Q4 2024 NetSol Technologies Inc Earnings Call

Speaker Change: [inaudible]

Speaker Change: [inaudible] Najeeb, Najeeb,

Patti McGlasson: Patti McGlasson, Naeem Ghauri, Roger Almond, Naeem Ghauri, Roger Almond, Todd Felte, NetSol Tech. Good morning and welcome to NetSol Technology's fiscal fourth quarter and UN 2024 earnings conference call. On the call today are Naeem Ghauri, Co-Founder, Chairman and Chief Executive Officer, and Roger Almond, Chief Financial Officer.

Speaker Change: [inaudible]

Speaker Change: Good morning and welcome to Net's All Technology's fiscal fourth quarter and year end 2024 earnings conference call. On the call today are Najeeb Ghauri, co-founder, chairman and chief executive officer and Roger Almond to financial officer.

John Nesbitt: I would now like to turn the call over to John Nesbitt, who will provide the necessary cautions regarding the forward-looking statement made by management during this call. Please proceed.

John Nezbett: I would now wait to turn the call over to John Nezbett who will provide the necessary caution regarding the forward-looking statements made by management during this call. Please proceed.

John Nesbitt: Good morning, everyone, and thank you for joining us. Following review of the company's business highlights and financial results, we will open the call for questions. And I'll provide the necessary cautions regarding the forward-looking statements made by management during this call. Please note that all the information discussed on today's call is covered under the Safe Harbor provision of the Private Securities Litigation Reform Act. The company's discussion may include forward-looking statements reflecting management's current forecast of certain aspects of the company's future, and their actual results could differ materially from those stated or implied. These forward-looking statements are qualified by the cautionary statements contained in NetSol's press releases and SEC filings, including our annual report on Form 10-K and quarter reports on Form 10-Q.

John Nezbett: Good morning, everyone and thank you for joining us.

John Nezbett: Bollinger review of the company's business highlights and financial results. We will open a call for questions. I'll provide the necessary caution regarding the forward-looking statements made by management during this call.

John Nezbett: Please note that all the information is discussed on today's calls covered under the Safe Harbor provision of the private securities litigation reform act.

John Nezbett: The company's discussion may include forward-looking statements reflecting management's current forecast of certain aspects.

John Nezbett: of the company's future and our actual results could differ materially from those stated or applied.

John Nezbett: These four-looking statements are qualified by the cautionary statements containing net-cells press releases and net-cells E-fileings.

John Nezbett: including our annual report on Form 10K, and the report reports on Form 10Q. I'd also like to point out that we will be discussing certain non-gab measures. The press release issued earlier today contains a reconciliation of these non-gab financial results to their most comparable gap measures.

John Nesbitt: I'd also like to point out that we will be discussing certain non-GAB measures. The press release issued earlier today contains a reconciliation of these non-GAB financial results to their most comparable GAB measures. Finally, I would like to remind everyone that this call will be recorded and made available for replay at www.netSoltech.com and via the link available in today's press release.

John Nezbett: Finally, I would like to remind everyone that this call will be recorded and made available for replay at www.netsaltac.com and via link available in today's press release. Now I'd like to turn the call over to Najeeb. Go ahead and teach!

Naeem Ghauri: Now I'd like to turn the call over to NGee. Go ahead, NGee.

Naeem Ghauri: Thank you, John, and good morning, everyone. Today, I'm calling from the way I saw the radio. It was one of the fastest-doing economies in the world.

Najeeb Ghauri: Thank you, John, and good morning, everyone. Today I'm calling from the way I talk to the radio, which is one of the fastest doing economy in the world.

Naeem Ghauri: In the full fiscal year 2024, we recognize a 17% increase in revenue to $61.4 million, exceeding our full-year revenue target of between $60 to $61 million and driving full-year profitability with earning pressure to take revenge. We also met our fiscal year 2024 annual revenue of $28 million. We are very proud of the results, which are in line with our growth strategy and validate our hard work and execution for the past several years as we evolved and repositioned our business to meet the shifting demands of our customers and the markets in which we operate. In parallel, with our revenue growth and profitability, a key focus for us this past year has been proactively managing costs while investing in the growth areas of our business.

