Company: NTWK
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-021835
Chunk: 79

Company: NETSOL TECHNOLOGIES INC
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 2
Chunk 79
---
 results to the operating
results of our peers.

Non-controlling
interest: We add back the non-controlling interest in calculating gross adjusted EBITDA and then subtract out the income taxes, depreciation
and amortization and net interest expense attributable to the non-controlling interest to arrive at a net adjusted EBITDA.

Page 38

Our
reconciliation of the non-GAAP financial measures of adjusted EBITDA and non-GAAP earnings per basic and diluted share to the most comparable
GAAP measures for the three months ended September 30, 2025 and 2024 are as follows:

    For the Three Months Ended September 30, 

    2025  
    2024 

    Net Income (loss) attributable to NetSol 
    $(2,357,288) 
    $70,795 
  
    Non-controlling interest 
     139,923  
     146,914 
  
    Income taxes 
     215,775  
     229,817 
  
    Depreciation and amortization 
     324,606  
     365,997 
  
    Interest expense 
     174,611  
     258,219 
  
    Interest (income) 
     (280,974) 
     (769,867)
  
    EBITDA 
    $(1,783,347) 
    $301,875 
  
    Add back: 

    Non-cash stock-based compensation 
     145,400  
     47,779 
  
    Adjusted EBITDA, gross 
    $(1,637,947) 
    $349,654 
  
    Less non-controlling interest (a) 
     (223,948) 
     (145,781)
  
    Adjusted EBITDA, net 
    $(1,861,895) 
    $203,873 

    Weighted Average number of shares outstanding 

    Basic 
     11,767,811  
     11,429,695 
  
    Diluted 
     11,767,811  
     11,482,754 

    Basic adjusted EBITDA 
    $(0.16) 
    $0.02 
  
    Diluted adjusted EBITDA 
    $(0.16) 
    $0.02 

    (a) The reconciliation of adjusted EBITDA of non-controlling interest