Company: NTCL
Filing Date: 2025-10-20
Form Type: F-1
Source: 0001104659-25-100526
Chunk: 125

Company: NetClass Technology Inc
Filing Date: 2025-10-20
Form: F-1
Chunk 125
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 Other comprehensive income (loss)                                           | ​ |      |    -15,969 | ​ |      |     36,523 | ​ |        |    -52,492 |   |   -143.7 | % |
| ​                                                                           | ​ | ​    |          ​ | ​ | ​    |          ​ | ​ | ​      |          ​ | ​ |        ​ | ​ |
| COMPREHENSIVE INCOME (LOSS)                                                 | ​ | $    | -4,971,612 | ​ | $    | -2,028,488 | ​ | $      | -2,943,124 |   |    145.1 | % |
| Less: Comprehensive income (loss) attributable to non-controlling interests | ​ |      |     71,274 | ​ |      |          — | ​ |        |     71,274 |   |      N/A | ​ |
| Comprehensive income (loss) attributable to shareholders                    | ​ | $    | -4,900,338 | ​ | $    | -2,028,488 | ​ | $      | -2,871,850 |   |    141.6 | % |

Revenues We derive revenues from two sources: (1) revenue from application development services, and (2) revenue from subscription services. The Company focuses on developing applications and solutions equipped with the Company’s new technology in SaaS platform. For the six months ended March 31, 2025, our total revenue was approximately $3.7 million compared to approximately $3.8 million for the six months ended March 31, 2024. The Company’s total revenue decreased by approximately $0.1 million, or 0.3%. The overall decrease in total revenue was attributable to approximately $0.2 million decrease in revenue from subscription services offset by $0.1 million increase in revenue from application development services. Revenue from application development services The Company’s application development service contracts are primarily on a fixed-price basis, which require the Company to perform services including project planning, project design, application development and system integration based on customers’ specific needs.

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Most of the application development contracts are completed within three months. Revenue from application development service is recognized at a point of time by customer acceptance. For the six months ended March 31, 2025, our application development service revenue was approximately $2.5 million compared to approximately $2.4 million for the six months ended March