Tori Cori: In the full fiscal year, Tori Cori 4, we recognize a 17% increase in revenue to 61.4 million dollar.

Speaker Change: Exceeding our full-year revenue target of between 60 to 61 billion dollars and driving full-year profitability with earning pressure makes sense.

Speaker Change: We also met our fiscal 24 annual declaring revenue of 28 billion dollar. We have very proud of these results.

Speaker Change: which are in line with a growth strategy and validate our hard work, execution for the past several years and we evolved and repositioned our business to meet the shifting demands of our customers and the markets in which we operate.

Speaker Change: In parallel with our revenue growth and profitability, a key focus for us this past year has been proactively managing costs while investing in the growth areas of our business.

Naeem Ghauri: Throughout the year, we increased our investment in sales and marketing to support our long-term growth goals in what we consider to be a favorable market environment. We also place an emphasis on new product development and introduction, as evidenced by example for full-year product and service offerings. We have transcended the complex digital retail and financing processes, for example, to deliver an end-to-end digital retail experience for many USA in less than seven months. Virtually unheard-of in our space because we understand the e-commerce side of carbying as well as the financing complexities.

Speaker Change: Throughout the year, we increase our investment in sales and marketing to support a long-term growth goals in what we consider to be a favorable market environment.

Speaker Change: We also plays an emphasis on new product development and introduction as evidence, by example, portfolio of product and service offerings.

Speaker Change: We have transcended the complex digital retail and son-in-thing processes. For example, the delivered and end to and digital retail experience, the company USAID in less than 11 months.

Speaker Change: Virtually unheard of in our stays because we understand the e-commerce side of carbine as well as the financing complex disease.

Naeem Ghauri: Another major focus on this past year has been innovation and integration of AI into both our products and services, as well as our internal operations. Global technology company with large presentives in key markets, we are a well-positioned to take considerable advantage of the tremendous opportunity that AI presents to our industry and potentially expand into new verticals as we continue to innovate, adapt and improve our technology to meet customer and industry demands. To that end, we are pleased to have added a top challenge to our already impressive team of AI experts, and we will continue to look for leaders in the AI industry that are aligned with netsof goals and values and can help us to further innovate and enhance our AI capabilities.

Speaker Change: and other major focus on this past year has been the innovation and integration of AI into both our products and services as well as our internal operations.

Speaker Change: and a global technology company with large businesses in teamwork.

Speaker Change: We are well positioned to take considerable advantage of the tremendous opportunity that AI presents to our industry and potentially.

Speaker Change: Expand is the new verticals as we continue to innovate, adapt and improve our technology to meet customer and industry demands.

Speaker Change: To that end

Speaker Change: We are pleased to have added a top talent to our already impressive team of AI experts and will continue to look for leaders in the AI industry that are aligned the necessary goals and values and can help us to further innovate and enhance our AI capabilities.

Naeem Ghauri: As a global company, we place an emphasis on our presence in key geographic markets. As is spoken to on previous calls, our most vibrant market has historically been a share-specific AI impact in which people's leading market share and service customers include major tier-one automakers and banks throughout the region. Europe has also been a strong market for us where we service a variety of different banks, financial institutions, and financial companies that are comprehensive will fully. We are also seeing considerable demand for our products and services in the United States, actually, for our sales based off-ings. Autos, our only channel, digital retail platform, has experienced strong demand in the U.S.

Speaker Change: and the Global Company, we play as an emphasis and our presence in key geographic markets.

Speaker Change: As you spoken to on previous calls

Speaker Change: I'm most vibrant market.

Speaker Change: and Stority being a chef at Ciphany.

Speaker Change: Impact in Witch.

Speaker Change: People does a leading market share.

Speaker Change: and Service Customers include Major Tier 1 automakers and banks throughout the region.

Speaker Change: Gyoza has gone to be in a strong market for us, where we service a variety of different banks, financial institutions, and financial companies that are comprehensive for fully products and also in New York.

