May same-store sales increased 4.9% year-over-year^*

NEWARK, N.J., June 09, 2025 (GLOBE NEWSWIRE) — NRSInsights, a provider of sales data and analytics drawn from retail transactions processed through the National Retail Solutions (NRS) point-of-sale (POS) platform, today announced comparative retail same-store sales results for May 2025.

As of May 31, 2025, the NRS retail network comprised approximately 36,000 active terminals nationwide, scanning purchases at approximately 31,300 independent retailers including convenience stores, bodegas, liquor stores, grocers, and tobacco and sundries sellers, predominantly serving urban consumers.

May Highlights^*

(^*Same-store sales, unit sales, transactions, and average price data refer to May 2025 and are compared to May 2024 unless otherwise noted. All comparisons are provided on a “per calendar day” basis to remove from consideration variability in the number of days per month or three-month period.)

• SALES

• • Same-store sales increased 4.9% year-over-year. In the previous month (April 2025), same-store sales had increased 4.3% year-over-year.

• • Same-store sales increased 3.8% compared to the previous month (April 2025). Same-store sales in April 2025 had increased 0.6% compared to the previous month (March 2025).
  • For the three months ended May 31^st, 2025, same-store sales increased 3.3% compared to the corresponding three months a year ago.

• UNITS SOLD
  
  • Units sold increased 3.6% year-over-year. In the previous month (April 2025), units sold had increased 2.5% year-over-year.
  • Units sold increased 2.1% compared to the previous month (April 2025). Units sold in April 2025 had decreased 0.8% compared to the previous month (March 2025).

• BASKETS (TRANSACTIONS) PER STORE
  • Baskets increased 0.9% year-over-year. In the previous month (April 2025), baskets had increased 1.3% year-over-year.
  • Baskets increased 3.1% compared to the previous month (April 2025). Baskets in April 2025 had increased 2.7% compared to the previous month (March 2025).
• AVERAGE PRICES
  • A dollar-weighted average of prices for the top 500 items purchased increased 2.9% year-over-year, a higher rate of increase than the 2.3% year-over-year increase recorded in April 2025.

Retail Trade Comparative Data

The table below provides historical comparative data with the U.S. Commerce Department’s Advance Monthly Retail Trade same-store sales data excluding food service:

Over the past twelve months, the NRS network’s three-month moving average same-store sales have outpaced the US Commerce Department’s Advance Monthly Retail Trade data, excluding food services, by 0.1% on average. In April, however, the Department’s three-month rolling average increase exceeded the NRS network’s by 1.8%.

The NRSInsights data in the chart above have not been adjusted to reflect inflation, demographic distributions, seasonal buying patterns, item substitution, days per month, or other factors that may facilitate comparisons to other periods, to other same-store retail sales data, or to the U.S. Commerce Department’s retail data.

Commentary from Brandon Thurber (VP, Data Sales at NRS)

“NRS same-store-sales accelerated in May, increasing 4.9% year-over-year compared to 4.3% last month, with robust year-over-year increases in baskets and units. It is the highest annual rate of increase we have recorded since November. Inflation, as gauged by prices on the largest selling items, also picked up a bit, climbing to 2.9% from 2.3% in April.

“Prepared cocktails ranked among the top categories for absolute dollar growth. Similarly, wine-based cocktails posted strong gains. The two trends within the alcoholic beverage market signal a consumer shift to convenient, flavorful cocktails.

“In the snacking aisle, chocolate defied some of the category headwinds to deliver year-over-year growth. Performance shakes continued their upward trend-driven in part by evolving consumer behaviors and product diversification beyond workout-focused formulations.”

NRSInsights Reports

The NRSInsights monthly Same-Store Retail Sales Reports are intended to provide timely topline data reflective of sales at NRS’ network of independent, predominantly urban, retail stores.

Same-store data comparisons of May 2025 with May 2024 are derived from approximately 223 million transactions processed through the approximately 22,200 stores on the NRS network that scanned transactions in both months. Same-store data comparisons of May 2025 with April 2025 are derived from approximately 271 million transactions processed through approximately 30,200 stores.

Same-store data comparisons for the three months ended May 31, 2025 with the year-ago three months are derived from approximately 617 million scanned transactions processed through those stores that scanned transactions in both three-month periods.

