Thank you. Good morning, everyone, and thank you for joining us today.

As we review the company's business highlights and financial results for the fourth quarter and full fiscal year ended 06/30/2026, we will open the call for questions. Before we begin, I would like to remind you that our remarks today will include forward looking statements within the meaning of the federal securities laws.

Including the safe harbor provisions of the Private Securities Litigation Reform Act of 2000. These statements include our fiscal 2027 guidance, reflect management's current expectations, and are subject to risks and uncertainties, and actual results may differ materially.

From those expressed or implied. We encourage you to review the cautionary statements and factors contained in Netsal's press release issued earlier today as well as our filings with the Securities and Exchange Commission, including our most recent Form 10-Ks, quarterly reports on Form 10 Q.

I would also like to note that today's discussion will include certain non GAAP financial measures. A reconciliation of these measures to their most direct comparable GAAP figure can be found in the press release issued earlier today.

A supplemental investor presentation is available through the webcast link and in the Investor Relations sections of our website at ir.netsoltech.com. And has been furnished as an exhibit to the Form 8-K we will file with our press release issued this morning.

Lastly, please remember that this call is being recorded and will be available for replay on our website at ir.netsalttech.com. And through a link included in today's press release.

Thank you, Patti. Good morning, everyone.

And thank you for joining our call today to review our results for the fourth quarter and full fiscal year ended 06/30/2026. Fiscal 26 was the strongest financial year in NetSol's history.

Total net revenues were $74.4 million, up 12.5% year-over-year basis and over our $73 million guidance non GAAP EBITDA grew almost 23% and income from operations nearly doubled. The growth reached the bottom line this year.

These results reflect a company in the middle of a deliberate transformation. From a services and licensed business and a platform business recurring subscription and support revenue now represents approximately half of our total revenue.

Later in the call, Sardar Abubakr, our CFO, will walk you through remaining performance obligations and the measures we will report each quarter so you can track the durability of this base. In June, NetSol returned to the Russell indexes.

Added to 6 benchmarks including the Russell 3 thousandE and the Russell Microcap Index. Index membership matters for a company our size.

It makes NESOL eligible for the many institutional mandates that are limited to index constituents and it puts us back in the universe universes where institutional investors screen. Let me talk about the business behind these numbers.

Fiscal 26 gave us the proof points across every part of our strategy. Earlier this month, we announced that BMO has signed a contract to upgrade from our legacy platform to Transcend Finance BMO is 1 of the largest banks in North America.

And this agreement is a clearest validation yet of our upgrade strategy. We have customers across North America, who have run our acquired legacy software for decades.

Each of them now has a modern path forward. And BMO shows what that path looks like.

A long tenured customer chosen to deepen the relationship with NetSol on our newest technology. Across the rest of the business, the platform continued to deliver In December, we signed 1 of the largest Transcend Finance contract extension in our history with a tier 1 global auto captive customer.

Transcend retail became a growth engine in the U.S., and Asad Ghauri will take you through the momentum in detail. Our Asia Pacific business continued to perform anchored by market leadership in China, and expanding alongside our customers across the region.

Fiscal 26 was also the year we built the team for the next phase. Sardar Abubakr joined us as a chief financial officer in January.

At our annual meeting in June shareholders elected a strengthened board reelecting Ian Smith the former CEO of BMW Group Financial Group for the USA and the Americas, and adding Richard Howard the former president and CEO of Daimler Truck Financial Services, for North America. And Ahmed Ibrahim the CEO of Jazz World 1 of the world's biggest digital operators, who earlier in his career held senior leadership roles at the Ford Motor Company and Jaguar Land Rover.

The people who ran our customers' businesses now help govern ours. I can think of no stronger endorsement of where the company is headed.

We are also transforming how we operate. Across Transcend Finance, We are reducing the resource intensity of our development and delivery model through AI enabled development.

Automation and structural efficiencies. I want to be clear about how we think about this.

Is not about reducing headcount, but it is own sake. It is about building a more scalable organization, 1 that is more nimble and faster to respond to changing market requirements.

where engineering and delivery capacity can grow client impact without growing cost at the same time. As part of that, we are focusing our investment on the core Transcend and the adjacencies where NetSol has a defensible customer and domain advantage.

