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

Company: NETSOL TECHNOLOGIES INC
Filing Date: 2025-02-13
Form: 10-Q
Item: Part I, Item 1
Chunk 25
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 $46,187,766 and $45,935,616 as of December 31, 2024 and June 30, 2024, respectively.
During the three and six months ended December 31, 2024, comprehensive income (loss) in the consolidated statements of comprehensive
income (loss) included a translation loss attributable to NetSol of $138,743 and $252,150, respectively. During the three and six months
ended December 31, 2023, comprehensive income (loss) in the consolidated statements of comprehensive income (loss) included a translation
gain attributable to NetSol of $541,393 and $104,847, respectively.

NOTE 6 – MAJOR CUSTOMERS

During
the three and six months ended December 31, 2024, revenues from Daimler Financial Services (“DFS”) were $3,042,849 and $6,260,390,
respectively representing 19.6% and 20.8%, respectively of revenues. During the three and six months ended December 31, 2024, revenues
from BMW Financial (“BMW”) were $3,116,086 and $5,588,787, respectively representing 20.1% and 18.5%, respectively of revenues.
During the three and six months ended December 31, 2023, revenues from DFS were $3,945,061 and $7,632,692, representing 25.9% of revenues.
During the three and six months ended December 31, 2023, revenues from BMW were $699,966 and $1,109,955, respectively representing 4.6%
and 6.0%, respectively of revenues. The revenues from DFS are shown in the Asia – Pacific segment. The revenues from BMW are shown
in the Asia – Pacific and North America segments.

Accounts
receivable from DFS and BMW at December 31, 2024, were $368,862 and $107,716, respectively. Accounts receivable from DFS and BMW at June
30, 2024, were $538,648 and $505,875, respectively. Revenues in excess of billings at December 31, 2024, were $761,367 and $1,375,671,
respectively. Revenues in excess of billings at June 30, 2024, were $892,109 and $1,419,997, respectively.

NOTE 7 - OTHER CURRENT ASSETS