IDT Q3 2023 Earnings Report
Key Takeaways
IDT Corporation reported a year-over-year increase in gross profit, Adjusted EBITDA, and EPS, driven by the expansion of its high-growth, high-margin businesses and resilient cash flows from the Traditional Communications segment. NRS added new POS terminals and payment processing accounts, net2phone increased subscription revenue, and BOSS Money's remittance volume grew.
NRS added new POS terminals and payment processing accounts at a record pace.
net2phone increased its subscription revenue by 20% year-over-year.
BOSS Money's remittance volume increased by 38% year over year driving a 29% revenue increase.
IDT is positioned to continue delivering solid results across a wide variety of economic conditions with a diverse mix of businesses, backed by a solid balance sheet and with no debt.
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IDT Revenue by Segment
Forward Guidance
IDT expects NRS to continue to perform extremely well, net2phone is expected to launch exciting new offerings and features, and BOSS Money continues to focus on retail channel expansion.