September same-store sales increased 2.2% year-over-year NEWARK, N.J., Oct. 09, 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 September 2024. As of September 30, 2024, the NRS retail network comprised approximately 32,700 active terminals nationwide, scanning purchases at approximately 28,400 independent ret ...

Financial Data and Key Metrics Changes - IDT Corporation reported a record adjusted EBITDA for the fourth quarter and full fiscal year 2024, with Q4 EBITDA reaching $25 million, the highest in the company's history [5][23]. - The company expects to surpass $100 million in consolidated EBITDA for fiscal 2025, driven by the profitability of all business segments [23]. Business Line Data and Key Metrics Changes - BOSS Money achieved over 40% year-over-year transaction volume and revenue growth in Q4, becoming EBITDA positive with approximately $4 million in positive EBITDA [4][15]. - net2phone added approximately 12,000 net new seats in Q4, including 2,000 CCaaS seats, with its adjusted EBITDA margin more than doubling compared to the previous year [4]. - The Traditional Communications segment saw a decline in EBITDA by about $11 million in fiscal 2024, but the decline is expected to moderate to around $5 million to $6 million in fiscal 2025 due to cost-cutting measures [20][21]. Market Data and Key Metrics Changes - The company is focusing on expanding its customer base in the large independent retailer market and increasing penetration of NRS Pay [4]. - BOSS Money is seeing strong growth in the Northeast and aims to grow its presence nationwide, with a focus on digital verticals [39]. Company Strategy and Development Direction - IDT plans to continue expanding NRS, BOSS Money, and net2phone, all of which are profitable and have significant growth potential [5]. - The company is committed to maximizing cash generation from each segment and returning value to shareholders through investments, share buybacks, and dividends [5]. Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in entering fiscal 2025 with strong momentum and highlighted the importance of long-term customer relationships over immediate margin expansion [17]. - The company anticipates a slight increase in consolidated revenue for fiscal 2025 as growth businesses offset declines in traditional segments [22]. Other Important Information - The company is deploying hundreds of new locations monthly and expanding its advertising tech while focusing on operational efficiencies [4][5]. - New product launches, such as kiosks and the Panther POS system, are expected to drive additional growth [33]. Q&A Session Summary Question: Impact of MetaSwitch end-of-life on net2phone - Management indicated that it has no effect on their business [7]. Question: Migration progress to own platform for net2phone - Management expects to start migrating more customers over the next quarters, with no new customers going onto any other platform [8]. Question: Timeline for full transition to own platform - No specific timeline was provided [9]. Question: Conditions for potential NRS spinoff - Management is focused on building NRS into a multibillion-dollar company before considering a spinoff [10]. Question: Incremental margins for BOSS Money post-EBITDA positivity - Management emphasized customer retention over margin expansion, focusing on long-term relationships [12][17]. Question: Revenue growth expectations for Traditional segment - Management expects the decline in Traditional segment EBITDA to be less severe in fiscal 2025 due to cost-cutting measures [21]. Question: Growth sources for BOSS Money - Management noted that they are taking market share from competitors and improving brand recognition [26][28]. Question: Goals for NRS in 2025 - NRS aims to grow its POS network by approximately 6,000 locations annually and expects EBITDA to grow by 30% [31].

IDT Corp (IDT, Financial) released its 8-K filing on October 8, 2024, showcasing robust financial results for the fourth quarter and fiscal year 2024. The company, a multinational holding entity operating primarily in telecommunications and payment industries, reported significant growth across its business segments, including Fintech, National Retail Solutions (NRS), net2phone, and Traditional Communications. Oct 08, 2024 Powered by 0 l Performance and Challenges In the fourth quarter, IDT Corp (IDT, Finan ...

4Q24 YoY revenue growth rates: NRS* +42%; BOSS Money +41%; net2phone* +15% 4Q24 income from operations +68% YoY to $20.1 million; Adjusted EBITDA** +40% to a record $25.2 million 4Q24 GAAP EPS increased YoY to $1.45 from $0.31; Non-GAAP EPS increased to $0.57 from $0.36 NEWARK, NJ, Oct. 08, 2024 (GLOBE NEWSWIRE) -- IDT Corporation (NYSE: IDT), a global provider of fintech, cloud communications, and traditional communications solutions, today reported results for the fourth quarter and full fiscal year 2024, ...

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].