IDT Corporation Reports Revenue and Net Income Growth for Q3 and Nine Months Ended April 30, 2025

IDT Corporation reported a notable increase in financial performance for the three and nine months ended April 30, 2025, compared to the same periods in the previous fiscal year. The company generated revenues of $301.985 million for the third quarter, a slight increase from $299.643 million in the prior year. For the nine-month period, revenues rose to $914.901 million from $896.946 million. The net income attributable to IDT Corporation surged to $21.692 million for the third quarter, up from $5.551 million, and for the nine months, it increased to $59.209 million from $27.635 million. This resulted in earnings per share of $0.86 for the third quarter and $2.35 for the nine months, compared to $0.22 and $1.10, respectively, in the prior year.

The company experienced significant operational changes, particularly in its National Retail Solutions (NRS) and Fintech segments. NRS revenues increased to $31.145 million in the third quarter from $25.712 million, driven by a rise in active point-of-sale terminals and payment processing accounts. The Fintech segment, which includes BOSS Money, also saw revenue growth, with total revenues reaching $38.619 million, up from $31.526 million. The net2phone segment reported revenues of $21.990 million, a modest increase from $20.677 million, while Traditional Communications revenues decreased to $210.231 million from $221.728 million, primarily due to a decline in BOSS Revolution revenues.

IDT's total current assets increased to $498.274 million as of April 30, 2025, compared to $422.525 million at the end of the previous fiscal year. This growth was attributed to higher cash and cash equivalents, which rose to $199.948 million from $164.557 million, and an increase in customer funds deposits, which reached $121.765 million from $91.893 million. The company also reported a decrease in total liabilities, which rose to $290.057 million from $283.539 million, reflecting improved operational efficiency and cash management.

Looking ahead, IDT Corporation anticipates continued growth driven by its strategic initiatives, including the expansion of its POS network and enhancements in its Fintech offerings. The company plans to maintain its focus on operational efficiency and cost management while exploring potential acquisitions to further enhance its market position. The outlook remains positive, with expectations of sustained revenue growth and profitability in the upcoming quarters, supported by a strong cash position and ongoing investments in technology and development.