IDT Corporation (NYSE: IDT), a global provider of fintech, cloud
communications, and traditional communications solutions, today
reported results for the fourth quarter and full fiscal year 2024,
the three and twelve months ended July 31, 2024.
FOURTH QUARTER HIGHLIGHTS
(Throughout this release, unless otherwise
noted, results for the fourth quarter of fiscal year 2024 (4Q24)
are compared to the fourth quarter of fiscal year 2023 (4Q23) and
results for FY 2024 are compared to FY 2023. All earnings per share
(EPS) and other ‘per share’ results are per diluted share.)
- Business
Highlights:
-
NRS added 1,800 net new active point-of-sale (POS)
terminals, aided by summer seasonal factors, to reach approximately
32,100 at July 31st. Recurring revenue increased 42% to $26.7
million led by a 57% increase in merchant services revenue. Income
from operations jumped 252% to $6.0 million, and Adjusted EBITDA
increased 195% to $7.1 million;
- BOSS
Money increased remittance transactions by 42% to 5.4
million and revenue by 41% to $31.5 million;
-
net2phone added approximately 12,000 net seats
served, to reach approximately 396,000 seats at July 31st.
Subscription revenue increased 15% to $20.5 million;
- IDT Consolidated:
-
Revenue increased 2% to $308.8 million driven by
revenue growth at NRS, BOSS Money, net2phone and IDT Digital
Payments.
- Gross
profit increased 13% to $102.2 million and gross
profit margin increased 320 bps to 33.1% - both record
levels, driven by the rapid expansion of IDT’s high-margin
businesses;
- Income
from operations increased 68% to $20.1 million;
- Net
income attributable to IDT increased 362% to $36.8 million
from $8.0 million, including the positive impact of an income tax
benefit in 4Q24 of $23.6 million;
- GAAP
EPS increased to $1.45 from $0.31;
- Non-GAAP
EPS** increased to $0.57 from $0.36;
-
Consolidated Adjusted EBITDA increased 40% to
$25.2 million, the highest level of quarterly Adjusted EBITDA in
IDT’s history;
-
Repurchased 94,314 shares of IDT Class B common
stock in market transactions for $3.4 million.
FISCAL YEAR 2024 HIGHLIGHTS
- Business
Highlights:
-
NRS added approximately 6,400 net new active
terminals and increased recurring revenue 36% to $96.9 million.
Income from operations increased 50% to $21.6 million and Adjusted
EBITDA increased 49% to $25.0 million;
- BOSS
Money increased transaction volume 41% to 18.34 million
and increased revenue 41% to $108.3 million;
-
net2phone increased subscription revenue 17% to
$78.4 million;
- IDT Consolidated:
-
Revenue decreased 3% to $1,205.8 million due to
declines in IDT’s Traditional Communications segment revenues that
were in line with expectations;
- Gross
profit increased 9% to $390.2 million and gross
profit margin increased 360 bps to 32.4%, both all-time,
full fiscal year record levels;
- Income
from operations increased 7% to $64.8 million;
- Net
income attributable to IDT increased 59% to $64.5 million,
including the positive impact of an income tax benefit of $23.6
million;
- GAAP
EPS increased to $2.54 from $1.58;
- Non-GAAP
EPS increased to $1.95 from $1.86;
- Adjusted
EBITDA increased 4% to $89.7 million, the highest level in
IDT’s history;
-
Repurchased 298,421 shares of IDT Class B common
stock in market transactions for $9.1 million.
REMARKS BY SHMUEL JONAS,
CEO
“IDT delivered a strong fourth quarter
highlighted by record Adjusted EBITDA to cap off our 2024 fiscal
year. NRS, BOSS Money and net2phone all performed well, while our
Traditional Communications segment businesses delivered solid cash
flows.
“At NRS, we continued to make good progress on
our strategic priorities - expanding our customer base in the large
independent retailer market, increasing the penetration of NRS Pay,
developing point of sale solutions for new verticals, building out
our advertising tech and deploying hundreds of screens in new
locations outside of our independent retail market – all while
significantly increasing profitability.
“At BOSS Money, we again achieved year-over-year
transaction volume and revenue growth of over 40% during the fourth
quarter. BOSS Money’s economics continue to improve as the business
scales, which enabled our Fintech segment to achieve its first
quarter of positive cash-flow generation.
“net2phone is steadily building its customer
base - again adding approximately twelve thousand net new seats
including two thousand CCaaS seats in the fourth quarter– while
also doing a good job of controlling costs. As a result,
net2phone’s Adjusted EBTIDA margin more than doubled compared to
the year ago quarter. We are focused on further improving
net2phone’s bottom line through continued volume growth and
increasing revenue per user – driven by expansion of our
higher-revenue, higher-margin CCaaS offering and by migrating
customers to premium plans and features, including plans with new
AI-powered functionalities.
“In our Traditional Communications segment, we
significantly improved the economics of our business, and began to
see the expected payoff from cost reduction initiatives we
implemented throughout fiscal year 2024. In fiscal 2025, we will
continue to pursue opportunities to improve the performance of our
business and lower costs while maximizing cash-flows and
reinvesting in customer acquisition.
“IDT enters fiscal 2025 with strong momentum.
NRS, BOSS Money and ne2phone are all profitable and each has a long
growth runway. In the year ahead, we will drive their continued
expansion and invest in new, exciting growth initiatives that
leverage our strategic assets and expertise.
“We remain committed to maximizing the cash
generation from each of our segments, building dynamic businesses
for long term value creation, and returning value to our
stockholders through our investments in new initiatives, share
buybacks and dividends.”
CONSOLIDATED RESULTS
|
IDT Consolidated Results($ in millions, except
gross profit margin and EPS) |
|
|
4Q24 |
4Q23 |
|
4Q24-4Q23 (% Δ) |
|
FY24 |
FY23 |
|
FY24-FY23 (% Δ) |
|
Revenue |
$ |
308.8 |
|
$ |
303.88 |
|
|
|
+1.7 |
% |
|
$ |
1,205.8 |
|
$ |
1,238.9 |
|
|
|
(2.7 |
)% |
|
Gross profit |
$ |
102.2 |
|
$ |
90.7 |
|
|
|
+12.7 |
% |
|
$ |
390.2 |
|
$ |
357.2 |
|
|
|
+9.2 |
% |
|
Gross profit margin |
|
33.1 |
% |
|
29.9 |
% |
|
+320 bps |
|
|
32.4 |
% |
|
28.8 |
% |
|
+360 bps |
|
Technology & development |
$ |
12.6 |
|
$ |
12.1 |
|
|
|
+3.8 |
% |
|
$ |
50.6 |
|
$ |
48.0 |
|
|
|
+5.3 |
% |
|
