IDT Corporation Reports Fourth Quarter and Fiscal Year 2025 Results
IDT Corporation (NYSE: IDT) reported strong financial results for Q4 and fiscal year 2025. The company achieved record FY 2025 Adjusted EBITDA of $129 million, up 43% year-over-year. Key highlights include:
For FY 2025: Revenue increased 2% to $1.23 billion, gross profit grew 14% to $446.2 million, and net income rose 18% to $76.1 million. EPS increased to $3.01 from $2.54.
Segment performance showed significant growth: NRS recurring revenue increased 27% to $122.6 million, BOSS Money digital revenue grew 36% to $99 million, and net2phone subscription revenue rose 9% to $85.7 million. The company also repurchased 221,823 shares for $10.1 million during the fiscal year.
IDT Corporation (NYSE: IDT) ha riportato solidi risultati finanziari nel quarto trimestre e nell’esercizio 2025. L’azienda ha raggiunto un record FY 2025 Adjusted EBITDA di $129 milioni, in rialzo del 43% rispetto all’anno precedente. I punti chiave includono:
Per l’FY 2025: i ricavi sono aumentati del 2% a $1,23 miliardi, il gross profit è cresciuto del 14% a $446,2 milioni e l’utile netto è salito dell’18% a $76,1 milioni. L’EPS è aumentato a $3,01 dai $2,54.
La performance dei segmenti ha mostrato una crescita significativa: i ricavi ricorrenti NRS sono aumentati del 27% a $122,6 milioni, i ricavi digitali di BOSS Money sono cresciuti del 36% a $99 milioni, e i ricavi da abbonamento net2phone sono saliti del 9% a $85,7 milioni. L’azienda ha inoltre riacquistato 221.823 azioni per $10,1 milioni durante l’esercizio fiscale.
IDT Corporation (NYSE: IDT) reportó resultados financieros sólidos para el cuarto trimestre y el año fiscal 2025. La empresa logró un FY 2025 Adjusted EBITDA de $129 millones, un 43% más interanual. Los puntos clave incluyen:
Para FY 2025: Los ingresos aumentaron un 2% a $1,23 mil millones, el beneficio bruto creció un 14% a $446,2 millones y el ingreso neto subió un 18% a $76,1 millones. Las ganancias por acción (EPS) subieron a $3,01 desde $2,54.
El rendimiento por segmento mostró un crecimiento significativo: los ingresos recurrentes NRS aumentaron un 27% a $122,6 millones, los ingresos digitales de BOSS Money crecieron un 36% a $99 millones, y los ingresos por suscripción de net2phone subieron un 9% a $85,7 millones. La empresa también recompró 221.823 acciones por $10,1 millones durante el año fiscal.
IDT Corporation (NYSE: IDT)가 2025 회계연도 및 4분기에 대해 강력한 재무 실적을 발표했습니다. 회사는 FY 2025 조정 EBITDA $129백만를 기록하며 전년 대비 43% 증가했습니다. 주요 하이라이트:
FY 2025 기준으로 매출이 2% 증가한 $12.3억, 매출총이익은 14% 증가한 $4.462억, 순이익은 18% 증가한 $7.61천만입니다. 주당순이익(EPS)은 $3.01로 상승했습니다($2.54에서).
부문 실적은 큰 성장을 보였습니다: NRS 재발매 매출이 27% 증가한 $12.26억, BOSS Money 디지털 매출이 36% 증가한 $9900만, net2phone 구독 매출이 9% 증가한 $8570만입니다. 또한 회사는 회계연도 동안 주식 221,823주를 $1010만에 재매입했습니다.
IDT Corporation (NYSE: IDT) a publié des résultats financiers solides pour le quatrième trimestre et l’exercice 2025. L’entreprise a réalisé un FY 2025 Adjusted EBITDA de 129 millions de dollars, en hausse de 43% d’une année sur l’autre. Points forts :
Pour l’exercice 2025 : le chiffre d’affaires a progressé de 2% pour atteindre 1,23 milliard de dollars, la marge brute a crû de 14% pour atteindre 446,2 millions de dollars et le bénéfice net a augmenté de 18% à 76,1 millions de dollars. L’EPS est passé à 3,01 dollars contre 2,54.
La performance par segment montre une croissance significative : les revenus récurrents NRS ont augmenté de 27% à 122,6 millions de dollars, les revenus numériques de BOSS Money ont progressé de 36% à 99 millions de dollars, et les revenus d’abonnement net2phone ont augmenté de 9% à 85,7 millions de dollars. L’entreprise a également racheté 221 823 actions pour 10,1 millions de dollars au cours de l’exercice.
IDT Corporation (NYSE: IDT) hat starke Finanzergebnisse für das vierte Quartal und das Geschäftsjahr 2025 gemeldet. Das Unternehmen erreichte eine Rekord-FY 2025 Adjusted EBITDA von 129 Mio. USD, ein Anstieg von 43% gegenüber dem Vorjahr. Wichtige Highlights umfassen:
Für das FY 2025: Umsatz stieg um 2% auf 1,23 Mrd. USD, Bruttogewinn wuchs um 14% auf 446,2 Mio. USD, und Nettogewinn stieg um 18% auf 76,1 Mio. USD. Der Gewinn je Aktie (EPS) erhöhte sich auf 3,01 USD von 2,54.
Die Segmentleistung zeigte signifikantes Wachstum: NRS wiederkehrender Umsatz stieg um 27% auf 122,6 Mio. USD, BOSS Money Digitalumsatz wuchs um 36% auf 99 Mio. USD, und Net2phone Abonnementumsatz stieg um 9% auf 85,7 Mio. USD. Das Unternehmen hat zudem im Geschäftsjahr 221.823 Aktien im Wert von 10,1 Mio. USD zurückgekauft.
IDT Corporation (NYSE: IDT) أعلنت عن نتائج مالية قوية للربع الرابع والسنة المالية 2025. حققت الشركة FY 2025 Adjusted EBITDA بقيمة 129 مليون دولار، بزيادة قدرها 43% على أساس سنوي. أبرز النقاط:
للسنة المالية 2025: زاد الإيرادات بنسبة 2% لتصل إلى 1.23 مليار دولار، نما إجمالي الربح بنسبة 14% ليصل إلى 446.2 مليون دولار، وارتفع صافي الدخل بنسبة 18% ليصل إلى 76.1 مليون دولار. ارتفع EPS إلى 3.01 دولار من 2.54.
أظهر أداء الأقسام نموًا كبيرًا: ارتفع الإيرادات المتكررة لدى NRS بنسبة 27% لتصل إلى 122.6 مليون دولار، نمت الإيرادات الرقمية لـ BOSS Money بنسبة 36% لتصل إلى 99 مليون دولار، وارتفع إيراد الاشتراك لدى net2phone بنسبة 9% ليصل إلى 85.7 مليون دولار. كما أعادت الشركة شراء 221,823 سهمًا بقيمة 10.1 مليون دولار خلال السنة المالية.
IDT Corporation (NYSE: IDT) 报告了2025年第四季度及全年强劲的财务业绩。公司实现了 FY 2025 调整后EBITDA 1.29亿美元，同比增长43%。要点如下：
对于2025财年：收入同比增长2%至12.3亿美元，毛利增长14%至4.462亿美元，净利润增长18%至7610万美元。每股收益(EPS)上涨至3.01美元，之前为2.54美元。
分部表现显示显著增长：NRS经常性收入同比增长27%至1.226亿美元，BOSS Money数字收入增长36%至9900万美元，net2phone订阅收入增长9%至8570万美元。公司在财年还回购了221,823股，总金额1,010万美元。
- None.
- NRS terminal additions slowed to 5,100 in FY25 vs 6,400 in FY24 due to increased churn
- Traditional Communications revenue declined 4% to $860.2 million
- BOSS Revolution revenue decreased 20% to $211.2 million
Insights
IDT reports strong FY2025 with 43% Adjusted EBITDA growth to record $129M, driven by growth across all segments.
IDT Corporation has delivered exceptional financial performance in both Q4 and fiscal year 2025, with significant improvements across all key business segments. The company achieved record-breaking Adjusted EBITDA of $128.7 million for FY2025, representing a
Breaking down the segments, NRS (National Retail Solutions) continued its strong growth trajectory with recurring revenue increasing
The Traditional Communications segment, despite being a mature business, maintained steady performance with a
IDT's margin expansion is particularly noteworthy, with consolidated gross margin improving by 310 basis points in Q4 to
The company's forward-looking statements suggest continued investment in growth initiatives, particularly in AI capabilities for net2phone and expansion of digital services in BOSS Money, while maintaining a strong balance sheet that supports both organic growth and potential acquisitions.
