For Immediate Releases Chicago, IL – September 18, 2024 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Meta Platforms, Inc. (META) , Texas Instruments Inc. (TXN) , The Charles Schwab Corp. (SCHW) and IDT Corp. (IDT) . Here are highlights from Wednesday's Analyst Blog: Top Research Reports for Meta, Texas Instruments ...

Powerful New Interface Allows net2phone Unite Users to Manage All Communications from One Screen, Making It Easy to Engage Whether in The Office, Working Remotely or On-the-Go Other New Features Include AI-Powered Call Summaries & Transcriptions, and Internal Team Chats Newark, NJ, Aug. 27, 2024 (GLOBE NEWSWIRE) -- net2phone, a leading provider of intelligent communications-as-a-service for businesses and contact centers, today unveiled a bold new interface for its Unite business communications platform whi ...

July same-store sales increased 1.2% year-over-year NEWARK, N.J., Aug. 08, 2024 (GLOBE NEWSWIRE) -- NRSInsights, a provider of sales data and analytics drawn from retail transactions processed through the National Retail Solutions (NRS) point-of-sale (POS) platform, today announced comparative same-store sales results for July 2024. As of July 31, 2024, the NRS retail network comprised approximately 32,100 active terminals nationwide, scanning purchases at independent retailers including bodegas, convenienc ...

Core Insights - June 2024 same-store sales increased by 5.1% year-over-year compared to June 2023, showing a positive trend in retail performance [4][9] - The NRS retail network, as of June 30, 2024, included approximately 31,400 active terminals serving independent retailers across the U.S., primarily in urban areas [3][15] - The dollar-weighted average price for the top 500 items purchased increased by 1.1% year-over-year, indicating a slight decrease in price growth compared to the previous month [5] Sales Performance - Same-store sales rose by 1.6% compared to May 2024, following a 3.4% increase from April 2024 [5] - For the three months ending June 30, 2024, same-store sales increased by 3.5% compared to the same period in 2023 [5] - The number of units sold increased by 5.5% year-over-year, with a 2.8% rise in average transactions per store [5] Geographic and Seasonal Trends - Growth was observed across geographic regions, with 37 out of 50 states reporting increases in all three sales metrics [10] - Seasonal categories, particularly Sun Care products, saw significant sales increases, with growth exceeding 50% compared to June 2023 [11] - States in the Northeast contributed over 50% of the network's transaction growth, while Florida and Texas underperformed [10] Category Performance - Packaged Beverages were identified as a key driver of sales dollar growth for the NRS network [11] - Categories such as Candy/Gum/Mints and Tobacco Alternatives/Vape experienced underperformance compared to the previous year [12] - Sweet Snacks showed a decline in sales metrics, reversing a recent trend of increased demand [12] Transaction Data - The NRSInsights report is based on approximately 186 million transactions processed through about 18,400 stores for June 2024 [13] - Comparisons for June 2024 with May 2024 are derived from approximately 246 million transactions across 26,200 stores [14] - The NRS network processed $19.1 billion in sales through approximately 1.4 billion transactions over the twelve months ending June 30, 2024 [15]

Core Viewpoint - Zacks Investment Research has initiated coverage of IDT Corporation with a "Neutral" recommendation, reflecting a mixed outlook for the company despite its progress in communication and payment services [1] Group 1: Financial Performance - IDT's high-growth segments, including National Retail Solutions (NRS), net2phone, and BOSS Money, significantly contributed to a 310 basis point improvement in consolidated gross margin in Q3 of fiscal 2024 [2] - NRS reported a remarkable 65.9% year-over-year increase in merchant services revenues, driven by the higher adoption of NRS Pay, indicating strong future profitability [2] - The fintech segment, led by BOSS Money, achieved positive adjusted EBITDA for the first time in Q3 of fiscal 2024, highlighting effective cost management and revenue growth strategies [6] Group 2: Market Positioning and Growth Opportunities - IDT Corporation has established a strong market position in communication and payment services, leveraging technology across fintech, cloud communications, and traditional communications [5] - The company is expected to benefit from technological advancements in net2phone, including new pricing models and AI-powered functionalities, which are anticipated to drive further growth [6] - The increasing adoption of contactless and digital payment methods presents significant growth opportunities for IDT [6] Group 3: Stock Performance and Valuation - IDT Corporation's stock has outperformed its industry peers and the broader market over the past year, currently trading at low valuation multiples relative to industry standards [7] - This low valuation presents an attractive entry point for investors, especially considering IDT's strategic market positioning and potential for profitability improvements [7] Group 4: Risks and Challenges - IDT faces risks from economic downturns, integration challenges, declining traditional telecom revenues, and rising operating expenses [3] - Compliance with evolving fintech regulations and intense competition necessitates continuous innovation and investment, which could impact profitability [3]

