NTCL

MKT CAP:$7M

NetClass Technology Inc

Market Cap

$7M

Technology·Software - Application·🇨🇳 China·NASDAQ

Technology·Software App·🇨🇳·NASDAQ

Stock Price

$0.35-$0.18 (-34.34%)

Apr 24, 2026

Company Details

NetClass Technology Inc, through its subsidiaries, provides online professional education platform and related courseware in the People's Republic of China, Hong Kong, Singapore, and the Cayman Islands. Its solutions modules include teachin...

CEO

Jianbiao Dai

IPO Date

Dec 13, 2024

Website

www.netclass.cn

Key Metrics TTM

Revenue

$22M

— YoY

Net Income

-$5M

EPS (Diluted)

-$0.32

Free Cash Flow

$97.7K

Revenue / Share

$1.28

Gross Margin

21.1%

Operating Margin

-24.7%

Net Margin

-25.0%

FCF Margin

0.5%

P/S

0.3x

P/E

—

Earnings Reports

FY 2025

Jan 30, 2026

$10M-2.9%EPS -$0.64

Q2 2025

Dec 22, 2025

$4M-3.0%EPS -$0.29

FY 2024

Feb 18, 2025

$10M-8.9%EPS -$0.09

Q4 2024

Sep 30, 2024

$6M-19.1%EPS $0.04

Q2 2024

Mar 30, 2024

$4M+15.6%EPS -$0.13

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 23	$3M	$423.2K	-$749.6K
Q4 23	$8M	$2M	$1M
Q2 24	$4M	$583.4K	-$2M
Q4 24	$6M	$2M	$946.1K
Q2 25	$4M	$305.4K	-$5M

Valuation

Quarter	P/S	P/E
Q2 23	—	—
Q4 23	—	—
Q2 24	—	—
Q4 24	0.3x	—
Q2 25	0.3x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q2 23	$158.5K	$158.5K
Q4 23	$233.4K	$233.4K
Q2 24	-$211.8K	-$211.8K
Q4 24	$76.2K	$76.2K
Q2 25	$0	$0

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 25	+12.1%	+120.5%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q2 23	$0	0.0%
Q4 23	$0	0.0%
Q2 24	$0	0.0%
Q4 24	$0	0.0%
Q2 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q2 23	$310.7K	$621.7K	$240.4K
Q4 23	$257.1K	$176.6K	$366.5K
Q2 24	$2M	$375.6K	$207.2K
Q4 24	$301.6K	$283.9K	$178.4K
Q2 25	$1M	$4M	$468.9K

Rule of 40

Quarter	Rev Growth %	EBITDA Margin %	Rule of 40
Q2 23	—	-21.4%	—
Q4 23	—	15.1%	—
Q2 24	—	-59.2%	—
Q4 24	—	15.0%	—
Q2 25	12.1%	-141.7%	-129.5

Rule of 40

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 23	$524.6K	$0	$524.6K
Q2 24	$316.1K	$0	$316.1K
Q4 24	$410.7K	$0	$410.7K
Q2 25	$2M	$0	$2M
Q4 25	$2M	$0	$2M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 23	15M	—	—
Q4 23	15M	+0.1%	—
Q2 24	16M	+4.8%	—
Q4 24	16M	0.0%	—
Q2 25	17M	+7.4%	+12.7%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 23	—	—
Q4 23	—	—
Q2 24	—	—
Q4 24	$171.2K	37
Q2 25	$98.8K	37

Revenue / Employee