4Q25 Gross Profit +
4Q25 Income from Operations +
FY 2025 Income from Operations +
4Q25 EPS of
NEWARK, NJ, Sept. 29, 2025 (GLOBE NEWSWIRE) -- IDT Corporation (NYSE: IDT), a global provider of fintech and communications solutions, today reported results for its fourth quarter and full fiscal year 2025, the three and twelve months ended July 31, 2025.
4Q25 HIGHLIGHTS
Throughout this release, unless otherwise noted, results for the fourth quarter of fiscal year 2025 (4Q25) are compared to the fourth quarter of fiscal year 2024 (4Q24) and results for FY 2025 are compared to FY 2024. All earnings per share (EPS) and other ‘per share’ results are per diluted share.
- Key Businesses / Segments
- NRS
- Recurring revenue: +
22% to$32.6 million ; - Income from operations: (3)% to
$5.8 million ; - Adjusted EBITDA: +
32% to$9.3 million ; - ‘Rule of 40’ score: 49;
- Recurring revenue: +
- BOSS Money / Fintech segment
- BOSS Money digital revenue: +
31% to$27.6 million ; - BOSS Money total revenue: +
21% to$38.2 million ; - Fintech segment income from operations: +
88% to$4.8 million ; - Fintech segment Adjusted EBITDA: +
267% to$5.5 million ;
- BOSS Money digital revenue: +
- net2phone
- Subscription revenue: +
8% to$22.2 million (+9% on a constant currency basis); - Income from operations: +
74% to$1.5 million ; - Adjusted EBITDA: +
42% to$3.5 million ;
- Subscription revenue: +
- Traditional Communications
- Gross profit: +
2% to$41.0 million ; - Income from operations: +
11% to$15.4 million ; - Adjusted EBITDA: +
8% to$17.6 million ;
- Gross profit: +
- NRS
- IDT Consolidated
- Revenue: +
3% to$316.6 million ; - Gross profit / margin: +
12% to$114.5 million / +310 bps to36.2% ; - Income from operations: +
9% to$21.9 million ; - Net income attributable to IDT: Decreased to
$16.9 million from$36.8 million . In 4Q24, IDT realized a$23.6 million income tax benefit; - GAAP EPS: Decreased to
$0.67 from$1.45 ; - Non-GAAP EPS: Increased to
$0.76 from$0.57 ; - Adjusted EBITDA: +
33% to$33.4 million .
- Revenue: +
FY 2025 HIGHLIGHTS
- Key Businesses / Segments
- NRS
- Recurring revenue: +
27% to$122.6 million ; - Income from operations: +
28% to$27.8 million ; - Adjusted EBITDA: +
37% to$34.2 million ;
- Recurring revenue: +
- BOSS Money / Fintech Segment
- BOSS Money digital revenue: +
36% to$99.0 million ; - BOSS Money total revenue: +
29% to$139.8 million ; - Fintech Segment income from operations: Increased to
$15.4 million from a loss from operations of$0.1 million ; - Fintech Segment Adjusted EBITDA: Increased to
$18.4 million from$1.1 million ;
- BOSS Money digital revenue: +
- net2phone
- Subscription revenue: +
9% to$85.7 million (+12% on a constant currency basis); - Income from operations: Increased
194% to$4.9 million ; - Adjusted EBITDA: Increased
54% to$12.1 million ;
- Subscription revenue: +
- Traditional Communications
- Gross profit: +
2% to$168.9 million ; - Income from operations: +
18% to$66.5 million - Adjusted EBITDA: +
13% to$75.0 million
- Gross profit: +
- NRS
IDT Consolidated:
- Revenue: +
2% to$1,231.5 million ; - Gross profit / margin: +
14% to$446.2 million / +380 bps to36.2% ; - Income from operations: +
55% to$100.4 million ; - Net income attributable to IDT: +
18% to$76.1 million . In FY 2024, IDT realized a$23.6 million income tax benefit; - GAAP EPS: Increased to
$3.01 from$2.54 ; - Non-GAAP EPS: Increased to
$3.19 from$1.95 ; - Adjusted EBITDA: +
43% to$128.7 million , the highest fiscal year level in IDT history; - Share Repurchases: 221,823 shares of IDT Class B common stock in market transactions for
$10.1 million .
(This release discloses certain Non-GAAP financial measures [Adjusted EBITDA, Non-GAAP EPS, NRS ‘Rule of 40,’ and adjusted net cash provided by operating activities] as well as certain Key Performance Metrics [net2phone subscription revenue, netphone constant currency subscription revenue growth rate, NRS Monthly Average Recurring Revenue, and BOSS Money transactions and digital channel send volume.] Please see the explanations of those measures and metrics, the reasons for their inclusion and reconciliations of non-GAAP measures to their closest GAAP measures at the end of this release.)
REMARKS BY SHMUEL JONAS, CEO
IDT’s fourth quarter capped off a strong fiscal year, highlighted by full-year double-digit Adjusted EBITDA expansion at each of our operating segments, combining to drive a
At NRS, Merchant Services and SaaS Fees revenue drove the topline growth, while NRS’ operating leverage contributed to net margin expansion. In fiscal 2026, we expect that Merchant Services and SaaS fee revenues will again drive increases in revenue per terminal and Adjusted EBITDA.
BOSS Money’s fourth quarter and full year results reflected strong digital channel expansion, which is now contributing over
At net2phone, we are excited by the potential we see in the marketplace of AI agentic offerings and the progress we have made to date in developing and deploying solutions. Already, approximately 1 in 10 of our sales conversations includes an AI agent. In fiscal 2026, we will focus on building out net2phone AI Agent and Coach, our data-driven AI coaching agent, and deploying tailored solutions for specific industry verticals and other opportunities. With this investment, we believe that by year end,
Across IDT, we expect to build on the considerable progress we made during fiscal 2025, with topline growth and stronger cash generation. In all our markets, consumer attitudes, government policy and/or technology are driving rapid change, and we are working hard to capitalize on the exciting opportunities in each of our growth businesses. Backed by the cash on our balance sheet and strengthening financial performance, we will continue to invest in new growth initiatives, evaluate potential bolt-on acquisitions and investments, and return cash to our stockholders through opportunistic buybacks and our quarterly dividend.
4Q25 AND FY 2025 RESULTS BY SEGMENT
National Retail Solutions (NRS)
| National Retail Solutions (NRS) (Terminals and accounts at end of period. $ in millions, except for revenue per terminal) | ||||||||||||||||||||||
| 4Q25 | 3Q25 | 4Q24 | 4Q25-4Q24 (% Δ) | FY25 | FY24 | FY25-FY24 (% Δ) | ||||||||||||||||
| Terminals and payment processing accounts | ||||||||||||||||||||||
| Active POS terminals | 37,200 | 35,600 | 32,100 | 5,100 | ||||||||||||||||||
| Payment processing accounts | 26,500 | 25,500 | 21,300 | 5,200 | ||||||||||||||||||
| Recurring revenue | ||||||||||||||||||||||
| Merchant Services & Other | $ | 21.8 | $ | 19.7 | $ | 16.2 | +34 | % | $ | 76.8 | $ | 54.5 | +41 | % | ||||||||
| Advertising and Data | $ | 6.8 | $ | 5.9 | $ | 7.4 | (8 | )% | $ | 31.1 | $ | 31.2 | (0.3 | )% | ||||||||
| SaaS Fees | $ | 4.1 | $ | 3.9 | $ | 3.1 | +33 | % | $ | 14.7 | $ | 11.2 | +32 | % | ||||||||
| Total recurring revenue | $ | 32.6 | $ | 29.4 | $ | 26.7 | +22 | % | $ | 122.6 | $ | 96.9 | +27 | % | ||||||||
| POS Terminal Sales | $ | 1.7 | $ | 1.7 | $ | 1.6 | +8 | % | $ | 6.2 | $ | 6.3 | (1 | )% | ||||||||
| Total revenue | $ | 34.3 | $ | 31.1 | $ | 28.2 | +22 | % | $ | 128.8 | $ | 103.1 | +25 | % | ||||||||
| Monthly average recurring revenue per terminal | $ | 299 | $ | 279 | $ | 285 | +5 | % | $ | 295 | $ | 279 | +6 | % | ||||||||
| Gross profit | $ | 30.5 | $ | 28.4 | $ | 26.1 | +17 | % | $ | 116.9 | $ | 91.5 | +28 | % | ||||||||
| Gross profit margin | 89 | % | 91 | % | 93 | % | (370) bps | 91 | % | 89 | % | +200 bps | ||||||||||
| Technology & development | $ | 2.3 | $ | 2.3 | $ | 1.8 | +29 | % | $ | 8.7 | $ | 7.1 | +23 | % | ||||||||
| SG&A | $ | 20.0 | $ | 20.0 | $ | 18.2 | +10 | % | $ | 78.0 | $ | 62.7 | +25 | % | ||||||||
| Income from operations | $ | 5.8 | $ | 6.2 | $ | 6.0 | (3 | )% | $ | 27.8 | $ | 21.6 | +28 | % | ||||||||
| Adjusted EBITDA | $ | 9.3 | $ | 7.2 | $ | 7.1 | +32 | % | $ | 34.2 | $ | 25.0 | +37 | % | ||||||||
| CapEx | $ | 1.3 | $ | 1.9 | $ | 1.1 | +15 | % | $ | 5.4 | $ | 3.6 | +49 | % | ||||||||
NRS Take-Aways
- NRS added approximately 1,500 net active terminals and approximately 1,000 net payment processing accounts during 4Q25, including some seasonal customers expected to no longer be active in 1Q26. In FY 2025, NRS added approximately 5,100 net active terminals compared to 6,400 added in FY 2024. Although gross terminal additions increased, such growth was offset by an increase in the rate of churn of NRS’ growing customer base. NRS is working to address churn using AI for churn prediction, a new retention team, enhanced service levels, and new features to improve retailers’ bottom-lines.
