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SEGMENT INFORMATION AND GEOGRAPHIC AREAS
 12 Months Ended
Jun. 30, 2024
Segment Reporting [Abstract]  
SEGMENT INFORMATION AND GEOGRAPHIC AREAS

NOTE 20 – SEGMENT INFORMATION AND GEOGRAPHIC AREAS

 

The Company has identified three segments for its products and services: North America, Europe and Asia-Pacific. The reportable segments are business units located in different global regions. Each business unit provides similar products and services; license fees for leasing and asset-based software, related post contract support fees, and implementation and IT consulting services. Separate management of each segment is required because each business unit is subject to different operational issues and strategies due to their particular regional location. The Company accounts for intra-company sales and expenses as if the sales or expenses were to third parties and eliminates them in the consolidation.

 

The following table presents a summary of identifiable assets as of June 30, 2024 and 2023:

 

   As of   As of 
   June 30, 2024   June 30, 2023 
Identifiable assets:          
Corporate headquarters  $808,385   $878,899 
North America   6,114,142    7,344,122 
Europe   9,410,098    8,716,656 
Asia - Pacific   47,853,817    41,439,733 
Consolidated  $64,186,442   $58,379,410 

 

The following table presents a summary of revenue streams by segment for the years ended June 30, 2024 and 2023:

 

   License fees   Subscription and support   Services   Total   License fees   Subscription and support   Services   Total 
   2024   2023 
   License fees   Subscription and support   Services   Total   License fees   Subscription and support   Services   Total 
                                 
North America  $-   $4,693,618   $1,240,179   $5,933,797   $28,000   $4,398,429   $1,690,853   $6,117,282 
Europe   112,524    3,383,312    8,471,966    11,967,802    136,151    2,682,407    7,939,886    10,758,444 
Asia-Pacific   5,337,467    19,875,838    18,278,187    43,491,492    2,105,413    18,899,825    14,512,251    35,517,489 
Total  $5,449,991   $27,952,768   $27,990,332   $61,393,091   $2,269,564   $25,980,661   $24,142,990   $52,393,215 

 

 

NETSOL TECHNOLOGIES, INC.

Notes to Consolidated Financial Statements

June 30, 2024 and 2023

 

The following table presents a summary of operating information for the years ended June 30:

 

   2024   2023 
   For the Years 
   Ended June 30, 
   2024   2023 
Revenues from unaffiliated customers:          
North America  $5,933,797   $6,117,282 
Europe   11,967,802    10,758,444 
Asia - Pacific   43,491,492    35,517,489 
Revenues from unaffiliated customers   61,393,091    52,393,215 
Revenue from affiliated customers          
Asia - Pacific   -    - 
    -    - 
Consolidated  $61,393,091   $52,393,215 
           
Intercompany revenue          
Europe  $391,921   $394,962 
Asia - Pacific   11,550,233    9,075,861 
Eliminated  $11,942,154   $9,470,823 
           
Net income (loss) after taxes and before non-controlling interest:          
Corporate headquarters  $(1,433,734)  $(501,560)
North America   (286,924)   92,674 
Europe   (761,600)   (949,214)
Asia - Pacific   4,560,187    (2,786,373)
Consolidated  $2,077,929   $(4,144,473)
           
Depreciation and amortization:          
North America  $1,712   $2,523 
Europe   231,018    303,907 
Asia - Pacific   1,489,070    2,938,108 
Consolidated  $1,721,800   $3,244,538 
           
Interest expense:          
Corporate headquarters  $34,906   $23,639 
North America   -    - 
Europe   9,297    8,955 
Asia - Pacific   1,097,963    732,436 
Consolidated  $1,142,166   $765,030 
           
Income tax expense:          
Corporate headquarters  $800   $12,372 
North America   800    1,600 
Europe   333,071    46,747 
Asia - Pacific   810,847    865,841 
Consolidated  $1,145,518   $926,560 

 

 

NETSOL TECHNOLOGIES, INC.