Looking to fiscal 27, our priorities are very clear. First, scale Transcend retail across the U.S.

dealer market. Second, embed AI across our products and our operations.

Third, upgrade our legacy install base to Transcend, with BMO as the template. And fourth, grow with our customers as they expand, into new markets.

You saw that model this year when a leading Chinese leasing company went live on Transcend Finance in Indonesia. When our customers enter a new country, they take NetSol with them.

We also introducing full-year guidance our fourth quarter results Sardar Abubakr will take you through the numbers. I will close with this.

We believe the value of what we have built -- the customer base, the recurring revenue, the platform, is not yet reflected in our market valuation. And we see that as an opportunity.

Last December, we rang the bell in Times Square, New York to mark our 26th year on Nasdaq. there is no better way to honor that milestone than the strongest year in our history.

And we intend to build on it. With that, I will hand the call over to Asad Ghauri our global head of sales and group managing director of Europe to walk through the commercials and sales update.

Asad?

Thank you, Najeeb, and good morning, everyone. My focus today is on what is converting into revenue for us and the pipeline behind it.

But before I start, 1 point of context for everyone on this call is our key messaging. Our core growth engine today and going forward is Transcend Finance.

Worldwide. And Transcend Retail is our big bet in our home market in The US, and total focus is on the execution of that.

I will start with the goal lines this year. We have had multiple A leading Chinese leading company launched its Indonesian operations on grants and finance, Northridge Finance, a division of the Bank of Ireland with Live and Transcend to support its growth strategy in The UK, A tier 1 US based auto captive went live on Transcend Finance in China.

A deal valued at multiple millions. Zero late leasing Thailand upgrade to the latest wholesale finance system.

On our Transcend platforms, expanding its use of our technology. These go-lives convert into recurring subscription support revenues going forward, exactly the visibility So that will be quantifying later in the call.

We also renewed a multi million dollar contract with the tier 1 multinational bank in The United Kingdom, extending that relationship for more than a decade by another 10 years. And deepening our presence in The UK asset finance market.

Let me turn to Transcend Retail, our digital retail platform for OEMs and dealer groups. The commercial progress this year was real.

it is accelerating. Sonic Automotive, a Fortune 500 group is building a branded digital retail experience on our platform.

Our platform is rolling out across approximately 350 franchise dealerships of a premium global OEM in North America. 1 of the largest digital retail deployments in The US.

Automotive market. The US digital retail market remained large and under penetrated, and our combination of finance and leasing depth, plus fast time-to-go-live and modern customer experience is winning head to head evaluations against well funded competitors.

We are the only vendor at the table who also runs the lender side of the transaction. And that is why we will win.

We expect Transcend retail to be 1 of the most important growth stories in the company over the next several years. Alongside retail, there is a second US growth motion, upgrade.

Our legacy installed base is a defined set of accounts where we have deep-covered relationships that in some cases span decades, BMO is the template. Legacy to Transcend upgrades are now an active category in our pipeline, and each upgrade turns a maintenance relationship into a modern subscription relationship.

Word on AI. it is an area of focus for the company.

And it is increasingly central to how customers engage with us commercially. During the year, we introduced various product functionalities in the AI enabled credit decisioning areas automating valiant tasks, manual tasks, accelerating decision time, and otherwise improving underwriting accuracy.

And we deployed intelligent document processing systems with AI capability within the platform All of these have amplified the efficient efficiencies for clients, and we expect to push forward with this. Another key aspect of our AI focus is our platform has become AI native.

So while we focus on presenting products within our platforms, the enablement of our customers to be able to deploy their own AI functional pieces is as important And the architecture currently of Transcend Finance and retail supports that. And that has been real traction for us.

Finally, the pipeline remains strong, supported both by expansion within our existing customer base and by new business development. The pipeline, together with the upgrades and rollouts already signed -- BMO, the OEM retail deployment, the extensions, the expansions, the customers taking us to new market is what underpins the guidance that Sardar will walk you through.