- NRS’ recently launched partnership with DoorDash is generating increased order volumes for early-adopting liquor stores in the NRS network. NRS is continuing to sign up other delivery providers to further strengthen this channel.
- NRS Insights, NRS’ data and analytics business, has signed an agreement with one of the leading coupon providers in the U.S. The agreement will enable NRS retailers to offer and promote digital coupons to their customers once the agreement goes operational in CY 2026. NRS Insights’ brand partners will gain a new channel for engaging with NRS’ consumers, while NRS Insights will gain a revenue and profit driver.
BOSS Money and Fintech Segment
| BOSS Money and Fintech Segment (Transactions in millions. $ in millions except for revenue per transaction) | |||||||||||||||||||||||
| 4Q25 | 3Q25 | 4Q24 | 4Q25-4Q24 (% Δ, $) | FY25 | FY24 | FY25-FY24 (% Δ, $) | |||||||||||||||||
| BOSS Money Transactions | 6.6 | 6.0 | 5.4 | +22 | % | 23.9 | 18.3 | +30 | % | ||||||||||||||
| Digital channel | 5.5 | 5.0 | 4.3 | +28 | % | 19.6 | 14.6 | +34 | % | ||||||||||||||
| Retail channel | 1.1 | 1.0 | 1.1 | 0 | % | 4.2 | 3.7 | +14 | % | ||||||||||||||
| Fintech Revenue | |||||||||||||||||||||||
| BOSS Money | $ | 38.2 | $ | 34.4 | $ | 31.5 | +21 | % | $ | 139.8 | $ | 108.3 | +29 | % | |||||||||
| Digital channel | $ | 27.6 | $ | 24.5 | $ | 21.1 | +31 | % | $ | 99.0 | $ | 73.0 | +36 | % | |||||||||
| Retail channel | $ | 10.6 | $ | 9.9 | $ | 10.4 | +2 | % | $ | 40.9 | $ | 35.3 | +16 | % | |||||||||
| Other | $ | 3.9 | $ | 4.2 | $ | 3.2 | +21 | % | $ | 14.8 | $ | 12.4 | +19 | % | |||||||||
| Total Revenue | $ | 42.1 | $ | 38.6 | $ | 34.6 | +21 | % | $ | 154.6 | $ | 120.7 | +28 | % | |||||||||
| Average BOSS Money revenue per transaction | $ | 5.81 | $ | 5.74 | $ | 5.84 | (0.5 | )% | $ | 5.85 | $ | 5.91 | (0.9 | )% | |||||||||
| Gross profit | $ | 24.9 | $ | 22.6 | $ | 19.1 | +30 | % | $ | 90.7 | $ | 67.3 | +35 | % | |||||||||
| Gross profit margin | 59.1 | % | 58.5 | % | 55.2 | % | 390 bps | 58.7 | % | 55.8 | % | 290 bps | |||||||||||
| Technology & development | $ | 2.3 | $ | 2.2 | $ | 2.4 | (7 | )% | $ | 9.1 | $ | 9.5 | (5 | )% | |||||||||
| SG&A | $ | 17.8 | $ | 16.0 | $ | 15.9 | +12 | % | $ | 66.2 | $ | 59.6 | 11 | % | |||||||||
| Income (loss) from operations | $ | 4.8 | $ | 4.3 | $ | 2.5 | +88 | % | $ | 15.4 | $ | (0.1 | ) | + | |||||||||
| Adjusted EBITDA | $ | 5.5 | $ | 5.0 | $ | 1.5 | +267 | % | $ | 18.4 | $ | 1.1 | +1,650 | % | |||||||||
| CapEx | $ | 0.8 | $ | 0.8 | $ | 0.9 | (14 | )% | $ | 3.5 | $ | 3.6 | (4 | )% | |||||||||
BOSS Money and Fintech Take-Aways:
- Digital channel send volume, namely, the amount of principal transferred by BOSS Money customers using the BOSS Money and BOSS Revolution apps, increased by over
40% in 4Q25 and FY 2025, reflecting the increases in transaction volumes and in average dollars sent per transaction. BOSS Money is adjusting its pricing models to capture accretive upside from this trend. - The Fintech segment’s robust income from operations and Adjusted EBITDA growth in 4Q25 and FY 2025 primarily reflect BOSS Money transaction growth, coupled with improved operating leverage as BOSS Money continues to decrease its unit payout and operating costs.
- After achieving the highest average app store rating of the eighteen digital money transfer providers surveyed by FXC Intelligence in its 2025 customer satisfaction ranking, BOSS Money is extending its reach and further enhancing the user experience through an integration with WhatsApp, meeting customers on the dominant channel for cross border communications. The integration, which will launch in the coming weeks, will enable customers to query BOSS Money’s AI agent about destinations and rates, seamlessly initiate money transfers, and check on status of transfers, all from within WhatsApp.
net2phone
| net2phone (Seats in thousands at end of period. $ in millions) | ||||||||||||||||||||||
| 4Q25 | 3Q25 | 4Q24 | 4Q25-4Q24 (% Δ, $) | FY25 | FY24 | FY25-FY24 (% Δ, $) | ||||||||||||||||
| Seats | 422 | 415 | 396 | +6 | % | |||||||||||||||||
| Revenue | ||||||||||||||||||||||
| Subscription revenue | $ | 22.2 | $ | 21.5 | $ | 20.5 | +8 | % | $ | 85.7 | $ | 78.4 | +9 | % | ||||||||
| Other revenue | $ | 0.5 | $ | 0.5 | $ | 0.9 | (36 | )% | $ | 2.1 | $ | 4.0 | (46 | )% | ||||||||
| Total Revenue | $ | 22.8 | $ | 22.0 | $ | 21.4 | +7 | % | $ | 87.9 | $ | 82.3 | +7 | % | ||||||||
| Gross profit | $ | 18.1 | $ | 17.5 | $ | 16.8 | +8 | % | $ | 69.7 | $ | 65.1 | +7 | % | ||||||||
| Gross profit margin | 79.5 | % | 79.6 | % | 78.8 | % | +70 bps | 79.3 | % | 79.1 | % | +20 bps | ||||||||||
| Technology & development | $ | 3.0 | $ | 2.9 | $ | 2.8 | +7 | % | $ | 11.7 | $ | 10.8 | +8 | % | ||||||||
| SG&A | $ | 13.3 | $ | 13.0 | $ | 13.1 | +1 | % | $ | 52.4 | $ | 52.6 | (0.4 | )% | ||||||||
| Income from operations | $ | 1.5 | $ | 1.4 | $ | 0.8 | +74 | % | $ | 4.9 | $ | 1.7 | +194 | % | ||||||||
| Adjusted EBITDA | $ | 3.5 | $ | 3.2 | $ | 2.5 | +42 | % | $ | 12.1 | $ | 7.9 | +54 | % | ||||||||
| CapEx | $ | 1.7 | $ | 1.4 | $ | 1.7 | +5 | % | $ | 6.6 | $ | 6.3 | +4 | % | ||||||||
net2phone Take-Aways:
- Subscription revenue increased by
8% in 4Q25 and by9% in FY 2025. These increases were tempered by the FX impact of a strengthened U.S. dollar versus local currencies in Latin America. On a constant currency basis, subscription revenue increased by9% in 4Q25 and by12% in FY 2025, higher than the rate of seat growth, as net2phone focuses on driving expansion of average revenue per customer. - net2phone’s AI Agent, named a 2025 AI Agent Product of the Year Award winner by TMCnet, is earning strong praise from customers. net2phone’s AI agents are scalable and cost-effective solutions for automating routine operations across sales, support, and administrative functions.
