ENCINO, Calif., Oct. 08, 2024 (GLOBE NEWSWIRE) -- NETSOL Technologies, Inc. (Nasdaq: NTWK), the global leader in delivering state-of-the-art solutions for the asset finance and leasing industry, announced today its new unified Transcend Platform – an AI-powered digital retail and asset finance solution for automotive and equipment OEMs, auto captives, commercial lenders, dealers, brokers and financial institutions. The new NETSOL Transcend Platform offers a robust set of products and solutions under one umb ...

Strategic Partnership - NETSOL Technologies announced a new strategic partnership with Hiltermann, a Netherlands-based specialist lender in the leasing and financing industry [1] - Hiltermann has implemented NETSOL's Wholesale Finance System (WFS) and will leverage the company's white label lending platform to expand competitive offerings in the asset finance and leasing market [1] - This partnership marks NETSOL's first strategic move in the Netherlands and supports its broader European growth strategy [1] Technology and Implementation - NETSOL's API-enabled technology allows Hiltermann to enhance collaboration with dealerships, improve customer relationships, and gain competitive advantages [2] - The stock financing solution integrates with local market infrastructure, facilitating automation and scalability for both funders and dealers [2] - The implementation was completed in just 5 months, showcasing NETSOL's expertise and hybrid approach combining offshore and on-site teams [2] Company Overview - NETSOL Technologies is a global leader in providing state-of-the-art solutions for the asset finance and leasing industry, serving clients in over 30 countries [3] - The company's flagship product, NETSOL Financial Suite (NFS), leverages advanced AI and cloud services to meet complex market needs [3] - NETSOL is known for its deep industry expertise, customer-centric approach, and commitment to innovation and sustainability [3] About Hiltermann - Hiltermann is a bank-and-brand independent leasing partner, specializing in operational and financial leasing of cars, commercial vehicles, and business assets [4] - The company is among the top 10 car leasing companies in the Netherlands [4]

ENCINO, Calif., Sept. 30, 2024 (GLOBE NEWSWIRE) -- NETSOL Technologies, Inc. (Nasdaq: NTWK), a global business services and enterprise application solutions provider, will hold a conference call on Tuesday, October 1, 2024, at 9:00 a.m. Eastern Time (6:00 a.m. Pacific Time) to discuss its financial results for the fiscal fourth quarter and full year ended June 30, 2024. Following the call, management will host a question-andanswer session. Date: Tuesday, October 1, 2024 Time: 9:00 a.m. Eastern Time (6:00 a. ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED JUNE 30, 2024 or ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 0-22773 NETSOL TECHNOLOGIES, INC. (Exact Name of Registrant specified in its charter) NEVADA 95-4627685 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification ...

ENCINO, Calif., Sept. 10, 2024 (GLOBE NEWSWIRE) -- NETSOL Technologies, Inc. (Nasdaq: NTWK), a global leader in delivering state-of-the-art solutions for the asset finance and leasing industry, has signed a new agreement with a major automaker and longstanding customer to support their operations throughout China. This agreement brings the total value of the contract to over $30 million over five years and is expected to contribute to consistent revenue growth in fiscal 2025 and beyond. Najeeb Ghauri, Found ...

ENCINO, Calif., Aug. 01, 2024 (GLOBE NEWSWIRE) -- NETSOL Technologies, Inc. (Nasdaq: NTWK), a global leader in delivering state-of-the-art solutions for the asset finance and leasing industry, has announced that Charles & Dean Finance has signed up for two products from Company's new API-first Appex Now marketplace – Flex and Dock. Flex, the first product offering from Appex Now, is an instant, cloud-based calculation engine which guarantees swift and accurate calculations at all stages of the contract life ...

ENCINO, Calif., Aug. 01, 2024 (GLOBE NEWSWIRE) -- NETSOL Technologies, Inc. (Nasdaq: NTWK), a global leader in delivering state-of-the-art solutions for the asset finance and leasing industry, has announced that Charles & Dean Finance has signed up for two products from Company's new API-first Appex Now marketplace – Flex and Dock. Flex, the first product offering from Appex Now, is an instant, cloud-based calculation engine which guarantees swift and accurate calculations at all stages of the contract life ...

"We are thrilled to collaborate with one of the world's leading automakers to enhance the car sales and purchase process for their dealerships and customers," said Naeem Ghauri, President NETSOL Technologies and Founder of Otoz. "Building off the recent US-market traction with MINI Anywhere and AutoNation Mobility, this new partnership is a monumental milestone for the Otoz platform, underscoring the transformative potential of NETSOL's competence in redefining digital retail experiences and aligning with t ...

Financial Data and Key Metrics Changes - Total net revenues for Q3 fiscal 2024 were $15.5 million, up from $13.5 million in the prior year period, representing a growth of approximately 15% [27] - Services revenue increased approximately 60% compared to Q3 fiscal 2023, indicating strong demand for service offerings [19] - GAAP net income for Q3 fiscal 2024 was $328,000 or $0.03 per diluted share, down from $2.5 million or $0.23 per diluted share in Q3 fiscal 2023 [36] - Non-GAAP adjusted EBITDA for Q3 fiscal 2024 was $810,000 or $0.07 per diluted share, compared to $3.3 million or $0.29 per diluted share in the same quarter of the previous fiscal year [39] Business Line Data and Key Metrics Changes - Recurring revenues (subscription and support) for Q3 fiscal 2024 were $7.1 million, compared to $6.7 million in the prior year period [34] - Total services revenue for Q3 fiscal 2024 was $7.8 million, up from $4.9 million in the prior year period [28] Market Data and Key Metrics Changes - The U.S. market is showing strong interest in the company's Professional Services segment, particularly in AWS cloud services, data analytics, and AI-based products [29] - The company has successfully launched its auto digital, retail, and mobility platform in 58 MINI USA dealerships, indicating progress in the U.S. market [21] Company Strategy and Development Direction - The company aims to be recognized as an AI-first company, integrating AI modules into its products to enhance efficiency and reduce operational costs [7][31] - There is a focus on organic growth and innovation, with no recent mergers and acquisitions, as the company builds its business through existing customer relationships [51][52] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in breaking out of the historical revenue range of $51 million to $61 million, anticipating fiscal year 2025 to be a strong year [46][50] - The company is optimistic about achieving at least $28 million in subscription and support revenues for the full fiscal year 2024 [22] Other Important Information - The company appointed Fortune CPA as its new independent registered public accounting firm following the dismissal of BF Borgers due to regulatory issues [26][32] - A loss of $964,000 on foreign currency exchange transactions was reported for the quarter, contrasting with a gain of $5.4 million in the same quarter of the previous year [37] Q&A Session Summary Question: Can fiscal year 2025 be a breakout year for revenue? - Management is confident that fiscal year 2025 could be the strongest year, citing a healthy sales pipeline and positive customer engagement [46][48] Question: Why does the stock trade below book value despite profitability? - Management acknowledged the discrepancy and indicated plans to increase visibility and communicate the company's story more effectively to the market [54][56] Question: How is AI enhancing the company's products? - The company is taking a holistic approach to AI, focusing on internal efficiencies and developing AI applications that improve delivery processes [62]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q (Mark One) ☒ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended March 31, 2024 ☐ For the transition period from __________ to __________ Commission file number: 0-22773 NETSOL TECHNOLOGIES, INC. (Exact name of Registrant as specified in its charter) NEVADA 95-4627685 (State or other Jurisdiction of (I.R.S. Employer NO.) Incorporation or Organization) 16000 Ventu ...