SG&A |
$ |
69.5 |
|
$ |
65.7 |
|
|
|
+5.8 |
% |
|
$ |
270.2 |
|
$ |
243.2 |
|
|
|
+11.1 |
% |
|
Income from operations |
$ |
20.1 |
|
$ |
12.0 |
|
|
|
+68.4 |
% |
|
$ |
64.8 |
|
$ |
60.7 |
|
|
|
+6.6 |
% |
|
Net income attributable to IDT |
$ |
42.0 |
|
$ |
8.0 |
|
|
|
+426.3 |
% |
|
$ |
69.6 |
|
$ |
40.5 |
|
|
|
+71.9 |
% |
|
Adjusted EBITDA |
$ |
25.2 |
|
$ |
18.1 |
|
|
|
+39.5 |
% |
|
$ |
89.7 |
|
$ |
86.2 |
|
|
|
+4.1 |
% |
|
GAAP EPS (diluted) |
$ |
1.45 |
|
$ |
0.31 |
|
|
+$ |
1.14 |
|
|
$ |
2.54 |
|
$ |
1.58 |
|
|
+$ |
0.96 |
|
|
Non-GAAP EPS (diluted) |
$ |
0.57 |
|
$ |
0.36 |
|
|
+$ |
0.21 |
|
|
$ |
1.95 |
|
$ |
1.86 |
|
|
+$ |
0.09 |
|
|
|
|
|
|
|
|
|
|
|
|
FOURTH QUARTER & FISCAL YEAR 2024 RESULTS BY
SEGMENT
|
Fiscal Quarters(in millions) |
NRS |
Fintech |
net2phone |
Traditional Communications |
|
4Q24 |
4Q23 |
(%Δ) |
4Q24 |
4Q23 |
(%Δ) |
4Q24 |
4Q23 |
(%Δ) |
4Q24 |
4Q23 |
(%Δ) |
|
Revenue |
$ |
28.2 |
|
$ |
19.9 |
|
+42 |
% |
$ |
34.6 |
|
$ |
24.6 |
|
+41 |
% |
$ |
21.4 |
|
$ |
19.3 |
|
+11 |
% |
$ |
224.6 |
|
$ |
240.0 |
|
(6 |
)% |
|
Direct cost of revenue |
$ |
2.1 |
|
$ |
2.7 |
|
(22 |
)% |
$ |
15.5 |
|
$ |
11.0 |
|
+41 |
% |
$ |
4.5 |
|
$ |
4.0 |
|
+12 |
% |
$ |
184.5 |
|
$ |
195.4 |
|
(6 |
)% |
|
Gross profit |
$ |
26.1 |
|
$ |
17.2 |
|
+52 |
% |
$ |
19.1 |
|
$ |
13.6 |
|
+40 |
% |
$ |
16.8 |
|
$ |
15.2 |
|
+11 |
% |
$ |
40.1 |
|
$ |
44.7 |
|
(10 |
)% |
|
Gross profit margin |
|
92.6 |
% |
|
86.6 |
% |
+600 bps |
|
55.2 |
% |
|
55.3 |
% |
(10) bps |
|
78.8 |
% |
|
79.0 |
% |
(20) bps |
|
17.9 |
% |
|
18.6 |
% |
(70) bps |
|
Technology & development |
$ |
1.8 |
|
$ |
1.5 |
|
+19 |
% |
$ |
2.4 |
|
$ |
2.0 |
|
+23 |
% |
$ |
2.8 |
|
$ |
2.5 |
|
+11 |
% |
$ |
5.5 |
|
$ |
6.1 |
|
(10 |
)% |
|
SG&A expense |
$ |
18.2 |
|
$ |
14.0 |
|
+29 |
% |
$ |
15.9 |
|
$ |
13.6 |
|
+17 |
% |
$ |
13.1 |
|
$ |
13.2 |
|
(1 |
)% |
$ |
20.2 |
|
$ |
22.3 |
|
(10 |
)% |
|
Income (loss) from operations |
$ |
6.0 |
|
$ |
1.7 |
|
+252 |
% |
$ |
2.5 |
|
$ |
(1.9 |
) |
na |
$ |
0.8 |
|
$ |
(0.7 |
) |
na |
$ |
13.9 |
|
$ |
14.1 |
|
(1 |
)% |
|
Adjusted EBITDA |
$ |
7.1 |
|
$ |
2.4 |
|
+195 |
% |
$ |
1.5 |
|
$ |
(1.2 |
) |
na |
$ |
2.5 |
|
$ |
0.9 |
|
+170 |
% |
$ |
16.3 |
|
$ |
18.6 |
|
(12 |
)% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fiscal Years(in millions) |
NRS |
Fintech |
net2phone |
Traditional Communications |
|
FY24 |
FY23 |
(%Δ) |
FY24 |
FY23 |
(%Δ) |
FY24 |
FY23 |
(%Δ) |
FY24 |
FY23 |
(%Δ) |
|
Revenue |
$ |
103.1 |
|
$ |
77.1 |
|
+34 |
% |
$ |
120.7 |
|
$ |
86.6 |
|
+39 |
% |
$ |
82.3 |
|
$ |
72.4 |
|
+14 |
% |
$ |
899.6 |
|
$ |
1,002.7 |
|
$(10 |
)% |
|
Direct cost of revenue |
$ |
11.6 |
|
$ |
10.7 |
|
+8 |
% |
$ |
53.4 |
|
$ |
36.6 |
|
+46 |
% |
$ |
17.2 |
|
$ |
15.3 |
|
+13 |
% |
$ |
733.4 |
|
$ |
819.0 |
|
(11 |
)% |
|
Gross profit |
$ |
91.5 |
|
$ |
66.4 |
|
+38 |
% |
$ |
67.3 |
|
$ |
50.0 |
|
+35 |
% |
$ |
65.1 |
|
$ |
57.1 |
|
+14 |
% |
$ |
166.2 |
|
$ |
183.7 |
|
(10 |
)% |
|
Gross profit margin |
|
88.7 |
% |
|
86.1 |
% |
+260 bps |
|
55.8 |
% |
|
57.7 |
% |
(190) pbs |
|
79.1 |
% |
|
78.9 |
% |
+20 bps |
|
18.5 |
% |
|
18.3 |
% |
+20 bps |
|
Technology & development |
$ |
7.1 |
|
$ |
5.0 |
|
+43 |
% |
$ |
9.5 |
|
$ |
7.3 |
|
+31 |
% |
$ |
10.8 |
|
$ |
10.0 |
|
+8 |
% |
$ |
23.2 |
|
$ |
25.8 |
|
(10 |
)% |
|
SG&A expense |
$ |
62.7 |
|
$ |
47.0 |
|
+33 |
% |
$ |
59.6 |
|
$ |
47.2 |
|
+26 |
% |
$ |
52.6 |
|
$ |
49.7 |
|
+6 |
% |
$ |
84.9 |
|
$ |
89.9 |
|
(6 |
)% |
|
Income (loss) from operations |
$ |
21.6 |
|
$ |
14.4 |
|
+50 |
% |
$ |
(0.1 |
) |
$ |
(2.5 |
) |
na |
$ |
1.7 |
|
$ |
(2.8 |
) |
na |
$ |
56.4 |
|
$ |
61.3 |
|
(8 |
)% |
|
Adjusted EBITDA |
$ |
25.0 |
|
$ |
16.8 |
|
+49 |
% |
$ |
1.1 |
|
$ |
(1.8 |
) |
na |
$ |
7.9 |
|
$ |
3.0 |
|
+158 |
% |
$ |
66.3 |
|
$ |
77.5 |
|
(14 |
)% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
National Retail Solutions (NRS)
During 4Q24 and 4Q23, the NRS segment
contributed 9.1% and 6.6% of IDT’s consolidated revenue,
respectively. For FY 2024 and FY 2023, the corresponding
contributions were 8.6% and 6.2%, respectively.
|
National Retail Solutions (NRS) (Terminals and
accounts at end of period. $ in millions, except for revenue per
terminal) |
|
|
4Q24 |
3Q24 |
4Q23 |
|
4Q24-4Q23 (% Δ) |
|
FY24 |
FY23 |
|
FY24-FY23(% Δ) |
|
Terminals and payment processing accounts |
|
|
|
|
|
|
|
|
|
|
|
Active POS terminals |
|
32,100 |
|
|
30,300 |
|
|
25,700 |
|
|
+25 |
% |
|
|
|
|
|
|
Payment processing accounts |
|
21,300 |
|
|
19,500 |
|
|
15,800 |
|
|
+35 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Recurring revenue |
|
|
|
|
|
|
|
|
|
|
|
Merchant Services & Other |
$ |
16.2 |
|
$ |
14.4 |
|
$ |
10.3 |
|
|
+57 |
% |
|
$ |
54.5 |
|
$ |
32.8 |
|
|
+66 |
% |
|
Advertising and Data |
$ |
7.4 |
|
$ |
6.7 |
|
$ |
6.2 |
|
|
+19 |
% |
|
$ |
31.2 |
|
$ |
30.6 |
|
|
+2 |
% |
|
SaaS Fees |
$ |
3.1 |
|
$ |
2.9 |
|
$ |
2.3 |
|
|
+34 |
% |
|
$ |
11.2 |
|
$ |
8.0 |
|
|
+39 |
% |
|
Total recurring revenue |
$ |
26.7 |
|
$ |
24.0 |
|
$ |
18.8 |
|
|
+42 |
% |
|
$ |
96.9 |
|
$ |
71.4 |
|
|
+36 |
% |
|
POS Terminal Sales |
$ |
1.6 |
|
$ |
1.8 |
|
$ |
1.1 |
|
|
+41 |
% |
|
$ |
6.3 |
|
$ |
5.7 |
|
|
+10 |
% |
|
Total revenue |
$ |
28.2 |
|
$ |
25.7 |
|
$ |
19.9 |
|
|
+42 |
% |
|
$ |
103.1 |
|
$ |
77.1 |
|
|
+34 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
Monthly average recurring revenue per terminal* |
$ |
285 |
|
$ |
271 |
|
$ |
253 |
|
|
+13 |
% |
|
$ |
279 |
|
$ |
264 |
|
|
+6 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross profit |
$ |
26.1 |
|
$ |
22.1 |
|
$ |
17.2 |
|
|
+52 |
% |
|
$ |
91.5 |
|
$ |
66.4 |
|
|
+38 |
% |
|
Gross profit margin |
|
93 |
% |
|
86 |
% |
|
87 |
% |
|
+600 bps |
|
|
89 |
% |
|
86 |
% |
|
+260 bps |
|
Technology & development |
$ |
1.8 |
|
$ |
1.7 |
|
$ |
1.5 |
|
|
+19 |
% |
|
$ |
7.1 |
|
$ |
5.0 |
|
|
+43 |
% |
|
SG&A |
$ |
18.2 |
|
$ |
15.7 |
|
$ |
14.0 |
|
|
+29 |
% |
|
$ |
62.7 |
|
$ |
47.0 |
|
|
+33 |
% |
|
Income from operations |
$ |
6.0 |
|
$ |
4.8 |
|
$ |
1.7 |
|
|
+252 |
% |
|
$ |
21.6 |
|
$ |
14.4 |
|
|
+50 |
% |
|
Adjusted EBITDA |
$ |
7.1 |
|
$ |
5.6 |
|
$ |
2.4 |
|
|
+195 |
% |
|
$ |
25.0 |
|
$ |
16.8 |
|
|
+49 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
NRS Take-Aways / Updates:
- During 4Q24, NRS
added approximately 1,800 net active terminals – inclusive of the
addition of several hundred terminals at summer seasonal
businesses. During FY 2024, NRS added approximately 6,400 net
active terminals.