With that, I will hand over the call to our CFO, Sardar, to review the financial results.

Thank you, Asad, and good morning, everyone. Fiscal 26 was an important year for the company.

We delivered double digit revenue growth expanded gross and operating margins, nearly doubled operating income and generated strong cash flow. Just as importantly, we are putting in place the financial discipline, operating model, and performance metrics required to make this progress durable.

My comments will cover 5 areas the rebound and fourth quarter exit rate, the quality of the full year results, the strength and use of our balance sheet, the actions underway to improve earnings conversion and simplify the organization and our guidance for fiscal 27. Before turning to the full year, I want to provide a fourth quarter perspective.

Fourth quarter revenue was $20.7 million, a record quarter for us, up 12.5% year-over-year. Subscription and support revenue grew 9% to $8.9 million while services revenue increased 21.3% to $11.7 million.

Fourth quarter gross profit increased 27.3% to $13.2 million and gross margin expanded to 63.6% from 56.2%. Operating income increased 40.2% to $4.5 million representing an operating margin of 21.6%, compared with 17.4% last year.

GAAP income net income attributable to NetSol increased 45.9% to $3.8 million or $0.32 per diluted share, compared with $0.22. The exit rate is particularly important in the context of our start to the new year.

In the first quarter, last year, revenue was $15 million Gross margin was 39.4%. And operating loss was $1.8 million.

And net loss attributable to NetSol was $2.4 million. The third quarter, however, revenue had reached a then record $19.8 million.

Gross margin was 55.6%, and operating income $3 million. In Q4, revenue reached $20.7 million gross margin was 63.6%, and operating income was $4.5 million From Q1 to Q4, revenue increased by approximately 38%, gross margin expanded by more than 2.4 thousand basis points, and the quarterly operating result improved by approximately $6.3 million.

This demonstrates a meaningful rebound in execution while recognizing the timing of agreements, implementation and development capitalization can create quarter to quarter variability. For the full year, total net revenues increased 4.5% to a record $74.4 million above our $73 million guidance.

Subscription and support revenue increased 8.7% to $35.8 million. Demonstrating continued growth in the recurring foundations of the business.

Services revenue increased 3.3% to $38.6 million as we progressed major implementations. License revenue was $5 million and included approximately $4.7 million associated with the renewal and amendment of an existing Transcend customer agreement.

We want investors to distinguish absolute recurring revenue growth from revenue mix. Subscription and support represented 48.1% of revenue compared to 49.8% last year, because license revenue increased this year.

We will increasingly supplement this disclosure with consistent measures of recurring revenue, remaining performance obligations, and implementation activity. We are also introducing a metric we call contracted revenue.

As of 06/30/2026, contracted revenue was approximately $6 million. We define this as revenue expected under existing signed agreements plus our best estimate of change requests from those same customers and same agreement.

It is not annual recurring revenue, not backlog and, of course, not a guaranteed revenue floor. We will report this each quarter on a consistent basis and our objective is to grow well above it through Transcend deployments, expansion within existing customers, selected new customers, and partnerships.

Turning to gross profit. Gross profit increased 20.2% to $39.1 million and gross margin expanded 330 basis points to 52.6%.

Operating income increased 98.4% to $6.9 million with operating margin increasing from 5.3% to 9.3%. These are the clearest indicators of improved execution.

The results benefited from revenue mix, delivery leverage, and the capitalization of qualifying software development costs. We will provide investors with clearer visibility into total product development investment so that the underlying trend remains transparent.

Non GAAP EBITDA grew 22.8% to $8 million. Consolidated adjusted EBITDA increased 68.8% to $9.15 million compared to $5.42 million.

Adjusted EBITDA attributable to NetSol increased 61%. To approximately $6.01 million compared with $3.73 million.

The prior year comparison has been recast. To exclude foreign exchange gains and losses on a consistent basis.

Reconciliations of all non GAAP measures are included in today's earnings release. Net income attributable to NetSol was $2.95 million or $0.25 per diluted share consistent with the prior year.

This should be considered in the context of 2 significant movements. First, fiscal 25 included a foreign exchange gain of $1.3 million and interest and investment income of $1.87 million.

