IDT Corp Stock Price, News & Analysis

IDT Corporation (NYSE: IDT) reported a net income of $8.3 million, equating to $0.32 per diluted share, for Q1 FY2021, marking a substantial recovery from a net loss of $1.5 million in Q1 FY2020. The company’s total revenue reached $343 million, up 1% year-over-year, while revenue less direct costs surged 16% to $70 million. Notably, BOSS Revolution Money Transfer and National Retail Solutions exhibited remarkable growth, with revenue increases of 111% and 109%, respectively. Adjusted EBITDA rose 148% to $18.1 million, reflecting strong operational performance.

IDT Corporation (NYSE: IDT) will release its financial and operational results for Q1 FY2021, covering the period ending October 31, 2020, on December 3, 2020. The earnings release will be available at approximately 4:30 PM Eastern on the IDT investor relations website. An earnings conference call is scheduled for 5:30 PM Eastern, where management will discuss results and future strategies, followed by a Q&A session. A replay will be accessible until December 10, 2020. IDT provides fintech, cloud, and traditional communications services.

National Retail Solutions (NRS) has partnered with Catalina, enhancing its digital out-of-home advertising network for independent retailers. This collaboration allows consumer package goods (CPG) brands to leverage NRS' extensive network of over 12,000 screens across 45 states. The partnership aims to improve brand communication in local markets, especially as consumers favor nearby shopping. Additionally, NRS will provide analytics to measure advertising effectiveness, further supporting independent retailers in competing against larger chains.

On November 17, 2020, net2phone announced the launch of its localized cloud communications solution in Peru, expanding its service to six additional cities in Brazil. This initiative aims to offer businesses in South America enhanced cloud communication and collaboration services while maintaining local identities. net2phone's offerings include unlimited domestic and international calling, advanced features, and a mobile application, all at a competitive monthly rate. The expansion is part of net2phone's growth strategy and is designed to leverage local infrastructure and partnerships.

BOSS Revolution, under IDT, has unveiled a redesigned BOSS Revolution Money app aimed at enhancing user experience for money remittances. New features include a 'Refer a Friend' program offering incentives for referrals, with a $10 reward each for both referrer and friend upon a qualifying transfer. Transactions up to $300 are fee-free for first-time users. The app also provides competitive rate comparisons and has garnered over 40,000 reviews with a 4.7 rating on app stores. The service supports transfers to over 320,000 locations across 59 countries.

On Oct. 27, 2020, net2phone announced a partnership with Five9, enhancing its cloud communications offerings by incorporating Five9's intelligent cloud contact center as a service (CCaaS). This integration aims to extend market reach by providing comprehensive solutions tailored for enterprises with extensive customer engagement needs. The collaboration is expected to deliver valuable synergies through shared integrations, improving customer experiences and operational efficiency.

National Retail Solutions (NRS), a subsidiary of IDT (NYSE: IDT), has launched the NRS EMV EZ Pump Solution, a cost-effective payment processing service for gas stations, enabling compliance with EMV standards. Starting April 2021, gas stations must accept chip card payments to avoid liability for fraudulent transactions. The NRS solution is affordable, with installation costs significantly lower than new pumps, which can exceed $20,000. This solution supports various payment methods, including contactless payments, crucial during the Covid-19 pandemic.

IDT Corporation (NYSE: IDT) has launched a new service for its BOSS Revolution customers in the US, enabling them to purchase and send Tropigas LP gas canisters to family and friends in Guatemala. Through a partnership with Tropigas de Guatemala, customers can select canister sizes of 25, 35, or 100 pounds for delivery. This service is available at 35,000 BOSS Revolution retailers across the US, with no delivery costs for recipients in Guatemala. The initiative aims to strengthen family connections for Guatemalans living abroad.

IDT Corporation (NYSE: IDT) reported net income per diluted share of $0.82 and Non-GAAP earnings of $0.62 for 4Q20, with revenue hitting $360.3 million, a 1.2% increase year-over-year. Full FY20 results show net income per diluted share at $0.81 and total revenue at $1,345.8 million, a 4.5% decrease.

Notable growth was seen in BOSS Revolution Money Transfer, which grew 206% in 4Q20 to $21.3 million, driven by the BR Money App. The company also repurchased 630,000 shares for $4.0 million in 4Q20.