Business
NETSOL Technologies reports record quarterly revenue and 13% year-over-year growth in Q3 fiscal 2026
ENCINO, Calif., May 14, 2026 (GLOBE NEWSWIRE) -- NETSOL Technologies, Inc. (Nasdaq: NTWK), a provider of AI-enabled solutions and services powering OEMs,
About this update from Netsol Technologies Inc.
[{"type":"text","content":"ENCINO, Calif., May 14, 2026 (GLOBE NEWSWIRE) -- NETSOL Technologies, Inc. (Nasdaq: NTWK), a provider of AI-enabled solutions and services powering OEMs, dealerships and financial institutions to sell, finance and lease assets, reported its results for the third quarter of fiscal 2026 and nine months ended March 31, 2026. Total net revenues up 13.0% year-over-year to $19.8 million, the highest quarterly revenue in company historyRecurring subscription and support revenues up 11.7% year-over-year to $8.8 millionAnnualized recurring revenue forecasted up 7% year-over-year to $35 millionGross margin expanded to 55.6% from 49.8% in the prior-year periodNon-GAAP EBITDA grew by 48.2% year-over-year to $3.4 million, for a 17.2% EBITDA margin compared with 13.1% in the prior-year periodReaffirmed fiscal 2026 full-year revenue guidance of $73 million Third Quarter Fiscal 2026 Financial Results Total net revenues for the third quarter of fiscal 2026 were $19.8 million, a record for the company, compared with $17.5 million in the prior-year period, an increase of 13.0%. Recurring subscription and support revenues for the third quarter were $8.8 million, an increase of 11.7%, compared with $7.9 million in the prior-year period. License fees for the third quarter were $4.7 million, compared with $1,198 in the prior-year period. The increase reflected higher license fees associated with the recognition of a one-time license investment from a four-year, $50 million contract extension with one of NETSOL’s longest-tenured tier-one global auto captive customers. Services revenues for the third quarter were $6.3 million, compared with $9.7 million in the prior-year period, primarily reflecting the timing and composition of current implementation projects, as well as a one-time approximately $2.4 million pickup in the prior-year period associated with a customer contract amendment. Gross profit for the third quarter was $11.0 million or 55.6% of net revenues, compared with $8.7 million or 49.8% of net revenues, in the prior-year period. GAAP net income attributable to NETSOL was $1.3 million or $0.11 per diluted share, compared with $1.4 million or $0.12 per diluted share, in the prior-year period. Non-GAAP EBITDA was $3.4 million, compared with $2.3 million in the prior-year period (see note regarding “Use of Non-GAAP Financial Measures,” below). ...