Company Analysis

Netclass Technology Inc (NTCL)

Nasdaq: NTCL · Services-Prepackaged Software · Singapore · filing with the SEC since 2022
Grade3.1
◀ Past 3.2● Present 2.6▶ Future 3.6
2 est.

The grade of Netclass Technology Inc

Nine metrics read from its own filings, by tense
Headline grade
3.1/10
◀ Past3.225% of the headline
● Present2.635% of the headline
▶ Future3.640% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 7 read as filed from the record and 2 are SI estimates, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

3.2/1025% of the headline grade · 2 of 3 filed, 1 estimated

Surviving crises

as filed
3.3/10

Has it survived what it has been through?

1 warning event since 2022; the latest 2025-01-31.

weight 22% of this tense · 33rd percentile among 230 sector filers · read for itself

From the record

Netclass Technology Inc's filings since 2022 show 1 warning event: a late-report notice (Form NT 10-K or NT 10-Q, the latest 2025-01-31) (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed
3.1/10

What has it actually done, year after year?

+1.9% a year over 4 filed years; profitable in 2 of 4.

weight 45% of this tense · 31st percentile among 213 sector filers · read for its customers

From the record

Netclass Technology Inc's 4 filed years say what it did: revenue went from $9 million in fiscal 2022 to $10 million in fiscal 2025, up 1.9% a year; it rose in 1 of 3 years; the deepest fall was 12% from fiscal 2023 to fiscal 2025; net income was positive in 2 of 4 of those years (its annual reports).

What it rests on

  • revenue growth over the filed span1.9%bottom 17% of its family
  • the share of years revenue rosebottom 6% of its family
  • the share of filed years with a profittop 31% of its family
  • the deepest fall from a revenue peak11.6%bottom 34% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

SI estimate
3.3/10

How has it treated the people who own it?

SI estimate 3.3/10, confidence 35 of 100 (one part).

weight 33% of this tense · 33rd percentile among 216 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate
Read from one part only, the share count over the years, which ranks in the bottom 33% of 216 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
What the record cannot read
Fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
How it was reasoned
one part: the share count over the years, the one part on file, ranked among 216 in its family.
Confidence
35 of 100
What would change it
A filing that carries the missing parts replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Netclass Technology Inc's shareholder treatment is put at 3.3 of 10 with a confidence of 35 of 100, because read from one part only, the share count over the years, which ranks in the bottom 33% of 216 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income. A filing that carries the missing parts replaces this estimate with the filed reading.

● Present

What are they doing right now?

2.6/1035% of the headline grade · 2 of 3 filed, 1 estimated

Financial health

as filed
2.2/10

Is it financially healthy right now?

ROE -181%: lost 181¢ per shareholder dollar. Leverage 57%: owes 57¢ per asset dollar.

weight 45% of this tense · 22nd percentile among 217 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-09-30, Netclass Technology Inc lost about 181 cents for every dollar of shareholders' money, and gross profitability: its products earned about 16 cents per dollar of everything the company owns. Leverage: it owed about 57 cents per dollar of assets, and net share issuance: its share count grew 14.2% over the year (the filed statements).

What it rests on

  • what it owes per dollar of assetsbottom 37% of its family
  • return on equitybottom 6% of its family
  • gross profit against assetsbottom 18% of its family
  • the share count against the year beforebottom 25% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed
1.6/10

How strong is its position in its industry?

bottom 17% of 218 in its family; net margin -110.4%.

weight 33% of this tense · 17th percentile among 218 sector filers · read for its customers

From the record

Netclass Technology Inc's standing among 218 graded names in its industry family: revenue of $10 million in fiscal 2025 ranks in the bottom 13% by size; a net margin of -110.4% ranks in the bottom 14%; revenue growth of 1.9% a year over the last 3 filed years ranks in the bottom 23% (its annual reports).

