The following is a summary of the NetSol Technologies, Inc. (NTWK) Q3 2024 Earnings Call Transcript:

Financial Performance:

• NetSol Technologies reported Q3 2024 revenue growth and three sequential quarters of profitability.

• Earnings per share for the quarter was $0.03.

• Q3 2024 saw a rise in services revenues by around 60% compared to Q3 2023.

• The company targets a minimum of $28 million in subscription and support revenues for the full year.

• Projected revenue range for FY 2024 is $60-$61 million.

• Cash reserves were approximately $12.3 million by the end of the quarter.

Business Progress:

• NetSol showed the ability to generate profitable results without substantial license fee recognition.

• The company plans to expand customer base globally and particularly in the U.S. market.

• The company presents market opportunities in Professional S. of AWS cloud services, data analytics, and AI-based products.

• Its auto products have found placement in 58 MINI USA dealerships, attracting interest from various OEMs and dealer groups.

• The company is integrating AI-based deep-learning algorithms to improve operational efficiencies and refine its product suite.

• The upcoming year will see the launch of new AI-based offerings.

• The company aspires for double-digit organic revenue growth and improved margins based on recent performance indicators.

More details: NETSOL Technologies Inc IR

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