IDT Q1 2022 Earnings Report
Key Takeaways
IDT Corporation reported strong first-quarter results, with year-over-year increases in revenue, gross profit, income from operations, and Adjusted EBITDA. Key growth drivers were net2phone, NRS, and BOSS Money.
NRS revenue increased by 104% year-over-year, driven by strong demand for NRS PAY payment processing, digital advertising, and transaction data services.
Recurring revenue at NRS increased 126% to $8.6 million.
net2phone-UCaaS subscription revenue increased 37.5% year-over-year.
Traditional Communications revenue increased 6.7% year-over-year to $334.6 million, with Mobile Top-Up revenue climbing 34.1%.
IDT
IDT
IDT Revenue by Segment
Forward Guidance
The company is making progress preparing for the potential spin-off of net2phone, with timing dependent on market conditions and other factors.
Revenue & Expenses
Visualization of income flow from segment revenue to net income