NETSOL Technologies Inc.

Good morning, and welcome to the Netsol Technologies third quarter and nine months ended March 31st, 2026 earnings conference call. On the call today, our founder and chief executive officer of Netsol Technologies, Najeeb Ghori, chief financial officer, Siddharth Abubakar, and senior vice president, legal and corporate affairs, general counsel, and corporate secretary, Patty McGlasson. Also available for the Q&A portion are Chief Accounting Officer Roger Allman and Chief Marketing Officer Eric Wagner. I will now hand the call over to Patty, who will provide the necessary disclaimers regarding the forward-looking statements made during today's call. Patty, please go ahead.

Thank you. Good morning, everyone, and thank you for joining us today. After we review the company's business highlights and financial results, for the third quarter and nine months ended March 31, 2026, we will open the call for questions. Before we begin, I'd like to remind you that our remarks today may 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 1995. These statements reflect management's current expectations to risks and uncertainties, and actual results may differ materially from those expressed or implied. We encourage you to review the cautionary statements and risk factors contained in NEDSOL's press release issued earlier today, as well as in our filings with the Securities and Exchange Commission, including our most recent Form 10-K and quarterly reports on Form 10-Q. I'd also like to note that today's discussion will include certain non-GAAP financial measures. A reconciliation of these measures to their most directly comparable GAAP figures can be found in the press release issued earlier today. Lastly, please remember that this call is being recorded and will be available for replay on our website at netsaltech.com and through a link included in today's press release. At this time, all participants are in listen-only mode. Following the prepared remarks, we will open the call for the Q&A session. I will now hand the call over to our founder and CEO, Najeeb Ghori. Najeeb?

Thank you, Patty. Good morning, everyone, and thank you for joining NetSol's Technologies Call to Review. Our results for the third quarter in nine months ended March 31, 2026. The third quarter was a record quarter for NetSol. Total net revenues were $19.8 million, the highest quarterly revenue in the history of the company. Recurring subscription and support revenue grew approximately 11.7% year-over-year. Income from operation was $3 million. up from $1.6 million in the prior year period. And non-GAAP adjusted EBITDA was $3.4 million compared with $2.3 million in the prior year period. For the nine months ended March 31, 2026, total net revenues were $53.7 million, an increase of approximately 12.5% over the period prior year period. This is Further evidence that the strategy we have been executing, unifying our products under the Transcend platform, deepening our customer relationships and embedding AI throughout our origination workflows is delivering. I would like to walk through three areas that define the quarter. First, I'd like to talk about customer momentum, followed by the continued ramp of Transcend Retail, and then I'll discuss our progress on artificial intelligence. First, on customer momentum, as we discussed on our last quarter's call, in December we executed a $50 million four-year contract extension with one of the longest-tenured Mercedes-Benz, a Tier 1 global auto captive customer, a relationship that we cherished since 1997. During the third quarter, we recognized the one-time license investment associated with that renewal, which contributed approximately $4.7 million in license revenue. This extension reinforces the recurring nature of our most important customer relationships and provides multi-year revenue visibility into our subscription, support, and services pipeline. The renewal also brought a significant annual maintenance billing event in January, which our CFO, Abu Bakr, will discuss in more detail in the financial review, as it is the principal driver of the working capital movement's You will notice in the balance sheet this quarter. We also achieved meaningful customer milestones across our Transcend Finance footprint during the quarter. In late January, we went live with Northridge Finance, a division of Bank of Ireland UK on Transcend Finance in March, a tier one global auto captive that is Ford China. went live on Transcend Finance in China. Both go-lives reflect Transcend's finance ability to scale across geographies and product lines and both convert into recurring subscription, support, and services revenue going forward. Additionally, we renewed a multi-million dollar agreement with a long-standing partner, Investec Bank, for the continued use of our finance and leasing platform. They are a premium Tier 1 multinational bank in the United Kingdom with whom we have had a relationship for over 15 years. Second, on Transcend Retail. In the U.S., we have continued to see strong demand for our digital retail solution for BMW dealerships and OEMs, and it is becoming a meaningful contributor to our recurring revenue. We have opportunity to go live in all U.S.-based BMW dealerships or almost 350 locations in two year timeframe. Pipeline activity is robust and we continue to close new dealerships across, group across customers in the US. We have continued to expand the presence in the US dealer market through the third quarter. The combination of fast time to go live modern user experience and integration into the broader transit platform is resonating with the dealer groups and we believe this is a market segment with substantial runway over the next several years. In USA, subscription and support continue to perform well with double-digit recurring revenue growth supported by goal eyes and contract expansion across our customer base. Services revenue moderated this quarter compared with the prior year period which had benefited from a one-time pickup associated with a customer contract amendment and from elevated implementation activity that has since transitioned into recurring revenue. Underlying services and products demand remains healthy across the globe and our pipeline of implementation Work supports continued progress through the remainder of fiscal 2026 and into fiscal 2027. I'd like to now discuss the progress in artificial intelligence or AI that continues to be essential to how we differentiate. Our approach is to generally embed AI directly into the workflows our customers run into the Transcend platform rather than build standalone AI features. The clearest example of this is our AI-enabled credit decisioning engine within Transcend Finance, which we introduced earlier this fiscal year. It operates as an architectural layer that sits inside our lease and loan origination solution and uses deep reasoning and agentic workflows to accelerate the pace of credit decisions with consistency and human oversight built in. Customers running originations on Transcend Finance can activate a credit decisioning engine to compress decision turnaround time and improve underwriting throughput. This is the model we will generally continue to follow as we extend AI across the platform, deeper integration into existing customer workflows tied to measurable outcomes. We also introduced our AI native intelligent document processing solution for asset and commercial finance. It combines optical character recognition for short OCR with large language model capabilities to extract and structure information from financial documents, enabling faster credit and compliance workflows while reducing manual effort and improving operational efficiency. Looking ahead, we are partnering with our clients on the next wave of AI initiatives, embedding intelligence deeper into the decisions and interactions that drive long-term value for our customers and their consumers. I now like to turn the call over to our very dynamic new CFO, Sardar Abu Bakr, to review the financial results in detail.