NetSol Q3 FY2022 revenue up 7.4% to $14.8M; GAAP net loss narrows to $0.3M

NETSOL TECHNOLOGIES INC

2022-Q3 EPS reported $0.12 revenue$43,703,549

Total net revenues $14.8M, up 7.4% YoY; subscription & support revenues $6.6M (up 16%).
GAAP net loss $0.3M ($0.02/share) improved from loss of $0.6M ($0.05) in prior year period.
Non-GAAP adjusted EBITDA $0.4M ($0.03/share) vs $0.2M ($0.02) prior year.
Gross margin fell to 39% from 47% due to higher salary and consulting costs.
Annualized recurring revenue run rate $26.2M; Otoz MINI Anywhere live with 17 dealerships.

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