NTWK - NetSol Technologies stock falls over 6% on weak earnings

• NetSol Technologies ( NASDAQ: NTWK ) stock fell as much as 6.6% to a two-month low on Tuesday after the asset finance software provider reported Q4 results .
• Q4 GAAP net loss per share was $0.19 vs. GAAP EPS of $0.17 in Q4 2021. Adj. EBITDA per share was $0.12 vs. $0.26 in Q4 2021.
• The decrease was a result of lower revenue and higher cost of sales, driven by increases in salaries and consulting costs.
• Q4 total net revenue fell 12.3% Y/Y to $13.5M, driven by lower license and services revenues.
• Services revenue decreased 20.7% to $6.5M, while license fees were $0.95M, down 36.7%. Meanwhile, subscription and support revenue grew 8.9% to $6.1M.
• As of Jun. 30, NTWK's cash and cash equivalents were $24M vs. $33.7M at Jun. 30, 2021.
• "As our workforce continues to return to the office, we expect growth will accelerate in the quarters ahead, which will require a related increase in expenses to support increased business activity," said NTWK CFO Roger Almond.
• Shares of NTWK declined 27.4% YTD.

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