- During 4Q24, NRS
added approximately 1,900 net payment processing accounts, also
inclusive of seasonal businesses. During FY 2024, NRS added
approximately 5,600 net payment processing accounts.
- The increase in
Merchant Services & Other revenue (+57% in 4Q24, +66% in FY
2024) was driven by the increase in NRS Pay accounts and a robust
increase in average revenue per NRS pay account.
Fintech
During 4Q24 and 4Q23, the Fintech segment
contributed 11.2% and 8.1% of IDT’s consolidated revenue,
respectively. For FY 2024 and FY 2023, the corresponding
contributions were 10.0% and 7.0%, respectively.
|
Fintech (Transactions in millions. $ in millions
except for revenue per transaction) |
|
|
4Q24 |
3Q24 |
4Q23 |
|
4Q24-4Q23 (% Δ, $) |
|
FY24 |
FY23 |
|
FY24-FY23(% Δ, $) |
|
BOSS Money Transactions |
|
5.4 |
|
|
4.7 |
|
|
3.8 |
|
|
|
+42 |
% |
|
|
18.3 |
|
|
13.0 |
|
|
|
+41 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
Fintech Revenue |
|
|
|
|
|
|
|
|
|
|
|
BOSS Money |
$ |
31.5 |
|
$ |
27.6 |
|
$ |
22.3 |
|
|
|
+41 |
% |
|
$ |
108.3 |
|
$ |
76.9 |
|
|
|
+41 |
% |
|
Other |
$ |
3.2 |
|
$ |
3.9 |
|
$ |
2.3 |
|
|
|
+37 |
% |
|
$ |
12.4 |
|
$ |
9.7 |
|
|
|
+28 |
% |
|
Total Revenue |
$ |
34.6 |
|
$ |
31.5 |
|
$ |
24.6 |
|
|
|
+41 |
% |
|
$ |
120.7 |
|
$ |
86.6 |
|
|
|
+39 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
Average revenue per transaction* |
$ |
5.84 |
|
$ |
5.84 |
|
$ |
5.87 |
|
|
|
(0.7 |
)% |
|
$ |
5.91 |
|
$ |
5.93 |
|
|
|
(0.3 |
)% |
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross profit |
$ |
19.1 |
|
$ |
17.3 |
|
$ |
13.6 |
|
|
|
+40 |
% |
|
$ |
67.3 |
|
$ |
50.0 |
|
|
|
+35 |
% |
|
Gross profit margin |
|
55.2 |
% |
|
54.9 |
% |
|
55.3 |
% |
|
|
(10) |
bps |
|
|
55.8 |
% |
|
57.7 |
% |
|
|
(190) |
bps |
|
Technology & development |
$ |
2.4 |
|
$ |
2.5 |
|
$ |
2.0 |
|
|
|
+23 |
% |
|
$ |
9.5 |
|
$ |
7.3 |
|
|
|
+31 |
% |
|
SG&A |
$ |
15.9 |
|
$ |
15.3 |
|
$ |
13.6 |
|
|
|
+17 |
% |
|
$ |
59.6 |
|
$ |
47.2 |
|
|
|
+26 |
% |
|
Income (loss) from operations |
$ |
2.5 |
|
$ |
(0.6 |
) |
$ |
(1.9 |
) |
|
+$ |
4.5 |
|
|
$ |
(0.1 |
) |
$ |
(2.5 |
) |
|
+$ |
2.4 |
|
|
Adjusted EBITDA |
$ |
1.5 |
|
$ |
0.2 |
|
$ |
(1.2 |
) |
|
+$ |
2.7 |
|
|
$ |
1.1 |
|
$ |
(1.8 |
) |
|
+$ |
2.8 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Fintech Take-Aways:
- The 42% increase
in BOSS Money transactions in 4Q24 included both a 42% increase in
digital transactions and a 41% increase in retail transactions, the
latter being driven by the expansion of the BOSS Money retail agent
network and enhancements to the retailer portal. In FY 2024,
transactions increased 41% including a 46% increase in retail
transactions and a 40% increase in digital transactions.
- BOSS Money
revenue increased 41% in both 4Q24 and in FY 2024 driven primarily
by cross-marketing within the larger BOSS ecosystem and expansion
of the retail agent network.
- Fintech’s income
from operations of $2.5 million in 4Q24 included a gain of $1.8
million from the write-off of a contingent consideration payment
obligation related to an acquisition in a prior period. Fintech’s
loss from operations in FY 2024 and FY 2023 included gains of $1.8
million and $1.6 million, respectively, from the write-off of
contingent consideration payment obligations.
- Fintech Adjusted EBITDA increased by
$2.7 million and $2.8 million in 4Q24 and FY 2024, respectively,
driven by BOSS Money revenue growth, combined with improved
operating leverage as the business continues to scale.
net2phone
During 4Q24 and 4Q23, the net2phone segment
contributed 6.9% and 6.3% of IDT’s consolidated revenue,
respectively. For FY 2024 and FY 2023, the corresponding
contributions were 6.8% and 5.8%, respectively.
|
net2phone (Seats in thousands at end of
period. $ in millions) |
|
|
4Q24 |
3Q24 |
4Q23 |
|
4Q24-4Q23 (% Δ, $) |
|
FY24 |
FY23 |
|
FY24-FY23(% Δ, $) |
|
Seats |
|
396 |
|
|
384 |
|
|
352 |
|
|
|
+13 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue |
|
|
|
|
|
|
|
|
|
|
|
Subscription revenue |
$ |
20.5 |
|
$ |
20.0 |
|
$ |
17.9 |
|
|
|
+15 |
% |
|
$ |
78.4 |
|
$ |
66.8 |
|
|
|
+17 |
% |
|
Other revenue |
$ |
0.9 |
|
$ |
0.6 |
|
$ |
1.4 |
|
|
|
(38 |
)% |
|
$ |
4.0 |
|
$ |
5.6 |
|
|
|
(29 |
)% |
|
Total Revenue |
$ |
21.4 |
|
$ |
20.7 |
|
$ |
19.3 |
|
|
|
+11 |
% |
|
$ |
82.3 |
|
$ |
72.4 |
|
|
|
+14 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross profit |
$ |
16.8 |
|
$ |
16.4 |
|
$ |
15.2 |
|
|
|
+11 |
% |
|
$ |
65.1 |
|
$ |
57.1 |
|
|
|
+14 |
% |
|
Gross profit margin |
|
78.8 |
% |
|
79.2 |
% |
|
79.0 |
% |
|
|
(20) |
bps |
|
|
79.1 |
% |
|
78.9 |
% |
|
|
+20 |
bps |
|
Technology & development |
$ |
2.8 |
|
$ |
2.8 |
|
$ |
2.5 |
|
|
|
11 |
% |
|
$ |
10.8 |
|
$ |
10.0 |
|
|
|
+8 |
% |
|
SG&A |
$ |
13.1 |
|
$ |
13.0 |
|
$ |
13.2 |
|
|
|
(1 |
)% |
|
$ |
52.6 |
|
$ |
49.7 |
|
|
|
+6 |
% |
|
Income (loss) from operations |
$ |
0.8 |
|
$ |
0.5 |
|
$ |
(0.7 |
) |
|
+$ |
1.6 |
|
|
$ |
1.7 |
|
$ |
(2.8 |
) |
|
+$ |
4.4 |
|
|
Adjusted EBITDA |
$ |
2.5 |
|
$ |
2.1 |
|
$ |
0.9 |
|
|
+$ |
1.5 |
|
|
$ |
7.9 |
|
$ |
3.0 |
|
|
+$ |
4.8 |
|
|
|
|
|
|
|
|
|
|
|
|
|
net2phone Take-Aways:
- In 4Q24,
net2phone increased seats served by 13% year over year powered by
continued expansion in key markets led primarily by the U.S.,
Brazil, and Mexico.