Speaker Change: We are also seeing considerable demand for products and services in the United States, especially for our sense based off-winged.

Speaker Change: Autos are only channel digital retail platform has experienced strong demand in the U.S. among many anywhere dealership which are if necessary a BMW G-Op.

Naeem Ghauri: among many Anywhere dealerships, which are a subsidiary of BMW. Additionally, the fitment to the close of the quarter, we signed a $15 million, five-year deal with BMW in the U.S. to revolutionize the digital car buying experience for the customers in the U.S. This deal includes the customization, implementation, deployment, and ongoing sales description of Autos, which is the largest deal today by a dollar of value for NetSol in the U.S. And we are still on the beginning to scratch the surface of this market. The U.S. represents an extremely attractive opportunity for our business, and with a strong pipeline of potential deals for both our sales and a licensed product, we are very excited with the process that we are looking ahead of us.

Speaker Change: Editionelli, subsequent to the closer the quarter, we signed a $15 million five year deal with the BMW in the U.S. to the

Speaker Change: This deal includes the customization, implementation, deployment, and ongoing status, description of autos is the largest deal today by dollar value per nest sold in the US.

Speaker Change: and we are still on only beginning to scratch the surface surface of this market.

Speaker Change: The U.S. represents an extreme means attractive opportunity for our business, and with a strong pipeline of potential beyond the votes of our sales and licensed products, we have very excited, but the prospects that we are looking at the end of one day.

Naeem Ghauri: Complimenting our geographic tensions is a stickiness of our customer base. We have developed a strong base of loyal recurring customers over the last four years. We have increased our customer retention rate from approximately 90% in 2021 to just below 95%, and 20% for demonstrating the superior performance and reliability of our product and services.

Speaker Change: Company-mending geographic extension is a stickiness of what customer base.

Speaker Change: We have developed strong based on loyal recurring customers all the last four years.

Speaker Change: We have increased our customer retention rate from approximately 90% in 2021 to just below 95% in 2020 for demonstrating the superior performance and reliability of our product and services.

Naeem Ghauri: Before I hand the call over to our CEO for Raju Amand, I like to provide a sneak peek of what's in store for NetSol as we move into fiscal 2025. We expect this to be another year of strong growth for our business as we build on the progress that made in fiscal 2024, and we are targeting double-digit growth in fiscal 2025 driven by enhanced sales performance and market recognition of our product and services. Our established markets are strong, and we are experiencing the new demands specifically in impact, as evidenced by our recent deal with the major automaker from the operation in China that brings the total value of over $30 million over five years.

Speaker Change: Before I hand the call over to our CFO Roger Almond, I'd like to provide a sneak peek of what's in store for Nestle as we move into physical clinic on your bise.

Roger Almond: We expect this to be another year of strong growth for our business.

Speaker Change: as he as he build on the progress that may in just 2020 so far.

Speaker Change: and we are targeting double digit growth.

Speaker Change: in fiscal 2020-5 driven by enhanced steel performance and market recognition of our product and services.

Speaker Change: I still wish my sister strong

Speaker Change: and we are experiencing the new demand specifically in the impact as evidence by our recent deal with the major automaker from the oppression in China that brings the total value of over 30 million dollars over five years.

Naeem Ghauri: This activity coupled with our opportunities in the U.S. positions as for a continible growth in the year ahead.

Speaker Change: This activity coupled with our opportunities in the U.S. positions as for a continuitable growth in the year ahead.

Naeem Ghauri: Moreover, we are taking a fresh look at the portfolio of NetSol products and how they fit together. We expect to be announcing shortly a comprehensive rear branding of our suite of products to more clearly differentiate and better line our brands without target markets. So, stay tuned as there is more to come on this front; suffice to say for now that I'm very excited about the work being done on this front.

Murrower: Murrower, Murrower, we are taking your fresh look at the portfolio of natural products and how they fit together.

Murrower: We expect to be announcing shortly a comprehensive reabranding of our suite of products to more clearly differentiate and better line our brands without target markets.