Revenue Performance - For the three months ended April 30, 2024, National Retail Solutions (NRS) represented 8.6% of total revenues, compared to 6.0% for the same period in 2023[147]. - NRS accounted for 8.4% of total revenues for the nine months ended April 30, 2024, compared to 6.1% for the same period in 2023[147]. - Total revenues for the three months ended April 30, 2024, increased to $25.7 million, a 42.3% increase from $18.1 million in the same period of 2023[148]. - Recurring revenues rose to $24.0 million, up 45.4% from $16.5 million year-over-year[148]. - BOSS Money revenues increased by 41.9% to $27.6 million in the three months ended April 30, 2024, compared to $19.5 million in the same period of 2023[153]. - Subscription revenues increased by 17.1% to $20.1 million in the three months ended April 30, 2024, compared to $17.1 million in the same period of 2023[160]. - Total revenues for the three months ended April 30, 2024, were $20.7 million, a 12.4% increase from $18.4 million in the same period of 2023[160]. - Revenues from IDT Digital Payments slightly increased by 0.5% to $101.6 million in the three months ended April 30, 2024, compared to $101.0 million in the same period of 2023[169]. - Revenues from BOSS Revolution Calling decreased by 18.5% to $63.2 million in the three months ended April 30, 2024, compared to $77.6 million in the same period of 2023[169]. - IDT Global revenues decreased by 8.1% to $50.1 million in the three months ended April 30, 2024, compared to $54.5 million in the same period of 2023[169]. - Revenues from international operations accounted for 22% of consolidated revenues in the three months ended April 30, 2024, down from 28% in the same period of 2023[218]. Expenses and Profitability - Selling, general and administrative expenses as a percentage of revenue decreased to 60.9% from 64.1% in the three months ended April 30, 2024, compared to the same period in 2023[150]. - Gross profit for the three months ended April 30, 2024, was $22.1 million, a 47.6% increase from $15.0 million in the same period of 2023[148]. - Direct cost of revenues increased by 16.2% to $3.6 million in the three months ended April 30, 2024, compared to $3.1 million in the same period of 2023[149]. - Technology and development expenses increased by 28.5% to $1.7 million in the three months ended April 30, 2024, compared to $1.3 million in the same period of 2023[151]. - Corporate general and administrative expense was $8.3 million in the three months ended April 30, 2024, compared to $6.7 million in the same period of 2023, reflecting a 23.5% increase[180]. - Income from operations for the three months ended April 30, 2024, was $11.4 million, a 10.2% increase from $10.4 million in the same period of 2023[187]. - Net income attributable to IDT Corporation for the three months ended April 30, 2024, was $5.6 million, down 19.4% from $6.9 million in the same period of 2023[187]. - Total stock-based compensation expense increased to $2.1 million in the three months ended April 30, 2024, from $1.7 million in the same period of 2023, representing a 23.5% increase[183]. Assets and Cash Flow - Cash, cash equivalents, debt securities, and current equity investments totaled $174.0 million as of April 30, 2024[191]. - Working capital as of April 30, 2024, was $130.7 million, indicating a strong liquidity position[191]. - Cash flows from operating activities increased to $49.3 million for the nine months ended April 30, 2024, compared to $28.7 million for the same period in 2023, representing a 72.5% increase[194]. - Gross trade accounts receivable rose to $45.7 million at April 30, 2024, up from $37.7 million at July 31, 2023, indicating an increase of 21.2%[196]. - Deferred revenue decreased to $32.1 million at April 30, 2024, down from $35.3 million at July 31, 2023, reflecting a decline of 9.0%[197]. - Customer deposit liabilities at IDT Financial Services decreased to $83.7 million at April 30, 2024, from $86.5 million at July 31, 2023, a reduction of 3.2%[198]. - Capital expenditures were $13.6 million for the nine months ended April 30, 2024, compared to $16.0 million in the same period of 2023, a decrease of 15.0%[202]. - The company anticipates total capital expenditures of $17.5 million to $20 million for the twelve-month period ending April 30, 2025[202]. - Cash dividends paid in the nine months ended April 30, 2024, totaled $1.3 million, with a quarterly cash dividend of $0.05 per share initiated in March 2024[207]. - The value of debt and equity security holdings was $40.9 million at April 30, 2024, down from $58.5 million at July 31, 2023, representing a decrease of 30.2%[220]. Accounting and Compliance - The company plans to adopt new accounting standards related to income taxes and crypto assets for the fiscal year beginning August 1, 2025[132][133]. - The company is evaluating the impact of recently issued accounting standards on its consolidated financial statements[132][133][134]. - The company incurred legal fees of $3.2 million related to a class action lawsuit in the three months ended April 30, 2024, compared to $1.0 million in the same period of 2023[181]. - Other operating expenses net increased significantly by 396.5% to $2.6 million in the three months ended April 30, 2024, from $0.6 million in the same period of 2023[181]. Customer Metrics - Active POS terminals and payment processing accounts are key metrics for measuring NRS's customer base[142]. - Active POS terminals increased by 27% to 30.3 thousand from 23.9 thousand in the previous year[148]. - Payment processing accounts grew by 38% to 19.5 million from 14.1 million year-over-year[148]. - The number of seats served increased by 13% to 384, up from 340 in the same period of 2023[160]. - The net2phone segment represented 6.9% of total revenues in the three months ended April 30, 2024, compared to 6.2% in the same period of 2023[159]. - net2phone's subscription revenue excludes equipment revenue and revenue from a legacy SIP trunking offering in Brazil[143]. Strategic Outlook - The company is considering strategic investments and acquisitions to expand and enter new businesses, although there is no guarantee of successful opportunities meeting return-on-investment criteria[217].

