NetSol Q2 FY22 revenue $15.5M (+17.9% YoY); net income $1.4M vs loss $242K

NETSOL TECHNOLOGIES INC

2022-Q2 EPS reported $0.14 revenue$28,893,723

Total net revenues $15.5M, up 17.9% YoY; subscription & support revenue $9.4M (+64%).
GAAP net income $1.4M ($0.13/diluted share) vs net loss $242K ($0.02) in prior year.
Non-GAAP adjusted EBITDA $2.1M ($0.19/diluted) vs $617K ($0.05) prior year.
Annualized recurring revenue (SaaS & Support) run rate reached $25.0M.
Gross profit margin improved to 49.4% of net revenues from 46.0%.

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