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- **Revenue Growth Drivers**: NRS merchant services and SaaS fees powered 17% YoY digital transaction growth at BOSS Money, outperforming industry trends.
- **Profitability**: Growth segments (NRS, BOSS Money, net2phone) contributed 53% of adjusted EBITDA, up from 45% YoY.
- **Digital Shift Impact**: Federal remittance tax accelerated 17% YoY digital transactions, driving 37% EBITDA growth in net2phone.
- **Shareholder Returns**: 17% dividend increase and $15M buybacks, with FY2026 buyback pace exceeding prior years.

**【CEO Summary Section】**
- **Revenue Growth**: NRS recurring revenue grew year-over-year, driven by merchant services and SaaS fee revenues. BOSS Money's digital channel transactions increased by 17% YoY, outperforming industry trends.
- **AI Initiatives**: Early AI adoption is generating positive customer reviews, with plans for a new unified communications offering targeting SMBs.
- **Financial Discipline**: Traditional Communications contributed $19 million in adjusted EBITDA, maintaining stability despite lower-margin business pressures.
- **Shareholder Returns**: $15 million in stock buybacks and a 17% dividend increase, signaling confidence in cash flow generation.

**【CFO Financial Commentary】**
- **Record Metrics**: Gross profit, adjusted EBITDA, and non-GAAP EPS reached record levels, with net2phone driving a 37% YoY increase in adjusted EBITDA.
- **Segment Performance**: Growth segments (NRS, BOSS Money, net2phone) contributed 53% of consolidated adjusted EBITDA, up from 45% YoY.
- **Digital Channel Shift**: The new federal remittance tax accelerated migration to higher-margin digital transactions, with February and March volumes nearing Christmas and Mother's Day levels.
- **Capital Allocation**: On track to exceed prior-year buyback pace, with $18 million spent in FY2025 vs. $11 million in FY2024.

**【Q&A Key Highlights】**
- **NRS Dynamics**: SG&A increase due to new product launches and reseller channel expansion, offsetting advertising market softness.
- **BOSS Money Competition**: App ratings and pricing competitiveness support customer retention, with digital transaction margins outpacing retail despite lower revenue per transaction.
- **M&A Strategy**: Cautious approach to acquisitions, prioritizing organic growth and digital channel migration over aggressive M&A.
- **Marcus Park Investment**: Minority stake with no immediate plans for full acquisition or public listing.

IDT Corporation(IDT)-20260311-2026 Q2 Earnings call transcript

- **Record Financial Performance**: 26% YoY EBITDA growth to $37.9 million, driven by NRS (33% EBITDA increase) and Fintech (87% EBITDA increase).
- **AI-Driven Innovation**: Launch of AI solutions in net2phone and BOSS Money, with AI reducing transaction costs and improving unit economics.
- **Strategic Expansion**: Plans for international market entry and small acquisitions to accelerate growth in adjacent verticals.
- **Shareholder Returns**: $7.6 million in stock buybacks and plans for further buybacks, alongside quarterly dividends.
- **Legal Resolution**: Successful dismissal of Straight Path class action lawsuit, eliminating a major risk.

**【Management Opening Remarks】**
- Bill Ulrey introduced the call, highlighting the company's financial performance and forward-looking statements. He emphasized the use of non-GAAP measures and the risks associated with future projections.

**【CEO Summary Section】**
- **Revenue Growth**: Consolidated revenue increased 4% to $323 million, driven by NRS, Fintech, and net2phone segments, which collectively grew 16%.
- **Profitability**: Record gross profit of $118 million (37% margin) and adjusted EBITDA of $37.9 million (11.7% margin). NRS, Fintech, and net2phone contributed 57% of adjusted EBITDA.
- **Strategic Initiatives**: Launch of AI solutions in net2phone, BOSS Money's digital channel growth (84% of transactions), and premium services driving average recurring revenue per terminal up 6%.
- **Legal Update**: Delaware Supreme Court dismissed all claims in the Straight Path class action suit, resolving a significant legal risk.

**【CFO Financial Commentary】**
- **Financial Highlights**: GAAP EPS of $0.89 (31% YoY increase), Non-GAAP EPS of $0.94 (32% YoY increase). EBITDA less CapEx reached $32.1 million, a 30% YoY increase.
- **Segment Performance**: 
  - **NRS**: Recurring revenue up 22% to $35 million, merchant services revenue up 38%, and adjusted EBITDA up 33%.
  - **Fintech**: BOSS Money's adjusted EBITDA margin of 18%, with AI-driven cost reductions.
  - **net2phone**: Seats up 7% to 432,000, income from operations up 94%, and AI investment for new verticals.
  - **Traditional Communications**: Adjusted EBITDA up 2% to $18.9 million, with ongoing OpEx reductions.
- **Liquidity**: $220 million in cash, with $7.6 million in stock buybacks and plans for further buybacks and dividends.
- **Guidance**: Full-year 2026 adjusted EBITDA target of $141-$145 million (7%-10% growth).

