NETSOL Technologies Inc. (NTWK) Financial Statements (2023 and Earlier)

Company Profile

Business Address 23975 PARK SORRENTO
CALABASAS, CA 91302
State of Incorp. NV
Fiscal Year End June 30
Industry (SIC) 7372 - Prepackaged Software (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

12/31/2021
TTM
6/30/2021
6/30/2020
6/30/2019
6/30/2018
6/30/2017
6/30/2016
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments25,58833,70520,16717,36622,08914,17311,558
Cash and cash equivalents25,58833,70520,16717,36622,08914,17311,558
Restricted cash and investments      90
Receivables7,1914,18411,41419,24918,2738,42815,382
Contract with customer, asset18,73014,68017,19814,719
Costs in excess of billings 19,12610,493
Other current assets2,5813,0093,1083,1462,7032,4642,215
Other undisclosed current assets  811114,28681714
Total current assets:54,09055,57951,89654,59257,35144,27240,452
Noncurrent Assets
Operating lease, right-of-use asset1,0291,3462,360
Property, plant and equipment10,26512,09211,33012,09716,16520,37122,774
Long-term investments and receivables2,9223,1566,6382,6543,217  
Long-term investments2,9223,1562,3882,6543,217  
Accounts and financing receivable, after allowance for credit loss  4,250    
Intangible assets, net (including goodwill)12,17413,42114,90816,85021,76426,56029,191
Goodwill9,5179,5179,5179,5179,5179,5179,517
Intangible assets, net (excluding goodwill)2,6573,9055,3917,33312,24717,04319,674
Contract with customer, asset, net9869581,3001,281
Other noncurrent assets33554224703,211843
Costs in excess of billings 5,174 
Other undisclosed noncurrent assets    1,2079090
Total noncurrent assets:27,40931,02736,57732,90542,42355,40552,898
TOTAL ASSETS:81,49986,60688,47387,49799,77499,67793,349
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:6,3956,6965,6817,4777,8746,8805,963
Accounts payable8711,0681,3511,1561,6661,4661,347
Accrued liabilities2,9454,5123,3505,0555,5054,4994,171
Employee-related liabilities295228538794303521232
Taxes payable56960830432623417466
Other undisclosed accounts payable and accrued liabilities1,714279138145166220147
Deferred revenue3,7194,5574,095
Debt10,14811,3669,6936,9068,59610,2234,440
Deferred revenue and credits 3,9264,739
Other undisclosed current liabilities7718586476,0666,0388888
Total current liabilities:21,03323,47720,11620,44822,50821,11715,230
Noncurrent Liabilities
Long-term debt and lease obligation4401,2641,540565331367478
Long-term debt, excluding current maturities   67   
Finance lease, liability1207001,540
Capital lease obligations497331367478
Operating lease, liability320564 
Other undisclosed noncurrent liabilities(320)(564)1,340    
Total noncurrent liabilities:4401,2642,880565331367478
Total liabilities:21,47324,74122,99621,01322,83821,48415,708
Stockholders' equity
Stockholders' equity attributable to parent53,10154,65058,98858,06962,79063,39464,304
Common stock122122121119117112107
Treasury stock, value(3,921)(3,821)(1,456)(1,456)(1,205)(454)(415)
Common stock, share subscribed but unissued, subscriptions receivable    (221)(298)(783)
Additional paid in capital129,042129,019128,678127,738126,479124,410121,449
Accumulated other comprehensive loss(34,936)(31,868)(34,085)(33,125)(24,386)(18,075)(18,730)
Accumulated deficit(37,207)(38,801)(34,270)(35,207)(37,995)(42,301)(37,323)
Stockholders' equity attributable to noncontrolling interest6,9257,2156,4898,41514,14614,79913,338
Total stockholders' equity:60,02661,86665,47766,48476,93678,19477,641
TOTAL LIABILITIES AND EQUITY:81,49986,60688,47387,49799,77499,67793,349

Income Statement (P&L) ($ in thousands)

12/31/2021
TTM
6/30/2021
6/30/2020
6/30/2019
6/30/2018
6/30/2017
6/30/2016
Revenues58,04654,92156,37267,81960,93065,36664,550
Revenue, net 50,65149,258
Cost of revenue(31,031)(28,568)(29,409)(33,374)(31,723)(36,958)(33,749)
Cost of goods and services sold(3,064)(2,991)(2,897)(3,526)(4,611)(5,448)(5,927)
Gross profit:27,01526,35326,96334,44629,20728,40830,802
Operating expenses(24,403)(23,632)(25,893)(27,618)(26,152)(29,409)(24,500)
Operating income (loss):2,6122,7211,0706,8283,055(1,001)6,302
Nonoperating income (expense)2,4805671,2636,2474,968197(592)
Foreign currency transaction gain (loss), before tax1,278(597)3996,3465,010307(738)
Other nonoperating income878987224194350225
Interest and debt expense(567)(394)(347)(312)(422)(310)(265)
Other undisclosed income from continuing operations before equity method investments, income taxes477394347312422310265
Income (loss) from continuing operations before equity method investments, income taxes:5,0023,2882,33313,0758,023(804)5,710
Loss from equity method investments(182)(254)(606)(842)(263)  
Other undisclosed income from continuing operations before income taxes91      
Income (loss) from continuing operations before income taxes:4,9103,0341,72712,2337,760(804)5,710
Income tax expense(886)(1,027)(1,141)(1,058)(873)(932)(653)
Other undisclosed income from continuing operations21254606842263  
Income (loss) before gain (loss) on sale of properties:4,0452,2621,19212,0187,150(1,736)5,057
Other undisclosed net income161      
Net income (loss):4,2062,2621,19212,0187,150(1,736)5,057
Net loss attributable to noncontrolling interest(1,309)(483)(255)(3,434)(2,843)(3,242)(1,654)
Net income (loss) available to common stockholders, diluted:2,8981,7789378,5834,307(4,978)3,403

Comprehensive Income ($ in thousands)

12/31/2021
TTM
6/30/2021
6/30/2020
6/30/2019
6/30/2018
6/30/2017
6/30/2016
Net income (loss):4,2062,2621,19212,0187,150(1,736)5,057
Other undisclosed comprehensive income (loss)    (13,461)2,392(3,666)
Comprehensive income (loss):4,2062,2621,19212,018(6,312)6561,391
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(1,309)(483)(255)(3,434)3,075(123)448
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(2,875)2,217(960)(8,739)1,232(4,855) 
Comprehensive income (loss), net of tax, attributable to parent:223,995(23)(156)(2,005)(4,322)1,839

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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