- In 4Q24,
subscription revenue increased 15% year-over-year driven by the
increase in seats served. Additionally, subscription revenue per
seat* increased by 2%.
- In FY 2024,
subscription revenue increased 17% compared to FY 2023.
Subscription revenue per seat increased by 4%.
- In 4Q24,
net2phone’s operating margin* increased to +4% from (4)% in 4Q23,
and Adjusted EBITDA margin* increased to 11% from 5% in 4Q23. In FY
2024, net2phone’s operating margin increased to +2% from (4)% in FY
2023, and Adjusted EBITDA margin increased to 10% from 4% in FY
2023.
Traditional Communications
During 4Q24 and 4Q23, the Traditional
Communications segment contributed 72.7% and 79.0% of IDT’s
consolidated revenue, respectively. For FY 2024 and FY 2023, the
corresponding contributions were 74.6% and 81.0%, respectively.
|
Traditional Communications($ in
millions) |
|
|
4Q24 |
3Q24 |
4Q23 |
|
4Q24-4Q23 (% Δ) |
|
FY24 |
FY23 |
|
FY24-FY23(% Δ) |
|
Revenue |
|
|
|
|
|
|
|
|
|
|
|
IDT Digital Payments |
$ |
106.1 |
|
$ |
101.6 |
|
$ |
100.8 |
|
|
+5 |
% |
|
$ |
407.4 |
|
$ |
417.1 |
|
|
(2 |
)% |
|
BOSS Revolution |
$ |
62.2 |
|
$ |
63.2 |
|
$ |
75.4 |
|
|
(18 |
)% |
|
$ |
263.2 |
|
$ |
322.1 |
|
|
(18 |
)% |
|
IDT Global |
$ |
50.3 |
|
$ |
50.1 |
|
$ |
55.6 |
|
|
(10 |
)% |
|
$ |
201.1 |
|
$ |
230.3 |
|
|
(13 |
)% |
|
Other |
$ |
6.0 |
|
$ |
6.9 |
|
$ |
8.2 |
|
|
(27 |
)% |
|
$ |
27.8 |
|
$ |
33.3 |
|
|
(16 |
)% |
|
Total Revenue |
$ |
224.6 |
|
$ |
221.7 |
|
$ |
240.0 |
|
|
(6 |
)% |
|
$ |
899.6 |
|
$ |
1,002.7 |
|
|
(10 |
)% |
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross profit |
$ |
40.1 |
|
$ |
41.2 |
|
$ |
44.7 |
|
|
(10 |
)% |
|
$ |
166.2 |
|
$ |
183.7 |
|
|
(10 |
)% |
|
Gross profit margin |
|
17.9 |
% |
|
18.6 |
% |
|
18.6 |
% |
|
(70) |
bps |
|
|
18.5 |
% |
|
18.3 |
% |
|
+20 |
bps |
|
Technology & development |
$ |
5.5 |
|
$ |
5.6 |
|
$ |
6.1 |
|
|
(10 |
)% |
|
$ |
23.2 |
|
$ |
25.8 |
|
|
(10 |
)% |
|
SG&A |
$ |
20.2 |
|
$ |
22.7 |
|
$ |
22.3 |
|
|
(10 |
)% |
|
$ |
84.9 |
|
$ |
89.9 |
|
|
(6 |
)% |
|
Income from operations |
$ |
13.9 |
|
$ |
12.5 |
|
$ |
14.1 |
|
|
(1 |
)% |
|
$ |
56.4 |
|
$ |
61.3 |
|
|
(8 |
)% |
|
Adjusted EBITDA |
$ |
16.3 |
|
$ |
14.9 |
|
$ |
18.6 |
|
|
(12 |
)% |
|
$ |
66.3 |
|
$ |
77.5 |
|
|
(14 |
)% |
|
|
|
|
|
|
|
|
|
|
|
|
Take-Aways:
- The
year-over-year and sequential increases in IDT Digital Payments’
4Q24 revenue largely reflect improved unit economics.
- IDT Global
substantially mitigated the bottom-line impacts of decreasing
revenue through a traffic mix shift to higher margin routes;
- The sequential
increases in income from operations and Adjusted EBITDA were driven
by both improved unit economics at IDT Digital Payments and
decreases in SG&A and Technology & Development expenses
following significant cost cutting and streamlining initiatives
undertaken earlier in FY 2024.
OTHER FINANCIAL RESULTS
Consolidated results for all periods presented
include corporate overhead. Corporate G&A expense was $2.2
million in 4Q24 compared to $2.6 million in 4Q23. In FY 2024,
corporate G&A expense totaled $10.5 million compared to $9.3
million a year earlier.
As of July 31, 2024, IDT held $193.0 million in
cash, cash equivalents, debt securities, and current equity
investments. Current assets totaled $422.5 million and current
liabilities totaled $279.3 million. IDT had no outstanding debt at
the fiscal year end.
Net cash provided by operating activities in
4Q24 increased to $28.9 million from $25.4 million in 4Q23.
Exclusive of changes in customer deposit balances at IDT’s
Gibraltar-based bank, net cash provided by operating activities in
4Q24 increased to $31.9 million compared to $27.1 million in
4Q23.
In FY 2024, net cash provided by operating
activities increased to $78.2 million from $54.1 million in FY
2023. Exclusive of changes in customer deposit balances at IDT’s
Gibraltar-based bank, net cash provided by operating activities in
FY 2024 increased to $81.6 million from $58.3 million in FY
2023.
Capital expenditures decreased to $5.3 million
in 4Q24 from $5.9 million in 4Q23. Capital expenditures decreased
to $18.9 million in FY 2024 from $22.0 million in FY 2023.
DIVIDEND
IDT paid a quarterly dividend of $0.05 on its
Class A and Class B Common stock on October 7th to stockholders of
record as of the close of business on September 30th.
IDT EARNINGS ANNOUNCEMENT INFORMATION
This release is available for download in the
“Investors & Media” section of the IDT Corporation website
(https://www.idt.net/investors-and-media) and has been filed on a
current report (Form 8-K) with the SEC.
IDT will host an earnings conference call
beginning at 5:30 PM Eastern with management’s discussion of
results followed by Q&A with investors. To listen to the call
and participate in the Q&A, dial 1-888-506-0062 (toll-free from
the US) or 1-973-528-0011 (international) and provide the following
access code: 126998).
A replay of the conference call will be
available approximately three hours after the call concludes
through October 22, 2024. To access the call replay, dial
1-877-481-4010 (toll-free from the US) or 1-919-882-2331
(international) and provide this replay passcode: 51021. The replay
will also be accessible via streaming audio at the IDT investor
relations website.
NOTES
*NRS revenue refers to recurring revenue.
net2phone revenue refers to subscription revenue. See ‘Explanation
of Key Performance Metrics’ at the end of this release.
**Adjusted EBITDA and Non-GAAP EPS are Non-GAAP
financial measures intended to provide useful information that
supplements IDT’s or the relevant segment’s results in accordance
with GAAP. Please refer to the Reconciliation of Non-GAAP Financial
Measures later in this release for an explanation of these terms
and their respective reconciliations to the most directly
comparable GAAP measures.
ABOUT IDT CORPORATION
IDT Corporation (NYSE: IDT) is a global provider
of fintech and communications solutions through a portfolio of
synergistic businesses: National Retail Solutions (NRS),
through its point-of-sale (POS) platform, enables independent
retailers to operate more effectively while providing advertisers
and marketers with unprecedented reach into underserved consumer
markets; BOSS Money facilitates innovative international
remittances and fintech payments solutions; net2phone provides
enterprises and organizations with intelligently integrated cloud
communications and contact center services across channels and
devices; IDT Digital Payments and the BOSS
Revolution calling service make sharing prepaid products and
services and speaking with friends and family around the world
convenient and reliable; and, IDT Global and IDT
Express enable communications services to provision and manage
international voice and SMS messaging.
All statements above that are not purely about
historical facts, including, but not limited to, those in which we
use the words “believe,” “anticipate,” “expect,” “plan,” “intend,”
“estimate,” “target” and similar expressions, are forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. While these forward-looking statements
represent our current judgment of what may happen in the future,
actual results may differ materially from the results expressed or
implied by these statements due to numerous important factors. Our
filings with the SEC provide detailed information on such
statements and risks and should be consulted along with this
release. To the extent permitted under applicable law, IDT assumes
no obligation to update any forward-looking statements.
