NASDAQ : NTCL
NetClass Technology Inc — Financial statements
Technology · Software - Application · Singapore
Last price 0.5401 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 1.43M
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Financial statements
NetClass Technology Inc (NTCL) reported revenue of 12.51M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year October - September; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 12.51M | 9.81M | 10.10M | 11.09M | 9.26M | 11.56M |
| Cost of Revenue | 10.57M | 7.56M | 7.79M | 8.73M | 6.22M | 7.58M |
| Gross Profit | 1.94M | 2.24M | 2.31M | 2.36M | 3.04M | 3.98M |
| Selling, General & Admin | 10.56M | 10.25M | 1.09M | 1.41M | 2.16M | 2.36M |
| Research & Development | 1.35M | 1.68M | 2.52M | 567.81K | 828.31K | 406.75K |
| Operating Expenses | 11.90M | 11.92M | 3.60M | 1.97M | 2.99M | 2.77M |
| Operating Income | -9.97M | -9.68M | -1.29M | 386.70K | 48.37K | 1.21M |
| Interest Expense | -614.88K | -147.90K | -4.56K | -13.20K | ||
| Interest & Investment Income | 209.00 | 1.29K | ||||
| Other Non Operating Income (Expenses) | -113.53K | -10.64K | -14.79K | 37.41K | 15.78K | 34.29K |
| EBT Excluding Unusual Items | -10.69M | -9.84M | -1.30M | 419.56K | 64.15K | 1.23M |
| Asset Writedown | -1.25M | -1.25M | ||||
| Other Unusual Items | 139.72K | |||||
| Pretax Income | -11.94M | -10.95M | -1.30M | 419.56K | 64.15K | 1.23M |
| Income Tax Expense | -72.43K | -86.74K | 86.31K | 257.33K | -68.54K | 163.48K |
| Earnings From Continuing Operations | -11.87M | -10.87M | -1.39M | 162.23K | 132.69K | 1.07M |
| Minority Interest in Earnings | 41.81K | 41.81K | -88.09K | 41.00 | ||
| Net Income | -11.83M | -10.82M | -1.48M | 162.23K | 132.69K | 1.07M |
| Net Income to Common | -11.83M | -10.82M | -1.48M | 162.23K | 132.69K | 1.07M |
| Shares Outstanding (Basic) | 425.41K | 359.84K | 315.20K | 300.42K | 300.00K | 300.00K |
| Shares Outstanding (Diluted) | 425.41K | 359.84K | 315.20K | 300.42K | 300.00K | 300.00K |
| EPS (Basic) | -27.81 | -30.08 | -4.69 | 0.54 | 0.44 | 3.56 |
| EPS (Diluted) | -27.81 | -30.08 | -4.69 | 0.54 | 0.44 | 3.56 |
| Free Cash Flow | -1.23M | -5.73M | -135.66K | 391.88K | -571.45K | 742.32K |
| Free Cash Flow Per Share | -2.89 | -15.91 | -0.43 | 1.30 | -1.91 | 2.47 |
| Gross Margin | 15.48% | 22.85% | 22.92% | 21.28% | 32.85% | 34.41% |
| Operating Margin | -79.66% | -98.77% | -12.76% | 3.49% | 0.52% | 10.45% |
| Profit Margin | -94.56% | -110.40% | -14.63% | 1.46% | 1.43% | 9.23% |
| Free Cash Flow Margin | -9.84% | -58.39% | -1.34% | 3.53% | -6.17% | 6.42% |
| EBITDA | -9.33M | -9.15M | -1.28M | 482.83K | 166.93K | 1.34M |
