v3.26.3
PROPERTY AND EQUIPMENT
 12 Months Ended
Jun. 30, 2026
Property, Plant, and Equipment [Abstract]  
PROPERTY AND EQUIPMENT

NOTE 8 - PROPERTY AND EQUIPMENT

 

Property and equipment consisted of the following:

 

   As of   As of 
   June 30, 2026   June 30, 2025 
         
Office Furniture and Equipment  $2,864,962   $2,437,002 
Computer Equipment   9,780,261    9,513,181 
Assets Under Capital Leases   140,273    145,197 
Building   3,606,143    3,532,475 
Land   914,360    894,698 
Autos   2,349,412    1,603,271 
Improvements   267,292    217,230 
Subtotal   19,922,703    18,343,054 
Accumulated Depreciation   (14,239,201)   (13,269,682)
Property and Equipment, Net  $5,683,502   $5,073,372 

 

For the years ended June 30, 2026 and 2025, depreciation expense totaled $1,238,421 and $1,463,783, respectively. Of these amounts, $783,692 and $952,331, respectively, are reflected in cost of revenues.

 

Following is a summary of fixed assets held under capital leases as of June 30, 2026 and 2025:

 

   As of   As of 
   June 30, 2026   June 30, 2025 
Vehicles  $140,273   $145,197 
Total   140,273    145,197 
Less: Accumulated Depreciation - Net   (79,973)   (47,807)
Fixed assets held under finance leases, Total   $60,300   $97,390 

 

 

NETSOL TECHNOLOGIES, INC.

Notes to Consolidated Financial Statements

June 30, 2026 and 2025

 

Finance lease term and discount rate were as follows:

 

   As of   As of 
   June 30, 2026   June 30, 2025 
         
Weighted average remaining lease term - Finance leases   0.75 Years    1.75 Years 
           
Weighted average discount rate - Finance leases   11.3%   11.3%