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NTCL on Nasdaq

NetClass Technology Inc

NetClass Technology Inc is a Cayman Islands exempted company incorporated on January 4.1 Its shares trade on Nasdaq under the symbol NTCL.1

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Last updated Oct 21, 2026.

Overview

$9.8MRevenue, fiscal 20252
-$10.8MNet income, fiscal 20252

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  • TickerNTCL on Nasdaq1
  • IndustryServices-Prepackaged Software1
  • HeadquartersE91
  • Incorporated inCayman Islands3
  • Business addressUnit 11-03, Abi Plaza, 11 Keppel Road, Singapore, 0890573
  • Filer categoryNon-accelerated filer, Emerging growth company3
  • Legal formCorporation

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NetClass is a Cayman Islands exempted company incorporated on January 4, 2022. We conduct our business in the PRC, Hong Kong, Singapore and Japan through our subsidiaries. The consolidation of our Company and our subsidiaries has been accounted for at historical cost and prepared on the basis as if the aforementioned transactions had become effective as of the beginning of the first period presented in the accompanying consolidated financial statements.4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

22.8%Gross margin2
-111.5%Operating margin2
-110.4%Net margin2
-2.9%Revenue growth, 20252
-187.2%Return on equity2
-$5.7MFree cash flow2

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Application Development Services brought in 80% of the revenue NetClass Technology Inc broke down this way in fiscal 2025.

  1. Application Development Services$7.9M280%up 1% from 2024
  2. Subscription Service$1.8M218%down 23% from 2024
  3. Artificial Intelligence Power Support Services$147.7K22%
Products and services by year
Products and services202320242025
Application Development Services$8.3M$7.8M$7.9M
Subscription Service$2.8M$2.3M$1.8M
Artificial Intelligence Power Support Services$147.7K

Regions

China brought in 49% of the revenue NetClass Technology Inc broke down this way in fiscal 2025.

  1. China$4.8M249%up 14% from 2024
  2. Hong Kong$3.3M234%down 28% from 2024
  3. KY$697.7K27%up 7% from 2024
  4. Japan$519.3K25%
  5. Singapore$415.6K24%down 31% from 2024
Regions by year
Regions202320242025
China$5.5M$4.3M$4.8M
Hong Kong$5.6M$4.6M$3.3M
KY$650.0K$697.7K
Japan$519.3K
Singapore$598.1K$415.6K

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue77¢$7.6M
  • Research and development17¢$1.7M
  • Other costs5¢$475.6K
  • Income tax1¢$86.7K

Out of $9.8M in revenue.2 The company lost money this year.

Financial statements

Revenue52$9.8M in 2025+6% since 2022
0$5.0M$10.0M$15.0M2022: $9.3M$9.3M20222023: $11.1M$11.1M2023+20%2024: $10.1M$10.1M2024−9%2025: $9.8M$9.8M2025−3%
Gross profit52$2.2M in 2025−26% since 2022
0$1.0M$2.0M$3.0M$4.0M2022: $3.0M$3.0M20222023: $2.4M$2.4M2023−22%2024: $2.3M$2.3M2024−2%2025: $2.2M$2.2M2025−3%
Operating income52-$10.9M in 2025
-$15.0M-$10.0M-$5.0M0$5.0M2022: $48.4K$48.4K20222023: $386.7K$386.7K2023+699%2024: -$1.3M-$1.3M20242025: -$10.9M-$10.9M2025+748%
Net income52-$10.8M in 2025
-$15.0M-$10.0M-$5.0M0$5.0M2022: $132.7K$132.7K20222023: $162.2K$162.2K2023+22%2024: -$1.5M-$1.5M20242025: -$10.8M-$10.8M2025+632%

Every line of the income statement as filed: the last 3 fiscal years, latest first.2

Period ending2025-09-302024-09-302023-09-30
Revenues$9.8M$10.1M$11.1M
Cost of revenues-$7.6M-$7.8M-$8.7M
Gross profit$2.2M$2.3M$2.4M
Selling and marketing-$1.0M-$385.5K-$606.9K
General and administrative-$9.2M-$703.2K-$798.2K
Impairment of intangible asset-$1.2M$0$0
Research and development-$1.7M-$2.5M-$567.8K
Total operating expenses-$13.2M-$3.6M-$2.0M
(Loss) income from operations-$10.9M-$1.3M$386.7K
Financial (expense) income, net-$147.9K$209-$4.6K
Gain on acquisition of a subsidiary$139.7K
Gain on fair value change of derivative liability$33.3K
Other (expense) income, net-$44.0K-$14.8K$37.4K
Total other (expenses) income, net-$18.8K-$14.6K$32.9K
(Loss) income before income taxes-$11.0M-$1.3M$419.6K
Income tax benefit (expense)$86.7K-$86.3K-$257.3K
Net (loss) income-$10.9M-$1.4M$162.2K
Less: net loss (income) attributable to non-controlling interests$41.8K-$88.1K
Net Income (Loss)-$10.8M-$1.5M$162.2K
Foreign currency translation adjustments-$18.5K$66.6K-$29.4K
Comprehensive (loss) income-$10.9M-$1.3M$132.8K
Less: Comprehensive loss (income) attributable to non-controlling interests$41.8K-$88.1K
Comprehensive (loss) income attributable to shareholders-$10.8M-$1.4M$132.8K
Basic (in dollars per share)-$0.60-$0.09$0.01
Diluted (in dollars per share)-$0.60-$0.09$0.01
Basic (in shares)18.0M shares15.8M shares15.0M shares
Diluted (in shares)18.0M shares15.8M shares15.0M shares

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Corporate structure

NetClass Technology Inc sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of NetClass Technology Inc