CONTACT
IDT Corporation Investor RelationsBill Ulrey
william.ulrey@idt.net973-438-3838
IDT
CORPORATIONCONSOLIDATED BALANCE
SHEETS
| July
31(in thousands, except per share data) |
|
2024(Unaudited) |
|
2023 |
|
|
ASSETS |
|
|
|
|
CURRENT ASSETS: |
|
|
|
|
Cash and cash equivalents |
|
$ |
164,557 |
|
$ |
103,637 |
|
|
Restricted cash and cash equivalents |
|
|
90,899 |
|
|
95,186 |
|
|
Debt securities |
|
|
23,438 |
|
|
42,414 |
|
|
Equity investments |
|
|
5,009 |
|
|
6,198 |
|
|
Trade accounts receivable, net of allowance for credit losses of
$6,352 at July 31, 2024 and allowance for doubtful accounts of
$5,642 at July 31, 2023 |
|
|
42,215 |
|
|
32,092 |
|
|
Settlement assets, net of reserve of $1,866 and $1,143 at July 31,
2024 and 2023, respectively |
|
|
22,186 |
|
|
32,396 |
|
|
Disbursement prefunding |
|
|
30,736 |
|
|
30,113 |
|
|
Prepaid expenses |
|
|
17,558 |
|
|
16,638 |
|
|
Other current assets |
|
|
25,927 |
|
|
28,394 |
|
|
TOTAL CURRENT ASSETS |
|
|
422,525 |
|
|
387,068 |
|
|
Property, plant, and equipment, net |
|
|
38,652 |
|
|
38,655 |
|
|
Goodwill |
|
|
26,288 |
|
|
26,457 |
|
|
Other intangibles, net |
|
|
6,285 |
|
|
8,196 |
|
|
Equity investments |
|
|
6,518 |
|
|
9,874 |
|
|
Operating lease right-of-use assets |
|
|
3,273 |
|
|
5,540 |
|
|
Deferred income tax assets, net |
|
|
35,008 |
|
|
24,101 |
|
|
Other assets |
|
|
11,546 |
|
|
10,919 |
|
|
TOTAL ASSETS |
|
$ |
550,095 |
|
$ |
510,810 |
|
|
LIABILITIES, REDEEMABLE NONCONTROLLING INTEREST, AND
EQUITY |
|
|
|
|
CURRENT LIABILITIES: |
|
|
|
|
Trade accounts payable |
|
$ |
24,773 |
|
$ |
22,231 |
|
|
Accrued expenses |
|
|
103,176 |
|
|
110,796 |
|
|
Deferred revenue |
|
|
30,364 |
|
|
35,343 |
|
|
Customer deposits |
|
|
83,003 |
|
|
86,481 |
|
|
Settlement liabilities |
|
|
21,654 |
|
|
21,495 |
|
|
Other current liabilities |
|
|
16,374 |
|
|
17,761 |
|
|
TOTAL CURRENT LIABILITIES |
|
|
279,344 |
|
|
294,107 |
|
|
Operating lease liabilities |
|
|
1,533 |
|
|
2,881 |
|
|
Other liabilities |
|
|
2,662 |
|
|
3,354 |
|
|
TOTAL LIABILITIES |
|
|
283,539 |
|
|
300,342 |
|
|
Commitments and contingencies |
|
|
|
|
Redeemable noncontrolling interest |
|
|
10,901 |
|
|
10,472 |
|
|
EQUITY: |
|
|
|
|
IDT Corporation stockholders’ equity: |
|
|
|
|
Preferred stock, $.01 par value; authorized shares—10,000; no
shares issued |
|
|
— |
|
|
— |
|
|
Class A common stock, $.01 par value; authorized shares—35,000;
3,272 shares issued and 1,574 shares outstanding at July 31, 2024
and 2023 |
|
|
33 |
|
|
33 |
|
|
Class B common stock, $.01 par value; authorized shares—200,000;
28,177 and 27,851 shares issued and 23,684 and 23,699 shares
outstanding at July 31, 2024 and 2023, respectively |
|
|
282 |
|
|
279 |
|
|
Additional paid-in capital |
|
|
303,510 |
|
|
301,408 |
|
|
Treasury stock, at cost, consisting of 1,698 and 1,698 shares of
Class A common stock and 4,493 and 4,152 shares of Class B common
stock at July 31, 2024 and 2023, respectively |
|
|
(126,080 |
) |
|
(115,461 |
) |
|
Accumulated other comprehensive loss |
|
|
(18,142 |
) |
|
(17,192 |
) |
|
Retained earnings |
|
|
86,580 |
|
|
24,662 |
|
|
Total IDT Corporation stockholders’ equity |
|
|
246,183 |
|
|
193,729 |
|
|
Noncontrolling interests |
|
|
9,472 |
|
|
6,267 |
|
|
TOTAL EQUITY |
|
|
255,655 |
|
|
199,996 |
|
|
TOTAL LIABILITIES, REDEEMABLE NONCONTROLLING INTEREST, AND
EQUITY |
|
$ |
550,095 |
|
$ |
510,810 |
|
IDT
CORPORATIONCONSOLIDATED STATEMENTS OF
INCOME
| Year
ended July 31(in thousands, except per share data) |
|
2024(Unaudited) |
|
2023 |
|
|
2022 |
|
|
REVENUES |
|
$ |
1,205,778 |
|
$ |
1,238,854 |
|
$ |
1,364,057 |
|
|
DIRECT COST OF REVENUES |
|
|
815,621 |
|
|
881,614 |
|
|
1,039,059 |
|
|
GROSS PROFIT |
|
|
390,157 |
|
|
357,240 |
|
|
324,998 |
|
| OPERATING
EXPENSES: |
|
|
|
|
|
Selling, general and administrative (i) |
|
|
270,207 |
|
|
243,159 |
|
|
216,922 |
|
|
Technology and development (i) |
|
|
50,554 |
|
|
47,988 |
|
|
47,045 |
|
|
Severance |
|
|
1,698 |
|
|
935 |
|
|
116 |
|
|
Other operating expense, net |
|
|
2,945 |
|
|
4,415 |
|
|
826 |
|
|
TOTAL OPERATING EXPENSES |
|
|
325,404 |
|
|
296,497 |
|
|
264,909 |
|
|
Income from operations |
|
|
64,753 |
|
|
60,743 |
|
|
60,089 |
|
|
Interest income, net |
|
|
4,769 |
|
|
3,147 |
|
|
146 |
|
|
Other expense, net |
|
|
(7,612 |
) |
|
(3,083 |
) |
|
(25,352 |
) |
|
Income before income taxes |
|
|
61,910 |
|
|
60,807 |
|
|
34,883 |
|
|
Benefit from (provision for) income taxes |
|
|
6,354 |
|
|
(16,441 |
) |
|
(5,878 |
) |
|
NET INCOME |
|
|
68,264 |
|
|
44,366 |
|
|
29,005 |
|
|
Net income attributable to noncontrolling interests |
|
|
(3,810 |
) |
|
(3,874 |
) |
|
(1,977 |
) |
|
NET INCOME ATTRIBUTABLE TO IDT CORPORATION |
|
$ |
64,454 |
|
$ |
40,492 |
|
$ |
27,028 |
|
|
|
|
|
|
|
|
Earnings per share attributable to IDT Corporation common
stockholders: |
|
|
|
|
|
Basic |
|
$ |
2.55 |
|
$ |
1.59 |
|
$ |
1.05 |
|
|
Diluted |
|
$ |
2.54 |
|
$ |
1.58 |
|
$ |
1.03 |
|
|
|
|
|
|
|
|
Weighted-average number of shares used in calculation of earnings
per share: |
|
|
|
|
|
Basic |
|
|
25,241 |
|
|
25,517 |
|
|
25,791 |
|
|
Diluted |
|
|
25,398 |
|
|
25,577 |
|
|
26,356 |
|
|
|
|
|
|
|
|
(i) Stock-based compensation included in: |
|
|
|
|
|
Selling, general and administrative expense |
|
$ |
7,015 |
|
$ |
3,913 |
|
$ |
1,871 |
|
|
Technology and development expense |
|
$ |
382 |
|
$ |
605 |
|
$ |
59 |
|
IDT
CORPORATIONCONSOLIDATED STATEMENTS OF CASH
FLOWS
| Year
ended July 31(in thousands) |
2024(Unaudited) |
|
2023 |
|
|
2022 |
|
|
OPERATING ACTIVITIES |
|
|
|
| Net income |
$ |
68,264 |
|
$ |
44,366 |
|
$ |
29,005 |
|
|
Adjustments to reconcile net income to net cash provided by
operating activities: |
|
|
|
|
Depreciation and amortization |
|
20,351 |
|
|
20,136 |
|
|
18,115 |
|
|
Deferred income taxes |
|
(10,907 |
) |
|
12,601 |
|
|
4,801 |
|
|
Provision for credit losses, doubtful accounts receivable, and
reserve for settlement assets |
|
4,390 |
|
|
2,198 |
|
|
2,330 |
|
|
Net unrealized loss from marketable securities |
|
1,435 |
|
|
3,368 |
|
|
18,960 |
|
|
Stock-based compensation |
|
7,397 |
|
|
4,518 |
|
|
1,930 |
|
|
Other |
|
3,144 |
|
|
3,175 |
|
|
3,379 |
|
| Changes in assets and
liabilities: |
|
|
|
|
Trade accounts receivable |
|
(12,701 |
) |
|
4,726 |
|
|
(8,279 |
) |
|
Settlement assets, disbursement prefunding, prepaid expenses, other
current assets, and other assets |
|
12,735 |
|
|
(17,503 |
) |
|
(21,046 |
) |
|
Trade accounts payable, accrued expenses, settlement liabilities,
other current liabilities, and other liabilities |
|
(7,459 |
) |
|
(17,216 |
) |
|
(1,110 |
) |
|
Customer deposits at IDT Financial Services Limited
(Gibraltar-based bank) |
|
(3,442 |
) |
|
(4,200 |
) |
|
(15,966 |
) |
|
Deferred revenue |
|
(5,016 |
) |
|
(2,029 |
) |
|
(2,712 |
) |
|
Net cash provided by operating activities |
|
78,191 |
|
|
54,140 |
|
|
29,407 |
|
| INVESTING
ACTIVITIES |
|
|
|
| Capital expenditures |
|
(18,922 |
) |
|
(21,958 |
) |