- In fiscal 2026, net2phone will focus on the continued development of its AI coaching agent, Coach, and deployment of customized capabilities for specific market verticals and opportunities. Solutions for the medical and hospitality markets will be among the early releases.
Traditional Communications
| Traditional Communications ($ in millions) | ||||||||||||||||||||||
| 4Q25 | 3Q25 | 4Q24 | 4Q25-4Q24 (% Δ) | FY25 | FY24 | FY25-FY24 (% Δ) | ||||||||||||||||
| Revenue | ||||||||||||||||||||||
| IDT Digital Payments | $ | 107.0 | $ | 102.6 | $ | 106.1 | +0.8 | % | $ | 416.3 | $ | 407.4 | +2 | % | ||||||||
| BOSS Revolution | $ | 49.3 | $ | 51.7 | $ | 62.2 | (21 | )% | $ | 211.2 | $ | 263.2 | (20 | )% | ||||||||
| IDT Global | $ | 55.9 | $ | 50.0 | $ | 50.3 | +11 | % | $ | 209.6 | $ | 201.1 | +4 | % | ||||||||
| Other | $ | 5.3 | $ | 5.8 | $ | 6.0 | (13 | )% | $ | 23.1 | $ | 27.8 | (16.9 | )% | ||||||||
| Total Revenue | $ | 217.4 | $ | 210.2 | $ | 224.6 | (3 | )% | $ | 860.2 | $ | 899.6 | (4 | )% | ||||||||
| Gross profit | $ | 41.0 | $ | 43.4 | $ | 40.1 | +2 | % | $ | 168.9 | $ | 166.2 | +2 | % | ||||||||
| Gross profit margin | 18.8 | % | 20.7 | % | 17.9 | % | +90 bps | 19.6 | % | 18.5 | % | +110 bps | ||||||||||
| Technology & development | $ | 5.3 | $ | 5.4 | $ | 5.5 | (5 | )% | $ | 21.5 | $ | 23.2 | (7 | )% | ||||||||
| SG&A | $ | 19.9 | $ | 20.5 | $ | 20.2 | (1 | )% | $ | 79.9 | $ | 84.9 | (6 | )% | ||||||||
| Income from operations | $ | 15.4 | $ | 17.3 | $ | 13.9 | +11 | % | $ | 66.5 | $ | 56.4 | +18 | % | ||||||||
| Adjusted EBITDA | $ | 17.6 | $ | 19.3 | $ | 16.3 | +8 | % | $ | 75.0 | $ | 66.3 | +13 | % | ||||||||
| CapEx | $ | 1.4 | $ | 1.3 | $ | 1.6 | (11 | )% | $ | 5.3 | $ | 5.3 | (1 | )% | ||||||||
Traditional Communications Take-Aways:
- IDT Digital Payments has launched an eSim digital catalog through its Zendit prepaid platform and in the BOSS Revolution app, thus expanding its large and diversified catalog of prepaid offerings. The eSim catalog targets the large and rapidly growing travel data roaming market, offering over 5,000 plans in 190+ countries.
- In FY 2026, IDT Digital Payments and BOSS Revolution (international prepaid voice calling) will continue to migrate their retail channel customers to its higher margin digital channel. The benefit of this rotation will partially offset the impact of the expected, structural decline in BOSS Revolution and IDT Global carrier revenues.
OTHER FINANCIAL RESULTS
Consolidated results for all periods presented include corporate overhead. Corporate G&A expense increased to
As of July 31, 2025, IDT held
Net cash provided by operating activities in 4Q25 increased to
In FY 2025, net cash provided by operating activities increased to
Capital expenditures were
FY 2026 FINANCIAL OUTLOOK
Effective with IDT’s fiscal 1Q26, the Company will revise its non-GAAP Adjusted EBITDA definition to exclude non-cash compensation expense. Prior period results will be adjusted to the new definition.
The revision is intended to make IDT’s measure of Adjusted EBITDA more directly comparable to those reported by IDT’s peers while more closely reflecting consolidated and segment level cash flows.
IDT expects to generate a range of
IDT’s consolidated non-cash compensation expense was
(Reconciliations of this revised measure of Adjusted EBITDA to net income and income from operations for FY 2025 and FY 2024 are included in the Non-GAAP reconciliations provided at the end of this release.)
DIVIDEND
On September 22, 2025, IDT’s Board of Directors declared a quarterly cash dividend of
IDT EARNINGS ANNOUNCEMENT INFORMATION
This release is available for download in the “Investors & Media” section of the IDT Corporation website (https://www.idt.net/investors-and-media) and has been filed on a current report (Form 8-K) with the SEC.
IDT will host an earnings conference call beginning at 5:30 PM Eastern today with management’s discussion of results followed by Q&A with investors. To listen to the call and participate in the Q&A, dial 1-888-506-0062 (toll-free from the U.S.) or 1-973-528-0011 (international) and provide the following access code: 849358.
A replay of the conference call will be available approximately three hours after the call concludes through October 13, 2025. To access the call replay, dial 1-877-481-4010 (toll-free from the U.S.) or 1-919-882-2331 (international) and provide this replay passcode: 52805. The replay will also be accessible via streaming audio at the IDT investor relations website.
ABOUT IDT CORPORATION
IDT Corporation (NYSE: IDT) is a global provider of fintech and communications solutions through a portfolio of synergistic businesses: National Retail Solutions (NRS), through its point-of-sale (POS) platform, enables independent retailers to operate more effectively while providing advertisers and marketers with unprecedented reach into underserved consumer markets; BOSS Money facilitates innovative international remittances and fintech payments solutions; net2phone provides enterprises and organizations with intelligently integrated cloud communications and contact center services across channels and devices; IDT Digital Payments and the BOSS Revolution calling service make sharing prepaid products and services and speaking with friends and family around the world convenient and reliable; and, IDT Global and IDT Express enable communications services to provision and manage international voice and SMS messaging.
All statements above that are not purely about historical facts, including, but not limited to, those in which we use the words “believe,” “anticipate,” “expect,” “plan,” “intend,” “estimate,” “target” and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent our current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors. Our filings with the SEC provide detailed information on such statements and risks and should be consulted along with this release. To the extent permitted under applicable law, IDT assumes no obligation to update any forward-looking statements.
