Mon, Sep 30, 6:14 PM (82 days ago)
NetSol Technologies, Inc. reported significant financial improvements for the fiscal year ending June 30, 2024, with total net revenues increasing to $61,393 from $52,393 in the previous year. Key revenue streams included $5,450 from license fees, $27,953 from subscriptions, and $27,990 from services. The company's gross profit rose to $29,285, reflecting a gross margin of 47.7% compared to 32.3% in the previous year. Operating expenses remained stable at $25,791, resulting in an operating income of $3,494, contrasting sharply with an operating loss of $8,780 in 2023. Net income attributable to NetSol was $684, with earnings per share recovering to $0.06 from a loss of $0.46. Strategically, NetSol has focused on expanding its digital retail platform, securing a $16 million contract with a major automaker, and completing a $110 million rollout of its NFS Ascent platform across multiple countries. The company's cash position improved to $19,127, with a robust liquidity profile supported by current assets of $47,462 against current liabilities of $23,869. However, risks such as geopolitical tensions and currency fluctuations remain pertinent. The company continues to explore growth in international markets, particularly in Asia Pacific, and emphasizes innovation through AI and cloud services.