Recent Updates — NTCL
NetClass Technology Inc. entered into a Joint Venture Formation Agreement on October 1, 2026, to establish Linkee AI Company Limited for the development and sale of AI companion smart hardware. The joint venture company was incorporated in Hong Kong on October 5, 2026, with an initial capitalization of HKD 10 million. NetClass holds a 40% stake and is expected to contribute HKD 4 million, while Xiangdong Wang holds 49% and Future Science and Education Development Foundation Limited holds 11%. The venture will launch the LinkeeBot product line targeting students and young professionals in Asian markets using an asset-light model. NetClass Technology Inc. operates as a B2B smart education IT solutions provider offering SaaS and software development services.
On September 2, 2026, NetClass Technology Inc entered into a securities purchase agreement with Dragonsoft Holding Limited to issue and sell 300,000 Class B Ordinary Shares at $1.88 per share. The transaction closed on September 3, 2026, resulting in Dragonsoft Holding Limited holding 100% of the outstanding Class B shares, which represent 91.34% of the company's total voting power. This private placement was executed under Section 4(a)(2) of the Securities Act of 1933 and Regulation S. NetClass Technology Inc operates in the technology sector, providing software solutions for network management and security.
NetClass Technology Inc entered into a securities purchase agreement with Dragonsoft Holding Limited to issue and sell 100,000 Class B Ordinary Shares at $2.69 per share. The transaction was completed on August 5, 2026, following the closing price of the Company’s Class A ordinary shares on July 31, 2026. Dragonsoft Holding Limited is controlled by Dr. Jianbiao Dai, the Company's Chief Executive Officer and Chairman. Following this issuance, the Buyer holds 100% of the outstanding Class B ordinary shares, representing 77.93% of the total voting power of the Company's issued and outstanding Class A and Class B ordinary shares combined. The transaction was executed pursuant to exemptions from registration under Section 4(a)(2) of the Securities Act of 1933 and Regulation S. NetClass Technology Inc operates in the technology sector, providing software solutions for the education industry.
NetClass Technology Inc. reported unaudited financial results for the six months ended March 31, 2026, showing total revenues of $6.4 million, a 74% increase from $3.7 million in the prior-year period. This growth was driven by application development services ($3.9 million) and the launch of a new AI computing support service ($1.1 million). Despite revenue growth, the company reported a net loss of $6.0 million, compared to a $5.0 million loss for the same period in 2025, primarily due to a 99.3% decrease in gross profit to $2,231. Additionally, the company announced a 50-for-1 reverse stock split effective July 6, 2026. The company operates in the technology industry, providing subscription and application development services.
NetClass Technology Inc. regained compliance with Nasdaq's minimum bid price requirement on July 21, 2026. This follows a 50-for-1 reverse stock split that took effect on July 6, 2026, intended to address a deficiency where Class A ordinary shares traded below $1.00 for 30 consecutive business days. The company maintained a closing bid price of $1.00 or greater for ten consecutive business days from July 7 to July 20, 2026. NetClass Technology Inc. is a technology company.