What it rests on

  • revenue against the family$9.8Mbottom 13% of its family
  • net margin-110.4%bottom 14% of its family
  • three-year revenue growth1.9%bottom 23% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

SI estimate
4.8/10

What are the people in charge doing?

SI estimate 4.8/10, confidence 20 of 100 (family median).

weight 22% of this tense · 50th percentile among 157 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate
It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; no officer or director has filed a Form 3, 4 or 5 for it in the last fifteen months, so the years in charge cannot be read, so the desk assumes the typical reading of its industry family, the median of 157 members with one.
What the record cannot read
It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; no officer or director has filed a Form 3, 4 or 5 for it in the last fifteen months, so the years in charge cannot be read.
How it was reasoned
family median, 157 readings behind it.
Confidence
20 of 100
What would change it
Its next annual report on file with the inputs replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Netclass Technology Inc's leadership is put at 4.8 of 10 with a confidence of 20 of 100, because it files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; no officer or director has filed a Form 3, 4 or 5 for it in the last fifteen months, so the years in charge cannot be read, so the desk assumes the typical reading of its industry family, the median of 157 members with one. Its next annual report on file with the inputs replaces this estimate with the filed reading.

▶ Future

What are they set up to do next?

3.6/1040% of the headline grade · 3 of 3 filed

Room to expand

as filed
2.7/10

How much room does it have to grow?

bottom 27% of 216 in its family for room to expand.

weight 22% of this tense · 27th percentile among 216 sector filers · read for itself

From the record

Netclass Technology Inc's room to grow, from the newest filed statements (fiscal 2025): cash of $2 million against no long-term debt tagged leaves 12.8% of its assets as net cash, bottom 47% of its family; cash from operations less capital spending is -58.4% of revenue (bottom 14%); a gross margin of 22.8% (bottom 7%); research spending of 17.1% of revenue (bottom 39%) (its annual report).

What it rests on

  • cash less debt against assets12.8%bottom 47% of its family
  • cash from operations less capital spending against revenue-58.4%bottom 14% of its family
  • gross margin22.8%bottom 7% of its family
  • research spending against revenue17.1%bottom 39% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed
5.8/10

What could actually drive growth from here?

top 42% of 213 in its family for growth drivers.

weight 45% of this tense · 58th percentile among 213 sector filers · read for its customers

From the record

Netclass Technology Inc's growth drivers, from the filed years to fiscal 2025: revenue grew 1.9% a year over the last three filed years against 1.9% over all 4, speeding up (top 27% of its family); the newest year grew -2.9% (bottom 14%); research spending grew 26.5% a year (top 12%) (its annual reports). Netclass Technology Inc reported 3 product lines in fiscal 2025: Application Development Services at $8 million (81%), Subscription Service at $2 million (18%), Artificial Intelligence Power Support Services at $148 thousand (2%); 1 of 2 grew against the year before (its annual report).

What it rests on

  • three-year growth against the whole span+0.0 points a yeartop 27% of its family
  • the newest year's revenue growth-2.9%bottom 14% of its family
  • three-year growth of research spending26.5%top 12% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed
1.0/10

Did its newest year beat what its own record pointed to?

bottom 10% of 194 in its family for expectations against reality.

weight 33% of this tense · 10th percentile among 194 sector filers · read for its shareholders

From the record

Netclass Technology Inc's newest year against its own record: revenue of $10 million in fiscal 2025 came in 7.1% below the $11 million its prior three years' pace pointed to (bottom 22% of its family); net income of $11 million against a prior three-year average of $394 thousand (bottom 2%); a net margin of a loss larger than its revenue against -3.9% before (bottom 6%) (its annual reports).

What it rests on

  • revenue against the prior three years' pace-7.1%bottom 22% of its family
  • net income against the prior three years' averagefive times below its prior average or morebottom 2% of its family
  • net margin against its prior averagedown more than 100 pointsbottom 6% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton NTCL · research, not advice