Notes to Consolidated Financial Statements

June 30, 2024 and 2023

 

The following table presents a summary of capital expenditures for the years ended June 30:

 

   2024   2023 
   For the Years 
   Ended June 30, 
   2024   2023 
Capital expenditures:          
North America  $-   $4,881 
Europe   179,102    33,185 
Asia - Pacific   336,302    1,601,372 
Consolidated  $515,404   $1,639,438 

 

Geographic Information

 

Disclosed in the table below is geographic information for each country that comprised greater than five percent of total revenues for the years ended June 30, 2024 and 2023.

 

   June 30, 2024   June 30, 2023 
   Revenue   Long-lived Assets   Revenue   Long-lived Assets 
                 
China  $20,747,744   $354,122   $15,120,449   $631,713 
Thailand   3,636,153    929,651    2,260,699    207,280 
USA   4,853,541    5,001,527    5,057,470    4,805,841 
UK   12,175,959    4,454,940    10,758,444    4,276,754 
Pakistan & India   2,229,067    5,787,820    2,087,018    6,845,753 
Australia & New Zealand   5,454,383    7,168    7,018,095    8,202 
Mexico   1,080,256    -    1,059,812    - 
Indonesia   4,475,356    189,131    2,903,163    - 
South Africa   857,218    -    752,603    - 
South Korea   2,491,606    -    1,954,982    - 
Other Countries   3,391,808    -    3,420,480    - 
Total  $61,393,091   $16,724,359   $52,393,215   $16,775,543 

 

 

NETSOL TECHNOLOGIES, INC.

Notes to Consolidated Financial Statements

June 30, 2024 and 2023

 

Disclosed in the table below is the geographic information of total revenues by country for the years ended June 30, 2024 and 2023.

 

   Total   China   Thailand   USA   UK   Pakistan & India   Australia & New Zealand   Mexico   Indonesia   South Africa   South Korea   Other Countries 
   Revenues 2024 
   Total   China   Thailand   USA   UK   Pakistan & India   Australia & New Zealand   Mexico   Indonesia   South Africa   South Korea   Other Countries 
                                                 
North America:  $5,933,797   $-   $-   $4,853,541   $-   $-   $-   $1,080,256   $-   $-   $-   $- 
Europe:   11,967,800    -    -    -    11,967,800    -    -    -    -    -    -    - 
Asia-Pacific:   43,491,494    20,747,744    3,636,153    -    208,159    2,229,067    5,454,383    -    4,475,356    857,218    2,491,606    3,391,808 
                                                             
Total  $61,393,091   $20,747,744   $3,636,153   $4,853,541   $12,175,959   $2,229,067   $5,454,383   $1,080,256   $4,475,356   $857,218   $2,491,606   $3,391,808 

 

   Total   China   Thailand   USA   UK   Pakistan & India   Australia & New Zealand   Mexico   Indonesia   South Africa   South Korea   Other Countries 
   Revenues 2023 
   Total   China   Thailand   USA   UK   Pakistan & India   Australia & New Zealand   Mexico   Indonesia   South Africa   South Korea   Other Countries 
                                                 
North America:  $6,117,282   $-   $-   $5,057,470   $-   $-   $-   $1,059,812   $-   $-   $-   $- 
Europe:   10,758,444    -    -    -    10,758,444    -    -    -    -    -    -    - 
Asia-Pacific:   35,517,489    15,120,449    2,260,699    -    -    2,087,018    7,018,095    -    2,903,163    752,603    1,954,982    3,420,480 
                                                             
Total  $52,393,215   $15,120,449   $2,260,699   $5,057,470   $10,758,444   $2,087,018   $7,018,095   $1,059,812   $2,903,163   $752,603   $1,954,982   $3,420,480 

 

 

NETSOL TECHNOLOGIES, INC.

Notes to Consolidated Financial Statements

June 30, 2024 and 2023