IDT Q2 2023 Earnings Report

IDT reported second quarter fiscal year 2023 results with substantial EPS increase driven by high growth, high margin businesses.

Key Takeaways

IDT Corporation reported significant year-over-year increases in Adjusted EBITDA, income from operations, and EPS, led by contributions from NRS, BOSS Money, and net2phone. NRS more than doubled its recurring revenue, net2phone achieved 30% year-over-year subscription revenue growth, and BOSS Money's transaction volumes increased by 39% year-over-year.

NRS more than doubled its recurring revenue, driven by advertising and data revenue.

net2phone achieved 30% year-over-year subscription revenue growth, with a 35% increase in Latin American markets and a 23% increase in US-based revenue.

BOSS Money's transaction volumes through retail and direct-to-consumer channels increased by 39% year-over-year.

IDT delivered significant year-over-year increases in Adjusted EBITDA, income from operations, and EPS.