Murrower: So stay tuned as they will more to come on this front that suffice to say for now that I am very excited for the work being done on this front.

Roger Almond: With that, I'll now hand the call to our CEO, Raju Amand, to talk about the financial results.

Roger Almond: with that, I will now handle your court, your TFU, Roger Almond, to talk about the financial results, go ahead, Roger.

Roger Almond: Go ahead, Raju. Thanks, Najeeb. I'm pleased to report that for the fourth quarter and full year we saw increased revenue with significant increases in our margins and profitability. We also exited the year with a stronger balance sheet, with an increased cash position as well as improved shareholder's equity. Our total net revenues for the fourth quarter of fiscal 2024 were 16.5 million, compared with 13.8 million in the prior year period. For the full year, total net revenues were 61.4 million compared with 52.4 million in 2023. As Najeeb mentioned, our full fiscal year 2024 revenue exceeded our full year revenue target of between 60 and 61 million.

Roger Almond: Thanks Najeeb, I'm pleased to report that for the fourth quarter and full year we saw increased revenue with significant increases in our margins and profitability.

Roger Almond: We also exited the year with a stronger balance sheet with an increased cast physician as well as improved shareholder's equity.

Roger Almond: Our total net revenue for the fourth quarter of fiscal 2024, where we have 16.5 million compared with 13.8 million in the prior year period.

Jade: For the full year, total net revenues were 61.4 million compared to 52.4 million in 2023. As the Jade mentioned, our full fiscal year, 2020 for revenue exceeded our full year revenue target of between 60 and 61 million.

Roger Almond: License D for the fourth quarter of fiscal 2024 were 621,000 compared with 21,000 in the prior year period. Full fiscal year 2024 license fees worth 5.5 million compared with 2.3 million in the prior year period. Recurring revenues were subscription and support revenues for the fourth quarter of fiscal 2024 were 7.5 million compared with 6.8 million in the prior year period. Recurring revenues for the full year 2024 were 28 million, in line with our annual recurring revenue target of 28 million in 2024. Full year 2023 recurring revenues total 26 million. Total services revenue for the fourth quarter of fiscal 2024 were 8.4 million compared with 7 million in the prior year period.

Jade: License C for the fourth quarter of fiscal 2024, were 621,000 compared with 21,000 in the prior year period. Both fiscal year 2024 license Cs were 5.5 million compared with 2.3 million in the prior year period.

Jade: Recuring revenues were subscription and support revenues for the fourth quarter of fiscal 2024 or 7.5 million compared to 6.8 million in the prior year period.

Jade: Recurring revenues for the full year 2024-28 million in line with our annual Recurring Revenue Target at 28 million in 2024. 4 year 2023 Recurring Revenue total 26 million.

Jade: Total services revenue for the fourth quarter of fiscal 2024 were 8.4 million compared to 7 million in the prior year period. Total services revenue for the full fiscal year 2024 were 28 million compared to a 24.1 million in the prior year period.

Roger Almond: Total services revenue for the full fiscal year 2024 was 28 million compared with 24.1 million in the prior year period. Gross profit for the fourth quarter of fiscal 2024 was 8.5 million, or 52% of net revenues, compared with 4.8 million, or 35% of net revenues in the prior year period. For the full fiscal year 2024, gross profit total 29.3 million or 48% of net revenues, compared with 16.9 million or 32% in net revenues in fiscal 2023. Operating expenses for the fourth quarter of fiscal 2024 were 7.7 million or 47% of sales, compared to 7.7 million or 56% of sales in the same period last year.

Jade: Gross Prophet for the 4th quarter of fiscal 2024 was 8.5 million or 52% of net revenues compared with 4.8 million or 35% of net revenues in the prior year period.

Jade: For the full fiscal year of 2024, girls profit totals 29.3 million or 48% of net revenues, compared to a 16.9 million or 32% net revenues in fiscal 2023.

Jade: Operating expenses for the fourth quarter at fiscal 2024 were 7.7 million or 47% of sales compared to 7.7 million or 56% of sales in the same period last year.

