Company: NTCL
Filing Date: 2025-10-20
Form Type: F-1
Source: 0001104659-25-100526
Chunk: 128

Company: NetClass Technology Inc
Filing Date: 2025-10-20
Form: F-1
Chunk 128
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31.4 | % |

63

| Subscription service | ​ |   | (157,673) |     | (13.6) | % |   | 230,975 |     | 17.4 | % |   | (388,648) |     | (168.3) | % |
|:---------------------|:--|:--|----------:|:----|-------:|:--|:--|--------:|:----|-----:|:--|:--|----------:|:----|--------:|:--|
| Total gross profit   | ​ | $ |   305,390 |     |    8.4 | % | $ | 583,449 |     | 15.5 | % | $ |  -278,059 |     |   -47.7 | % |

Our gross profit decreased by approximately $0.3 million or 47.7% from approximately $0.6 million for the six months ended March 31, 2024 to approximately $0.3 million for the six months ended March 31, 2025. Profit margin as a percent of overall revenue for the six months ended March 31, 2025 and 2024 was approximately 8.4% and 15.5%, respectively. Gross profit for application development services increased by approximately $0.1 million or 31.4% from approximately $0.4 million for the six months ended March 31, 2024 to approximately $0.5 million for the six months ended March 31, 2025. Profit margin for the six months ended March 31, 2025 and 2024 was approximately 18.6% and 14.5%, respectively. The increase in profit margin was due to the reason the Company gradually raised its selling price during the six months ended March 31, 2025, and terminated its low margin strategy started in the fiscal year ended September 30, 2023. Gross profit for subscription services decreased by approximately $0.4 million or 168.3% from approximately $0.2 million for the six months ended March 31, 2024 to approximately $(0.2) million for the six months ended March 31, 2025. Profit margin was approximately (13.6)% and 17.4% for the six months ended March 31, 2025 and 2024, respectively. The decrease of