CONTACT
IDT Corporation Investor Relations
Bill Ulrey
william.ulrey@idt.net
973-438-3838
IDT CORPORATION
CONSOLIDATED BALANCE SHEETS
| July 31 (in thousands, except per share data) | 2025 | 2024 | ||||||
| ASSETS | ||||||||
| CURRENT ASSETS: | ||||||||
| Cash and cash equivalents | $ | 226,505 | $ | 164,557 | ||||
| Restricted cash and cash equivalents | 115,327 | 90,899 | ||||||
| Debt securities | 21,649 | 23,438 | ||||||
| Equity investments | 5,637 | 5,009 | ||||||
| Trade accounts receivable, net of allowance for credit losses of | 42,867 | 42,215 | ||||||
| Settlement assets, net of reserve of | 28,014 | 22,186 | ||||||
| Disbursement prefunding | 37,097 | 30,736 | ||||||
| Prepaid expenses | 14,505 | 17,558 | ||||||
| Other current assets | 28,702 | 25,927 | ||||||
| TOTAL CURRENT ASSETS | 520,303 | 422,525 | ||||||
| Property, plant, and equipment, net | 38,869 | 38,652 | ||||||
| Goodwill | 26,488 | 26,288 | ||||||
| Other intangibles, net | 5,056 | 6,285 | ||||||
| Equity investments | 6,658 | 6,518 | ||||||
| Operating lease right-of-use assets | 1,878 | 3,273 | ||||||
| Deferred income tax assets, net | 18,790 | 35,008 | ||||||
| Other assets | 8,161 | 11,546 | ||||||
| TOTAL ASSETS | $ | 626,203 | $ | 550,095 | ||||
| LIABILITIES, REDEEMABLE NONCONTROLLING INTEREST, AND EQUITY | ||||||||
| CURRENT LIABILITIES: | ||||||||
| Trade accounts payable | $ | 19,435 | $ | 24,773 | ||||
| Accrued expenses | 97,295 | 103,176 | ||||||
| Deferred revenue | 27,726 | 30,364 | ||||||
| Customer funds deposits | 114,708 | 91,893 | ||||||
| Settlement liabilities | 13,922 | 12,764 | ||||||
| Other current liabilities | 19,910 | 16,374 | ||||||
| TOTAL CURRENT LIABILITIES | 292,996 | 279,344 | ||||||
| Operating lease liabilities | 1,103 | 1,533 | ||||||
| Other liabilities | 1,688 | 2,662 | ||||||
| TOTAL LIABILITIES | 295,787 | 283,539 | ||||||
| Commitments and contingencies | ||||||||
| Redeemable noncontrolling interest | 11,459 | 10,901 | ||||||
| EQUITY: | ||||||||
| IDT Corporation stockholders’ equity: | ||||||||
| Preferred stock, $.01 par value; authorized shares—10,000; no shares issued | — | — | ||||||
| Class A common stock, $.01 par value; authorized shares—35,000; 3,272 shares issued and 1,574 shares outstanding at July 31, 2025 and 2024 | 33 | 33 | ||||||
| Class B common stock, $.01 par value; authorized shares—200,000; 28,528 and 28,177 shares issued and 23,656 and 23,684 shares outstanding at July 31, 2025 and 2024, respectively | 285 | 282 | ||||||
| Additional paid-in capital | 308,111 | 303,510 | ||||||
| Treasury stock, at cost, consisting of 1,698 and 1,698 shares of Class A common stock and 4,872 and 4,493 shares of Class B common stock at July 31, 2025 and 2024, respectively | (143,853 | ) | (126,080 | ) | ||||
| Accumulated other comprehensive loss | (16,569 | ) | (18,142 | ) | ||||
| Retained earnings | 157,124 | 86,580 | ||||||
| Total IDT Corporation stockholders’ equity | 305,131 | 246,183 | ||||||
| Noncontrolling interests | 13,826 | 9,472 | ||||||
| TOTAL EQUITY | 318,957 | 255,655 | ||||||
| TOTAL LIABILITIES, REDEEMABLE NONCONTROLLING INTEREST, AND EQUITY | $ | 626,203 | $ | 550,095 | ||||
IDT CORPORATION
CONSOLIDATED STATEMENTS OF INCOME
| Year ended July 31 (in thousands, except per share data) | 2025 | 2024 | 2023 | |||||||||
| REVENUES | $ | 1,231,495 | $ | 1,205,778 | $ | 1,238,854 | ||||||
| DIRECT COST OF REVENUES | 785,300 | 815,621 | 881,614 | |||||||||
| GROSS PROFIT | 446,195 | 390,157 | 357,240 | |||||||||
| OPERATING EXPENSES: | ||||||||||||
| Selling, general and administrative (i) | 287,567 | 270,207 | 243,159 | |||||||||
| Technology and development (i) | 50,964 | 50,554 | 47,988 | |||||||||
| Severance | 898 | 1,698 | 935 | |||||||||
| Other operating expense, net | 6,342 | 2,945 | 4,415 | |||||||||
| TOTAL OPERATING EXPENSES | 345,771 | 325,404 | 296,497 | |||||||||
| Income from operations | 100,424 | 64,753 | 60,743 | |||||||||
| Interest income, net | 6,127 | 4,769 | 3,147 | |||||||||
| Other expense, net | (713 | ) | (7,612 | ) | (3,083 | ) | ||||||
| Income before income taxes | 105,838 | 61,910 | 60,807 | |||||||||
| (Provision for) benefit from income taxes | (24,699 | ) | 6,354 | (16,441 | ) | |||||||
| NET INCOME | 81,139 | 68,264 | 44,366 | |||||||||
| Net income attributable to noncontrolling interests | (5,045 | ) | (3,810 | ) | (3,874 | ) | ||||||
| NET INCOME ATTRIBUTABLE TO IDT CORPORATION | $ | 76,094 | $ | 64,454 | $ | 40,492 | ||||||
| Earnings per share attributable to IDT Corporation common stockholders: | ||||||||||||
| Basic | $ | 3.02 | $ | 2.55 | $ | 1.59 | ||||||
| Diluted | $ | 3.01 | $ | 2.54 | $ | 1.58 | ||||||
| Weighted-average number of shares used in calculation of earnings per share: | ||||||||||||
| Basic | 25,188 | 25,241 | 25,517 | |||||||||
| Diluted | 25,295 | 25,398 | 25,577 | |||||||||
| (i) Stock-based compensation included in total operating expenses | $ | 3,074 | $ | 7,397 | $ | 4,518 | ||||||
IDT CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Year ended July 31 (in thousands) | 2025 | 2024 | 2023 | |||||||||
| OPERATING ACTIVITIES | ||||||||||||
| Net income | $ | 81,139 | $ | 68,264 | $ | 44,366 | ||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||||
| Depreciation and amortization | 21,008 | 20,351 | 20,136 | |||||||||
| Deferred income taxes | 16,217 | (10,907 | ) | 12,601 | ||||||||
| Provision for credit losses, doubtful accounts receivable, and reserve for settlement assets | 7,090 | 4,390 | 2,198 | |||||||||
| Stock-based compensation | 3,074 | 7,397 | 4,518 | |||||||||
| Other | 2,199 | 4,579 | 6,543 | |||||||||
| Changes in assets and liabilities: | ||||||||||||
| Trade accounts receivable | (6,459 | ) | (12,701 | ) | 4,726 | |||||||
| Settlement assets, disbursement prefunding, prepaid expenses, other current assets, and other assets | (8,556 | ) | 12,735 | (17,503 | ) | |||||||
| Trade accounts payable, accrued expenses, settlement liabilities, other current liabilities, and other liabilities | (4,814 | ) | (9,081 | ) | (21,001 | ) | ||||||
| Customer funds deposits | 19,235 | (1,820 | ) | (2,152 | ) | |||||||
| Deferred revenue | (3,072 | ) | (5,016 | ) | (2,029 | ) | ||||||
| Net cash provided by operating activities | 127,061 | 78,191 | 52,403 | |||||||||
| INVESTING ACTIVITIES | ||||||||||||
| Capital expenditures | (20,770 | ) | (18,922 | ) | (21,958 | ) | ||||||
| Notes receivable from equity method investment | (1,900 | ) | — | — | ||||||||
| Purchase of convertible preferred stock in equity method investment | (926 | ) | (2,017 | ) | (840 | ) | ||||||
| Purchases of debt securities and equity investments | (33,453 | ) | (29,921 | ) | (59,872 | ) | ||||||
| Proceeds from maturities and sales of debt securities and redemption of equity investments | 36,310 | 50,112 | 49,211 | |||||||||
| Net cash used in investing activities | (20,739 | ) | (748 | ) | (33,459 | ) | ||||||
| FINANCING ACTIVITIES | ||||||||||||
| Dividends paid | (5,550 | ) | (2,536 | ) | — | |||||||
| Distributions to noncontrolling interests | (100 | ) | (112 | ) | (348 | ) | ||||||
| Proceeds from borrowings under revolving credit facility | 24,551 | 32,864 | 27,383 | |||||||||
| Repayments of borrowings under revolving credit facility | (24,551 | ) | (32,864 | ) | (27,383 | ) | ||||||
| Purchase of restricted shares of net2phone and National Retail Solutions common stock | — | (4,131 | ) | — | ||||||||
| Proceeds from exercise of stock options | — | 172 | 172 | |||||||||
| Repurchases of Class B common stock | (17,773 | ) | (10,619 | ) | (13,896 | ) | ||||||
| Net cash used in financing activities | (23,423 | ) | (17,226 | ) | (14,072 | ) | ||||||
| Effect of exchange rate changes on cash, cash equivalents, and restricted cash and cash equivalents | 3,477 | (3,584 | ) | 4,389 | ||||||||
| Net increase in cash, cash equivalents, and restricted cash and cash equivalents | 86,376 | 56,633 | 9,261 | |||||||||
| Cash, cash equivalents, and restricted cash and cash equivalents at beginning of year | 255,456 | 198,823 | 189,562 | |||||||||
| Cash, cash equivalents, and restricted cash and cash equivalents at end of year | $ | 341,832 | $ | 255,456 | $ | 198,823 | ||||||
| SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION | ||||||||||||
| Cash payments made for interest | $ | 110 | $ | 429 | $ | 536 | ||||||
| Cash payments made for income taxes | $ | 279 | $ | 527 | $ | 777 | ||||||
| SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES | ||||||||||||
| Value of the Company’s Class B common stock exchanged for National Retail Solutions shares | $ | 442 | $ | 6,696 | $ | — | ||||||
| Conversion of equity method investment’s secured promissory notes into convertible preferred stock | $ | — | $ | — | $ | 4,038 | ||||||
| Shares of the Company’s Class B common stock issued to certain executive officers for bonus payments | $ | 1,824 | $ | 1,494 | $ | 615 | ||||||
| Shares of the Company’s Class B common stock issued for business acquisitions | $ | 100 | $ | 100 | ||||||||
Reconciliation of Non-GAAP Financial Measures for the Fourth Quarter and Full Fiscal Years 2025 and 2024
In addition to disclosing financial results that are determined in accordance with generally accepted accounting principles in the United States of America (GAAP), IDT also disclosed (a) Adjusted EBITDA for 4Q25, 3Q25, 4Q24, and the full fiscal years 2025 and 2024, (b) non-GAAP earnings per diluted share (Non-GAAP EPS) for 4Q25, 4Q24, and the full fiscal years 2025 and 2024, (c) NRS’ ‘Rule of 40’ score for 4Q25, and (d) non-GAAP adjusted net cash provided by operating activities for 4Q25, 4Q24 and the full fiscal years 2025 and 2024. These are non-GAAP financial measures intended to provide useful information that supplements IDT’s or the relevant segment’s results in accordance with GAAP. The following explains these terms and their respective reconciliations to the most directly comparable GAAP measures.
