---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-039689"
form_type: "8-K"
ticker: "NTWK"
cik: "0001039280"
company_name: "NETSOL TECHNOLOGIES INC"
filed_at: "2023-11-07T23:59:59+00:00"
generated_at: "2026-06-08T13:00:06.743178+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001493152-23-039689
- form_type: 8-K
- ticker: NTWK
- cik: 0001039280
- company_name: NETSOL TECHNOLOGIES INC
- filed_at: 2023-11-07T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 2.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1039280/000149315223039689/0001493152-23-039689-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1039280/000149315223039689/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-039689
- JSON: https://secwatch.observer/filing/0001493152-23-039689.json
- Plain text: https://secwatch.observer/filing/0001493152-23-039689.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1039280/000149315223039689/0001493152-23-039689-index.htm

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