Financial Data and Key Metrics Changes - The company reported a 310 basis point improvement in consolidated gross margin, driven by strong results from its high growth, high margin businesses [18] - The Fintech segment achieved positive adjusted EBITDA for the first time this quarter, indicating improved financial performance [21] Business Line Data and Key Metrics Changes - Merchant Services revenue increased by 66% year-over-year, with significant growth in NRS Pay accounts and credit card usage [4] - The net2phone segment generated over $2 million in adjusted EBITDA this quarter, more than double the level from the same quarter last year [13] - The BOSS Money business expanded its transaction and revenue growth rates, significantly increasing its market share in key corridors [14] Market Data and Key Metrics Changes - NRS added 1,600 net new point-of-sale terminals during the quarter, surpassing 30,000 active terminals, making it the largest POS network for C-stores in the country [12][18] - Transactions originated in the retail agent channel for BOSS Money were up 49% year-over-year, indicating strong growth in this market [32] Company Strategy and Development Direction - The company is focusing on maximizing cash flow by reducing costs and streamlining operations in its traditional communications segment [6] - Future plans for net2phone include transitioning to a new pricing plan with premium features, which is expected to drive continued ARPU expansion [20] - The company aims to strengthen its positioning in the advertising market by building a base of direct advertising customers and expanding content partnerships [19] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the growth potential in the Fintech segment and the positive trajectory of the IDT digital payments business [3][21] - The company is focused on customer acquisition and engagement, particularly in the U.S. and Latin America, to drive sustainable profitable growth [5] Other Important Information - The company is implementing a large cost-cutting initiative, with expectations for significant improvements in future quarters [7] - Management noted that SG&A expenses were higher due to one-time compensatory arrangements, but cost-cutting measures are expected to take effect moving forward [7] Q&A Session Summary Question: What drove the increase in SG&A expenses year-over-year and quarter-over-quarter? - Management explained that the increase was primarily due to higher spending related to one-time compensatory arrangements, which were non-cash charges [34] Question: How does the company plan to leverage the scale of NRS to benefit individual customers? - Management indicated that they are focused on bringing in more customers and increasing their spending rather than directly reducing costs of goods sold for retailers [36]

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 ...

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 05, 2024 (GLOBE NEWSWIRE) -- IDT Corporation (NYSE: IDT), a global provider of fintech, cloud communications, and traditional communications solutions, today reported results for the third quarter of its fiscal ...

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 05, 2024 (GLOBE NEWSWIRE) -- IDT Corporation (NYSE: IDT), a global provider of fintech, cloud communications, and traditional communications solutions, today reported results for the third quarter of its fiscal ...

Newark, NJ, June 04, 2024 (GLOBE NEWSWIRE) -- BOSS Money, the remittance and payments brand of IDT Corporation (NYSE:IDT), today announced several significant initiatives to expand its popular money transfer service, including remittances within the United States. BOSS Money's new domestic money transfer solution enables customers in the U.S., using the popular BOSS Money or BOSS Revolution apps, to send money to their recipients' U.S.-issued Visa or Mastercard-branded bank or reloadable debit cards. In mos ...

NEWARK, NJ, May 20, 2024 (GLOBE NEWSWIRE) -- IDT Corporation (NYSE: IDT), a global provider of fintech, cloud communications, and traditional communications solutions, has scheduled its report of financial and operational results for the third quarter of its fiscal year 2024 (the three months ended April 30, 2024) on Wednesday, June 5, 2024. Contact: Bill Ulrey IDT Investor Relations Phone: (973) 438-3838 E-mail: invest@idt.net ### A replay of the conference call will be available approximately three hours ...

ABOUT IDT CORPORATION IDT Corporation (NYSE: IDT) is a global provider of fintech and communications solutions through a portfolio of synergistic businesses: National Retail Solutions (NRS), through its point-of-sale (POS) platform, enables independent retailers to operate more effectively while providing advertisers and marketers with unprecedented reach into underserved consumer markets; net2phone provides enterprises and organizations with intelligently integrated cloud communications and contact center ...

Newark, NJ, May 15, 2024 (GLOBE NEWSWIRE) -- BOSS Money, the international money remittance service of IDT Corporation (NYSE:IDT), today announced that its customers sent a record number of transfers during the week leading up to Mother's Day, on May 12, 2024. "Mother's Day is always an exciting time for BOSS Money, as we help our customers celebrate their mom and show their love by sending a gift she will appreciate," said Michelle Rendo, Boss Money's VP of Marketing. Remittances Around Mother's Day Increa ...

April same-store sales increased 2.5% year-over-year Inflationary pressures subsided further - average prices increased just 0.2% year-over-year The NRS network surpassed 30,000 active terminals nationwide NEWARK, N.J., May 07, 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 April 2024. As of April 30, 2024, ...

March same-store sales jumped 7.2% year-over-year, the highest rate of increase since June 2023 Inflationary pressures remained subdued - average prices increased 0.7% year-over-year NEWARK, N.J., April 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 March 2024. As of March 31, 2024, the NRS retail netwo ...