NetClass Technology Inc (NTCL) Revenue History
Annual and quarterly revenue from 2020 to present
NTCL Revenue Over Time (2020–2025)
NTCL Revenue Growth History
2 of 5 years with positive growth- FY2020 revenue growth
- N/A
- FY2021 revenue growth
- +288.4%
- FY2022 revenue growth
- -19.9%
- FY2023 revenue growth
- +19.8%
- FY2024 revenue growth
- -8.9%
- FY2025 revenue growth
- -2.9%
| Quarter | Revenue | YoY |
|---|---|---|
| Q4 2025 | $6.2M | -2.9% |
| Q2 2025 | $3.7M | -3.0% |
| Q4 2024 | $6.3M | -19.1% |
| Q2 2024 | $3.8M | — |
| Q4 2023 | $7.8M | — |
Revenue Breakdown (FY 2025)
NTCL's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
By Geography
NTCL Revenue Analysis (2020–2025)
Current Revenue & Growth
As of June 28, 2026, NetClass Technology Inc (NTCL) generated trailing twelve-month (TTM) revenue of $19.9 million, reflecting slight decline in growth of -2.9% year-over-year. The most recent quarter (Q4 2025) recorded $6.2 million in revenue, up 68.3% sequentially.
Historical Growth Trajectory
NTCL's 5-year compound annual growth rate (CAGR) stands at +26.9%, indicating outstanding long-term growth trajectory. The 3-year CAGR of +1.9% is below the 5-year average, signalling a growth deceleration in recent years. NetClass Technology Inc's highest annual revenue of $11.6 million was recorded in 2021.
Revenue by Segment
NTCL's revenue is primarily driven by Application Development Services (82%), and Subscription Service (18%). With over half of revenue concentrated in Application Development Services, the company has a focused business model while developing other growth vectors.
Peer Comparison
Compared to Technology sector peers — including GOTU (+35.0% YoY), EDTK (-94.2% YoY), and TAL (+37.9% YoY) — NTCL has underperformed the peer group in revenue growth. Compare NTCL vs GOTU →
NTCL Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| NTCLCurrent | $20M | -2.9% | +26.9% | -111.5% | |
 GOTU | $6.1B | +35.0% | -2.9% | -8.2% | |
 EDTK | $893,690 | -94.2% | -50.0% | -116.4% | |
 TAL | $3.0B | +37.9% | -7.7% | 9.2% | |
 EDU | $4.9B | +7.3% | +6.5% | 8.7% | |
 DAO | $5.9B | +5.0% | +18.5% | 3.9% |
NTCL Historical Revenue Data (2020–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $9.8M | -2.9% | $2.2M | 22.8% | $-10,934,311 | -111.5% |
| 2024 | $10.1M | -8.9% | $2.3M | 22.9% | $-1,288,831 | -12.8% |
| 2023 | $11.1M | +19.8% | $2.4M | 21.3% | $387K | 3.5% |
| 2022 | $9.3M | -19.9% | $3.0M | 32.8% | $48K | 0.5% |
| 2021 | $11.6M | +288.4% | $4.0M | 34.4% | $1.2M | 10.4% |
| 2020 | $3.0M | - | $1.1M | 35.9% | $75K | 2.5% |
Intrinsic Valuation
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Historical Returns
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Peer Comparison
Compare growth, multiples, and margins vs sector.
NTCL — Frequently Asked Questions
Quick answers to the most common questions about buying NTCL stock.
Is NTCL's revenue growth accelerating or slowing?
NTCL revenue growth is slowing. TTM revenue is $20M, up -2.9% year-over-year — below the 5-year CAGR of +26.9%. The deceleration suggests maturing end-markets or increased competition.
What is NTCL's revenue history from 2020 to 2026?
NetClass Technology Inc (NTCL) revenue history spans 2020 to 2026. TTM revenue as of 2026 is $20M, growing at -2.9% YoY. The 5-year CAGR is +26.9%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is NTCL's long-term revenue growth rate (CAGR)?
NetClass Technology Inc's 5-year revenue CAGR of +26.9% reflects the variable nature of its business expansion. As of 2026, the current YoY growth rate of -2.9% is below this long-term average. CAGR is the most reliable measure of sustained revenue momentum for NTCL.
Why does NTCL's quarterly revenue fluctuate?
NTCL quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. NetClass Technology Inc's revenue data from 2020 to 2026 shows full historical quarterly detail on this page.
How is NTCL's revenue distributed by segment?
NTCL reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does NTCL's revenue compare to industry peers?
NetClass Technology Inc (NTCL) with TTM revenue of $20M and -2.9% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.