Roger Almond: Operating expenses for the full fiscal year total 25.8 million or 42% of sales, compared with 25.7 million or 49% of sales in fiscal 2023. Income from operations for the fourth quarter of fiscal 2024 was 798,000, compared to a loss from operations of 2.9 million in the fourth quarter of fiscal 2023. Income from operations in fiscal 2024 was 3.5 million, compared with the loss from operations of 8.8 million in the prior year period.

Jade: Operating expenses for the full fiscal year total 25.8 million or 42% of sales compared to 25.7 million or 49% of sales in fiscal 2023.

Jade: Income from Operations for the fourth quarter of fiscal 2024 was 798,000 compared to the loss from operations is 2.9 million in the fourth quarter of fiscal 2023.

Jade: Income from operations in fiscal 2024 was 3.5 million, compared with the loss of operation to 8.8 million in the prior year period.

Roger Almond: Turning to our profitability metrics, our GapNet loss attributed to all the net sold for the fourth quarter of fiscal 2024 was 83,000, or 1 cent per diluted share, compared with a GapNet loss of 5.1 million, or 45 cents per diluted share, in the fourth quarter of fiscal 2023. for the full physical year, Gap Net Incam, a tribute role to NetSol, total of 684,000 or six cents per diluted share, impaired with a Gap Net loss, a tribute role to NetSol of 5.2 million or 46 cents per diluted share in physical 2023. Moving to a non-GAAP metrics, non-GAAP evened off of the fourth quarter of physical 2024 was 1.2 million or 11 cents per diluted share, impaired with a non-GAAP EBITDA loss of 4.5 million or 40 cents per diluted share in the fourth quarter of the previous fiscal year.

Jade: Turning to our profitability metrics, our GapNet loss, a tribute role to Net Soul for the fourth quarter at fiscal 2024, was 83,000 for one cent for the alluded share.

Jade: Compared with a gap net loss of 1.1 million or 45 cents per diluted share in the fourth quarter of fiscal 2023.

Jade: For the full fiscal year, Gap net income attributable to net sole total 680-4,000 or 6 cents per diluted share, impaired with a Gap net loss attributable to net sole of 5.2 million or 46 cents per diluted share in this will 2023.

Jade: Moving to our non-gap metrics, non-gap eavesdough for the fourth quarter of this with 2024.

Jade: was 1.2 million, or 11 cents per divided share, compared with the non-gap, even got loss of 4.5 million, or 40 cents per divided share in the fourth quarter of the previous fiscal year.

Roger Almond: For the full physical year 2024, non-GAAP EBITDA was 4.2 million or 37 cents per diluted share, impaired with a non-GAAP EBITDA loss of 426,000 or 4 cents per diluted share in physical 2023. Non-Gap adjusted EBITDA for the fourth quarter of physical 2024 was 674,000 or 6 cents per diluted share, impaired with a non-Gap adjusted EBITDA loss of 4.2 million or 37 cents per diluted share in the fourth quarter of physical 2023. Non-GAAP adjusted EBITDA in the full physical year 2024 was 2.7 million or 23 cents per diluted share, impaired with a non-GAAP adjusted EBITDA loss of 2.3 million or 20 cents per diluted share in physical 2023.

Jade: For the full fiscal year 2024, non-gap even does 4.2 million or 37 cents per diluted share, compared with the non-gap even the loss of 126,000 or 4 cents per diluted share in fiscal 2023.

Speaker Change: Nungap suggested Eva Dough for the fourth quarter fiscal 2024 with 6774,000 or 6th since Purdue Lv this year, compared with the Nungap suggested Eva Dough loss at 4.2 million or 37th since Purdue Lv this year in the fourth quarter fiscal 2023.

Speaker Change: Non-Gapagetic Ibiza in the 4th of year 2024 was 2.7 million or 23 cents per dilute this year compared with a non-Gapagetic Ibiza loss of 2.3 million or 20 cents per dilute this year in fiscal 2023.

