&A”) and R&D expenses. Operating expenses increased by approximately $2.7 million, or 94.6%, from approximately $2.8 million for the six months ended March 31, 2024 to approximately $5.5 million for the six months ended March 31, 2025. The increase in our operating expenses was primarily due to approximately $3.6 million increase in G&A expenses and $0.3 million in selling expenses, offset by decrease in R&D expenses of $1.2 million. Selling expenses primarily consisted of salary and compensation expenses for our sales personnel, advertising expenses, promotional service fee, travel and other expenses relating