NETSOL reports Q4 FY2023 net loss of $5.1M; guides FY2024 revenue $61-63M

NETSOL TECHNOLOGIES INC

GAAP net loss $5.1M ($0.45/diluted) vs $2.2M loss in Q4 FY2022.
Total net revenues $13.8M flat YoY; subscription/support revenue up to $6.8M from $6.1M.
Non-GAAP adjusted EBITDA loss $4.2M ($0.37/share) vs $1.4M loss prior year.
FY2024 revenue guidance $61M-$63M (16-20% growth) vs FY2023 revenue of $52.4M.
Annual recurring revenue $26M exceeded $25M target; appointed Darryll Lewis MD of Europe.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

NETSOL TECHNOLOGIES INC reported the fiscal fourth quarter and year ended June 30, 2023 results: revenue $13.8 million, net income $(5.1 million) or $(0.45) per diluted share, EPS $(0.45) per diluted share. Guidance reaffirmed.

Period: the fiscal fourth quarter and year ended June 30, 2023
Revenue: $13.8 million
Net income: $(5.1 million) or $(0.45) per diluted share
EPS: $(0.45) per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Total net revenues for the fourth quarter of fiscal 2023 were $13.8 million

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Source: SEC EDGAR

accession 0001493152-23-033474

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