Roger Almond: Please see the reconciliation schedules contained in our earnings release for our revised calculations of adjusted EBITDA for the quarters and fiscal years ended June 30, 2024, and 2023. Turning to our balance sheet at the year end, we had cash and cash equivalence of approximately 19.1 million, from 15.5 million at June 30 last year. Total Nestle stockholders' equity at June 32, 2024 was 34.8 million or $3.5 per share.

Speaker Change: Please take the reconciliation skills contained in our earnings release for our revised calculations of adjusted e-bada for the quarters and fiscal years and the June 32,24 and 2023.

Speaker Change: Turning to our balance sheet at the year end, we had cash in cash equivalent of approximately 19.1 million up from 15.5 million at June 30 last year.

Speaker Change: Total Nestle stockholders equity at 2324 was 34.8 million or $3.5 per share.

Roger Almond: That concludes my prepared remarks.

Naeem Ghauri: I'll now turn the call back over to NGeeb. NGeeb?

Speaker Change: That concludes my prepared remarks. I'll now turn a call back over to Najeeb. Najeeb.

Naeem Ghauri: Thank you, Roger. We are so pleased with these results and progress that we made in physical 2024, and we look forward to carrying the momentum into physical 2023 and beyond as you drive continued growth and value for our shareholders.

Najeeb Ghauri: Thank you, Roger. We are so pleased with these results and progress that we made in fiscal 2021 before and we look forward to carrying the momentum into fiscal quarter-infinite and beyond as you drive continuous growth and values for shareholders. But that I like to open the

Operator: But that I like to open the call for question and answers operator. Thank you. At this time, we'll be conducting a question-and-answer session. If you'd like to ask a question, please press star one on your telephone keypad. A confirmation tone will indicate your line is in the question queue. You may press star two if you'd like to remove your question from the queue. For participants using speaker equipment, it may be necessary to pick up your handset before pressing the star keys. One moment, please. We'll pull for questions. Thank you.

Najeeb Ghauri: [inaudible]

Speaker Change: Thank you. At this time we'll be conducting a question and answer session. If you'd like to ask a question, please press star 1 on your telephone keypad. A confirmation tone will indicate your line is in the question queue. You may press star 2 if you'd like to remove your question from the queue. For participants using speaker equipment, it may be necessary to pick up your handset before pressing the star keys.

Speaker Change: Patti McGlasson, Najeeb Ghauri, Najeeb Ghauri,

Jeff Seagman: Our first question comes from the line of Jeff Seagman with Seagman Capital. Please proceed with your question.

Speaker Change: Thank you. Our first question comes from the line of Jeff Siegman with Siegman Capable. Please proceed with your question.

Naeem Ghauri: Hey guys, thanks for taking the questions. A couple here. So first off, AI clearly continues to be a key focus. Can you kind of share any specific updates that you're especially excited about? Yeah, thank you for that question. We are particularly excited about the early adoption of AI within our relation at its position as for a strong competitive advantage in the market. We have an AI adoption strategy in place where we have taken a holistic approach firstly by targeting AI into our product and services. We are able to enhance customer experiences through personalization, automation, and predictive and analytics, which drive better outcomes.

Jeff Siegman: Hey guys, thanks for taking the questions. A couple here. So first off, AI, clearly continues to be a key focus. Can you kind of share any specific updates that you're especially excited about?

Speaker Change: Yes, thank you for the question. We are particularly excited about the early adoption of AI within our graduation at its positions.

Speaker Change: A for a strong competitive advantage in the market.

Speaker Change: We have an AI adopted strategy in place where we have taken a holistic approach, firstly, by forgetting AI into our product and services, we are able to enhance customer experiences, through personalization, automation and predictive analytics.

Naeem Ghauri: We are not going on in this front. We are nested in the suitable investment and people are hired to work with new initiatives. Companies are really excited about the change in making AI. Internally, we are focusing on training employees to effectively leverage AI tools, transforming our operations by improving efficiency, reducing manual effort and operational costs, and significantly boosting productivity. Bottom line is our idea. The adoption is fast enough to make sure our customers are getting what they want as things go forward in the future. We have a dominant position in China, especially which is our biggest market so far.