| EBITDA Margin | -74.60% | -93.31% | -12.65% | 4.35% | 1.80% | 11.58% |
| D&A For EBITDA | 633.04K | 535.64K | 10.82K | 96.13K | 118.56K | 130.83K |
| EBIT | -9.97M | -9.68M | -1.29M | 386.70K | 48.37K | 1.21M |
| EBIT Margin | -79.66% | -98.77% | -12.76% | 3.49% | 0.52% | 10.45% |
| Effective Tax Rate | 61.33% | 13.29% | ||||
| Advertising Expenses | 796.61K | 296.92K | 513.47K | 1.20M | 1.57M |
Balance sheet
Fiscal year October - September; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 1.70M | 1.76M | 410.72K | 524.60K | 208.21K | 1.04M |
| Cash & Short-Term Investments | 1.70M | 1.76M | 410.72K | 524.60K | 208.21K | 1.04M |
| Accounts Receivable | 6.25M | 5.58M | 5.30M | 2.29M | 3.37M | 2.51M |
| Receivables | 6.25M | 5.58M | 5.30M | 2.29M | 3.37M | 2.51M |
| Inventory | 734.01K | 1.23M | 1.19M | 1.06M | 94.57K | 249.15K |
| Prepaid Expenses | 675.59K | 281.23K | 40.99K | 440.53K | 37.94K | 34.03K |
| Restricted Cash | 4.56K | 93.50K | ||||
| Other Current Assets | 138.46K | 2.00M | 222.36K | |||
| Total Current Assets | 9.36M | 8.86M | 7.09M | 6.31M | 4.02M | 3.84M |
| Property, Plant & Equipment | 1.53M | 1.71M | 52.83K | 103.23K | 145.47K | 281.16K |
| Other Intangible Assets | 1.24M | 1.11M | ||||
| Long-Term Deferred Tax Assets | 194.57K | 108.39K | 88.44K | 123.37K | 184.78K | 100.10K |
| Other Long-Term Assets | 3.51M | 2.02M | ||||
| Total Assets | 15.82M | 13.81M | 7.23M | 6.54M | 4.35M | 4.22M |
| Accounts Payable | 2.30M | 1.90M | 2.86M | 1.15M | 1.01M | 1.01M |
| Accrued Expenses | 1.57M | 641.13K | 297.36K | 236.46K | 406.46K | 103.68K |
| Short-Term Debt | 1.99M | 1.60M | 43.56K | 130.94K | ||
| Current Portion of Long-Term Debt | 98.55K | |||||
| Current Portion of Leases | 150.64K | 144.41K | 13.12K | 41.65K | ||
| Current Income Taxes Payable | 319.87K | 319.48K | 341.22K | 288.45K | 92.72K | 70.39K |
| Current Unearned Revenue | 3.72M | 1.92M | 425.12K | 184.22K | 302.43K | 413.01K |
| Other Current Liabilities | 115.82K | 325.61K | 185.39K | 180.10K | ||
| Total Current Liabilities | 10.17M | 6.85M | 4.17M | 2.08M | 1.94M | 1.69M |
| Long-Term Debt | 434.91K | 421.41K | ||||
| Long-Term Leases | 497.58K | 556.58K | 12.71K | |||
| Total Liabilities | 11.10M | 7.83M | 4.17M | 2.10M | 1.94M | 1.69M |
| Common Stock | 14.99K | 5.12K | 3.94K | 3.94K | 3.75K | 3.75K |
| Additional Paid-In Capital | 33.00M | 21.96M | 4.82M | 4.82M | 2.92M | 2.92M |
| Retained Earnings | -18.38M | -12.49M | -1.67M | -129.36K | -291.59K | -424.28K |
| Comprehensive Income & Other | -10.03M | -3.69M | -186.13K | -252.75K | -223.31K | 24.79K |
| Total Common Equity | 4.60M | 5.78M | 2.97M | 4.44M | 2.41M | 2.53M |
| Minority Interest | 119.36K | 197.17K | 91.07K | |||