**【Q&A Key Highlights】**
- **M&A Strategy**: CEO cautious on large acquisitions, focusing on small NRS-related deals and exploring international expansion via acquisitions.
- **Account Growth**: New payment processing accounts require POS terminals, with conversions and adjacent verticals (e.g., food service, CBD) driving growth.
- **International Expansion**: Exploring entry into new countries, with Canada as a potential near-term focus.
- **Traditional Communications**: Resilient performance with stable gross profit despite revenue fluctuations, driven by high-margin solutions.


IDT Corporation (IDT) Q1 2026 Earnings Call Transcript

- **Record EBITDA growth**: Full-year adjusted EBITDA up 43% to $129 million, driven by high-margin segments.
- **Digital remittance dominance**: BOSS Money digital channel share at 80%, with fee pricing adjustments to capture volume growth. New tax expected to accelerate digital migration.
- **AI transformation**: Net2phone AI agents in 10% of sales, with shift to usage-based pricing. NRS recurring revenue per terminal up 22% to $299.
- **Cash return focus**: $254 million in cash, with quarterly dividend and opportunistic buybacks. Disciplined M&A approach.
- **Risks and opportunities**: Immigration policy uncertainty impacting remittance demand, but stablecoin and WhatsApp initiatives poised to drive growth.

**【CEO Summary Section】**
- **Record financial performance**: Full-year adjusted EBITDA increased 43% to $129 million, driven by growth in NRS, FinTech, and net2phone segments.
- **NRS expansion**: Merchant services and SaaS fee revenue growth, with recurring revenue per terminal reaching $299. Integrations with DoorDash and a new delivery service are driving retailer engagement. NRS Insights signed a deal with a major coupon provider for digital coupons.
- **BOSS Money digital dominance**: 80% of remittance volume via digital channels, with transactions up 28% and dollars sent up 41%. Fee pricing adjustments to capture volume growth. New 1% federal tax on cash remittances expected to accelerate digital migration.
- **Net2phone AI transformation**: 10% of sales involve AI agents, with plans to shift to usage-based pricing. Budgeted for high single-digit EBITDA growth in 2026 with increased R&D investment.
- **Traditional Communications efficiency**: Streamlined operations in BOSS Calling and IDT Global, with gross margin expansion. Digital payments business driving cash flow.
- **Capital allocation**: $254 million in cash, with focus on organic growth and disciplined M&A. Quarterly dividend and opportunistic buybacks.

**【CFO Financial Commentary】**
- **Revenue growth**: Full-year revenue up 2%, with high-margin segments (NRS, FinTech, net2phone) contributing 31% of Q4 revenue. Consolidated gross margin improved 380 basis points.
- **Segment performance**: 
  - **NRS**: Adjusted EBITDA up 37% to $34.2 million, with recurring revenue per terminal up 22%. Advertising revenue recovery expected in 2026.
  - **FinTech**: BOSS Money EBITDA margin reached 15-20% range, with digital channel gross profit 20% higher than retail. Full-year Fintech EBITDA up 16x to $18.4 million.
  - **Net2phone**: Subscription revenue up 9%, with disciplined SG&A control. 2026 budget includes AI investment for long-term profitability.
  - **Traditional Communications**: Adjusted EBITDA up 13% to $75 million, with IDT Digital Payments growth offsetting declines in legacy businesses.
- **Cash position**: $254 million at July 31, 2025, supporting growth initiatives and shareholder returns.

**【Q&A Highlights】**
- **Stablecoins and wallets**: Beta launch of stablecoin wallets, with full rollout expected in 2026. WhatsApp integration launching to existing customers in Q4, new customers in 30-45 days.
- **M&A strategy**: Failed acquisition attempt in Q4, but focus on smaller, accretive deals. Caution on valuations amid industry consolidation.
- **NRS churn**: Driven by immigration enforcement, competitive pressures, and technical issues. Winning back customers through superior value proposition.
- **BOSS Money growth**: 2026 budget for high teens revenue and EBITDA growth, supported by digital wallet, WhatsApp, and tax-driven migration. Immigration policy uncertainty poses risk.
- **Net2phone monetization**: Shifting from seat-based to usage-based pricing for AI agents, with 30%+ sales penetration target by year-end.