Speaker Change: with which Gly Bell are coming. We are not going on in this front, we are not in a reasonable investment and people are hired to profit the new initiatives, companies really excited about the change they will make in AI.

Speaker Change: Internally, we are focusing on training employees to effectively leverage AI tools, transforming our operations by improving efficiency, releasing manual effort and operational costs and significantly boosting productivity.

Baramayana: Baramayana is our idea, adoption is fast enough to make sure that customers are getting what they want as things go forward in the future.

Speaker Change: Thank you and just one more so you mentioned a new demand on your existing markets, especially Asia Pacific, can you expand on the trends you're seeing there?

Speaker Change: We have a...

Speaker Change: and Dominion position in China, especially which is a big market so far, we have perhaps if I present the market in this particular space, our customer will continue to adopt our flagship.

Naeem Ghauri: We have perhaps a 5% of the market share in this particular space. Our customer will continue to adopt our flagship Ascent. There is more demand because the market has grown. We have customers who are still wanting more and more. So basically with the BMW biggest customer in China and Denver Bank, which is also the two largest customers in many other needs. I believe we have established reputation over the last 20 years since we're done for. Very well known name, customers work with this, closely with our teams and offices in Beijing and China and Shanghai, and of course they work very closely with our back of history.

Speaker Change: Assigned to...

Speaker Change: There's more demand because the market has grown. We have customer who are still wanting more and more. So basically with the BMW, we have biggest customer in China and Denver, which is also the two largest customers and many other need, I believe.

Speaker Change: We have established the reputation of the last 20 years since we're done for a very well-known customer to work with us closely without teams.

Speaker Change: of the new Beijing China and Shanghai. And of course, it was very closely without that of history. So, there is a lot of concern and excitement of what we do for China and the customer as we listen to the word gets out.

Jeff Seagman: So there's a lot of comfort and excitement of what we do for China, and the customer is really, so the word gets out. What is necessary doing, and I'm pretty comfortable to say that we are the leading company without it out of the whole China and Asia-Pacific. What you've done in my 20 years. So China market is really good for us. Got it. All right, that's helpful. Thank you. That's all from me. Thank you. Please, gentlemen, as a reminder, it's star one to join the question, Q.

Speaker Change: and I'm pretty confident that we are the leading company without a doubt out of the whole China and it's a perfect, what you've done last one a year. So China, Martin is living pretty good for us.

Speaker Change: Alright, that's helpful. Thank you. I'll talk from there.

Speaker Change: Thank you. Thank you. Ladies and gentlemen, as a reminder, it's star one to join the question. Our next question comes from the line of Todd Felty with ages financial. Please proceed with your question.

Todd Felte: Our next question comes from the line of Todd Felte with Aegis Financial. Please proceed with your question. Hey guys, congratulations on a great year.

Todd Felte: I miss the very first minute of the call.

Todd Felty: Hey guys, congratulations on a great year. I'm this the very first minute of the call. Do you have any updated guidance as far as revenue and earnings go for the next fiscal year?

Naeem Ghauri: Do you have any updated guidance as far as revenue and earnings go for the next fiscal year? What we have said, thank you for your compliment. What we have said is we're saying we're looking at double digit growth in this fiscal year, and I think what we'll do is we normally give specific guidance to the ranges in the Q1, so we have better clarity. But right now, we're looking at double-digit gain in the next fiscal year. Okay, and that's with a positive earnings for share for the year.

Speaker Change: and what we have said, thank you for your compliments, appreciate it, what we have said is we are standing

Speaker Change: and the double digit growth in this fiscal year and I think what we will do is we normally give specific guidance the ranges in the Q1, so we have a better clarity but we will right now we are looking at double digit gain in the fiscal year.

Naeem Ghauri: Is there any range on that? Well, it's too soon to predict that, but look, we have done a great job in the year we've just reported. The company's been making sure that we have efficiency and more linear organization and drive growth margins, which you see, 40-10-48 percent. We like to keep that trend, not even better, so pretty confident we'll have a better year than this system here.

