Top Page
NetClass Technology Inc Class A
(NASDAQ:NTCL)
NetClass Technology Inc Class A (NTCL) vs. SPDR S&P 500 ETF (SPY)
NetClass Technology Inc Class A Business Overview & Revenue Model
NetClass Technology Inc Class A Financial Statement Overview
| Breakdown | Sep 2025 | Sep 2024 | Sep 2023 | Sep 2022 | Sep 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 9.81M | 10.10M | 11.09M | 9.26M | 11.56M |
| Gross Profit | 2.24M | 2.31M | 2.36M | 3.04M | 3.98M |
| EBITDA | -9.11M | -1.28M | 482.83K | 166.93K | 1.34M |
| Net Income | -10.82M | -1.48M | 162.23K | 132.69K | 1.07M |
Balance Sheet | |||||
| Total Assets | 13.81M | 7.23M | 6.54M | 4.35M | 4.22M |
| Cash, Cash Equivalents and Short-Term Investments | 1.76M | 410.72K | 524.60K | 208.21K | 1.04M |
| Total Debt | 2.71M | 13.12K | 54.36K | 130.94K | 98.55K |
| Total Liabilities | 7.83M | 4.17M | 2.10M | 1.94M | 1.69M |
| Stockholders Equity | 5.78M | 2.97M | 4.44M | 2.41M | 2.53M |
Cash Flow | |||||
| Free Cash Flow | -8.03M | -135.66K | 391.88K | -571.45K | 742.32K |
| Operating Cash Flow | -5.72M | -135.66K | 391.88K | -571.45K | 745.80K |
| Investing Cash Flow | -2.29M | 0.00 | 0.00 | 0.00 | 19.57K |
| Financing Cash Flow | 9.36M | 10.87K | -152.91K | -125.58K | -30.23K |
NetClass Technology Inc Class A Risk Analysis
NetClass Technology Inc Class A Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
43 Neutral | $16.15M | -1.46 | -216.29% | ― | ― | ― | |
41 Neutral | $5.34M | -0.43 | -98.29% | ― | ― | ― | |
41 Neutral | $13.53M | -0.06 | -205.65% | ― | 72.57% | -261.66% | |
38 Underperform | $26.99M | -0.82 | -354.82% | ― | 34.50% | 70.55% |
NetClass Technology Inc Class A Corporate Events
On February 13, 2026, NetClass Technology Inc. held an extraordinary general meeting in Singapore for holders of its Class A and Class B ordinary shares, with attendees representing about 91.1% of total voting power, thereby satisfying quorum requirements. All six proposals on the agenda were approved, reflecting strong support from shareholders, particularly Class B holders who control 50 votes per share.
Shareholders approved a substantial increase in authorized share capital from US$50,000 to US$10,000,000, raising the limit to 40 billion ordinary shares split between 38 billion Class A and 2 billion Class B shares, and simultaneously adopted a third amended and restated memorandum and articles of association to reflect this change. They also authorized the board to carry out one or more share consolidations at ratios up to an aggregate 2,000‑for‑1 over the next two years, adopt new governing documents to implement any such consolidations, and granted broad administrative authority to directors and service providers to execute filings and share register updates, giving the company significant flexibility to manage its capital structure and respond to listing or market requirements.
These resolutions, effective upon shareholder approval, mark a major expansion of NetClass Technology’s capacity to issue equity and reorganize its share base, which could facilitate future financings, corporate actions, or compliance with stock‑exchange rules. For investors, the moves mean potential future dilution through new share issuance but also provide tools for the company to pursue strategic capital market transactions and adjust its share price and structure as needed.
The most recent analyst rating on (NTCL) stock is a Hold with a $0.35 price target. To see the full list of analyst forecasts on NetClass Technology Inc Class A stock, see the NTCL Stock Forecast page.
NetClass Technology Inc., a Cayman Islands-registered company with principal executive offices in Singapore, has updated the compensation arrangements for one of its independent directors as part of its ongoing post-IPO governance and board-remuneration framework. While the filing does not detail the firm’s specific line of business, the company is listed in the United States as a foreign private issuer and maintains standard board committees such as audit, nomination and compensation, reflecting a typical public-company governance structure.