|
(21,879 |
) |
| Payments for acquisitions, net
of cash acquired |
|
— |
|
|
— |
|
|
(7,552 |
) |
| Purchase of convertible
preferred stock in equity method investment |
|
(2,017 |
) |
|
(840 |
) |
|
(1,051 |
) |
| Purchases of debt securities
and equity investments |
|
(29,921 |
) |
|
(59,872 |
) |
|
(24,454 |
) |
|
Proceeds from maturities and sales of debt securities and
redemption of equity investments |
|
50,112 |
|
|
49,211 |
|
|
21,157 |
|
|
Net cash used in investing activities |
|
(748 |
) |
|
(33,459 |
) |
|
(33,779 |
) |
| FINANCING
ACTIVITIES |
|
|
|
| Dividends paid |
|
(2,536 |
) |
|
— |
|
|
— |
|
| Distributions to
noncontrolling interests |
|
(112 |
) |
|
(348 |
) |
|
(514 |
) |
| Proceeds from notes
payable |
|
— |
|
|
300 |
|
|
2,301 |
|
| Repayment of notes
payable |
|
— |
|
|
(2,037 |
) |
|
(1,319 |
) |
| Proceeds from sale of
redeemable equity in subsidiary |
|
— |
|
|
— |
|
|
10,000 |
|
| Proceeds from borrowings under
revolving credit facility |
|
32,864 |
|
|
27,383 |
|
|
2,566 |
|
| Repayments of borrowings under
revolving credit facility |
|
(32,864 |
) |
|
(27,383 |
) |
|
(2,566 |
) |
| Purchase of restricted shares
of net2phone and National Retail Solutions common stock |
|
(4,131 |
) |
|
— |
|
|
— |
|
| Proceeds from exercise of
stock options |
|
172 |
|
|
172 |
|
|
137 |
|
|
Repurchases of Class B common stock |
|
(10,619 |
) |
|
(13,896 |
) |
|
(26,222 |
) |
|
Net cash used in financing activities |
|
(17,226 |
) |
|
(15,809 |
) |
|
(15,617 |
) |
|
Effect of exchange rate changes on cash, cash equivalents, and
restricted cash and cash equivalents |
|
(3,584 |
) |
|
4,389 |
|
|
(17,365 |
) |
|
Net increase (decrease) in cash, cash equivalents, and restricted
cash and cash equivalents |
|
56,633 |
|
|
9,261 |
|
|
(37,354 |
) |
| Cash,
cash equivalents, and restricted cash and cash equivalents at
beginning of year |
|
198,823 |
|
|
189,562 |
|
|
226,916 |
|
|
Cash, cash equivalents, and restricted cash and cash
equivalents at end of year |
$ |
255,456 |
|
$ |
198,823 |
|
$ |
189,562 |
|
|
SUPPLEMENTAL DISCLOSURE OF CASH FLOW
INFORMATION |
|
|
|
|
Cash payments made for interest |
$ |
429 |
|
$ |
536 |
|
$ |
461 |
|
|
Cash payments made for income taxes |
$ |
527 |
|
$ |
777 |
|
$ |
109 |
|
|
SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING AND FINANCING
ACTIVITIES |
|
|
|
|
Value of the Company’s Class B common stock exchanged for National
Retail Solutions shares |
$ |
6,696 |
|
$ |
— |
|
$ |
— |
|
|
Conversion of equity method investment’s secured promissory notes
into convertible preferred stock |
$ |
— |
|
$ |
4,038 |
|
$ |
— |
|
|
Shares of the Company’s Class B common stock issued to certain
executive officers for bonus payments |
$ |
1,494 |
|
$ |
615 |
|
$ |
— |
|
|
Liabilities incurred for acquisitions |
$ |
— |
|
$ |
— |
|
$ |
7,849 |
|
|
Shares of the Company’s Class B common stock issued for business
acquisitions |
$ |
100 |
|
$ |
100 |
|
$ |
1,000 |
|
|
Cashless exercise of stock options in exchange for shares of the
Company’s Class B common stock |
$ |
— |
|
$ |
— |
|
$ |
14,930 |
|
*Explanation of Key Performance
Metrics
NRS’ recurring revenue is calculated by
subtracting NRS’ revenue from POS terminal sales from its revenue
in accordance with generally accepted accounting principles in the
United States of America (GAAP). NRS’ Monthly Average Recurring
Revenue per Terminal is calculated by dividing NRS’ recurring
revenue by the average number of active POS terminals during the
period. The average number of active POS terminals is calculated by
adding the beginning and ending number of active POS terminals
during the period and dividing by two. NRS’ recurring revenue
divided by the average number of active POS terminals is divided by
three when the period is a fiscal quarter. Recurring revenue and
Monthly Average Recurring Revenue per Terminal are useful for
comparisons of NRS’ revenue and revenue per customer to prior
periods and to competitors and others in the market, as well as for
forecasting future revenue from the customer base.
BOSS Money’s Average Revenue per Transaction is
calculated by dividing BOSS Money’s revenue in accordance with GAAP
by the number of transactions during the period. Average Revenue
per Transaction is useful for comparisons of BOSS Money’s revenue
per transaction to prior periods and to competitors and others in
the market, as well as for forecasting future revenue based on
transaction trends.
net2phone’s subscription revenue is calculated
by subtracting net2phone’s equipment revenue and revenue generated
by a legacy SIP trunking offering in Brazil from its revenue in
accordance with GAAP. net2phone’s cloud communications and contact
center offerings are priced on a per-seat basis, with customers
paying based on the number of users in their organization. The
number of seats served and subscription revenue trends and
comparisons between periods are used in the analysis of net2phone’s
revenues and direct cost of revenues and are strong indications of
the top-line growth and performance of the business.
net2phone’s subscription revenue per seat is
calculated by dividing net2phone’s subscription revenue, as defined
in the preceding paragraph, by the average number of seats served
during the period. The average number of seats served is calculated
by adding the beginning and ending number of seats served and
dividing by two. Subscription revenue per seat is the amount of
revenue generated by each seat sold during the period. It provides
a basis for pricing seat-based services, as well as for comparing
performance in past periods and projecting future revenue, and for
comparing the value of each seat served to competitors.
net2phone’s operating margin is calculated by
dividing GAAP income from operations by GAAP revenue for the period
indicated. Operating margin measures the percentage that each
dollar of revenue contributes to profitability. Operating margin is
useful for evaluating current period profitability relative to
sales, for comparisons to prior period performance, for forecasting
future income from operations levels based on projected levels of
sales, and for comparing net2phone’s relative profitability to its
competitors and peers.
net2phone’s Adjusted EBITDA margin is calculated
by dividing net2phone’s Adjusted EBITDA, a Non-GAAP measure, by
net2phone’s GAAP revenue for the comparable quarter or period.
Adjusted EBITDA margin measures the percentage that each dollar of
revenue contributes to profitability before interest, taxes,
depreciation and amortization, and other adjustments as described
below in the Reconciliation of Non-GAAP Financial Measures.
net2phone’s Adjusted EBITDA margin is useful for evaluating current
period profitability relative to sales, for comparisons to prior
period performance, for forecasting future Adjusted EBITDA levels
based on projected levels of sales, and for comparing net2phone’s
relative profitability to its competitors and peers.