Generally, a non-GAAP measure is a numerical measure of a company’s performance, financial position, or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with GAAP.
IDT’s measure of Non-GAAP EPS is calculated by dividing non-GAAP net income by the diluted weighted-average shares. IDT’s measure of non-GAAP net income starts with net income attributable to IDT in accordance with GAAP and adds severance expense, stock-based compensation, and other operating expenses, and deducts other operating gains. These additions and subtractions are non-cash and/or non-routine items in the relevant fiscal 2025 and fiscal 2024 periods.
Management believes that IDT’s Adjusted EBITDA and Non-GAAP EPS are measures which provide useful information to both management and investors by excluding certain expenses and non-routine gains and losses that may not be indicative of IDT’s or the relevant segment’s core operating results. Management uses Adjusted EBITDA, among other measures, as a relevant indicator of core operational strengths in its financial and operational decision making. In addition, management uses Adjusted EBITDA and Non-GAAP EPS to evaluate operating performance in relation to IDT’s competitors. Disclosure of these financial measures may be useful to investors in evaluating performance and allow for greater transparency of the underlying supplemental information used by management in its financial and operational decision-making. In addition, IDT has historically reported similar financial measures and believes such measures are commonly used by readers of financial information in assessing performance, therefore the inclusion of comparative numbers provides consistency in financial reporting.
Management refers to Adjusted EBITDA, as well as the GAAP measures income (loss) from operations and net income, on a segment and/or consolidated level to facilitate internal and external comparisons to the segments’ and IDT's historical operating results, in making operating decisions, for budget and planning purposes, and to form the basis upon which management is compensated.
While depreciation and amortization are considered operating costs under GAAP, these expenses primarily represent the non-cash current period allocation of costs associated with long-lived assets acquired or capitalized in prior periods. IDT’s Adjusted EBITDA, which is exclusive of depreciation and amortization, is a useful indicator of its current performance.
Severance expense is excluded from the calculation of Adjusted EBITDA and Non-GAAP EPS. Severance expense is reflective of decisions made by management in each period regarding the aspects of IDT’s and its segments’ businesses to be focused on in light of changing market realities and other factors. While there may be similar charges in other periods, the nature and magnitude of these charges can fluctuate markedly and do not reflect the performance of IDT’s core and continuing operations.
Other operating expense, net, which is a component of income (loss) from operations, is excluded from the calculation of Adjusted EBITDA and Non-GAAP EPS. Other operating expense, net primarily includes legal fees net of insurance claims related to Straight Path Communications Inc.’s stockholders’ class action and gains from the write-off of contingent consideration liabilities. From time-to-time, IDT may have gains or incur costs related to non-routine legal, tax, and other matters, however, these various items generally do not occur each quarter. IDT believes the gain and losses from these non-routine matters are not components of IDT’s or the relevant segment’s core operating results.
Stock-based compensation recognized by IDT and other companies may not be comparable because of the variety of types of awards as well as the various valuation methodologies and subjective assumptions that are permitted under GAAP. Stock-based compensation is excluded from IDT’s calculation of Non-GAAP EPS because management believes this allows investors to make more meaningful comparisons of the operating results per share of IDT’s core business with the results of other companies. However, stock-based compensation will continue to be a significant expense for IDT for the foreseeable future and an important part of employees’ compensation that impacts their performance.
In 4Q25, IDT decreased its deferred income tax valuation allowance due to profitability in the United Kingdom and recorded an income tax benefit of
Adjusted EBITDA and Non-GAAP EPS should be considered in addition to, not as a substitute for, or superior to, income (loss) from operations, cash flow from operating activities, net income, basic and diluted earnings per share or other measures of liquidity and financial performance prepared in accordance with GAAP. In addition, IDT’s measurements of Adjusted EBITDA and Non-GAAP EPS may not be comparable to similarly titled measures reported by other companies.
The ‘Rule of 40’ score is a metric used to evaluate the performance of SaaS providers. It postulates that a SaaS provider’s revenue growth rate plus its EBITDA margin should equal or exceed 40 percent. The ‘Rule of 40’ is typically used to assess a company's balance between growth and profitability. A total of over 40 is thought to indicate a healthy combination of expansion and financial stability, making it a useful tool for management and investors to gauge the potential for long-term success and make informed decisions about resource allocation and business strategy.
NRS’ ‘Rule of 40’ score is computed by adding (a) the growth rate of NRS’ recurring revenue for the relevant period compared to the corresponding year ago period to (b) NRS’ Adjusted EBITDA margin for the twelve-month period through the end of the current period. NRS’ recurring revenue is calculated by subtracting NRS’ revenue from POS terminal sales from its total GAAP revenue. Adjusted EBITDA is a non-GAAP measure as discussed above. Adjusted EBITDA margin is calculated by dividing Adjusted EBITDA by GAAP revenue for the relevant period.
IDT’s Non-GAAP adjusted measure of net cash provided by operating activities is calculated by excluding the impact of changes in customer deposits from net cash provided by operating activities. This measure provides a more meaningful measure of the cash generated by our core business operations, making it a more useful tool for management and investors to evaluate the cash generation of our business operations, and to compare IDT’s cash generation with companies that do not have, or have different levels of, customer deposits. Customer deposits are, by regulation, not available to fund IDT’s operating activities.
Following are reconciliations of Adjusted EBITDA and Non-GAAP EPS to the most directly comparable GAAP measure, which are, (a) for Adjusted EBITDA, (i) income (loss) from operations for IDT’s reportable segments and (ii) net income for IDT on a consolidated basis, and (b) for Non-GAAP EPS, diluted earnings per share. Also following is NRS’ ‘Rule of 40’ score computation including the reconciliation of NRS’ Adjusted EBITDA to the most directly comparable GAAP measure, NRS’ income from operations, and IDT’s Non-GAAP adjusted measure of net cash provided by operating activities reconciled to GAAP net cash provided by operating activities.
