IDT Q4 2023 Earnings Report
Key Takeaways
IDT Corporation reported its Q4 and full fiscal year 2023 results, with a focus on the growth of its high-margin businesses, including NRS, net2phone, and BOSS Money. The company invested in growth initiatives, particularly in NRS and net2phone, and introduced new services like Elroy, a mobile banking app. Traditional Communications segment performed as expected.
NRS added a record number of net retail terminals and payment processing accounts.
net2phone increased seats served by 21% and subscription revenue by 19% year-over-year.
BOSS Money increased transactions by 42%, driving a 36% year-over-year revenue increase.
IDT is working to streamline operations in its Traditional Communications segment and push new initiatives for IDT Digital Payments.
IDT
IDT
Forward Guidance
No specific forward guidance was provided in the document.