**Reconciliation of Non-GAAP Financial
Measures for the Fourth Quarter and Full Fiscal Years 2024 and
2023
In addition to disclosing financial results that
are determined in accordance with GAAP, IDT also disclosed for
4Q24, 3Q24, 4Q23, and the full fiscal years 2024 and 2023, Adjusted
EBITDA and non-GAAP earnings per diluted share (EPS). Adjusted
EBITDA and Non-GAAP EPS are Non-GAAP financial measures intended to
provide useful information that supplements IDT’s or the relevant
segment’s results in accordance with GAAP. The following explains
these terms and their respective reconciliations to the most
directly comparable GAAP measures
Generally, a non-GAAP measure is a numerical
measure of a company’s performance, financial position, or cash
flows that either excludes or includes amounts that are not
normally excluded or included in the most directly comparable
measure calculated and presented in accordance with GAAP.
IDT’s measure of non-GAAP EPS is calculated by
dividing non-GAAP net income by the diluted weighted-average
shares. IDT’s measure of non-GAAP net income starts with net income
attributable to IDT in accordance with GAAP and adds severance
expense, stock-based compensation, and other operating expenses,
and deducts other operating gains. These additions and subtractions
are non-cash and/or non-routine items in the relevant fiscal 2024
and fiscal 2023 periods.
Management believes that IDT’s Adjusted EBITDA
and non-GAAP EPS are measures which provide useful information to
both management and investors by excluding certain expenses and
non-routine gains and losses that may not be indicative of IDT’s or
the relevant segment’s core operating results. Management uses
Adjusted EBITDA, among other measures, as a relevant indicator of
core operational strengths in its financial and operational
decision making. In addition, management uses Adjusted EBITDA and
non-GAAP EPS to evaluate operating performance in relation to IDT’s
competitors. Disclosure of these financial measures may be useful
to investors in evaluating performance and allows for greater
transparency to the underlying supplemental information used by
management in its financial and operational decision-making. In
addition, IDT has historically reported similar financial measures
and believes such measures are commonly used by readers of
financial information in assessing performance, therefore the
inclusion of comparative numbers provides consistency in financial
reporting.
Management refers to Adjusted EBITDA, as well as
the GAAP measures income (loss) from operations and net income, on
a segment and/or consolidated level to facilitate internal and
external comparisons to the segments’ and IDT's historical
operating results, in making operating decisions, for budget and
planning purposes, and to form the basis upon which management is
compensated.
While depreciation and amortization are
considered operating costs under GAAP, these expenses primarily
represent the non-cash current period allocation of costs
associated with long-lived assets acquired or capitalized in prior
periods. IDT’s Adjusted EBITDA, which is exclusive of depreciation
and amortization, is a useful indicator of its current
performance.
Severance expense is excluded from the
calculation of Adjusted EBITDA and non-GAAP EPS. Severance expense
is reflective of decisions made by management in each period
regarding the aspects of IDT’s and its segments’ businesses to be
focused on in light of changing market realities and other factors.
While there may be similar charges in other periods, the nature and
magnitude of these charges can fluctuate markedly and do not
reflect the performance of IDT’s core and continuing
operations.
Other operating (expense) gain, net, which is a
component of income (loss) from operations, is excluded from the
calculation of Adjusted EBITDA and non-GAAP EPS. Other operating
(expense) gain, net includes, among other items, legal fees net of
insurance claims related to Straight Path Communications Inc.’s
stockholders’ class action, gains from the write-off of contingent
consideration liabilities, and expense for the indemnification of a
cable telephony customer related to a legal settlement. From
time-to-time, IDT may have gains or incur costs related to
non-routine legal, tax, and other matters, however, these various
items generally do not occur each quarter. IDT believes the gain
and losses from these non-routine matters are not components of
IDT’s or the relevant segment’s core operating results.
Stock-based compensation recognized by IDT and
other companies may not be comparable because of the variety of
types of awards as well as the various valuation methodologies and
subjective assumptions that are permitted under GAAP. Stock-based
compensation is excluded from IDT’s calculation of non-GAAP EPS
because management believes this allows investors to make more
meaningful comparisons of the operating results per share of IDT’s
core business with the results of other companies. However,
stock-based compensation will continue to be a significant expense
for IDT for the foreseeable future and an important part of
employees’ compensation that impacts their performance.
In 4Q24, because of the completion of an
Internal Revenue Code Section 382 study related to net2phone, IDT
recorded an income tax benefit of $23.6 million. This income tax
benefit was excluded from IDT’s non-GAAP EPS because it is not
related to the results of IDT’s core operations.
Adjusted EBITDA and non-GAAP EPS should be
considered in addition to, not as a substitute for, or superior to,
income (loss) from operations, cash flow from operating activities,
net income, basic and diluted earnings per share or other measures
of liquidity and financial performance prepared in accordance with
GAAP. In addition, IDT’s measurements of Adjusted EBITDA and
non-GAAP EPS may not be comparable to similarly titled measures
reported by other companies.
Following are reconciliations of Adjusted EBITDA
and non-GAAP EPS to the most directly comparable GAAP measure,
which are, (a) for Adjusted EBITDA, income (loss) from operations
for IDT’s reportable segments and net income for IDT on a
consolidated basis, and (b) for non-GAAP EPS, diluted earnings per
share.
IDT
CorporationReconciliation of Net Income to
Adjusted EBITDA (unaudited) in millions. Figures may not
foot or cross-foot due to rounding to millions
|
|
|
Total IDT Corporation |
|
|
Traditional Communica-tions |
|
|
net2phone |
|
|
NRS |
|
|
Fintech |
|
|
Corporate |
|
| Three Months Ended July 31,
2024(4Q24) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net income attributable to IDT
Corporation |
|
$ |
36.8 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Adjustments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net income attributable to noncontrolling interests |
|
|
0.9 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net income |
|
|
37.7 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Benefit from income taxes |
|
|
(17.3 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Income before income taxes |
|
|
20.4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Interest income, net |
|
|
(1.6 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Other expense, net |
|
|
1.3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Income (loss) from operations |
|
|
20.1 |
|
|
$ |
13.9 |
|
|
$ |
0.8 |
|
|
$ |
6.0 |
|
|
$ |
2.5 |
|
|
$ |
(3.2 |
) |
|
Depreciation and amortization |
|
|
5.1 |
|
|
|
1.9 |
|
|
|
1.6 |
|
|
|
0.9 |
|
|
|
0.7 |
|
|
|
- |
|
|
Severance |
|
|
- |
|
|
|
0.3 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
(0.3 |
) |
|
Other operating (gains) expense, net |
|
|
(0.1 |
) |
|
|
0.2 |
|
|
|
- |
|
|
|
0.2 |
|
|
|
(1.8 |
) |
|
|
1.3 |
|
| Adjusted EBITDA |
|
$ |
25.2 |
|
|
$ |
16.3 |
|
|
$ |
2.5 |
|
|
$ |
7.1 |
|
|
$ |
1.5 |
|
|
$ |
(2.2 |
) |
|
|
|
Total IDT Corporation |
|
|
Traditional Communica-tions |
|
|
net2phone |
|
|
NRS |
|
|
Fintech |
|
|
Corporate |
|
| Three Months Ended April 30,
2024(3Q24) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net income attributable to IDT
Corporation |
|
$ |
5.6 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Adjustments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net income attributable to noncontrolling interests |
