NETSOL appoints ex-Daimler exec to advisory board

ENCINO, Calif. - NETSOL Technologies, Inc. (NASDAQ: NTWK), a global provider of business services and enterprise application solutions with a market capitalization of $33.4 million and a robust gross profit margin of 48%, has announced the addition of Richard Howard to its Advisory Board, effective June 1, 2025. According to InvestingPro data, the company has demonstrated strong momentum with a 14.4% return over the past week. Howard, a seasoned executive recognized for his leadership at Daimler Financial Services, is set to play a pivotal role in guiding NETSOL’s growth, particularly in the North American market.

Howard’s appointment is a strategic move aimed at enhancing NETSOL’s corporate strategy and market presence in North America. His expertise is expected to assist the company in establishing stronger partnerships and expanding its market share, especially for its Transcend Finance and Retail platforms. The company’s current financial position shows promise, with InvestingPro analysis indicating it holds more cash than debt on its balance sheet and maintains a healthy current ratio of 2.26. For deeper insights into NETSOL’s valuation and growth potential, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro. NETSOL anticipates that Howard’s guidance will be instrumental in leading the digital transformation of automotive finance and leasing, as well as digital auto retail on a global scale.

During his tenure at Daimler Financial Services, Howard held various executive roles, including President and CEO of Daimler Truck Financial Services USA, where he contributed significantly to the company’s strategic growth and operational excellence. He also served as Senior Vice President of Sales, Product Strategy, and Marketing at Daimler Truck North America, overseeing the Freightliner Truck brand and managing a team responsible for revenues exceeding $20 billion.

Najeeb Ghauri, Founder and CEO of NETSOL Technologies, expressed confidence in Howard’s ability to contribute to the company’s next growth phase, citing his leadership experience and strategic mindset as key assets. Naeem Ghauri, Co-Founder and President of NETSOL, also highlighted the long-standing working relationship with Howard and the potential for future successes.

Richard Howard shared his admiration for NETSOL’s industry expertise and commitment to delivering top-tier technology solutions. He expressed eagerness to support NETSOL’s success as it continues to provide advanced technology to leading auto captives and financial institutions.

NETSOL Technologies has been a pioneer in the asset finance and leasing industry since 1996, offering innovative solutions across more than 30 countries. The company is known for its deep industry expertise, customer-centric approach, and commitment to excellence. With revenue of $64.1 million in the last twelve months and an impressive revenue growth of 9.2%, NETSOL maintains strong financial health, earning a "GOOD" rating from InvestingPro’s comprehensive analysis system. This appointment is part of NETSOL’s ongoing efforts to expand its global footprint and drive innovation in its platform offerings, based on a press release statement.

In other recent news, NetSol Technologies Inc. reported a strong financial performance for the third quarter of fiscal year 2025, with total net revenues increasing by 13% to $17.5 million. This growth was driven by a 24% rise in services revenue and a 10% increase in subscription revenues. NetSol’s gross profit stood at $8.7 million, accounting for 50% of total revenues, while GAAP net income reached $1.4 million. The company also highlighted successful strategic initiatives, including the deployment of its Transcend Finance platform for a financial institution in Australia and signing multimillion-dollar contracts in Oman and Indonesia. NetSol’s focus on AI innovation is underscored by the launch of Transcend AI Labs and the appointment of Dario Marelli as Vice President of Artificial Intelligence. Looking ahead, the company is optimistic about maintaining its growth trajectory and is considering providing revenue and earnings guidance for the next fiscal year. Analyst feedback from firms like Stonix Wealth Management indicates positive sentiment towards NetSol’s financial results and strategic direction.

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