Welcome to our dedicated page for IDT Corporation Class B news (Ticker: IDT), a resource for investors and traders seeking the latest updates and insights on IDT Corporation Class B stock.
IDT Corporation (symbol: IDT) is a leading multinational holding company with diversified operations primarily in the telecommunications and payment industries. Headquartered in Newark, New Jersey, IDT operates through several key business segments: Fintech, National Retail Solutions (NRS), net2phone, and Traditional Communications.
The Fintech segment includes National Retail Solutions, an operator of a nationwide point of sale (POS) network that offers payment processing, digital advertising, transaction data, and ancillary services. It also encompasses BOSS Money, a provider of international money remittance and related value/payment transfer services.
The net2phone segment focuses on unified cloud communications and telephony services aimed at business customers. This segment is crucial for businesses seeking advanced communication solutions that enhance productivity and operational efficiency.
The Traditional Communications segment remains a cornerstone of IDT's operations, contributing a significant portion of the company's revenue. During the fourth quarters of 2023 and 2022, this segment contributed 79.0% and 83.6% of IDT’s consolidated revenue, respectively. For the fiscal years 2023 and 2022, the corresponding contributions were 81.0% and 87.2%, respectively.
IDT Corporation prides itself on its innovative culture and global reach. With a diverse team of over 1,300 employees spread across all continents, the company fosters a dynamic and entrepreneurial environment. IDT encourages in-house entrepreneurs to develop their ideas into actionable business ventures, contributing to its exciting growth trajectory.
Financially, IDT has demonstrated resilience and adaptability. The company's recent financial statements highlight its strong performance across various segments. For instance, the fintech segment, including NRS and BOSS Money, continues to show robust growth, contributing 10.5% of IDT’s consolidated revenue during the third quarter of 2024, up from 7.3% in the third quarter of 2023.
Recent achievements and ongoing projects underscore IDT's commitment to innovation and customer satisfaction. The company's latest initiatives in the fintech space, particularly in enhancing POS network capabilities and expanding remittance services, position it well for future success.
IDT Corporation remains a compelling entity within the telecommunications and payment industries, leveraging its diverse portfolio to drive sustained growth and profitability. For more information or investor inquiries, contact Bill Ulrey, IDT Investor Relations, at william.ulrey@idt.net or (973) 438-3838.
net2phone has been awarded the ‘Global Partner of the Year’ by UC Today, recognizing its outstanding performance in the unified communications industry. This accolade reflects net2phone's success in driving channel growth across global markets, achieved through a channel-centric strategy that includes competitive incentives and thorough onboarding processes. The award was determined by a panel of industry experts, highlighting net2phone’s exceptional contributions despite challenging market conditions. The company provides cloud communication solutions integrated with popular applications available in several countries.
IDT Corporation (NYSE: IDT) has rebranded its digital international remittance service to BOSS Money.
The new branding reflects its growth and innovative features aimed at enhancing cross-border financial transactions. The BOSS Money App has received high customer ratings (4.8 and 4.7 stars) and offers first-time users free transfers up to $300. With remittance services available to over 40 countries and mobile top-ups in 160 countries, IDT continues to expand its global value transfer network.
IDT Corporation (NYSE: IDT) will participate in the 2021 LD Micro Main Event investor conference from October 12-14 in Bel Air, California. CEO Shmuel Jonas will present on October 13 at 9 AM PT, discussing recent results and strategy. Following his presentation, he will hold investor meetings. Presentation materials will be accessible on the IDT website.
IDT Corporation (NYSE: IDT) reported its 4Q21 and fiscal year 2021 results, showing a consolidated revenue increase of 8% to $390 million for the quarter, and 7.5% to $1,447 million for the year. EPS for 4Q21 surged to $1.46, boosted by tax valuation reversals, while Non-GAAP EPS rose to $0.66. Significant growth was noted in net2phone's subscription revenue (+46%) and NRS revenue (+76%). However, Money Transfer revenue fell 49% amid adverse market conditions. Overall, operating income improved by 19% in the quarter and 217% for the year, indicating strong operational gains.
IDT Corporation (NYSE: IDT) announced the sale of a 2.5% stake in its National Retail Solutions (NRS) subsidiary for $10 million to Alta Fox Capital Management. Following the sale, IDT retains approximately 81% equity in NRS. The subsidiary generated $21.2 million in revenue for the year ending April 30, 2021, with a remarkable 123% year-over-year growth. IDT's CFO noted the investment aligns with NRS's strategic growth in underserved markets, while Alta Fox expressed confidence in NRS's market leadership and revenue potential.
IDT Corporation (NYSE: IDT) is set to announce its financial and operational results for Q4 and full fiscal year 2021 on October 6, 2021. The earnings release will be available on the company's investor relations website at approximately 4:30 PM Eastern. Following this, an earnings conference call will start at 5:30 PM Eastern, where management will discuss results, outlook, and strategy, followed by a Q&A session with investors. A replay of the call will be accessible until October 13, 2021.
National Retail Solutions has introduced a new security feature, the NRS POS Emergency Call Button, aimed at helping independent retailers combat rising theft and violence. This patented alarm system is discreetly integrated into the POS register, allowing store operators to silently contact police during emergencies. Currently available in New York, the feature will expand nationwide soon, following a partnership with Top Security Alarms.
net2phone has launched the net2phone Phone App for Microsoft Teams, allowing users to integrate affordable voice capabilities without needing extra licenses. This app is accessible to all Team members, on desktop or mobile, enhancing their Teams experience. It provides essential features such as making and receiving calls, call transfers, and internal calling within Teams. With this offering, net2phone aims to attract organizations that want to voice-enable Teams cost-effectively, complementing their existing native integrations with various CRMs.
National Retail Solutions (NRS), a subsidiary of IDT, announced a multi-year renewal of a data license with Swisher International for their point-of-sale (POS) scanner data. NRS operates a leading POS network for over 13,100 independent retailers across the U.S. The collaboration aims to enhance insights for independent tobacco retailers, enabling Swisher to develop tailored brand strategies and seize store-level opportunities. This partnership highlights NRS's unique dataset's potential for growth in a challenging retail segment.
net2phone, a subsidiary of IDT, has launched a HIPAA compliance program for its communication solutions. This initiative enables healthcare providers to utilize net2phone’s HIPAA-eligible services, ensuring that data privacy remains a priority. New features include call recording, voicemail, and voicemail transcription. Businesses can now access robust cloud communications including unlimited calling, advanced call routing, and integrations with popular applications, all at competitive rates. The program is expected to enhance service offerings to healthcare entities.
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