| Shareholders' Equity | 4.72M | 5.98M | 3.06M | 4.44M | 2.41M | 2.53M |
| Total Liabilities & Equity | 15.82M | 13.81M | 7.23M | 6.54M | 4.35M | 4.22M |
| Total Debt | 3.08M | 2.72M | 56.69K | 54.36K | 130.94K | 98.55K |
| Net Cash (Debt) | -1.38M | -960.59K | 354.03K | 470.25K | 77.27K | 943.38K |
| Net Cash Per Share | -3.23 | -2.67 | 1.12 | 1.57 | 0.26 | 3.14 |
| Filing Date Shares Outstanding | 1.20M | 439.84K | 356.60K | 315.20K | 300.00K | |
| Total Common Shares Outstanding | 1.20M | 409.74K | 315.20K | 315.20K | 300.00K | |
| Working Capital | -810.11K | 2.00M | 2.92M | 4.23M | 2.08M | 2.15M |
| Book Value Per Share | 3.84 | 14.11 | 9.43 | 14.10 | 8.04 | |
| Tangible Book Value | 3.37M | 4.67M | 2.97M | 4.44M | 2.41M | 2.53M |
| Tangible Book Value Per Share | 2.81 | 11.40 | 9.43 | 14.10 | 8.04 | |
| Machinery | 15.70K | 87.36K | 640.94K | 616.48K | 632.40K | 698.07K |
Cash flow statement
Fiscal year October - September; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -11.83M | -10.82M | -1.48M | 162.23K | 132.69K | 1.07M |
| Depreciation & Amortization | 668.66K | 571.26K | 52.97K | 134.79K | 118.56K | 130.83K |
| Other Amortization | 326.27K | 326.27K | ||||
| Loss (Gain) From Sale of Assets | 26.48K | 26.48K | ||||
| Asset Writedown & Restructuring Costs | 1.25M | 1.25M | ||||
| Stock-Based Compensation | 5.16M | 5.16M | ||||
| Provision & Write-off of Bad Debts | 514.23K | 514.23K | 52.65K | -44.09K | 29.13K | 40.09K |
| Other Operating Activities | 5.27M | -133.74K | 128.80K | 281.08K | -102.13K | 158.48K |
| Change in Accounts Receivable | -739.54K | -739.54K | -3.03M | 1.08M | -1.21M | -714.03K |
| Change in Inventory | -234.75K | -234.75K | -60.04K | 159.46K | 466.16K | |
| Change in Accounts Payable | -930.20K | -930.20K | 1.64M | 174.80K | 107.33K | -528.42K |
| Change in Income Taxes | -19.25K | -19.25K | 45.60K | 198.04K | 31.43K | 63.72K |
| Change in Other Net Operating Assets | -680.47K | -680.47K | 2.51M | -1.60M | 165.97K | 62.43K |
| Operating Cash Flow | -1.23M | -5.72M | -135.66K | 391.88K | -571.45K | 745.80K |
| Capital Expenditures | -4.25K | -6.47K | -3.48K | |||
| Sale of Property, Plant & Equipment | 7.00 | 2.77K | ||||
| Cash Acquisitions | -170.00 | 17.33K | ||||
| Sale (Purchase) of Intangibles | -2.55M | -2.30M | 23.05K | |||
| Investing Cash Flow | -2.55M | -2.29M | 19.57K | |||
| Short-Term Debt Issued | 2.44K | 42.15K | 73.07K | 177.64K | 69.93K | |
| Long-Term Debt Issued | 2.16M | |||||
| Total Debt Issued | 1.78M | 2.16M | 42.15K | 73.07K | 177.64K | 69.93K |
| Short-Term Debt Repaid | -121.87K | -420.00 | -1.42K | -132.43K | -100.16K | |
