---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-016484"
form_type: "8-K"
ticker: "NTWK"
cik: "0001039280"
company_name: "NETSOL TECHNOLOGIES INC"
filed_at: "2023-05-12T23:59:59+00:00"
generated_at: "2026-06-15T02:05:20.287119+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001493152-23-016484
- form_type: 8-K
- ticker: NTWK
- cik: 0001039280
- company_name: NETSOL TECHNOLOGIES INC
- filed_at: 2023-05-12T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1039280/000149315223016484/0001493152-23-016484-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1039280/000149315223016484/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-016484
- JSON: https://secwatch.observer/filing/0001493152-23-016484.json
- Plain text: https://secwatch.observer/filing/0001493152-23-016484.txt

## Key facts
- Earnings Releases
  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
  source text: ● Net Revenue for the Quarter was $13.5 Million; $14.1 Million on a Constant Currency Basis
  evidence_url: https://www.sec.gov/Archives/edgar/data/1039280/000149315223016484/0001493152-23-016484-index.htm
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1039280/000149315223016484/0001493152-23-016484-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.