Core Insights - The NRS retail network consists of approximately 30,800 active terminals serving independent retailers across the U.S., primarily targeting urban consumers [1][9] - In May 2024, the NRS point-of-sale network reported a 4.7% increase in same-store sales compared to May 2023, indicating solid growth in retail performance [2][4][12] Sales Performance - Same-store sales rose 4.7% year-over-year in May 2024, following a 2.5% increase in April 2024 compared to April 2023 [4] - Month-over-month, same-store sales increased by 3.4% from April 2024 [4] - Over the three months ending May 31, 2024, same-store sales increased by 4.3% compared to the same period in 2023 [4] - The number of items sold also increased by 4.7% year-over-year in May 2024 [4] - Average transactions per store rose by 2.3% compared to May 2023 [4] Pricing Trends - The dollar-weighted average price for the top 500 items purchased increased by 1.6% year-over-year, marking the highest rate of price increases since November 2023 [4] Category Insights - Sales of smokeless tobacco products, particularly nicotine pouches, have seen significant growth, while traditional tobacco and cigarette sales have declined [5] - High-protein products, including nutritional shakes and snacks, have gained traction, correlating with the popularity of GLP-1 agonist weight loss drugs [6] Market Position - The NRS network's same-store sales growth has outpaced the U.S. Commerce Department's retail trade data by an average of 3.0 percentage points over the past twelve months [7] - The NRS platform processed $18.8 billion in sales through approximately 1.3 billion transactions in the twelve months ending May 31, 2024 [9][10]

