Welcome to our dedicated page for Netsol Technologies news (Ticker: NTWK), a resource for investors and traders seeking the latest updates and insights on Netsol Technologies stock.
NETSOL Technologies, Inc. (NASDAQ: NTWK) is a software and technology company focused on AI-powered solutions for the asset finance and leasing industry. The NTWK news feed features company announcements, contract wins, platform launches and financial results that reflect how NETSOL supports automotive and equipment OEMs, auto captives, dealerships and financial institutions across more than 30 countries.
Investors and industry followers can use this page to track NETSOL’s disclosures about its Transcend product family, including Transcend Finance, Transcend Retail and related AI-native tools such as Check AI. Recent news has highlighted multi-year contract extensions with tier-one global auto captives, new multi-million-dollar agreements with auto captive finance companies in regions such as Australia and New Zealand, and greenfield implementations of Transcend Finance for leasing companies entering new markets like Indonesia.
The NTWK news stream also covers deployments of Transcend Retail with U.S. dealer groups, discovery and strategy engagements with large dealership organizations, and strategic cooperation agreements in markets such as China focused on integrated financial services and cross-border data services. In addition, NETSOL regularly issues press releases on quarterly and annual financial results, subscription and support revenue trends, and conference call schedules, which are referenced in its Current Reports on Form 8-K.
By following NTWK news, readers can monitor how NETSOL’s AI-powered and cloud-based platforms evolve, how the company expands relationships with auto captives and dealer groups, and how its financial performance and regional initiatives develop over time.
NETSOL Technologies (NTWK) has appointed Naeem Ghauri, its Co-Founder and former President of Global Sales, as the new President of NETSOL Technologies, Inc., effective immediately. Ghauri will oversee both domestic and international operations and report directly to the Chairman and CEO. His tenure has seen over $500 million in revenue generation, establishing NETSOL's leadership, especially in the APAC region. Ghauri will also continue leading Otoz, NETSOL's mobility subsidiary, which is set for rapid growth.
NETSOL Technologies (NTWK) has signed a multi-year, multi-million-dollar agreement with a leading automotive financial services company in China to transition from its legacy NFS system to the advanced Ascent® platform. This upgrade reflects confidence in NETSOL's service quality and highlights its dominant position with over 75% market share in China's auto finance sector. The transition will occur in three phases, allowing seamless data migration and integration. This contract will generate licensing, support, and service revenues over its duration, further strengthening NETSOL’s market presence.
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NETSOL Technologies (NTWK) reported a net income of $718,000 and an EPS of $0.06 for Q1 fiscal 2021. The company achieved over $5 million in recurring SaaS and support revenues for the first time. The gross profit rose to $6.4 million (50.5% of net revenues), bolstered by a decrease in operating expenses by 18.2% to $5.3 million.
Despite a decrease in total net revenues to $12.6 million, driven by lower license fees, management remains optimistic about future growth, supported by active sales discussions and a strong project pipeline.
NETSOL Technologies (NTWK) announced a conference call scheduled for November 16, 2020, at 9:00 a.m. Eastern to discuss its fiscal first-quarter results ending September 30, 2020. Financial results will be released prior to the call. Participants can access the call by dialing in, with international options available. A replay will be accessible post-call until November 30, 2020. The company specializes in IT and software solutions for the leasing and finance industry, leveraging over 40 years of expertise.
NETSOL Technologies (NTWK) has successfully launched its NFS Ascent® Retail Platform for a leading German auto finance company in China, marking the second phase of a previously announced $30 million contract. This implementation follows the successful rollout of the NFS Ascent® Wholesale Finance Solution. The platform's compliance with Chinese regulations and its powerful applications tailored for the local market are emphasized. The company looks forward to strengthening its presence in the Asia-Pacific region, appreciating the dedicated efforts of its remote development teams during the project.
NETSOL Technologies (NTWK) has rescheduled its fiscal Q4 and full year 2020 conference call to September 28, 2020, at 9:00 a.m. ET. The call will discuss the company's financial results for the year ending June 30, 2020. Results will be issued in a press release prior to the call. Management will host a presentation followed by a Q&A session. Call-in details are provided, with a live broadcast and replay available via the investor relations section of NETSOL's website.
NETSOL Technologies, Inc. (Nasdaq: NTWK) has announced the rescheduling of its fiscal fourth quarter and full year 2020 earnings conference call, initially set for September 24, 2020. The delay is due to the need for additional time to complete the audit of its Annual Report on Form 10-K for the fiscal year ending June 30, 2020. The company expects to file the report by the SEC deadline on September 28, 2020, with a new date for the earnings release and conference call to follow.
NETSOL Technologies, Inc. (Nasdaq: NTWK) will hold a conference call on September 24, 2020, at 9:00 a.m. Eastern Time to discuss its fiscal fourth quarter and full-year results ended June 30, 2020. The financial results will be released prior to the call, which will include a management presentation followed by a Q&A session. Interested participants should dial in 5-10 minutes early. The call will also be available for replay.
NETSOL specializes in IT and enterprise software solutions for the global leasing and finance industry, leveraging 40 years of expertise.
NETSOL Technologies (NASDAQ: NTWK) has launched its cloud-based NFS Ascent™ Contract Management System in North America, partnering with SCI Lease Corp, a Canadian automotive leasing firm. This deployment, completed in just eight months amidst a remote-work setting, marks a significant achievement for NETSOL. With the introduction of flexible pricing options, the company aims to enhance sales opportunities and expand its market footprint. The partnership promises improved lease management and customer service for SCI, signifying a strong start for both companies in a challenging environment.
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