NRS POS Platform

The NRS platform predominantly serves small-format, independent, retail stores nationwide including convenience stores, bodegas, liquor stores, grocers, and tobacco and sundries sellers. These independent retailers operate in all 50 states as well as the District of Columbia, and in 205 of the 210 designated market areas (DMAs) in the United States. During May 2025, NRS’ POS terminals processed $2.1 billion in sales (+18% year-over-year) across 143 million transactions.

About National Retail Solutions (NRS):

National Retail Solutions operates the largest point-of-sale (POS) terminal-based platform and digital payment processing service for independent retailers nationwide. Retailers utilize NRS offerings to process transactions and effectively manage their businesses. Consumer packaged goods (CPG) suppliers, brokers, analytics firms, and advertisers access the terminal’s digital display network to reach these retailers’ predominantly urban, multi-cultural shopper base, and to harness transaction data-based learnings to identify growth opportunities and measure execution and returns on marketing investment. NRS is a subsidiary of IDT Corporation (NYSE: IDT).

All statements above that are not purely about historical facts, including, but not limited to, those in which we use the words “believe,” “anticipate,” “expect,” “plan,” “intend,” “estimate,” “target” and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent our current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors. Our filings with the SEC provide detailed information on such statements and risks, and should be consulted along with this release. To the extent permitted under applicable law, IDT assumes no obligation to update any forward-looking statements.

NRSInsights Contact:
Brandon Thurber
VP, Data Sales & Client Success at NRS
National Retail Solutions
Brandon.Thurber@nrsplus.com

IDT Corporation Contact:
Bill Ulrey
william.ulrey@idt.net

# # #

Gross Profit +15% Year-over-Year to $112 MM; Record Gross Profit Margin of 37.1%
Income from Operations +133% to $27 MM; Adjusted EBITDA +57% to $32 MM
GAAP EPS Increased to $0.86 from $0.22; Non-GAAP EPS Increased to $0.90 from $0.38

NEWARK, NJ, June 05, 2025 (GLOBE NEWSWIRE) — IDT Corporation (NYSE: IDT), a global provider of fintech, cloud communications, and traditional communications solutions, today reported results for its third quarter fiscal year 2025, the three months ended April 30, 2025.

THIRD QUARTER HIGHLIGHTS

(Throughout this release, unless otherwise noted, results for the third quarter of fiscal year 2025 (3Q25) are compared to the third quarter of fiscal year 2024 (3Q24). All earnings per share (EPS) and other ‘per share’ results are per diluted share.)

•

Key Businesses / Segments

NRS

Recurring revenue: +23% to $29.4 million;

Income from operations: +29% to $6.2 million;

Adjusted EBITDA: +29% to $7.2 million;

‘Rule of 40’ score: 49;

BOSS Money / Fintech segment

BOSS Money transactions: +27% to 6.0 million;

BOSS Money revenue: +25% to $34.4 million;

Fintech segment gross profit: +31% to $22.6 million;

Fintech segment income from operations: +$4.9 million, to $4.3 million;

Fintech segment Adjusted EBITDA: +$4.8 million, to $5.0 million;

net2phone

Subscription revenue: +7% to $21.5 million (+11% on a constant currency basis);

Income from operations: +188% to $1.4 million;

Adjusted EBITDA: +50% to $3.2 million;

Traditional Communications

Gross profit: +5% to $43.4 million;

Income from operations: +39% to $17.3 million;

Adjusted EBITDA: +30% to $19.3 million;

•

IDT Consolidated

Revenue: +1% to $302.0 million;

Gross profit (GP) / margin: GP +15% to $112.0 million; GP margin +470 bps to 37.1%;

Income from operations: +133% to $26.6 million;

GAAP EPS: Increased to $0.86 from $0.22;

Non-GAAP EPS: Increased to $0.90 from $0.38;

Adjusted EBITDA: +57% to $32.2 million;

CapEx: +14% to $5.4 million.

REMARKS BY SHMUEL JONAS, CEO

IDT’s third quarter was solid, with strong year-over-year gains, while slightly softer than our second quarter in part because of expected seasonal factors. Year-over-year revenue growth, and continued expansion of each of our business segments’ bottom-line results, drove a 133% year-over-year increase in consolidated income from operations, a 57% increase in consolidated Adjusted EBITDA, and a 290% increase in EPS.

