IDT Q2 2023 Earnings Report
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.