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ENCINO, Calif. - NETSOL Technologies, Inc. (NASDAQ:NTWK) announced new deployments of its Transcend Retail platform at Porsche North Houston and Jim Shorkey Nissan, according to a company press release issued Friday. The tech firm, currently trading at $2.98 with a market cap of $35.15 million, appears slightly undervalued according to InvestingPro analysis.
Porsche North Houston, part of Indigo Auto Group and recognized as a top-performing Porsche dealer for 13 consecutive years, implemented the digital retail platform in under five weeks. Following this deployment, NETSOL and Indigo Auto Group plan to enable five additional Porsche dealerships by December 1, 2025.
Jim Shorkey Nissan, part of Jim Shorkey Auto Group, also adopted the platform, which is designed to modernize the automotive sales process and reduce friction in the customer journey.
Transcend Retail is described as an omnichannel digital retail platform that aims to transform how OEMs and dealer groups sell vehicles by providing a connected retail journey across their networks.
Josh Smylie, Digital Marketing Manager at Indigo Auto Group, noted an increase in lead generation compared to their previous digital retailing tool, while Michael Gaitor, General Manager at Jim Shorkey Auto Group, highlighted the platform’s user-friendly interface.
"This is a landmark moment for NETSOL," said Najeeb Ghauri, Founder and CEO of NETSOL Technologies, Inc., in the statement.
NETSOL Technologies provides asset finance and leasing solutions for automotive and equipment OEMs, auto captives, and financial institutions across more than 30 countries.
In other recent news, NetSol Technologies Inc. announced its Q1 2025 earnings, which presented a mixed financial performance. The company reported a 2.8% increase in total net revenues, amounting to $15 million, primarily fueled by a 9.4% rise in subscription and support revenues. Despite this revenue growth, NetSol recorded a GAAP net loss of $2.4 million, equating to a loss of $0.20 per diluted share. These financial results have raised concerns among investors regarding the company’s financial health and future outlook. The mixed earnings report has drawn attention from various analyst firms, although no specific upgrades or downgrades were noted in the recent developments. Investors are closely monitoring these metrics as they assess the company’s performance and strategic direction.
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