Welcome to our dedicated page for IDT news (Ticker: IDT), a resource for investors and traders seeking the latest updates and insights on IDT stock.
IDT Corporation reports developments across a portfolio of fintech and communications businesses. Recurring updates include financial results for segments such as National Retail Solutions, Fintech, net2phone and Traditional Communications, as well as capital-return actions including dividends and share repurchases.
Company news also covers National Retail Solutions’ point-of-sale platform for independent retailers, NRSInsights retail same-store sales reports, BOSS Money international remittance and payments services, and net2phone cloud communications, customer experience and AI-driven workflow offerings. Additional releases address product launches, investor presentations, prepaid services, international voice and SMS messaging, and digital payment activity.
IDT Corporation (NYSE: IDT) will be presenting at the LD Micro Main Event XV investor conference on October 25, 2022, at 11 AM ET in Los Angeles, CA. CEO Shmuel Jonas is set to discuss the company's operations, strategy, and financial results for the fiscal year ending July 31, 2022. Investors can attend virtually or in person, with registration available online. A presentation deck will also be accessible on the IDT Corporation investor relations website.
Consumer spending at NRS retailers increased 9.5% year-over-year in September 2022, but decreased 1.2% from August 2022. NRS, serving over 20,000 terminals across independent retailers, indicated a 8.3% year-to-date sales rise. Transaction volumes increased by 5.5% year-over-year. However, inflationary pressures are affecting demand, with a 3.6% rise in average prices for top items. NRS data correlates strongly with U.S. Commerce Department data, providing insights into retail trends.
IDT Corporation (NYSE: IDT) announced strong results for 4Q22 and FY2022, highlighting record income from operations and Adjusted EBITDA. The fintech and cloud communications sectors drove this growth, with recurring revenue from National Retail Solutions increasing 157% to $17.7 million in 4Q22. Despite a 16% drop in consolidated revenue to $329 million due to declines in traditional communications, income from operations rose 13% to $19.2 million. Net income fell significantly to $17.2 million, influenced by prior tax valuation reversals and unrealized losses on investments.
IDT Corporation (NYSE: IDT) has announced it will release its financial results for the fourth quarter and fiscal year 2022 on October 6, 2022. The earnings release will be available on the company's investor relations website at 4:30 PM Eastern. Following the release, IDT will host a conference call at 5:30 PM Eastern where management will discuss the results, outlook, and strategy. Interested parties can participate by calling the provided numbers. A replay will be available shortly after the call until October 20, 2022.
IDT Corporation has partnered with United Bank for Africa (UBA) to facilitate U.S. dollar transfers directly to over 20 million UBA accounts in Nigeria. BOSS Money customers can send money quickly, with transfers starting at $3.99 for amounts up to $100. This collaboration aims to enhance customer convenience and expand remittance options. BOSS Money currently supports transfers to 50 countries via numerous agents, enhancing financial connectivity for families and businesses across borders.
NRSInsights announced that August 2022 same-store sales increased by 6.4% compared to August 2021 but fell 3.3% from July 2022. Year-to-date same-store sales are up 8.4%, and for the three months ending August 31, 2022, they rose 9.2%. Although sales compared to the previous month declined, certain categories like school supplies showed growth. Inflation appears to be easing, with average prices for popular items increasing 2.3% compared to the 2.9% rise in July 2022. NRS operates over 19,000 terminals across the U.S.
net2phone, a cloud communications provider and a subsidiary of IDT, has been recognized as a growth and innovation leader by Frost & Sullivan in the Frost Radar™: Unified Communications as a Service Market in Latin America and the Caribbean, 2022 report. The report praises net2phone for its strong market share, diverse client portfolio, and collaborative development model. President Jonah Fink expressed satisfaction with this recognition, emphasizing the company's focus on enhancing hybrid work environments and meeting the growing demand for contact-center solutions.
National Retail Solutions and Bringg are set to present at Home Delivery World 2022 on August 31, focusing on enhancing last-mile delivery accessibility. The presentation will be led by Elie Y. Katz, CEO of National Retail Solutions, and Daniela Perlmutter, SVP of Bringg. They aim to discuss industry strategies for expanding participation in last-mile delivery logistics. National Retail Solutions supports over 19,000 independent retailers, while Bringg optimizes logistics operations for enterprises globally.
IDT Corporation (NYSE: IDT) announced that the Federal Communications Commission’s Enforcement Bureau has completed its review regarding the renewal of spectrum licenses from IDT’s 2013 spinoff of Straight Path Communications. The Bureau does not plan to take further action, which IDT welcomes following their cooperation during the review process. This resolution allows IDT to focus on its core fintech and communication services without the uncertainty of ongoing regulatory scrutiny.
NRSInsights reported strong retail performance in July 2022, showing a 9.2% increase in same-store sales year-over-year, and a 6.5% increase from June 2022. Year-to-date sales rose 8.6% compared to the prior year. The increase in sales was driven by high demand for non-alcoholic beverages and beer. NRS operates over 16,000 POS terminals across the U.S., processing $11.5 billion in sales within the last year. The data indicates that inflationary pressures remain moderate in comparison to broader retail trends.