| IDT Corporation Reconciliation of Net Income to Adjusted EBITDA for 4Q25, 3Q25, and 4Q24 (unaudited) in millions. Figures may not foot or cross-foot due to rounding |
| Total IDT Corporation | Traditional Comm. | net2phone | NRS | Fintech | Corporate | |||||||||||||||||||
| Three Months Ended July 31, 2025 (4Q25) | ||||||||||||||||||||||||
| Net income attributable to IDT Corporation | $ | 16.9 | ||||||||||||||||||||||
| Adjustments: | ||||||||||||||||||||||||
| Net income attributable to noncontrolling interests | 0.6 | |||||||||||||||||||||||
| Net income | 17.5 | |||||||||||||||||||||||
| Provision for income taxes | 2.9 | |||||||||||||||||||||||
| Income before income taxes | 20.4 | |||||||||||||||||||||||
| Interest income, net | (1.8 | ) | ||||||||||||||||||||||
| Other expense, net | 3.2 | |||||||||||||||||||||||
| Income (loss) from operations | 21.9 | $ | 15.4 | $ | 1.5 | $ | 5.8 | $ | 4.8 | $ | (5.7 | ) | ||||||||||||
| Depreciation and amortization | 5.3 | 1.8 | 1.6 | 1.1 | 0.7 | - | ||||||||||||||||||
| Other operating expense, net | 5.9 | 0.2 | 0.2 | 2.4 | - | 3.1 | ||||||||||||||||||
| Severance expense | 0.3 | 0.1 | 0.1 | - | - | - | ||||||||||||||||||
| Adjusted EBITDA | $ | 33.4 | $ | 17.6 | $ | 3.5 | $ | 9.3 | $ | 5.5 | $ | (2.5 | ) | |||||||||||
| Total IDT Corporation | Traditional Comm. | net2phone | NRS | Fintech | Corporate | |||||||||||||||||||
| Three Months Ended April 30, 2025 (3Q25) | ||||||||||||||||||||||||
| Net income attributable to IDT Corporation | $ | 21.7 | ||||||||||||||||||||||
| Adjustments: | ||||||||||||||||||||||||
| Net income attributable to noncontrolling interests | 1.3 | |||||||||||||||||||||||
| Net income | 23.0 | |||||||||||||||||||||||
| Provision for income taxes | 7.8 | |||||||||||||||||||||||
| Income before income taxes | 30.8 | |||||||||||||||||||||||
| Interest income, net | (1.6 | ) | ||||||||||||||||||||||
| Other income, net | (2.6 | ) | ||||||||||||||||||||||
| Income (loss) from operations | 26.6 | $ | 17.3 | $ | 1.4 | $ | 6.2 | $ | 4.3 | $ | (2.6 | ) | ||||||||||||
| Depreciation and amortization | 5.2 | 1.9 | 1.6 | 1.0 | 0.7 | - | ||||||||||||||||||
| Other operating expense, net | 0.2 | - | 0.2 | - | - | - | ||||||||||||||||||
| Severance expense | 0.2 | 0.2 | - | - | - | - | ||||||||||||||||||
| Adjusted EBITDA | $ | 32.2 | $ | 19.3 | $ | 3.2 | $ | 7.2 | $ | 5.0 | $ | (2.6 | ) | |||||||||||
| Total IDT Corporation | Traditional Comm. | net2phone | NRS | Fintech | Corporate | |||||||||||||||||||
| Three Months Ended July 31, 2024 (4Q24) | ||||||||||||||||||||||||
| Net income attributable to IDT Corporation | $ | 36.8 | ||||||||||||||||||||||
| Adjustments: | ||||||||||||||||||||||||
| Net income attributable to noncontrolling interests | 0.9 | |||||||||||||||||||||||
| Net income | 37.7 | |||||||||||||||||||||||
| Benefit from income taxes | (17.3 | ) | ||||||||||||||||||||||
| Income before income taxes | 20.4 | |||||||||||||||||||||||
| Interest income, net | (1.6 | ) | ||||||||||||||||||||||
| Other expense, net | 1.3 | |||||||||||||||||||||||
| Income (loss) from operations | 20.1 | $ | 13.9 | $ | 0.8 | $ | 6.0 | $ | 2.5 | $ | (3.2 | ) | ||||||||||||
| Depreciation and amortization | 5.1 | 1.9 | 1.6 | 0.9 | 0.7 | - | ||||||||||||||||||
| Severance expense | - | 0.3 | - | - | - | (0.3 | ) | |||||||||||||||||
| Other operating (gains) expense, net | (0.1 | ) | 0.2 | - | 0.2 | (1.8 | ) | 1.3 | ||||||||||||||||
| Adjusted EBITDA | $ | 25.2 | $ | 16.3 | $ | 2.5 | $ | 7.1 | $ | 1.5 | $ | (2.2 | ) | |||||||||||
IDT Corporation
Reconciliation of Net Income to Adjusted EBITDA for FY 2025 and FY 2024
(unaudited) in millions. Figures may not foot or cross-foot due to rounding
| Total IDT Corporation | Traditional Communica-tions | net2phone | NRS | Fintech | Corporate | |||||||||||||||||||
| Year Ended July 31, 2025 (FY 2025) | ||||||||||||||||||||||||
| Net income attributable to IDT Corporation | $ | 76.1 | ||||||||||||||||||||||
| Adjustments: | ||||||||||||||||||||||||
| Net income attributable to noncontrolling interests | 5.0 | |||||||||||||||||||||||
| Net income | 81.1 | |||||||||||||||||||||||
| Provision for income taxes | 24.7 | |||||||||||||||||||||||
| Income before income taxes | 105.8 | |||||||||||||||||||||||
| Interest income, net | (6.1 | ) | ||||||||||||||||||||||
| Other expense, net | 0.7 | |||||||||||||||||||||||
| Income (loss) from operations | 100.4 | $ | 66.5 | $ | 4.9 | $ | 27.8 | $ | 15.4 | $ | (14.2 | ) | ||||||||||||
| Depreciation and amortization | 21.0 | 7.6 | 6.4 | 4.1 | 2.9 | 0.1 | ||||||||||||||||||
| Severance | 0.9 | 0.7 | 0.1 | - | - | - | ||||||||||||||||||
| Other operating expense, net | 6.3 | 0.2 | 0.6 | 2.4 | - | 3.1 | ||||||||||||||||||
| Adjusted EBITDA | $ | 128.7 | $ | 75.0 | $ | 12.1 | $ | 34.2 | $ | 18.4 | $ | (11.1 | ) | |||||||||||
| Total IDT Corporation | Traditional Communica-tions | net2phone | NRS | Fintech | Corporate | |||||||||||||||||||
| Year Ended July 31, 2024 (FY 2024) | ||||||||||||||||||||||||
| Net income attributable to IDT Corporation | $ | 64.5 | ||||||||||||||||||||||
| Adjustments: | ||||||||||||||||||||||||
| Net income attributable to noncontrolling interests | 3.8 | |||||||||||||||||||||||
| Net income | 68.3 | |||||||||||||||||||||||
| Benefit from income taxes | (6.4 | ) | ||||||||||||||||||||||
| Income before income taxes | 61.9 | |||||||||||||||||||||||
| Interest income, net | (4.8 | ) | ||||||||||||||||||||||
| Other expense, net | 7.6 | |||||||||||||||||||||||
| Income (loss) from operations | 64.8 | $ | 56.4 | $ | 1.7 | $ | 21.6 | $ | (0.1 | ) | $ | (14.9 | ) | |||||||||||
| Depreciation and amortization | 20.4 | 8.1 | 6.1 | 3.2 | 2.9 | 0.1 | ||||||||||||||||||
| Severance | 1.7 | 1.6 | 0.1 | - | - | - | ||||||||||||||||||
| Other operating expense (gains), net | 2.9 | 0.2 | (0.1 | ) | 0.2 | (1.8 | ) | 4.4 | ||||||||||||||||
| Adjusted EBITDA | $ | 89.7 | $ | 66.3 | $ | 7.9 | $ | 25.0 | $ | 1.1 | $ | (10.4 | ) | |||||||||||
IDT Corporation
Reconciliation of Net Income to Revised Adjusted EBITDA for FY 2025 and FY 2024
(unaudited) in millions. Figures may not foot or cross-foot due to rounding
Beginning in fiscal 2026, IDT will include stock-based compensation expense in its calculation of Adjusted EBITDA. Accordingly, the Adjusted EBITDA presented below reflects this revised measure.
