IDT Corporation highlighted the expanding contribution of its higher-margin growth businesses during a company presentation, while executives said the company will wait for larger business scale and more favorable capital-market conditions before reconsidering a potential net2phone spin-off. The growth businesses—National Retail Solutions, BOSS Money, and net2phone—now account for about one-third of revenue and two-thirds of gross profit, and together grew revenue 17% year over year in the latest quarter. NRS reached $141 million in trailing-12-month recurring revenue, BOSS Money benefited from accelerating digital remittances, and net2phone posted a record 17% adjusted EBITDA margin after subscription revenue rose 12% year over year. IDT ended the quarter with $251 million in cash and no debt, while consolidated adjusted EBITDA rose 13% to $37.5 million. The net2phone spin-off remains delayed as IDT seeks greater scale and more favorable market conditions.
IDT CorporationIDT highlighted growth businesses now one-third of revenue and two-thirds of gross profit, with consolidated adjusted EBITDA up 13% to $37.5M and $251M cash with no debt.
IDT International Ltd