At NRS, recurring revenue increased 23% year-over-year, powered by a 37% revenue increase from NRS’ largest vertical, Merchant Services, and a 33% increase in SaaS Fees, which more than offset a 12% decrease in Advertising & Data revenue. Income from operations and Adjusted EBITDA were both up by 29% year-over-year, and the business has generated a record $32 million in Adjusted EBITDA over the past twelve months.

Looking ahead, we continue to focus on developing new offerings that leverage the NRS platform to enable retailers to compete more effectively with large retail chains. For instance, independent neighborhood retailers have not yet meaningfully benefitted from the consumer shift to online ordering and delivery. We are working to change that by integrating our network with online ordering and delivery platforms, enabling retailers on the NRS network to provide hyper-fast local delivery of sundries and prepared foods. The 100 or so retailers we have signed up so far are already receiving, in aggregate, over 2000 delivery orders a week.

BOSS Money, our remittance platform, increased transactions by 27% and revenue by 25%. The growth rates have been impacted by the deliberate shift we made last summer to prioritize gross profit per transaction in our retail channel rather than market share, and by a recent shift in customer preferences toward larger send amounts per remittance through fewer transactions. The Fintech segment, which includes BOSS Money and early stage fintech initiatives, generated over $5 million in Adjusted EBITDA – compared to $244 thousand in the year ago quarter. Looking ahead, Boss Money is working on initiatives to drive sustained long-term growth and innovations that reduce cross border friction and increase profitability.

net2phone continued its steady progress with balanced growth in the U.S., Brazil, and Mexico. The team has done a great job growing its business while holding the line on overhead. net2phone’s Adjusted EBITDA margin reached 15% in 3Q25. net2phone began to offer its AI Agents this quarter and customers are already seeing the benefits, including enhanced efficiency. Even as we deploy AI Agents refined for specific market verticals, we are preparing to launch another AI-powered service which internally we refer to as ‘Coach.’ We think that it will be very successful.

In our Traditional Communications segment, income from operations and Adjusted EBITDA both jumped by over 30% year-over-year to $17.3 million and $19.3 million, respectively, underscoring that this segment continues to be a long-term cash generator.

I want to wrap up by thanking the millions of customers who put some of their hard-earned wages to work through our BOSS offerings, and the business customers around the world who rely on us to enhance their businesses and communications. Our ability to provide these services depends on the dedication of our employees who have been executing and innovating on so many fronts, and on our stockholders who entrust us with their capital. I am grateful for your continued patronage and support.

(This release discloses certain Non-GAAP financial measures (Adjusted EBITDA, Non-GAAP EPS and NRS ‘Rule of 40’) as well as certain Key Performance Metrics (net2phone subscription revenue, netphone constant currency subscription revenue growth rate, net2phone operating margin, net2phone Adjusted EBITDA margin, NRS Monthly Average Recurring Revenue, and BOSS Money transactions and digital send volume). Please see the explanations of those measures and metrics, the reasons for their inclusion and reconciliations at the end of this release.)

3Q25 RESULTS BY SEGMENT

National Retail Solutions (NRS)

National Retail Solutions (NRS)
(Terminals and accounts at end of period. $ in millions, except for average revenue per terminal)

		3Q25				2Q25				3Q24				3Q25-3Q24 (% Δ)
Terminals and payment processing accounts
Active POS terminals			35,600				34,800				30,300				+17.6	%
Payment processing accounts			25,500				23,900				19,500				+31.1	%
Recurring revenue
Merchant Services & Other		$	19.7			$	18.1			$	14.4				+37.3	%
Advertising & Data		$	5.9			$	10.0			$	6.7				(12.3		)%
SaaS Fees		$	3.9			$	3.5			$	2.9				+32.8		%
Total recurring revenue		$	29.4			$	31.6			$	24.0				+22.9	%
POS terminal sales		$	1.7			$	1.3			$	1.8				(2.9		)%
Total revenue		$	31.1			$	33.0			$	25.7				+21.1	%
Monthly average recurring revenue per terminal		$	279			$	310			$	271				+3.0		%
Gross profit		$	28.4			$	30.3			$	22.1				+28.4		%
Gross profit margin			91.3	%			91.8	%			86.1	%			+520		bps
Technology & development		$	2.3			$	2.2			$	1.7				+32.5		%
SG&A		$	20.0			$	19.0			$	15.7				+27.8		%
Income from operations		$	6.2			$	9.1			$	4.8				+29.3		%
Adjusted EBITDA		$	7.2			$	10.1			$	5.6				+28.6		%
CapEx		$	1.9			$	0.9			$	0.9				+115.2		%

