Company: NTWK
Filing Date: 2025-05-01
Form Type: DEF 14A
Source: 0001641172-25-007993
Chunk: 10

Company: NETSOL TECHNOLOGIES INC
Filing Date: 2025-05-01
Form: DEF 14A
Chunk 10
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 estimates and achieved profitability for the full fiscal year ending 2024. Our performance in fiscal 2024 underscores the successful execution of our long-term strategy, our commitment to investing in the growth of our business and the ongoing development of innovative products and solutions that meet the diverse needs of our expanding customer base.

We reached several milestones during the fiscal year as we exceeded our
full-year revenue target driven by strong demand for our comprehensive suite of products, met our annual recurring revenue target and
achieved full-year profitability. In addition to our sales growth, we continued to invest in the growth of our business throughout the fiscal year. We increased our investments in sales and marketing in support of our long-term goals and are intently focused on the development of new products and services that expand our total addressable market. Moreover, we remain committed to the innovation and integration of cutting-edge AI solutions into our business processes and our products and offerings – all now under our AI-powered Transcend Platform. During the year, we made significant investments in our AI capabilities by adding top talent to our already impressive team.

As a global
technology solutions provider to the asset finance and leasing industry, our presence across key markets is a major focus. We performed well in our established markets during the fiscal year, signing a healthy mix of both new agreements and extensions with existing customers that include tier-one automakers, banks and financial services providers throughout the Americas, Asia Pacific and Europe.

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Major highlights for the fiscal year ended June 30, 2024 (to date) including new contract signings, implementations, subscriptions and new product/service offerings can be read below:

| § | For the fiscal first quarter of 2024, the Company reported that net revenue for the quarter grew 12% to $14.2 million. Gross margins 
 increased to 43% and the Company reported net profit.                                                                                |

| § | Two UK-based financial institutions went live with our calculation engine Flex from Transcend Marketplace (formerly known as Appex           
 Now). These included Bibby Financial Services and United Trust Bank, the latter which also subscribed to Dock, another Transcend Marketplace 
 product.                                                                                                                                     |

| § | United Kingdom-based award-winning asset finance specialist Haydock Finance subscribed to Dock and Lane, taking the number of products 
 being availed from Transcend Marketplace to three (the customer was already using Flex).                                               |

| § | We announced major updates pertaining to our digital retail platform Transcend Retail (formerly known as Otoz) as well