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 ...

Core Insights - IDT Corporation reported strong financial results for the third quarter of fiscal year 2024, with significant growth in recurring revenue and adjusted EBITDA across its key business segments [1][4][6]. Consolidated Results - Consolidated revenue reached approximately $299.6 million, a slight increase from $299.3 million year-over-year [6]. - Consolidated gross profit increased by 11% to a record $97.0 million, with a gross profit margin improvement of 310 basis points to 32.4% [6][7]. - Income from operations rose to $11.4 million from $10.4 million, while net income attributable to IDT decreased to $5.6 million from $6.9 million due to higher effective income tax rates and foreign currency transaction losses [6][7]. - Adjusted EBITDA increased to $20.6 million from $20.5 million [6]. National Retail Solutions (NRS) - NRS achieved a 45% year-over-year increase in recurring revenue, totaling $24.0 million, and added approximately 1,600 net active POS terminals, bringing the total to about 30,300 [6][10]. - The segment contributed 8.6% of IDT's consolidated revenue in 3Q24, up from 6.0% in 3Q23 [8]. - Total revenue for NRS increased by 42.3% to $25.7 million, driven by strong growth in Merchant Services and SaaS Fees [9][11]. net2phone - net2phone's subscription revenue grew by 17% to $20.0 million, with total revenue increasing by 12.4% to $20.7 million [6][13]. - The segment contributed 6.9% of IDT's consolidated revenue in 3Q24, up from 6.2% in 3Q23 [12]. - net2phone added approximately 9,000 net seats served, reaching a total of about 384,000 [6][14]. BOSS Money (Fintech Segment) - BOSS Money transactions increased by 44% year-over-year to 4.7 million, with revenue rising by 42% to $27.6 million [6][19]. - The Fintech segment contributed 10.5% of IDT's consolidated revenue in 3Q24, up from 7.3% in 3Q23 [15]. - This segment achieved positive adjusted EBITDA for the first time, reflecting strong growth in transactions and revenue [19]. Traditional Communications - Traditional Communications revenue totaled $221.7 million, a decrease of 8.0% from the previous year, primarily due to declines in BOSS Revolution Calling and IDT Global [20]. - The segment contributed 74.0% of IDT's consolidated revenue in 3Q24, down from 80.5% in 3Q23 [19]. Other Financial Metrics - As of April 30, 2024, IDT held $174.0 million in cash and equivalents, with total current assets of $408.5 million and current liabilities of $277.8 million [22]. - Net cash provided by operating activities during 3Q24 was $9.6 million, an increase from a net cash used of $6.9 million in 3Q23 [23].

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 ...

Core Insights - BOSS Money, a remittance and payments brand of IDT Corporation, has launched several initiatives to enhance its money transfer services, including domestic remittances within the U.S. [1][2] Group 1: Domestic Money Transfer Service - BOSS Money's new domestic money transfer solution allows U.S. customers to send money to recipients' U.S.-issued Visa or Mastercard-branded bank or reloadable debit cards, with most transactions credited within minutes [2]. - The service is accessible even to those without a smartphone, internet access, or a bank account, making financial services more inclusive [3]. Group 2: International Money Transfer Enhancements - Customers can now transfer funds directly to recipients' in-country Visa and, in some cases, Mastercard-branded debit or reloadable cards for international transactions, with availability in popular Latin American and African destinations, as well as the Philippines [4]. Group 3: Cost-Effective Payment Options - BOSS Money has introduced reduced transaction fees for customers funding transfers directly from their bank accounts instead of using debit or credit cards, available through both the BOSS Money and BOSS Revolution apps [5]. - The new direct-to-card delivery and affordable bank account payment options enhance convenience and affordability for sending money domestically and internationally [6].

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 ...

Core Viewpoint - IDT Corporation is set to release its financial and operational results for Q3 of fiscal year 2024 on June 5, 2024, highlighting its ongoing commitment to transparency and investor engagement [1]. Financial Reporting - The earnings release will be available on the IDT investor relations website at approximately 4:30 PM Eastern on June 5, 2024 [1]. - An earnings conference call will follow at 5:30 PM Eastern, featuring management's discussion of the results and a Q&A session with investors [2]. Conference Call Details - Investors can participate in the conference call by dialing 1-888-506-0062 (toll-free from the US) or 1-973-528-0011 (international), using the participant access code: 217002 [2]. - A replay of the conference call will be available approximately three hours after the call concludes and can be accessed until June 19, 2024 [3]. Company Overview - IDT Corporation operates in fintech and communications solutions, with a diverse portfolio including National Retail Solutions, net2phone, BOSS Money, IDT Digital Payments, and IDT Global [4]. - The company’s services aim to enhance operational efficiency for independent retailers, provide integrated cloud communications, facilitate international remittances, and offer reliable prepaid products and services [4].

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 ...