NRS Take-Aways / Updates:

•

NRS added approximately 900 net active terminals and approximately 1,600 net payment processing accounts during 3Q25. As mentioned in the prior quarter’s earnings release, net active terminal additions for 3Q25 included churn of approximately 300 terminals operating in seasonal stores.

•

The 37% year-over-year increase in Merchant Services & Other revenue was driven by the increase in payment processing accounts, and by higher merchant services revenue per account, reflecting in part the ongoing, gradual migration of customer payment preference from cash to credit and debit cards.

•

NRS Advertising & Data revenue declined 12.3% year-over-year due to NRS’ decision to slow sales to one large programmatic partner in order to limit potential bad debt risk exposure. NRS’ direct channel advertising sales, as well as sales to other programmatic partners, remained robust.

•

NRS has begun rolling out the first of several planned integrations of its POS platform with leading online ordering and delivery services. The first integration, with DoorDash, went live this quarter.

Fintech

Fintech
(Transactions and $s in millions, except for average revenue per transaction)

		3Q25				2Q25				3Q24				3Q25-3Q24 (% Δ, $)
BOSS Money transactions			6.0				5.7				4.7					+27.0	%
Fintech Revenue
BOSS Money		$	34.4			$	33.5			$	27.6					+24.7	%
Other		$	4.2			$	3.3			$	3.9					+7.0	%
Total Revenue		$	38.6			$	36.8			$	31.5					+22.5	%
Gross profit		$	22.6			$	21.7			$	17.3					+30.6	%
Gross profit margin			58.5	%			58.9	%			54.9	%				+360	bps
Technology & development		$	2.2			$	2.3			$	2.5					(11.9	)%
SG&A		$	16.0			$	16.3			$	15.3					+5.2	%
Income (loss) from operations		$	4.3			$	3.1			$	(0.6	)			+$	4.9
Adjusted EBITDA		$	5.0			$	3.9			$	0.2				+$	4.8
CapEx		$	0.8			$	0.8			$	1.0					(19.8	)%

Fintech Take-Aways:

•	The 27% increase in BOSS Money transactions comprised a 32% year-over-year increase in digital channel transactions and an 8% increase in retail channel transactions.

•	BOSS Money revenue increased 25% year-over-year driven by a 31% increase in digital channel revenue.

•

Digital channel send volume, or the amount of principal transferred by BOSS Money customers using the BOSS Money and BOSS Revolution apps, grew 40% year-over-year as customers increased their amount sent per transaction while reducing the frequency of transactions. BOSS Money is testing strategies to optimize pricing given this recent dynamic.

•	The robust increases in the Fintech segment’s income from operations and Adjusted EBITDA were driven primarily by BOSS Money revenue and gross margin growth, coupled with improved operating leverage as BOSS Money continues to scale.

net2phone

net2phone
(Seats in thousands at end of period. $ in millions)

		3Q25				2Q25				3Q24				3Q25-3Q24 (% Δ)
Seats			415				410				384				+7.9	%
Revenue
Subscription revenue		$	21.5			$	21.0			$	20.0				+7.4	%
Other revenue		$	0.5			$	0.5			$	0.6				(25.9	)%
Total Revenue		$	22.0			$	21.5			$	20.7				+6.4	%
Gross profit		$	17.5			$	17.0			$	16.4				+6.9	%
Gross profit margin			79.6	%			79.2	%			79.2	%			+40	bps
Technology & development		$	2.9			$	2.8			$	2.8				+4.8	%
SG&A		$	13.0			$	13.0			$	13.0				(0.3	)%
Income from operations		$	1.4			$	1.1			$	0.5				+188	%
Adjusted EBITDA		$	3.2			$	2.9			$	2.1				+50.2	%
CapEx		$	1.4			$	1.8			$	1.6				(12.5	)%

net2phone Take-Aways:

•

The 8% year over year increase in total seats served was powered by continued expansion in key markets led by the U.S., Brazil, and Mexico. CCaaS seats served, which generate significantly higher revenue and margin per seat, increased by 9% year-over year.