Speaker Change: Okay, and that's with a positive earnings per share for the year, is there any range on that?

Speaker Change: Well, it's too soon to predict that, but we have done a great job in the Javis reported to come these days.

Speaker Change: Make sure we have efficiency in more linear ordination and drive those margins you see four times per year percent. We like to keep that trend or even better. So pretty confident we'll have a better year than this is been here.

Todd Felte: Okay, that's great to hear.

Naeem Ghauri: And finally, I know you have a lot of cash deployed in many different countries. Are you using any of that cash just to invest in short-term treasuries just to get some return off of it while it's sitting around? Well, quite frankly, we have good cash in different locations. We're basically investing our technology in our people in the new markets like North America, which is really, as you can imagine, how the zillion, how big this market is. So we set up an off to the last time, we're hiring people, we're building some new verticals. So I think the cash is used to really grow the business.

Speaker Change: Okay, that's great to hear and finally I know you have a lot of cash deployed in many different countries. Are you using any of that cash just invest in short-term treasuries just to get some return off of it while it's sitting around?

Speaker Change: Well...

Speaker Change: Of course, frankly, we have good cash in different locations. We're basically investing our technology in our people and the new markets like North America, which is really, as you can imagine, how resilient, how big this market is. So we set up an alternate last time, we're hiring people, we're building new verticals. So I think the cash is used to really grow the business.

Naeem Ghauri: Right now, you know, ready to do any style start by by. We did that a couple of years ago. Right now, it's time to keep investing and make sure we have enough cash in. As you can see, the history company has not raised any money in the multiple last 12, 13 years. So we want to make sure we have strong cash. We're not dependent on outside cash, and we continue to buy cash to continue the business operation and grow the operation globally.

Speaker Change: The right now, you know, ready to do any style.

Speaker Change: and we did that couple of years ago. Right after I started to keep investing and make sure we have enough cash and as you can see the history, the company has not raised any money in the market for the last 13 years. So we want to make sure we have strong cash. We don't depend on our set cash and we continue to buy cash to continue the business operation and grow the operation globally.

Todd Felte: Okay, thanks for taking my questions, and good luck in the next fiscal year. You're welcome. Thank you.

Speaker Change: Okay, thanks for taking my questions and good luck in the next fiscal year.

Speaker Change: Yvoncom.

Operator: At this time, this concludes our question-and-answer session. If your question was not addressed during the Q&A session, please contact NetSol's Investor Relations team by emailing them at NetSol at IMF-investorrelations.com or by calling them at 949-574-3860.

Speaker Change: Thank you. At this time, this concludes our question and answer session. If your question was not addressed during the Q&A session, please contact Ned Paul's Investor Relations team by emailing them at NETSAL at iamassinvestorrelations.com

Speaker Change: or by calling them at 949-574-3860. I'd now like to turn the call over to Mr. Ghauri for any closing remarks.

Naeem Ghauri: I'd now like to turn the call over to Mr. Ghauri for any closing remarks. Thank you very much for joining us today. I want to thank our investors for continuing to support our loyal customers worldwide and our most dedicated dedicated employees in every location we have. So, we're very proud of them for their contribution and what you've done this year and the future years.

Mr. Ghauri: Thank you very much for joining us today. I want to thank our investors.

Mr. Ghauri: For continued support, our loyal customers worldwide, and our most dedicated employees in every location we have, so we very proud of them for their contribution, and what we've done this year and the future years. So, look forward to seeing you in the next short, earned scores. Thank you very much.

Naeem Ghauri: We look forward to seeing you in the next court earnings call. Thank you, and have a good day.

Operator: Thank you for joining us for NetSol's fiscal fourth quarter and year-end 2024 earnings call. You may now disconnect.

Speaker Change: Thank you for joining us for NetPall's fiscal fourth quarter and year end 2024 earnings call. You may now disconnect your lines.

Najeeb Ghauri: [inaudible] Najeeb, Najeeb,