IDT Q3 2021 Earnings Report
Key Takeaways
IDT Corporation reported a strong third quarter for fiscal year 2021, with net income per diluted share of $1.39 and Non-GAAP income per diluted share of $0.47 on revenue of $374 million. The company's high growth, high margin businesses performed well, with net2phone recording subscription revenue growth of 39% year over year and NRS increasing revenue by over 120% year over year. The BOSS Revolution International Money Transfer business also showed strength, with 63% revenue growth year over year after excluding the impact of transient FX opportunities.
IDT's top and bottom lines increased appreciably compared to the year ago and prior quarters, even excluding positive impacts from tax valuation allowance reversal and investment gains.
net2phone recorded subscription revenue growth of 39% year over year, focusing on API third party integrations.
NRS accelerated its revenue growth, increasing revenue by over 120% year over year, led by payment processing and digital advertising services.
BOSS Revolution International Money Transfer business remains strong, with 63% revenue growth year over year after excluding transient FX impacts.