•

Subscription revenue increased by 7% year-over-year. The increase was tempered by the FX impact of a strengthened U.S. dollar versus local currencies in Latin America. On a constant currency basis, subscription revenue increased by 11% year over year, significantly higher than its rate of seat growth, as net2phone focuses on increasing ARPU.

•

Income from operations increased 188% and Adjusted EBITDA increased 50% year-over-year, as operating margin increased to 6% from 2%, and Adjusted EBITDA margin increased to 15% from 10% in 3Q24.

•

In 3Q25, net2phone began to deploy AI Agents, scalable virtual assistants providing exceptional customer experiences across sales, support, and administrative tasks. AI Agents have the potential to become significant revenue growth drivers in the coming quarters.

•

net2phone is also preparing to launch an AI-powered offering that analyzes interactions to deliver real-time insights and personalized coaching for optimized performance.

Traditional Communications

Traditional Communications
($ in millions)

		3Q25				2Q25				3Q24				3Q25-3Q24 (% Δ)
Revenue
IDT Digital Payments		$	102.6			$	101.6			$	101.6				+1.0	%
BOSS Revolution		$	51.7			$	53.3			$	63.2				(18.1	)%
IDT Global		$	50.0			$	51.3			$	50.1				(0.0	)%
Other		$	5.9			$	5.8			$	6.9				(14.9	)%
Total Revenue		$	210.2			$	212.0			$	221.7				(5.2	)%
Gross profit		$	43.4			$	43.1			$	41.2				+5.3	%
Gross profit margin			20.7	%			20.3	%			18.6	%			+210	bps
Technology & development		$	5.4			$	5.4			$	5.6				(4.3	)%
SG&A		$	20.5			$	19.4			$	22.7				(9.5	)%
Income from operations		$	17.3			$	18.1			$	12.5				39.2	%
Adjusted EBITDA		$	19.3			$	20.2			$	14.9				30.1	%
CapEx		$	1.3			$	1.2			$	1.2				+5.6	%

Traditional Communications Take-Aways:

•	Even as revenue decreased continuing an expected trend, gross profit increased year over year and sequentially.

•	Income from operations and Adjusted EBITDA benefitted from the growth in gross profit and the reduction in SG&A expense.

OTHER FINANCIAL RESULTS

Consolidated results for all periods presented include corporate overhead. In 3Q25, Corporate G&A expense increased to $2.7 million from $2.3 million in 3Q24.

As of April 30, 2025, IDT held $223.8 million in cash, cash equivalents, debt securities, and current equity investments. Also at April 30, 2025, current assets totaled $498.3 million and current liabilities totaled $287.2 million. The Company had no outstanding debt at the quarter end.

Net cash provided by operating activities was $75.7 million in 3Q25 compared to $9.5 million in 3Q24. Exclusive of changes in customer funds deposits at IDT’s Fintech segment, net cash provided by operating activities was $66.1 million in 3Q25 compared to $8.2 million in 3Q24. The large, year-over-year increase in cash reflects, for the most part, the timing of disbursement prefunding payments made by IDT to cover anticipated BOSS Money weekly remittance activity.

Capital expenditures increased to $5.4 million in 3Q25 from $4.7 million in 3Q24.

DIVIDEND

The Board of Directors of IDT Corporation has approved payment of a quarterly dividend of $0.06 on IDT’s Class A and Class B Common stock. Payment will be made on June 18, 2025 to stockholders of record at the close of business on June 9^th.

IDT EARNINGS ANNOUNCEMENT INFORMATION

This release is available for download in the “Investors & Media” section of the IDT Corporation website (https://www.idt.net/investors-and-media) and has been filed on a current report (Form 8-K) with the SEC.

