NetSol reports Q1 FY2024 revenue up 12% to $14.2M; net profit of $31K vs loss year ago

NETSOL TECHNOLOGIES INC

2023-Q1 EPS reported $0.00 revenue$14,242,181

Net revenue $14.2M (+12% YoY); gross margin improved to 43% from 33%.
GAAP net income $31K ($0.003/share) vs net loss of $621K ($0.06 loss) in Q1 FY2023.
License fees surged to $1.3M from $250K; SaaS/Cloud and support revenue rose to $6.5M.
Non-GAAP adjusted EBITDA was $466K ($0.04/diluted share) vs loss of $28K prior year.
Services revenue flat at $6.4M; FX loss of $134K included in net income.

item 2.02

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

NETSOL TECHNOLOGIES INC reported fiscal first quarter ended September 30, 2023 results: revenue $14.2 million, net income $31,000 or $0.003 per diluted share, EPS $0.003 per diluted share.

Period: fiscal first quarter ended September 30, 2023
Revenue: $14.2 million
Net income: $31,000 or $0.003 per diluted share
EPS: $0.003 per diluted share
Result: reported results

Exact text from the filing

NETSOL Technologies Reports Fiscal First Quarter 2024 Results ● Net Revenue for the Quarter Grew 12% to $14.2 Million ● SaaS and Annual recurring Revenues Continue to Grow Year Over Year ● Gross Margins Increased to 43% and Company Reports Net Profit

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Source: SEC EDGAR

accession 0001493152-23-039689

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