  • Sze Kok Filed SCHEDULE 13G/A on NetClass Technology Inc, latest Mar 9, 2026 (3 filings since Feb 14, 2025)
  • Streeterville Capital LLC Filed SCHEDULE 13G on NetClass Technology Inc, latest Feb 24, 2026
  • Jianbiao Dai Filed SCHEDULE 13D/A on NetClass Technology Inc, latest Sep 4, 2025 (4 filings since Feb 14, 2025)
  • NetClass Technology Inc E9

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What NetClass Technology Inc reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$87.4K2 Sep 30, 2025$640.9K2 Sep 30, 2024−86.4%
Accumulated depreciation$76.5K2 Sep 30, 2025$601.2K2 Sep 30, 2024−87.3%
Property and equipment, net$10.9K2 Sep 30, 2025$39.7K2 Sep 30, 2024−72.6%
Finance-lease assets$1.0M2 Sep 30, 2025
Operating-lease assets (leased space)$674.9K2 Sep 30, 2025$13.1K2 Sep 30, 2024+5043.2%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$1.8M2 Sep 30, 2025$410.7K2 Sep 30, 2024+329.5%

Intangibles and goodwill

ItemLatestA year beforeChange
Intangible assets, net (excluding goodwill)$1.1M2 Sep 30, 2025
Finite-lived intangibles, gross$2.6M2 Sep 30, 2025
Accumulated amortization$274.4K2 Sep 30, 2025
Finite-lived intangibles, net$1.1M2 Sep 30, 2025

Inventory

ItemLatestA year beforeChange
Inventory, total$305.7K2 Sep 30, 2025$70.7K2 Sep 30, 2024+332.6%

Leadership

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • Executive Officer, DirectorJianbiao Dai named Aug 15, 20256
  • Executive Officer, DirectorLina Chen named Aug 15, 20256
  • Executive OfficerYuxin Chen named Aug 15, 20256
  • DirectorAngel Colon named Aug 15, 20256
  • DirectorXianghong Zhou named Aug 15, 20256
  • DirectorXiao Fu named Aug 15, 20256

Filings

92 filings to the SEC since October 2021: 2 annual reports, 8 large holders, 1 private raises, 81 other. The latest 20:

  1. Oct 9, 20266-K EDGAR
  2. Sep 4, 20266-K EDGAR
  3. Aug 14, 20266-K EDGAR
  4. Aug 5, 20266-K EDGAR
  5. Jul 30, 20266-K EDGAR
  6. Jul 22, 20266-K EDGAR
  7. Jul 22, 20266-K EDGAR
  8. Jul 7, 20266-K EDGAR
  9. Jun 18, 20266-K EDGAR
  10. Jun 11, 20266-K EDGAR
  11. May 13, 2026144 EDGAR
  12. Apr 30, 2026EFFECT EDGAR
  13. Apr 30, 2026424B3 EDGAR
  14. Apr 28, 2026CORRESP EDGAR
  15. Apr 28, 2026UPLOAD EDGAR
  16. Apr 20, 2026F-1 EDGAR
  17. Apr 3, 20266-K EDGAR
  18. Mar 9, 2026SCHEDULE 13G/A EDGAR
  19. Mar 2, 20266-K EDGAR
  20. Feb 24, 2026SCHEDULE 13G EDGAR

The 92 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

  • Sze KokSCHEDULE 13G/A, 3 filings Feb 14, 2025 to Mar 9, 20267
  • Streeterville Capital LLCSCHEDULE 13G, 1 filing Feb 24, 20268
  • Jianbiao DaiSCHEDULE 13D/A, 4 filings Feb 14, 2025 to Sep 4, 20259

Money raised

Private offerings the company reported to the SEC on Form D.

  1. Aug 4, 2025Raised $2.2 million in a private offering of debt Form D: 1 investor so far Form D

SEC filer profile

How NetClass Technology Inc is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARNetClass Technology Inc1
  • CIK0001927578
  • Filer statusNon-accelerated filer an emerging growth company; not a shell company4
  • Incorporated inCayman Islands4
  • Industry code (SIC)7372 Services-Prepackaged Software1
  • SEC reviewing officeOffice of Technology, Division of Corporation Finance1
  • Business addressUnit 11-03, Abi Plaza, 11 Keppel Road, Singapore, 089057, Singapore1
  • Phone65 918218231
  • Shares outstanding18,487,030 Common Class A shares; 2,000,000 Common Class B shares as of Sep 30, 20254
  • AuditorWei, Wei & Co., LLP, Flushing, New York PCAOB ID 2388; no auditor attestation of internal control over financial reporting4
  • On EDGAR sinceJun 22, 20221
  • Filings92 in all: 6-K (37), CORRESP (11), F-1/A (5), F-1 (4), UPLOAD (4), EFFECT (3), SCHEDULE 13D/A (3), 20-F (2)1
    All 27 form types

    424B4 (2), DRS/A (2), SCHEDULE 13G (2), SCHEDULE 13G/A (2), 144 (1), 15-15D (1), 424B3 (1), 8-A12B (1), CERT (1), D (1), DRS (1), F-3 (1), F-3/A (1), FWP (1), NT 20-F (1), POS AM (1), RW (1), S-8 (1), SCHEDULE 13D (1)

  • Latest filingsAnnual report (20-F) Feb 2, 2026

Securities registered for trading

ClassSymbolExchange
Class A Ordinary Shares, par value $0.00025 per shareNTCLNasdaq

From the cover page of the 20-F filed Feb 2, 2026 (Section 12(b) of the Exchange Act).4

Sources

The numbers on this page point here. Each one links to the record it came from.

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