CORRECTED-NETSOL Technologies Q2 sales rise on services revenue growth
Overview
AI solutions provider's fiscal Q2 revenue up 21.1% yr/yr
Company's gross margin expanded to 48% from 44.5%
Operating income improved to $1.3 mln from a loss of $0.5 mln
Outlook
NETSOL sees potential for recurring revenue growth as customer deployments complete
Company investing in AI to enhance product roadmap and extend capabilities
NETSOL prioritizes cost discipline while investing in strategic services
Result Drivers
SERVICES REVENUE GROWTH - Co attributed 40.9% increase in services revenues to active implementations of Transcend Finance and Transcend Retail
SAAS REVENUE MODERATION - SaaS revenue growth moderated by timing of customer go-lives, with potential for acceleration as deployments complete
AI INVESTMENTS - Co investing in AI, including Check, an AI-enabled credit decisioning capability, to enhance product offerings
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue |
| $18.80 mln |
|
Q2 EPS |
| $0.02 |
|
Q2 Net Income |
| $246,757 |
|
Q2 Adjusted EBITDA |
| $1.70 mln |
|
Q2 Gross Profit |
| $9 mln |
|
Press Release: ID:nGNXbTXcRp
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