IDT Corporation Reports Fourth Quarter and Fiscal Year 2022

Highest Levels of Quarterly and Full Fiscal Year Income from Operations since 2015

Highest Levels of Quarterly and Full Fiscal Year Adjusted EBITDA in Company History

Fintech and Cloud Communications Businesses Drive Gains

NEWARK, NJ, Oct. 06, 2022 (GLOBE NEWSWIRE) — IDT Corporation (NYSE: IDT), a global provider of fintech, cloud communications, and traditional communications services, today reported results for the fourth quarter and full fiscal year 2022, the three and twelve months ended July 31, 2022.

FOURTH QUARTER AND FISCAL YEAR 2022 HIGHLIGHTS

(Throughout this release, unless otherwise noted, results for the fourth quarter of fiscal year 2022 (4Q22) are compared to the fourth quarter of fiscal year 2021 (4Q21), and results for FY2022 are compared to FY2021. All earnings per share (EPS) and other ‘per share’ results are per diluted share unless otherwise noted.)

• Fintech and cloud communications businesses — revenue and related metrics:
  • National Retail Solutions (NRS) recurring revenue^* increased 157% to $17.7 million in 4Q22. FY2022 recurring revenue increased 129% to $45.3 million. Net active POS terminals increased by approximately 1400 during 4Q22 to end the quarter with approximately 19,400;
  • BOSS Money remittance revenue increased 56% to $17.0 million in 4Q22. Transaction volume increased by 31% to 2.7 million. FY2022 revenue increased 16% to $57.5 million with transaction volume increasing 24% to 9.4 million;
  • net2phone subscription revenue^* increased 37% to $15.1 million in 4Q22. Seats served increased by approximately 12,000 sequentially to end the quarter with approximately 291,000. FY2022 subscription revenue increased 38% to $53.6 million;
• Consolidated revenue in 4Q22 decreased 16% year-over-year to $329 million from $390 million as a result of a 23% decrease in the Traditional Communications segment’s revenue. FY2022 consolidated revenue decreased 6% to $1,364 million from $1,447 million;
• Consolidated income…