IDT Corporation Shines in Q3 2024 Earnings Call – CEO Reveals High Growth Strategies

Newark, NJ – IDT Corporation (NYSE: IDT) held its Q3 2024 Earnings Conference Call on June 5, 2024, at 5:30 PM ET. CEO Shmuel Jonas and CFO Marcelo Fischer were among the key company participants in the call. During the call, the company’s management discussed financial and operational results for the three-month period ending April 30, 2024. The focus was on IDT’s high-growth, high-margin businesses that contributed to a 310 basis point improvement in consolidated gross margin.

One of IDT’s successful segments, NRS, achieved significant growth by surpassing 30,000 active terminals, making it the largest POS network for C-stores in the country. net2phone also showed promising results with a doubling of adjusted EBITDA year-over-year in the current quarter. Meanwhile, BOSS Money had a strong quarter in the Fintech segment, achieving positive adjusted EBITDA for the first time.

The company’s traditional communications segment also saw improvements, particularly in turning around the IDT digital payments business. IDT’s management highlighted the potential for sustainable profitable growth in each of its three high-growth businesses and expressed optimism about future prospects.

Looking ahead, IDT aims to continue enhancing its performance by focusing on customer acquisition, cost control, and improving unit economics. The company’s strategic initiatives include expanding its agent network, cross-selling services within its ecosystem, and acquiring new customers efficiently.

IDT’s consolidated gross profit has seen consistent increases over the past four quarters, driven by its high-growth businesses. The company plans to deliver stronger bottom-line results while returning value to shareholders through stock repurchases and a quarterly dividend. The management team is optimistic about the future growth potential of IDT and remains focused on driving sustainable profitability across its various business segments.

In the Q&A session, participants raised questions about cost-cutting initiatives, the scalability of NRS’ benefits to individual customers, and future strategies for growth. The management team provided insights into these areas, addressing concerns and outlining plans for further improvements in the company’s performance.

In conclusion, IDT Corporation’s Q3 2024 Earnings Conference Call shed light on the company’s strong performance and growth prospects in its high-margin businesses. With a focus on profitability, customer acquisition, and strategic initiatives, IDT aims to continue its upward trajectory and deliver value to both customers and shareholders.