On January 22, 2026, NetClass Technology entered into a new director offer letter with independent director Angel Colon, effective retroactively to January 1, 2026, replacing a 2022 agreement that had compensated him in Class A ordinary shares. Under the updated terms, Colon will receive annual cash compensation of $45,000 paid monthly and an additional $9,000 paid quarterly, and the company will settle 2,083 previously accrued Class A shares for his service from August 1 to December 31, 2025 with a one-time cash payment of $3,749.40. The move shifts director remuneration away from equity and clarifies that this cash settlement covers all amounts due to Colon through December 31, 2025, signaling a tightening and standardization of NetClass’s director pay structure as it matures in the public markets.
On January 27, 2026, NetClass Technology Inc received a notice from Nasdaq’s Listing Qualifications Department that its Class A ordinary shares had traded below the US$1.00 minimum bid price requirement for 30 consecutive business days, putting the company out of compliance with Nasdaq Listing Rule 5550(a)(2). The notification does not immediately affect the company’s Nasdaq listing, and its shares will continue to trade under the ticker “NTCL” while NetClass has until July 27, 2026, to restore its share price to at least US$1.00 for 10 consecutive business days, with the possibility of an additional compliance period if other listing standards are met and remedial actions such as a reverse stock split are pursued. The company said it is evaluating options to regain compliance, underscoring a period of heightened listing risk that could ultimately lead to delisting procedures if the deficiency is not cured, a development that would be significant for shareholders and the company’s access to U.S. capital markets.
On January 23, 2026, NetClass Technology Inc called an extraordinary general meeting (EGM) of shareholders to be held on February 13, 2026 in Singapore, asking investors to vote on a sweeping set of capital and governance changes. The board is seeking approval to increase the company’s authorized share capital dramatically from 200 million to 40 billion ordinary shares split between Class A and Class B stock, adopt a new set of amended and restated constitutional documents to reflect that expansion, and give directors broad discretion over one or more share consolidations (reverse stock splits) of up to an aggregate 2,000-to-1 within two years. Shareholders are also being asked to endorse follow‑on amendments to the firm’s governing documents to align them with any future consolidations, and to grant general authorization for directors, the Cayman registrar and the transfer agent to execute all related administrative actions, including share certificate updates and potential adjournment of the EGM if support proves initially insufficient. Together, the proposals would give management significant flexibility to reshape the capital structure, with implications for future equity issuance, potential dilution and the company’s ability to manage its share price and market listing requirements.
On December 23, 2025, NetClass Technology Inc. held consecutive meetings in Singapore for holders of its Class A and Class B ordinary shares, followed by its annual general meeting, to approve a series of governance and capital-structure changes. Shareholders of both classes approved a significant increase in the voting power of Class B ordinary shares from 15 votes per share to 50 votes per share, as well as the adoption of a Second Amended and Restated Memorandum and Articles of Association that implement the higher voting rights and add post-IPO and corporate-governance provisions customary for Cayman-incorporated, U.S.-listed issuers. At the AGM, investors also reappointed all incumbent directors and ratified Wei, Wei & Co., LLP as the independent auditor for the fiscal year ended September 30, 2025, cementing the existing board’s control and further entrenching the influence of the Class B shareholder base relative to Class A holders.
On December 22, 2025, NetClass Technology Inc filed a Form 6-K as a foreign private issuer, furnishing unaudited interim condensed consolidated financial statements and management’s discussion and analysis for the six months ended March 31, 2025. The filing details a balance sheet showing total assets of about $11.3 million as of March 31, 2025, up from $7.2 million at September 30, 2024, alongside higher cash and restricted cash balances and increased long-term assets such as operating lease right-of-use assets and intangible assets. Liabilities rose to roughly $4.6 million, including a new long-term bank loan of $372,070, but shareholders’ equity more than doubled to about $6.5 million, supported by a significant increase in additional paid-in capital. Over the six-month period to March 31, 2025, revenue of $3.65 million was broadly flat year on year, while gross profit contracted and operating expenses—particularly general and administrative costs—surged, resulting in a substantially larger operating loss and a deeper accumulated deficit. The disclosure gives investors and other stakeholders an updated view of NetClass’s strengthening balance sheet and capital base, but also highlights mounting losses and cost pressures that may weigh on profitability and strategic flexibility.
NetClass Technology Inc, a Cayman Islands exempted company, has announced its upcoming annual general meeting of shareholders, scheduled for December 23, 2025, in Singapore. The meeting will address several key proposals, including a significant change in the voting rights of Class B ordinary shares from 15 to 50 votes per share, which could impact the company’s governance structure. Additionally, shareholders will vote on the reappointment of directors, the appointment of an independent auditor, and the adoption of a Restated Memorandum and Articles of Association to reflect post-IPO corporate governance provisions.