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Earnings Call Summary | NETSOL Technologies Inc(NTWK.US) Q3 2024 Earnings Conference

Futu News ·  May 21 05:42  · Conference Call

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

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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