The following is a summary of the IDT Corporation (IDT) Q3 2024 Earnings Call Transcript:
Financial Performance:
IDT reported strong Q3 results with a 310 basis point improvement in consolidated gross margin.
Net2phone's adjusted EBITDA doubled year-over-year, signaling improved operating leverage.
NRS' income from operations and adjusted EBITDA more than doubled year-over-year.
BOSS Money achieved its first EBITDA positive quarter and Fintech segment reached positive adjusted EBITDA overall.
Business Progress:
NRS surpassed 30,000 active terminals, growing its POS network significantly.
Net2phone is transitioning to a pricing plan with premium features to drive ARPU expansion.
BOSS Money expanded transaction and revenue growth rates, effectively gaining market share.
Opportunities:
IDT is focused on expanding NRS Pay accounts and merchant service revenues which grew 66% year-over-year.
BOSS Money's three-pronged growth strategy aims to double transaction volumes rapidly.
More details: IDT Corp IR
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