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IDT Corporation Class B (IDT-1.77%) has submitted its 10-Q filing for the quarterly period ended January 31, 2025.
The filing includes financial statements for the quarter, showing revenues of $303.3 million, an increase from $296.1 million in the same quarter the previous year. The revenue growth was primarily driven by the National Retail Solutions and Fintech segments.
The National Retail Solutions segment reported revenues of $33.0 million, up from $25.2 million in the previous year, due to growth in merchant services and expansion of the POS network.
The Fintech segment's revenues increased to $36.8 million from $28.0 million, driven by higher transaction volumes in BOSS Money.
The net2phone segment reported revenues of $21.5 million, an increase from $20.4 million, attributed to growth in subscription revenue.
Traditional Communications segment revenues decreased to $212.0 million from $222.5 million, primarily due to declines in BOSS Revolution revenues.
IDT Corporation reported a gross profit of $112.1 million for the quarter, up from $96.9 million in the previous year.
Operating expenses for the quarter were $83.8 million, compared to $80.9 million in the previous year, with increases in selling, general, and administrative expenses.
Net income attributable to IDT Corporation was $20.3 million, up from $14.4 million in the previous year.
Cash provided by operating activities was $20.3 million, while cash used in investing and financing activities was $10.0 million and $14.0 million, respectively.
IDT Corporation had a working capital of $183.9 million as of January 31, 2025. The company expects its cash flow from operations and current cash holdings to be sufficient to meet its needs for the next twelve months.
The filing also details various financial agreements, including a revolving credit facility with TD Bank, N.A. for up to $25.0 million.
IDT Corporation paid an aggregate cash dividend of $0.10 per share on its Class A and Class B common stock during the quarter.
The company continues to focus on expanding its National Retail Solutions and Fintech segments, leveraging its existing infrastructure to drive growth.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the IDT Corporation Class B quarterly 10-Q report dated March 12, 2025. To report an error, please email earnings@qz.com.