IDT Corporation (IDT) Q4 2025 Earnings Call Transcript

- **Revenue Surge**: 133% YoY EBITDA growth to $121M, driven by NRS (37% merchant services), BOSS Money (27% transactions), and net2phone's 50% EBITDA jump.
- **AI Expansion**: net2phone AI Agents adopted by call centers, doctors' offices, and SMBs; 'Coach' service launch imminent.
- **Profit Optimization**: BOSS Money digital sends +40% YoY, testing dynamic pricing for larger remittances.
- **Cash Strength**: $224M cash, balanced between buybacks and M&A (e.g., restaurant tech acquisition).
- **Risk Management**: NRS ad revenue -12% YoY (proactive client risk), but other ad partners growing +10% YoY.

**【CEO Opening Remarks】**
- **Revenue Growth**: Q3 revenue growth of 133% YoY driven by NRS (23% YoY), BOSS Money (25% YoY), and net2phone's 7% subscription revenue increase.
- **Segment Highlights**: 
  - **NRS**: Merchant services revenue +37%, SaaS fees +33%, 12-month adjusted EBITDA of $32M.
  - **BOSS Money**: Transactions up 27%, digital send volume +40% YoY, targeting 15-20% EBITDA margin.
  - **net2phone**: AI Agents adoption across call centers, doctors' offices, and accounting firms; Q3 EBITDA +50% to $3.2M.
  - **Traditional Communications**: EBITDA +30% YoY to $19.3M, confirmed as long-term cash generator.
- **Future Focus**: Integrating online delivery platforms for NRS retailers (100+ signed, 2,000 weekly orders), AI-powered 'Coach' service launch, and selective M&A (e.g., restaurant tech acquisition).

**【CFO Financial Insights】**
- **Key Metrics**: 
  - Consolidated EBITDA +57% YoY to $121M (vs. H1 $63M), EPS +290% YoY.
  - Gross margin record high at 37.1%, NRS margin 30.5%, BOSS Money margin 13%.
  - Cash +$53M QoQ to $224M, driven by BOSS Money working capital cycle.
- **Segment Performance**: 
  - **NRS**: Advertising revenue -12% YoY (proactive client risk management), SaaS fees offsetting with +33% growth.
  - **BOSS Money**: Digital sends >80% of remittances, optimizing gross profit per transaction in retail channel.
  - **net2phone**: Constant currency revenue +11%, SG&A -10% YoY, EBITDA margin 15%.
  - **Traditional Communications**: Gross profit +5% YoY, SG&A -9.5% YoY.
- **Capital Allocation**: Share buybacks ($6M in Q3) balanced with M&A opportunities in attractive valuations.

**【Q&A Key Takeaways】**
- **NRS Strategy**: New salesforce driving merchant services growth, no shift to higher-cost terminals; NRS Pay accounts at record levels.
- **net2phone AI**: Primarily serving existing customers (call centers, SMBs), targeting 15-20% EBITDA margin with scale.
- **BOSS Money Profitability**: Testing dynamic pricing for larger transactions, exploring stablecoins and in-country wallets.
- **Ad Business Risk**: 1 large programmatic client now <5% of ad revenue, others growing +10% YoY.
- **M&A Appetite**: Actively evaluating acquisitions with clear value accretion, no debt-financed buybacks.

IDT Corporation (IDT) Q3 2025 Earnings Conference Call Transcript

- **Record EBITDA Growth**: Q2 adjusted EBITDA of $34 million sets up for 40%+ YoY growth, driven by NRS (32% rev growth) and BOSS Money (5.7M transactions).
- **AI-Driven Efficiency**: Net2phone's virtual AI agent slashes costs, while traditional comms EBITDA hits $20M (19% YoY).
- **Shareholder Returns**: 20% dividend hike & $8.5M share buybacks highlight cash strength, despite Q2 cash flow timing quirks.
- **Balanced Growth Strategy**: BOSS Money prioritizes profitable digital expansion, while NRS invests in SaaS features like DoorDash integration.


**【CEO Summary Section】**
- **NRS & BOSS Money Growth**: NRS achieved 32% recurring revenue growth, while BOSS Money transaction volume reached an all-time high of 5.7 million. Both businesses drove Fintech segment gross profit to $22 million.
- **AI Integration Success**: Net2phone's virtual AI agent was well-received, reducing costs and enhancing customer interactions. AI-driven solutions are expected to add value across client functions.
- **Dividend & Share Repurchase**: The Board increased the quarterly dividend by 20% and repurchased 179,000 shares ($8.5 million) in Q2, reflecting confidence in cash generation.