| Total IDT Corporation | Traditional Communica-tions | net2phone | NRS | Fintech | Corporate | |||||||||||||||||||
| Year Ended July 31, 2025 (FY 2025) | ||||||||||||||||||||||||
| Net income attributable to IDT Corporation | $ | 76.1 | ||||||||||||||||||||||
| Adjustments: | ||||||||||||||||||||||||
| Net income attributable to noncontrolling interests | 5.0 | |||||||||||||||||||||||
| Net income | 81.1 | |||||||||||||||||||||||
| Provision for income taxes | 24.7 | |||||||||||||||||||||||
| Income before income taxes | 105.8 | |||||||||||||||||||||||
| Interest income, net | (6.1 | ) | ||||||||||||||||||||||
| Other expense, net | 0.7 | |||||||||||||||||||||||
| Income (loss) from operations | 100.4 | $ | 66.5 | $ | 4.9 | $ | 27.8 | $ | 15.4 | $ | (14.2 | ) | ||||||||||||
| Depreciation and amortization | 21.0 | 7.6 | 6.4 | 4.1 | 2.9 | 0.1 | ||||||||||||||||||
| Stock-based compensation | 3.1 | 1.4 | - | 1.1 | 0.2 | 0.4 | ||||||||||||||||||
| Severance | 0.9 | 0.7 | 0.1 | - | - | - | ||||||||||||||||||
| Other operating expense, net | 6.3 | 0.2 | 0.6 | 2.4 | - | 3.1 | ||||||||||||||||||
| Adjusted EBITDA | $ | 131.7 | $ | 76.4 | $ | 12.1 | $ | 35.7 | $ | 18.5 | $ | (10.6 | ) | |||||||||||
| Total IDT Corporation | Traditional Communica-tions | net2phone | NRS | Fintech | Corporate | ||||||||||||||||||||
| Year Ended July 31, 2024 (FY 2024) | |||||||||||||||||||||||||
| Net income attributable to IDT Corporation | $ | 64.5 | |||||||||||||||||||||||
| Adjustments: | |||||||||||||||||||||||||
| Net income attributable to noncontrolling interests | 3.8 | ||||||||||||||||||||||||
| Net income | 68.3 | ||||||||||||||||||||||||
| Provision for income taxes | (6.4 | ) | |||||||||||||||||||||||
| Income before income taxes | 61.9 | ||||||||||||||||||||||||
| Interest income, net | (4.8 | ) | |||||||||||||||||||||||
| Other expense, net | 7.6 | ||||||||||||||||||||||||
| Income (loss) from operations | 64.8 | $ | 56.4 | $ | 1.7 | $ | 21.6 | $ | (0.1 | ) | $ | (14.9 | ) | ||||||||||||
| Depreciation and amortization | 21.4 | 8.1 | 6.1 | 3.2 | 2.9 | 0.1 | |||||||||||||||||||
| Stock-based compensation | 7.4 | 5.4 | - | 1.2 | 0.3 | 0.5 | |||||||||||||||||||
| Severance | 1.7 | 1.6 | 0.1 | - | - | - | |||||||||||||||||||
| Other operating expense (gains), net | 2.9 | 0.2 | (0.1 | ) | 0.2 | (1.8 | ) | 4.4 | |||||||||||||||||
| Adjusted EBITDA | $ | 97.1 | $ | 7 1.7 | $ | 7.9 | $ | 26.2 | $ | 1.3 | $ | (9.9 | ) | ||||||||||||
IDT Corporation
Reconciliation of Earnings Per Share (EPS) to Non-GAAP EPS for 4Q25, 4Q24, FY 2025 and FY 2024
(unaudited) in millions, except per share data. Figures may not foot due to rounding
| 4Q25 | 4Q24 | FY 2025 | FY 2024 | |||||||||||||
| Net income attributable to IDT Corporation | $ | 16.9 | $ | 36.8 | $ | 76.1 | $ | 64.5 | ||||||||
| Adjustments (add) subtract: | ||||||||||||||||
| Income tax benefit | 3.3 | 23.6 | 3.3 | 23.6 | ||||||||||||
| Stock-based compensation | (0.4 | ) | (2.0 | ) | (3.1 | ) | (7.4 | ) | ||||||||
| Severance expense | (0.3 | ) | (0.1 | ) | (0.9 | ) | (1.7 | ) | ||||||||
| Other operating (expense) gain, net | (5.9 | ) | 0.1 | (6.3 | ) | (2.9 | ) | |||||||||
| Total adjustments | (3.3 | ) | 21.6 | (7.0 | ) | 11.6 | ||||||||||
| Income tax effect of total adjustments | (0.9 | ) | (0.6 | ) | (2.3 | ) | (3.4 | ) | ||||||||
| 2.4 | (22.2 | ) | 4.7 | (15.0 | ) | |||||||||||
| Non-GAAP net income | $ | 19.3 | $ | 14.6 | $ | 80.8 | $ | 49.5 | ||||||||
| Earnings per share: | ||||||||||||||||
| Basic | $ | 0.67 | $ | 1.46 | $ | 3.02 | $ | 2.55 | ||||||||
| Total adjustments | 0.09 | (0.88 | ) | 0.18 | (0.59 | ) | ||||||||||
| Non-GAAP - basic | $ | 0.76 | $ | 0.58 | $ | 3.20 | $ | 1.96 | ||||||||
| Weighted-average number of shares used in calculation of basic earnings per share | 25.2 | 25.3 | 25.2 | 25.2 | ||||||||||||
| Diluted | $ | 0.67 | $ | 1.45 | $ | 3.01 | $ | 2.54 | ||||||||
| Total adjustments | 0.09 | (0.88 | ) | 0.18 | (0.59 | ) | ||||||||||
| Non-GAAP - diluted | $ | 0.76 | $ | 0.57 | $ | 3.19 | $ | 1.95 | ||||||||
| Weighted-average number of shares used in calculation of diluted earnings per share | 25.2 | 25.4 | 25.3 | 25.4 | ||||||||||||
IDT Corporation
NRS’ ‘Rule of 40’ Score
For 4Q25
(unaudited) in millions. Figures may not foot due to rounding to millions
| 1Q25 | 2Q25 | 3Q25 | 4Q25 | Trailing Twelve Months (TTM) 4Q25 | ||||||||||||||||
| Reconciliation of NRS’ Income from Operations to Adjusted EBITDA | ||||||||||||||||||||
| Income from operations | $ | 6.6 | $ | 9.1 | $ | 6.2 | $ | 5.8 | $ | 27.8 | ||||||||||
| Depreciation and amortization | 1.0 | 1.0 | 1.0 | 1.1 | 4.1 | |||||||||||||||
| Other operating expense, net | - | - | - | 2.4 | 2.4 | |||||||||||||||
| Adjusted EBITDA | $ | 7.6 | $ | 10.1 | $ | 7.2 | $ | 9.3 | $ | 34.2 | ||||||||||
| 4Q25 | 4Q24 | |||||||
| NRS’ ‘Rule of 40’ Score | ||||||||
| NRS recurring revenue | $ | 32.6 | $ | 26.7 | ||||
| NRS other revenue | 1.7 | 1.6 | ||||||
| NRS total revenue | $ | 34.3 | $ | 28.2 | ||||
| NRS recurring revenue growth rate | 22 | % | ||||||
| NRS TTM Adjusted EBITDA from above | $ | 34.2 | ||||||
| NRS TTM total revenue | 128.8 | |||||||
| NRS TTM Adjusted EBITDA margin | 27 | % | ||||||
| Rule of 40 | 49 | % | ||||||
IDT Corporation
Adjusted net cash provided by operating activities for 4Q25, 4Q24, FY 2025 and FY 2024
(unaudited) in millions. Figures may not foot due to rounding to millions
| (in millions) Three months ended July 31 | 2025 | 2024 | ||||||
| Net cash provided by operating activities (GAAP) | $ | 31.0 | $ | 25.4 | ||||
| Changes in customer deposits | 6.1 | 3.1 | ||||||
| Adjusted net cash provided by operating activities (non-GAAP) | $ | 37.1 | $ | 28.5 | ||||
| (in millions) Full year ended July 31 | 2025 | 2024 | ||||||
| Net cash provided by operating activities (GAAP) | $ | 127.1 | $ | 78.2 | ||||
| Changes in customer deposits | (19.2 | ) | 3.4 | |||||
| Adjusted net cash provided by operating activities (non-GAAP) | $ | 107.8 | $ | 81.6 | ||||
Explanation of Key Performance Metrics
net2phone’s subscription revenue is calculated by subtracting net2phone’s equipment revenue and revenue generated by a legacy SIP trunking offering in Brazil from its revenue in accordance with GAAP. net2phone’s cloud communications and contact center offerings are priced on a per-seat basis, with customers paying based on the number of users in their organization. The number of seats served and subscription revenue trends and comparisons between periods are used in the analysis of net2phone’s revenues and direct cost of revenues and are strong indications of the top-line growth and performance of the business.
Constant currency as it relates to revenue provides a framework for assessing net2phone’s performance that excludes the effect of foreign currency rate fluctuations. To determine net2phone’s subscription revenue growth on a constant currency basis, current period revenues from entities reporting in currencies other than U.S. Dollars (USD) were converted to USD at the average monthly exchange rates in effect during the prior fiscal year’s comparative period instead of the average monthly exchange rates in effect during the current period.
NRS’ Monthly Average Recurring Revenue per Terminal is calculated by dividing NRS’ recurring revenue as defined in the Reconciliation of Non-GAAP Financial Measures by the average number of active POS terminals during the period. The average number of active POS terminals is calculated by adding the beginning and ending number of active POS terminals during the period and dividing by two. NRS’ recurring revenue divided by the average number of active POS terminals is divided by three when the period is a fiscal quarter. Recurring revenue and Monthly Average Recurring Revenue per Terminal are useful for comparisons of NRS’ revenue and revenue per customer to prior periods and to competitors and others in the market, as well as for forecasting future revenue from the customer base.
BOSS Money transactions are a nonfinancial metric that measures customer usage during a reporting period. BOSS Money’s digital send volume is the aggregate amount of principal remitted by BOSS Money’s digital customers – those using the BOSS Money and BOSS Revolutions apps to originate remittances. Digital send volume is a key metric for evaluating the operational performance of the digital channel of the remittance business, and for comparing the performance of BOSS Money’s digital channel to competitors in the remittance business as well as to performance to other temporal periods.
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FAQ
What were IDT Corporation's (NYSE: IDT) key financial results for FY 2025?
How did IDT's BOSS Money digital business perform in fiscal 2025?
What was IDT's NRS (National Retail Solutions) segment performance in FY 2025?
How much did IDT spend on share repurchases in FY 2025?
What is IDT's outlook for fiscal 2026?