In fiscal 26, we recorded a foreign exchange loss of $390 thousand and interest income of $1.07 million. Total other income was therefore approximately $2.27 million lower year over year.

Second, income attributable to noncontrolling interests increased by approximately $1 million to $2.65 million. Despite those headwinds below operating income level, consolidated net income increased 22.4% to $5.6 million We believe that this bridge demonstrates that the underlying operating business improved materially this year even though the improvement was not yet fully reflected in earnings attributable to NetSol shareholders.

Turning to net cash. Net cash provided by operating activities was $13.9 million compared with $400 thousand last year.

And cash increased 56.3% to $27.1 million. As we indicated in our third quarter call, the working capital timing that reduced cash at March 31 reversed in the fourth quarter.

This is a meaningful improvement in financial capacity, Contract liabilities contributed approximately $6.5 million to operating cash flow, reflecting advanced billings and customer commitments. We do not assume that this working capital benefit will repeat, of course, at the same level year over year.

During the year, we invested approximately $2 million in property and equipment $2.7 million in capitalized software development. After these investments, the business still generated approximately $9.8 million of cash.

We will remain disciplined in balancing product investment liquidity, potential strategic transactions, and shareholder value. Supporting the 4 strategic priorities Najeeb outlined our financial agenda for fiscal 27 is quite straightforward.

Grow recurring revenue and its visibility. Protect and improve margins, apply AI in practical and measurable ways, focus the portfolio on our highest return opportunities, and strengthen the conversion of consolidated profit into value for NetSol shareholders.

We will apply AI where the outcomes are measurable, faster development, and testing, less implementation effort. Better support resolution, and automated back office processes.

That is part of a broader efficiency program that will continue in fiscal 2027. As of 06/30/2026, we employed approximately 1.37 thousand people, compared with approximately 1.46 thousand a year earlier.

While revenue grew 12.5%. We are reviewing workforce structure utilization location strategy, and the skills an AI-embedded delivery model requires.

This is not a headcount reduction exercise. It is a disciplined review of how we deploy people and direct capacity towards product innovation, customer delivery, and growth.

We are also reviewing our portfolio for simplification. This includes assessing products, legal entities, and activities against strategic fit, growth potential, margin, cash requirements, and management complexity.

Capital will be directed to the core asset finance platform and close to core adjacencies. Where NetSol has a defensible customer and domain advantage.

A further strategic priority for us is evaluating minority interest in Pakistan. The Pakistan business is a major contributor to the company.

But the increasing allocation of earnings to noncontrolling interests does reduce how much of our consolidated performance reaches NetSol shareholders. As we have said before, we are actively evaluating structural options to address this.

Over time. Subject to valuation, funding, regulatory, and tax considerations, and the rights of minority shareholders.

Please note that no transaction has been approved. And we cannot guarantee that our objectives will be achieved in the near or long term, and we will communicate when a specific course of action is sufficiently developed.

Our growth strategy combines organic execution and selective strategic partnerships, JVs, or acquisitions in core and close to core adjacencies. We will apply strict criteria: product and customer fit, recurring revenue quality, margin, and cash profile, integration complexity, and a clear return above our cost of capital.

We will not pursue scale for its own sake. For fiscal 27, NetSol currently expects net revenues to grow 13% to 16% over fiscal 26.

Gross margin of approximately 50% or better, consolidated adjusted EBITDA growth of 15 to 25%, corresponding to approximately $10.5 million to $11.4 million. This guidance assumes continued subscription growth execution of contracted implementations, disciplined cost management, no material acquisitions.

While it is important to note that the timing of agreements, implementation milestones, foreign exchange, customer decisions, and advanced billings can create variability between quarters, Our focus will be on full year execution and the quality of growth. In summary, fiscal 26 demonstrated that NetSol can grow while expanding margins and generating cash.

The next phase is to make that performance more predictable, more transparent, and more valuable to NetSol shareholders. We will do that through recurring growth, disciplined execution, practical AI adoption, portfolio simplification, thoughtful structural action, and rigorous capital allocation.