|
|
0.8 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net income |
|
|
6.3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Provision for income taxes |
|
|
3.0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Income before income taxes |
|
|
9.3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Interest income, net |
|
|
(1.2 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Other expense, net |
|
|
3.3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Income (loss) from operations |
|
|
11.4 |
|
|
$ |
12.5 |
|
|
$ |
0.5 |
|
|
$ |
4.8 |
|
|
$ |
(0.6 |
) |
|
$ |
(5.7 |
) |
|
Depreciation and amortization |
|
|
5.1 |
|
|
|
2.0 |
|
|
|
1.6 |
|
|
|
0.8 |
|
|
|
0.7 |
|
|
|
- |
|
|
Severance |
|
|
0.8 |
|
|
|
0.4 |
|
|
|
0.1 |
|
|
|
- |
|
|
|
- |
|
|
|
0.3 |
|
|
Other operating expense, net |
|
|
3.2 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
0.1 |
|
|
|
3.2 |
|
| Adjusted EBITDA |
|
$ |
20.6 |
|
|
$ |
14.9 |
|
|
$ |
2.1 |
|
|
$ |
5.6 |
|
|
$ |
0.2 |
|
|
$ |
(2.3 |
) |
IDT CorporationReconciliation of Net
Income to Adjusted EBITDA (unaudited) in millions. Figures
may not foot or cross-foot due to rounding to millions
|
|
|
Total IDT Corporation |
|
|
Traditional Communica-tions |
|
|
net2phone |
|
|
NRS |
|
|
Fintech |
|
|
Corporate |
|
| Three Months Ended July 31,
2023(4Q23) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net income attributable to IDT
Corporation |
|
$ |
8.0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Adjustments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net income attributable to noncontrolling interests |
|
|
0.8 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net income |
|
|
8.8 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Provision for income taxes |
|
|
3.8 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Income before income taxes |
|
|
12.6 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Interest income, net |
|
|
(1.1 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Other expense, net |
|
|
0.5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Income (loss) from operations |
|
|
12.0 |
|
|
$ |
14.1 |
|
|
$ |
(0.7 |
) |
|
$ |
1.7 |
|
|
$ |
(1.9 |
) |
|
$ |
(1.2 |
) |
|
Depreciation and amortization |
|
|
5.1 |
|
|
|
2.3 |
|
|
|
1.5 |
|
|
|
0.7 |
|
|
|
0.7 |
|
|
|
- |
|
|
Severance |
|
|
0.5 |
|
|
|
0.4 |
|
|
|
0.1 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
Other operating expense, net |
|
|
0.5 |
|
|
|
1.8 |
|
|
|
0.1 |
|
|
|
- |
|
|
|
- |
|
|
|
(1.4 |
) |
| Adjusted EBITDA |
|
$ |
18.1 |
|
|
$ |
18.6 |
|
|
$ |
0.9 |
|
|
$ |
2.4 |
|
|
$ |
(1.2 |
) |
|
$ |
(2.6 |
) |
IDT CorporationReconciliation of Net
Income to Adjusted EBITDA (unaudited) in millions. Figures
may not foot or cross-foot due to rounding to millions
|
|
|
Total IDT Corporation |
|
|
Traditional Communica-tions |
|
|
net2phone |
|
|
NRS |
|
|
Fintech |
|
|
Corporate |
|
| Year Ended July 31, 2024 (FY 2024) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net income attributable to IDT
Corporation |
|
$ |
64.5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Adjustments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net income attributable to noncontrolling interests |
|
|
3.8 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net income |
|
|
68.3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Benefit from income taxes |
|
|
(6.4 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Income before income taxes |
|
|
61.9 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Interest income, net |
|
|
(4.8 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Other expense, net |
|
|
7.6 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Income (loss) from operations |
|
|
64.8 |
|
|
$ |
56.4 |
|
|
$ |
1.7 |
|
|
$ |
21.6 |
|
|
$ |
(0.1 |
) |
|
$ |
(14.9 |
) |
|
Depreciation and amortization |
|
|
20.4 |
|
|
|
8.1 |
|
|
|
6.1 |
|
|
|
3.2 |
|
|
|
2.9 |
|
|
|
0.1 |
|
|
Severance |
|
|
1.7 |
|
|
|
1.6 |
|
|
|
0.1 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
Other operating expense (gains), net |
|
|
2.9 |
|
|
|
0.2 |
|
|
|
(0.1 |
) |
|
|
0.2 |
|
|
|
(1.8 |
) |
|
|
4.4 |
|
| Adjusted EBITDA |
|
$ |
89.7 |
|
|
$ |
66.3 |
|
|
$ |
7.9 |
|
|
$ |
25.0 |
|
|
$ |
1.1 |
|
|
$ |
(10.4 |
) |
|
|
|
Total IDT Corporation |
|
|
Traditional Communica-tions |
|
|
net2phone |
|
|
NRS |
|
|
Fintech |
|
|
Corporate |
|
| Year Ended July 31, 2023 (FY 2023) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net income attributable to IDT
Corporation |
|
$ |
40.5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Adjustments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net income attributable to noncontrolling interests |
|
|
3.9 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net income |
|
|
44.4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Provision for income taxes |
|
|
16.4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Income before income taxes |
|
|
60.8 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Interest income, net |
|
|
(3.1 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Other expense, net |
|
|
3.1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Income (loss) from operations |
|
|
60.7 |
|
|
$ |
61.3 |
|
|
$ |
(2.8 |
) |
|
$ |
14.4 |
|
|
$ |
(2.5 |
) |
|
$ |
(9.7 |
) |
|
Depreciation and amortization |
|
|
20.1 |
|
|
|
9.4 |
|
|
|
5.6 |
|
|
|
2.4 |
|
|
|
2.7 |
|
|
|
0.1 |
|
|
Severance |
|
|
0.9 |
|
|
|
0.9 |
|
|
|
0.1 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
Other operating expense (gain), net |
|
|
4.4 |
|
|
|
5.9 |
|
|
|
0.1 |
|
|
|
- |
|
|
|
(1.9 |
) |
|
|
0.3 |
|
| Adjusted EBITDA |
|
$ |
86.2 |
|
|
$ |
77.5 |
|
|
$ |
3.0 |
|
|
$ |
16.8 |
|
|
$ |
(1.8 |
) |
|
$ |
(9.3 |
) |
IDT CorporationReconciliation of
Earnings per share to Non-GAAP EPS
(unaudited) in millions, except per share data. Figures may not
foot due to rounding to millions.
| |
|
|
4Q24 |
|
|
|
3Q24 |
|
|
|
4Q23 |
|
|
|
FY 2024 |
|
|
|
FY 2023 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net income attributable to IDT Corporation |
|
$ |
36.8 |
|
|
$ |
5.6 |
|
|
$ |
8.0 |
|
|
$ |
64.5 |
|
|
$ |
40.5 |
|
| Adjustments (add) subtract: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Income tax benefit |
|
|
23.6 |
|
|
|
- |
|
|
|
- |
|
|
|
23.6 |
|
|
|
- |
|
| Stock-based compensation |
|
|
(2.0 |
) |
|
|
(2.1 |
) |
|
|
(1.0 |
) |
|
|
(7.4 |
) |
|
|
(4.5 |
) |
| Severance expense |
|
|
(0.1 |
) |
|
|
(0.8 |
) |
|
|
(0.5 |
) |
|
|
(1.7 |
) |
|
|
(0.9 |
) |
| Other operating gain (expense), net |
|
|
0.1 |
|
|
|
(3.2 |
) |
|
|
(0.5 |
) |
|
|
(2.9 |
) |
|
|
(4.4 |
) |
| Total adjustments |
|
|
21.6 |
|
|
|
(6.1 |
) |
|
|
(2.0 |
) |
|
|
11.6 |
|
|
|
(9.8 |
) |
| Income tax effect of total adjustments |
|
|
(0.6 |
) |
|
|
(2.0 |
) |
|
|
(0.7 |
) |
|
|
(3.4 |
) |
|
|
(2.6 |
) |
| |
|
|
(22.2 |
) |
|
|
4.1 |
|
|
|
1.3 |
|
|
|
(15.0 |
) |
|
|
7.2 |
|
| Non-GAAP net income |
|
$ |
14.6 |
|
|
$ |
9.7 |
|
|
$ |
9.3 |
|
|
$ |
49.5 |
|
|
$ |
47.7 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Earnings per share: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Basic |
|
$ |
1.46 |
|
|
$ |
0.22 |
|
|
$ |
0.31 |
|
|
$ |
2.55 |
|
|
$ |
1.59 |
|
| Total adjustments |
|
|
(0.88 |
) |
|
|
0.16 |
|
|
|
0.06 |
|
|
|
(0.59 |
) |
|
|
0.28 |
|
| Non-GAAP - basic |
|
$ |
0.58 |
|
|
$ |
0.38 |
|
|
$ |
0.37 |
|
|
$ |
1.96 |
|
|
$ |
1.87 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Weighted-average number of shares used in calculation of basic
earnings per share |
|
|
25.3 |
|
|
|
25.3 |
|
|
|
25.4 |
|
|
|
25.2 |
|
|
|
25.5 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Diluted |
|
$ |
1.45 |
|
|
$ |
0.22 |
|
|
$ |
0.31 |
|
|
$ |
2.54 |
|
|
$ |
1.58 |
|
| Total adjustments |
|
|
(0.88 |
) |
|
|
0.16 |
|
|
|
0.05 |
|
|
|
(0.59 |
) |
|
|
0.28 |
|
| Non-GAAP - diluted |
|
$ |
0.57 |
|
|
$ |
0.38 |
|
|
$ |
0.36 |
|
|
$ |
1.95 |
|
|
$ |
1.86 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Weighted-average number of shares used in calculation of
diluted earnings per share |
|
|
25.4 |
|
|
|
25.5 |
|
|
|
25.5 |
|
|
|
25.4 |
|
|
|
25.6 |
|
# # #
IDT (NYSE:IDT)
過去 株価チャート
から 10 2024 まで 11 2024
IDT (NYSE:IDT)
過去 株価チャート
から 11 2023 まで 11 2024
