IDT Corporation Reports Revenue Growth to $303.3 Million and Significant Net Income Increase in Q2 Fiscal 2025

IDT Corporation reported its financial results for the second quarter of fiscal 2025, ending January 31, 2025, showing a revenue increase to $303.3 million, up from $296.1 million in the same period last year. The company’s net income also rose significantly, reaching $22.2 million compared to $15.8 million in the prior year, reflecting a 40.5% increase. Earnings per share for the quarter were $0.81, up from $0.57 in the previous year. For the six-month period, revenues totaled $612.9 million, compared to $597.3 million in the same period last year, while net income increased to $40.7 million from $24.2 million.

The company noted several strategic developments during the quarter, including a focus on expanding its National Retail Solutions (NRS) segment, which saw revenue growth driven by increased merchant services and an expanded point-of-sale network. NRS revenues increased to $33.0 million for the quarter, up from $25.2 million a year earlier. The Fintech segment, which includes BOSS Money, also experienced growth, with revenues rising to $36.8 million from $28.0 million, attributed to increased transaction volumes.

Operationally, IDT reported an increase in active point-of-sale terminals to 34,800, up from 28,700 a year ago, and payment processing accounts rose to 239,000 from 182,000. The net2phone segment also contributed positively, with revenues increasing to $21.5 million from $20.4 million, driven by growth in subscription revenue. However, the Traditional Communications segment saw a decline in revenues to $212.0 million from $222.5 million, primarily due to decreased usage in the BOSS Revolution service.

The company’s balance sheet showed total assets of $575.7 million, an increase from $550.1 million at the end of the previous fiscal year. Cash and cash equivalents decreased to $142.2 million from $164.6 million, while restricted cash increased to $105.6 million from $90.9 million. IDT’s total liabilities decreased slightly to $280.6 million from $283.5 million. The company continues to maintain a strong liquidity position, with expectations that cash flow from operations will be sufficient to meet working capital and capital expenditure requirements for the upcoming year.

Looking ahead, IDT Corporation anticipates continued growth across its segments, particularly in NRS and Fintech, as it expands its service offerings and customer base. The company remains focused on strategic investments and acquisitions to enhance its market position and drive future growth.