| Long-Term Debt Repaid | -1.28M | -132.03K | ||||
| Total Debt Repaid | -1.34M | -1.40M | -420.00 | -133.45K | -132.43K | -100.16K |
| Net Debt Issued (Repaid) | 442.15K | 756.78K | 41.73K | -60.38K | 45.21K | -30.23K |
| Issuance of Common Stock | 10.35M | |||||
| Other Financing Activities | 2.72M | -1.75M | -30.86K | -92.53K | -170.79K | |
| Financing Cash Flow | 3.16M | 9.36M | 10.87K | -152.91K | -125.58K | -30.23K |
| Foreign Exchange Rate Adjustments | 10.72K | -5.80K | 15.47K | -16.07K | -43.20K | 329.00 |
| Net Cash Flow | -608.17K | 1.35M | -109.32K | 222.90K | -740.23K | 735.48K |
| Free Cash Flow | -1.23M | -5.73M | -135.66K | 391.88K | -571.45K | 742.32K |
| Free Cash Flow Margin | -9.84% | -58.39% | -1.34% | 3.53% | -6.17% | 6.42% |
| Free Cash Flow Per Share | -2.89 | -15.91 | -0.43 | 1.30 | -1.91 | 2.47 |
| Levered Free Cash Flow | 556.61K | -1.82M | 427.47K | -1.37M | -652.92K | 371.97K |
| Unlevered Free Cash Flow | 940.90K | -1.73M | 427.47K | -1.37M | -652.92K | 380.22K |
| Cash Interest Paid | 13.78K | 10.04K | 5.78K | 9.68K | 13.99K | |
| Cash Income Tax Paid | 289.00 | 578.00 | 1.62K | |||
| Change in Working Capital | -2.60M | -2.60M | 1.11M | -142.13K | -749.70K | -650.14K |
Ratios
Fiscal year October - September; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 1.06M | 29.56M | ||||
| Enterprise Value | 2.44M | 28.36M | ||||
| Last Close Price | 0.40 | 73.00 | ||||
| PS Ratio | 0.09 | 3.02 | ||||
| PB Ratio | 0.10 | 4.95 | ||||
| P/TBV Ratio | 0.32 | 6.33 | ||||
| EV/Sales Ratio | 0.19 | 2.89 | ||||
| Debt / Equity Ratio | 0.65 | 0.46 | 0.02 | 0.01 | 0.05 | 0.04 |
| Debt / EBITDA Ratio | 0.10 | 0.78 | 0.07 | |||
| Debt / FCF Ratio | 0.14 | 0.13 | ||||
| Net Debt / Equity Ratio | 0.29 | 0.16 | -0.12 | -0.11 | -0.03 | -0.37 |
| Net Debt / EBITDA Ratio | -0.15 | -0.10 | 0.28 | -0.97 | -0.46 | -0.70 |
| Net Debt / FCF Ratio | -1.12 | -0.17 | 2.61 | -1.20 | 0.14 | -1.27 |
| Asset Turnover | 0.92 | 0.93 | 1.47 | 2.04 | 2.16 | 2.84 |
| Inventory Turnover | 8.20 | 6.23 | 6.91 | 15.15 | 36.17 | 16.73 |
| Quick Ratio | 0.78 | 1.07 | 1.37 | 1.35 | 1.84 | 2.10 |
| Current Ratio | 0.92 | 1.29 | 1.70 | 3.03 | 2.07 | 2.27 |
| Return on Equity (ROE) | -205.72% | -240.38% | -37.03% | 4.73% | 5.38% | 54.66% |
| Return on Assets (ROA) | -45.71% | -57.54% | -11.70% | 4.44% | 0.70% | 18.57% |
| Return on Invested Capital (ROIC) | -163.47% | -200.76% | -38.58% | 4.74% | 2.47% | 73.76% |
| Return on Capital Employed (ROCE) | -176.30% | -139.20% | -42.10% | 8.70% | 2.00% | 47.80% |
| Earnings Yield | -6,907.35% | -36.61% | ||||
| FCF Yield | -115.68% | -19.37% | ||||
| Buyback Yield / Dilution | -30.14% | -14.16% | -4.92% | -0.14% |