IDT reports Q1 FY2023: income from operations up 47% to $20.2M, EPS $0.43 vs loss of $0.10

IDT CORP

2023-Q1 EPS reported $0.43 revenue$321,816,000

NRS recurring revenue up 107% to $17.8M; active POS terminals ~20,800 (+1,400 sequentially).
BOSS Money remittance revenue up 45% to $17.6M; transaction volume +35% to 2.87M.
net2phone subscription revenue up 33% to $15.5M; seats ~309,000 (+18,000 sequentially).
Consolidated revenue down 13% to $322M on 20% decline in Traditional Communications.
Net income $11.0M vs loss $2.5M; Adjusted EBITDA $24.3M (+33%); repurchased $5M of stock.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

IDT CORP reported first quarter fiscal year 2023, three months ended October 31, 2022 results: revenue $322 million, net income $11.0 million, EPS $0.43.

Period: first quarter fiscal year 2023, three months ended October 31, 2022
Revenue: $322 million
Net income: $11.0 million
EPS: $0.43
Result: reported results

Exact text from the filing

Consolidated revenue decreased 13% to $322 million, mostly as a result of a 20% decrease in the Traditional Communications segment’s revenue; ● Consolidated income from operations increased 47% to $20.2 million; ● Net income attributable to IDT increased to $11.0 million from a net loss of $2.5 million. The loss in the year-ago quarter included an unrealized $12.5 million loss on the mark-to-market value of the Company’s investment in Rafael Holdings, Inc.’s Class B common stock; ● Consolidated Adjusted EBITDA increased 33% to $24.3 million; and ● EPS increased to $0.43 from a loss per share of $0.10.

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Source: SEC EDGAR

accession 0001493152-22-034488

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