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.
National Retail Solutions (NRS), a subsidiary of IDT, announced a multi-year renewal of a data license with Swisher International for their point-of-sale (POS) scanner data. NRS operates a leading POS network for over 13,100 independent retailers across the U.S. The collaboration aims to enhance insights for independent tobacco retailers, enabling Swisher to develop tailored brand strategies and seize store-level opportunities. This partnership highlights NRS's unique dataset's potential for growth in a challenging retail segment.
net2phone, a subsidiary of IDT, has launched a HIPAA compliance program for its communication solutions. This initiative enables healthcare providers to utilize net2phone’s HIPAA-eligible services, ensuring that data privacy remains a priority. New features include call recording, voicemail, and voicemail transcription. Businesses can now access robust cloud communications including unlimited calling, advanced call routing, and integrations with popular applications, all at competitive rates. The program is expected to enhance service offerings to healthcare entities.
On August 25, 2021, IDT announced a partnership with PRISM Transfer to enhance remittance services in Haiti, expanding payout options for users of BOSS Revolution Money. This collaboration enables quicker and safer cash transfers to families affected by recent natural disasters. Customers can now collect cash at over 40 Fonkoze locations or deposit remittances directly into mobile wallets via MonCash. The promotional offer allows transfers up to $150 for just $1.00 until August 31, 2021. The partnership aims to facilitate financial support for the Haitian diaspora.
IDT Corporation (NYSE: IDT) has launched BOSS Revolution services in response to the recent earthquake in Haiti. From now until August 22, customers can send no-fee money transfers of up to $130 through the BOSS Revolution Money app or website. Reduced calling rates to Haiti are also available until August 15. The company aims to support the Haitian relief effort by facilitating communication and sending financial aid to affected families. IDT emphasizes its commitment to helping the Haitian diaspora during this crisis.
IDT Corporation (NYSE: IDT) has partnered with TerraPay to enhance its BOSS Revolution Money Transfer service, enabling seamless transfers to mobile wallets in Senegal and Benin. Customers can now send money to these countries and over 36 others, accessing more than 309,000 payment points. The partnership aims to expand the service's reach across Africa, Asia, LATAM, and Europe, providing real-time payment options. First-time users can make transfers up to $300 without fees through the BOSS Revolution Money app, available on both the App Store and Google Play.
IDT Corporation (NYSE: IDT) announced a new SMS carrier agreement with Telefónica Global Solutions on August 11, 2021. This agreement allows IDT to send SMS messages from its BOSS Revolution businesses in the U.S. and global partners directly to Telefónica mobile subscribers. The partnership builds on an existing relationship where over one billion minutes of international voice traffic are exchanged annually. IDT aims to enhance its SMS messaging capabilities and diversify its Carrier Services business through this collaboration.
IDT Corporation (NYSE: IDT) announced a partnership with professional soccer player Jonathan Mensah, the captain of MLS’s Columbus Crew, to promote its BOSS Revolution brand. Mensah, an immigrant from Ghana, will serve as a spokesperson for IDT's international money transfer, voice calling, and mobile top-up services. His personal experiences as a customer align with the brand's focus on connecting immigrant families. This partnership aims to enhance brand visibility across various media, leveraging Mensah's influence within immigrant communities.
IDT Corporation (NYSE: IDT) subsidiary National Retail Solutions (NRS) announced an expanded partnership with Koupon to enhance consumer packaged goods (CPG) brand marketing in independent convenience stores. This collaboration integrates digital coupons with retail displays and analytics, improving marketing effectiveness. NRS operates over 14,000 POS terminals, processing 58 million transactions monthly. The BR Club loyalty program of IDT allows over 2 million members to access digital promotions, boosting engagement in hard-to-reach urban markets.
IDT Corporation will present at the 2021 LD Micro Invitational virtual investor conference on June 8th at 1:30 PM ET. The event will cover recent results and management’s strategy, with a webcast available for attendees. Registration is free of charge. The conference runs from June 8th to 10th and features around 180 companies, each presenting for 25 minutes. IDT will also share its presentation slides on its investor pages during the event.
IDT Corporation reported strong financial results for Q3 FY 2021, with revenue of $374 million, up 16% year-over-year, driven by significant growth in its net2phone-UCaaS and National Retail Solutions segments. The company achieved a net income per diluted share of $1.39, significantly higher than $0.02 in Q3 FY 2020. Adjusted EBITDA increased to $17.9 million, demonstrating operational efficiency. Notable highlights include a 39% rise in net2phone subscription revenue and a remarkable 123% surge in NRS revenue. IDT's cash position remains robust, with $127.6 million in unrestricted funds.