NetSol reports Q3 FY2023 net income $2.5M vs loss; revenue $13.5M down 8.8%

NETSOL TECHNOLOGIES INC

2023-Q3 EPS reported -$0.01 revenue$38,602,866

GAAP net income $2.5M ($0.23 diluted EPS) vs net loss $278K ($0.02 loss) year ago.
Revenue $13.5M, down from $14.8M; constant currency revenue $14.1M; recurring revenue $6.7M.
Non-GAAP adjusted EBITDA $3.3M ($0.29 per diluted share) vs $359K year ago.
Signed multi-million-dollar deal with Japanese equipment finance firm for NFS Ascent Retail.
Strategic cost transformation: 20-25% headcount reduction and significant total savings expected.

item 2.02

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

NETSOL TECHNOLOGIES INC reported fiscal third quarter ended March 31, 2023 results: net income $2.5 million, EPS $0.23 per diluted share.

Period: fiscal third quarter ended March 31, 2023
Net income: $2.5 million
EPS: $0.23 per diluted share
Result: reported results

Exact text from the filing

● Net Revenue for the Quarter was $13.5 Million; $14.1 Million on a Constant Currency Basis

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

NETSOL TECHNOLOGIES INC reported fiscal third quarter ended March 31, 2023 results: net income $2.5 million, EPS $0.23 per diluted share.

Period: fiscal third quarter ended March 31, 2023
Net income: $2.5 million
EPS: $0.23 per diluted share
Result: reported results

Exact text from the filing

GAAP net income attributable to NETSOL for the third quarter of fiscal 2023 totaled $2.5 million or $0.23 per diluted share, compared with GAAP net loss of $(278,000) or $(0.02) per diluted share in the third quarter of fiscal 2022.

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Source: SEC EDGAR

accession 0001493152-23-016484

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