Core Insights - NRSInsights reported a 4.7% year-over-year increase in same-store sales for May 2024, indicating a positive trend in retail performance [1][13][14] - The NRS retail network consists of approximately 30,800 active terminals across independent retailers, primarily serving urban consumers [2][8] - The data reflects a significant increase in sales of high-protein products, correlating with the rising popularity of GLP-1 agonist weight loss drugs [4] Sales Performance - Same-store sales rose 4.3% for the three months ending May 31, 2024, compared to the same period in 2023 [13] - The number of items sold increased by 4.7% year-over-year, with a 2.3% rise in average transactions per store [13] - A dollar-weighted average price for the top 500 items increased by 1.6% year-over-year, marking the highest rate of price increases since November 2023 [13] Product Category Insights - Smokeless Tobacco sales are on the rise, driven by the popularity of nicotine pouches, while traditional Tobacco and Cigarette sales have seen a modest decline [3] - Sales of cold beverages have increased as the season begins, with categories like Beer, Soft Drinks, and Coconut Water showing growth [15] - The Vape category has experienced year-over-year decreases in sales, indicating a shift in consumer preferences [3] Network and Transaction Data - The NRS network processed $18.8 billion in sales through approximately 1.3 billion transactions over the twelve months ending May 31, 2024 [8] - The same-store data comparisons for May 2024 were derived from around 187 million transactions across approximately 18,000 stores [17] - NRS's same-store sales growth has outpaced the U.S. Commerce Department's retail data by an average of 3.0 percentage points over the past twelve months [17]

Core Viewpoint - IDT Corporation reported a mixed performance in the third quarter of fiscal 2024, with a decline in adjusted earnings per share and net income, despite a slight increase in revenues driven by strong performances in several business segments [1][12][19]. Revenue Performance - IDT registered revenues of $299.6 million in the fiscal third quarter, reflecting a year-over-year increase of 0.1% [3]. - The National Retail Solutions (NRS) segment reported revenues of $25.7 million, up 42.3% from the previous year [5]. - The net2phone segment generated revenues of $20.7 million, marking a 12.4% increase year over year [6]. - The Fintech segment saw revenues of $31.5 million, up 44.7% from the year-ago quarter, driven by significant growth in BOSS Money Transactions [7]. - The Traditional Communications segment's revenues decreased by 8% year over year, totaling $221.7 million [8]. Profitability Metrics - Gross profit increased by 10.8% to $97 million, with gross margin expanding by 313 basis points to 32.4% [9]. - Adjusted operating profit totaled $15.4 million, reflecting a 1% increase from the prior year, with an adjusted operating margin of 5.2% [11]. - Adjusted EBITDA for the quarter was $20.6 million, a slight increase of 0.5% from the previous year [16]. Expenses Overview - Selling, general and administrative expenses rose by 14.7% to $68.9 million, while technology and development expenses increased by 4.1% to $12.6 million [10]. Net Income and Cash Position - Net income attributable to IDT was $5.6 million, down 19.4% from $6.9 million in the prior-year quarter, primarily due to a higher effective income tax rate and foreign currency transaction losses [12]. - The company ended the quarter with cash and cash equivalents of $139.8 million, slightly down from $141.1 million at the end of the previous quarter [13]. Strategic Initiatives - IDT's BOSS Money brand announced significant initiatives to expand its money transfer services, including remittances within the United States, which is expected to enhance growth prospects [15].

Exhibit 99.1 IDT Corporation Reports Third Quarter Fiscal Year 2024 Results NRS: Recurring Revenue Up 45%; Income from Operations Up 129%, Adjusted EBITDA Up 108% net2phone: Subscription Revenue Up 17%; Income from Operations Up 226%; Adjusted EBITDA Up 107% BOSS Money: Transactions Up 44%; Revenue Up 42% -- Fintech Segment Adjusted EBITDA Turns Positive NEWARK, NJ — June 5, 2024: IDT Corporation (NYSE: IDT), a global provider of fintech, cloud communications, and traditional communications solutions, today ...