With that, operator, please open the line for questions.

Good morning. Just wanted to first touch on the 2027 guidance for gross margins.

I guess that is implying down a little bit year over year. Is there going to be a shift in mix?

Or what is driving that outlook for a little bit reduction in gross margin?

Thank you for the question. Abu, you want to jump in?

Go ahead, Abu.

Yes. Yes, Patti.

So I will take this. So thank you for the question.

We are optimistic of our gross margin forecast. We believe that the guidance that we have given of 50% is a stable guidance.

It is a guidance that wherever we go into new agreements, and also review existing agreements, we do expect a more than 50% gross margin in our business. You saw in the numbers that I quoted, that we closed at a higher rate.

We expect no reasons why we would not be able to achieve growth in this. But the stable guidance that we would like to give the market today is that we will be at least 50% or better And as we progress quarter over quarter, we will continue to monitor and upgrade that guidance as needed.

Okay. Thanks for that.

And then And then with the transition from LeasePak to Transcend with BMO that you announced. When you do a transition like that, I know you mentioned you are moving from a maintenance to a subscription revenue?

But is there any, like, revenue uplift or margin benefit? What are the additional benefits to transitioning from that legacy platform to Transcend for you?

I think I will let Asad answer the question.

Thanks, Najeeb. So, I think it provides a huge uplift to our subscription revenue.

Implementation, again, is dependent on how we structure the upgrade with the client. But a definite bump-up for us overall.

Our subscription revenue as we move forward with them. Which is our primary focus.

Okay. How big is your LeasePak installed base?

Maybe from a-- sorry -- a number of customers?

Oh, sorry. Yeah, LeasePak.

So it is about 7 customers currently.

Okay. Okay.

Okay. Alright.

And then on Transcend Retail in the U.S., can you just-- Give us a little bit more color on the pipeline and opportunity? I do not know you announced 3 dealers that launched maybe earlier this quarter.

Could you just talk about pipeline and why you won there and what benefits you are bringing to the auto dealer market in The US.

So, I mean, you know, we have got the digital retail space divided into 2 areas. The 3 dealers that you referred to are part of bigger dealer groups.

So they all carry more than 15 dealerships within the group. So our primary port of call is to ensure that we get the initiation right in these 3 dealers.

And with that, it opens up the other dealerships within the group. So as I said, we have 2 focuses.

1 is tier 1 OEMs, which we are doing a rollout for, which is the 350. Could potentially turn out to be more.

So that is a space that we have great engagements in. And lastly, on the dealer group side, which is where we define dealership groups, that is where we are seeing the traction and you see those 3 dealers, you see more coming on as we move forward in the year.

With the potential of adding 35 to 20 dealers average based on that go live of that customer. Does that make sense?

Yep. Yep, that does.

So when we look across the 3 geographies that you are in, where do you expect to see the most growth? Is it in the U.S.

with the retail part of the business? Or.

So you know, for me, I think there is great momentum for us across all 3 regions right now as we have explained earlier and I presented that our core focus in The US besides Transcend Finance is retail. And we would like to execute there before moving on to other regions.

But Transcend Finance, on the other hand, is tracking really well, and you will see that in the coming weeks. With some of the announcements that we make.

Alright. Great.

Thank you.

Alright.

Congratulations on a great quarter, nice to see the growth in revenues, margins, and earnings. Wanted to touch on the cash position.

I saw it had grown to a little over $27 million. And in the past, you had talked about some M&A activity or possibly buying a full ownership of NetSol PK.

We were just wondering if you could kind of update us on that as well as if any share buybacks are going on.

I think I can add a point that, and also Abu will come in. Absolutely.

We are very pleased with our cash position, and company is very conscious of opportunities, particularly in the U.S. market, because we see a lot of opportunities, whether through M&A or just new relationship.

But I think Asad can give you some more color about exactly how else he is thinking about really using the cash.

Yeah. I think I will leave the cash part to our experts, Abubakr and Asad.

But on the M&A side, I think there is definite interest We are well positioned and we will keep the market informed as we see traction and positivity in those engagements. But they are ongoing.

Abubakr, you want to take the cash, please?