**【CFO Financial Commentary】**
- **Consolidated Performance**: Adjusted EBITDA reached a record $34 million, with the traditional communications segment generating $20 million (19% YoY increase). Full-year EBITDA is expected to grow ~40% YoY.
- **Segment Breakdown**: 
  - **NRS**: $10 million+ EBITDA, $310 recurring revenue per terminal.
  - **BOSS Money**: 35% GP growth, 80% digital transactions.
  - **Net2phone**: 14% constant-currency subscription growth, 55% EBITDA margin expansion.
- **Cash Management**: Q2 operating cash flow was $7 million (vs. $25 million YoY), driven by BOSS Money's working capital needs. Q3 is expected to show higher cash levels due to timing dynamics.

**【Q&A Key Takeaways】**
- **NRS Expansion**: 6,000 terminal target remains on track; international expansion via acquisition is a long-term possibility.
- **BOSS Money Strategy**: Balancing growth with profitability by optimizing retail channel GP. Digital channel margins remain strong (80%+ of transactions).
- **Net2phone Outlook**: Larger deal pipeline and AI investment poised to drive second-half performance, despite currency headwinds.
- **Regulatory Impact**: No material slowdown from immigration policies; NRS same-store sales +3.5% YoY in February.


IDT (IDT)-6 Mar 25-2025 Q2 Earnings call transcript

IDT (IDT)-4 Dec 24-2025 Q1 Earnings call transcript

IDT (IDT)-8 Oct 24-2024 Q4 Earnings call transcript

IDT Corp. - Ordinary Shares (IDT)-5 Jun 24-2024 Q3 Earnings call transcript

IDT Corp. - Ordinary Shares (IDT)-6 Mar 24-2024 Q2 Earnings call transcript

- **Gross Margin Expansion**: 370 basis points YoY driven by high-growth businesses.
- **Marketing Efficiency**: $4M quarterly spend on digital marketing with focus on retail agent education.
- **Operational Scale**: Fixed SG&A controlled, variable costs tied to platform growth. ARPU improvements expected from CCaaS adoption.
- **Customer Growth**: 55% YoY retail money transfer growth, 31% digital channel expansion. 12,000-13,000 net2phone seats added Q1 2024.

**【CEO Remarks】**
- **Revenue Growth**: High-growth businesses (BOSS Money, NRS, net2phone) drove a 370 basis point year-over-year increase in gross profit margin. BOSS Money's retail channel revenue grew 55% YoY, while digital channel revenue increased 31% YoY.
- **Strategic Investments**: Expanded retail agent network by nearly 50% in FY23, with 1,800 agents onboarding. Digital marketing spend of ~$4 million quarterly to educate market on money transfer capabilities.
- **Operational Efficiency**: Streamlined overhead in Traditional Communications to preserve cash flow despite top-line declines. Net2phone generated $1.4 million adjusted EBITDA and was near cash flow positive.
- **Customer Acquisition**: Focus on low-cost onboarding of BOSS Money customers through retail agents, with payback period tied to transaction volume (e.g., 150/month threshold).

**【Q&A Highlights】**
- **SG&A Management**: Fixed SG&A kept stable despite growth, with variable costs tied to platform deployments (e.g., net2phone IP phones). NRS commissions and marketing drive scalability.
- **Contract Dynamics**: Most customers billed monthly with 1-3 year contracts. Deferred revenue limited to ~1 month. ARPU improvements expected from CCaaS adoption (7-8x higher than standard customers).
- **Backlog & Migration**: Customer migration time varies from 1-2 days to 2 months. Backlog minimal due to monthly billing structure. Q1 2024 added ~12,000-13,000 net2phone seats.
- **M&A Activity**: Small, immaterial acquisitions focused on NRS, no material outflows expected.

Actual																									0.67	0.38	0.57	0.71	0.84	0.9	0.76	0.94	1
Forecast																															0.91	0.88	0.9
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-16.48%	+6.82%	+11.11%

Actual	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	296.10M	299.64M	308.80M	309.57M	303.35M	301.99M	316.60M	322.75M	320.52M
Forecast	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	310.00M	308.00M	302.00M
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	+2.13%	+4.79%	+6.13%

IDT

IDT fundamentals

IDT Q2 2026 Earnings

Earnings Call

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IDT

IDT fundamentals

IDT Q2 2026 Earnings

Earnings Call

IDT Earnings Call Summary for Q2/20265:30 PM on Mar 10, 2026

IDT Earnings Call Summary for Q1/20265:30 PM on Dec 4, 2025

IDT Earnings Call Summary for Q4/20255:30 PM on Sep 29, 2025

IDT Earnings Call Summary for Q3/20255:00 PM on Jun 5, 2025

IDT Earnings Call Summary for Q2/20255:30 PM on Mar 6, 2025

You can ask Aime