Sure. Sure.

Sure. Sure.

So thank you for the question, Todd. 2 aspects.

1 that I covered in my script: We are actively evaluating structural options when it comes to NetSol Pakistan. So that is number 1.

Number 2, as I also mentioned in my script, we are evaluating what we call core or close to core adjacencies. US is our home market.

We are committed to growing the U.S. market at a significant rate, both through our flagship Transcend Finance platform as you saw with the BMO deal, but also our big bet, which is Transcend Retail.

In addition, given we also operate in Europe and APAC, we are selectively evaluating potential close to core adjacencies through partnerships and potential future acquisitions. As those discussions develop, we will consistently and transparently update the market But rest assured, the cash position that you see will be used for growing our existing core business investing in product innovation, becoming a nimble AI organization, but also inorganic opportunities as we see best interest in NetSol.

Okay. Okay.

that is great to hear. Really appreciate the color on all that.

And then finally, just wanted to maybe get an update on relations. I know, you have been doing some conferences, Is there any plans to have analyst coverage in the near future?

I do not see any analyst reports out there as of now.

Sure. So I will take that, Najeeb.

As for-- We will be updating the market soon. We fully recognize that NetSol as a stock must have more consistent analyst coverage and not even 1.

Ideally, we have coverage by more than 1 analyst. We have now finalized discussions with a reputed research analyst firm.

And that coverage will start after this earnings call, and the process of that will complete. However, we are not stopping there.

We believe, as I said, that multiple analyst coverage is the way to go. To get our story out there I think I will leave you with 1 thing on this furthermore, Todd.

And this is towards everyone who has dialed in. I encourage everyone to compare NetSol's stock performance this year versus NASDAQ, NASDAQ Composite, the software industry, and also our peers.

And I believe, as Najeeb stated in his opening note, that this is a story that we will get out there more, and you should start to see analyst coverage in the quarters ahead.

Okay. that is very helpful.

I know when I look at the enter enterprise value of the company, I mean, you just seem so ridiculously undervalued, that I am hoping that will change in the near future. But I appreciate you taking my questions, and congratulations again to you and your team on such a good job.

Thank you. I wanna add, Todd.

I think for the audience, this company was in a different direction in a very exciting way. What we have seen in the last 2 years, and our results delivered today is it-- shows that the company sees a very big opportunity, particularly in the U.S., whether it is the retail, it is the retail or main platform.

it is a growing market for us, and we are about to grab a few new contracts, and we mentioned it. We were on a roadshow for BMO, and I think our team is very excited about getting new investors.

3, 4 of them are going to New York and cover the places to meet a lot of new potential bankers, investors. You will see increased interest because now we feel the company is at the right trajectory to really make sure that the investor who comes in, they will have a good ROI in the short to long term.

So we are really excited about it. And in the closing, I thank everyone for your questions.

We remain focused. On executing against our strategic priorities.

And building on the momentum across our business and we look forward to reporting our progress against the guidance we introduced today. Before we go, I wanna thank all of our colleagues around the world, who worked very hard to make us who we are today.

They delivered the strongest year in our history. And thank you for all of your time today.

and your continued interest. There are still some questions outstanding.

Are there any questions outstanding? Yes.

I think there is some people waiting to ask a question. Go ahead.

Take it. Sorry.

Hey. I am sorry.

I am still learning on the name. The release did not include financials.

And I do not think the 10-K has been filed. Can you just give me a handle on when the actual numbers will be available?

You must take the question today. Sure.

So the press release should be available and the 10-K should be available later today.

Okay. Great.

Thank you very much.

Thank you.

Yes. So I think before we go, I wanna thank our colleagues around the world who delivered these very strong numbers, the strongest in our history.

And I thank all our shareholders who are committed long-term, and they look at this company with a possibility for us to really create not just for the ROI, but also excitement in the company because we are very excited for our future, and we believe that we will really turn the corner. We already have turned the corner this year.

Thank you all for your time today and your continued interest in us. We appreciate you being part of this journey with us.

Thank you, and have a good day. Thank you.

Thank you.

Thank you for your help, operator.