IDT will host an earnings conference call beginning at 5:00 PM Eastern today with management’s discussion of results followed by Q&A with investors. To listen to the call and participate in the Q&A, dial 1-888-506-0062 (toll-free from the U.S.) or 1-973-528-0011 (international) and provide the following access code: 491722.

A replay of the conference call will be available approximately three hours after the call concludes through June 19, 2025. To access the call replay, dial 1-877-481-4010 (toll-free from the U.S.) or 1-919-882-2331 (international) and provide this replay passcode: 52353. The replay will also be accessible via streaming audio at the IDT investor relations website.

ABOUT IDT CORPORATION

IDT Corporation (NYSE: IDT) is a global provider of fintech and communications solutions through a portfolio of synergistic businesses: National Retail Solutions (NRS), through its point-of-sale (POS) platform, enables independent retailers to operate more effectively while providing advertisers and marketers with unprecedented reach into underserved consumer markets; BOSS Money facilitates innovative international remittances and fintech payments solutions; net2phone provides enterprises and organizations with intelligently integrated cloud communications and contact center services across channels and devices; IDT Digital Payments and the BOSS Revolution calling service make sharing prepaid products and services and speaking with friends and family around the world convenient and reliable; and, IDT Global and IDT Express enable communications services to provision and manage international voice and SMS messaging.

All statements above that are not purely about historical facts, including, but not limited to, those in which we use the words “believe,” “anticipate,” “expect,” “plan,” “intend,” “estimate,” “target” and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent our current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors. Our filings with the SEC provide detailed information on such statements and risks and should be consulted along with this release. To the extent permitted under applicable law, IDT assumes no obligation to update any forward-looking statements.

CONTACT

IDT Corporation Investor Relations
Bill Ulrey
william.ulrey@idt.net
973-438-3838

IDT CORPORATION

CONSOLIDATED BALANCE SHEETS

		April 30, 2025				July 31, 2024
		(Unaudited)
		(in thousands, except per share data)
Assets
Current assets:
Cash and cash equivalents		$	199,948			$	164,557
Restricted cash and cash equivalents			123,129				90,899
Debt securities			18,683				23,438
Equity investments			5,187				5,009
Trade accounts receivable, net of allowance for credit losses of $8,416 at April 30, 2025 and $6,352 at July 31, 2024			43,084				42,215
Settlement assets, net of reserve of $1,869 at April 30, 2025 and $1,866 at July 31, 2024			25,160				22,186
Disbursement prefunding			43,381				30,736
Prepaid expenses			13,837				17,558
Other current assets			25,865				25,927
Total current assets			498,274				422,525
Property, plant, and equipment, net			38,980				38,652
Goodwill			26,454				26,288
Other intangibles, net			5,372				6,285
Equity investments			6,904				6,518
Operating lease right-of-use assets			2,013				3,273
Deferred income tax assets, net			16,106				35,008
Other assets			6,805				11,546
Total assets		$	600,908			$	550,095
Liabilities, redeemable noncontrolling interest, and equity
Current liabilities:
Trade accounts payable		$	17,250			$	24,773
Accrued expenses			91,408				103,176
Deferred revenue			27,513				30,364
Customer funds deposits			121,765				91,893
Settlement liabilities			14,105				12,764
Other current liabilities			15,121				16,374
Total current liabilities			287,162				279,344
Operating lease liabilities			1,213				1,533
Other liabilities			1,682				2,662
Total liabilities			290,057				283,539
Commitments and contingencies
Redeemable noncontrolling interest			11,357				10,901
Equity:
IDT Corporation stockholders’ equity:
Preferred stock, $.01 par value; authorized shares-10,000; no shares issued			–				–
Class A common stock, $.01 par value; authorized shares-35,000; 3,272 shares issued and 1,574 shares outstanding at April 30, 2025 and July 31, 2024			33				33
Class B common stock, $.01 par value; authorized shares-200,000; 28,528 and 28,177 shares issued and 23,656 and 23,684 shares outstanding at April 30, 2025 and July 31, 2024, respectively			285				282
Additional paid-in capital			307,757				303,510
Treasury stock, at cost, consisting of 1,698 and 1,698 shares of Class A common stock and 4,872 and 4,493 shares of Class B common stock at April 30, 2025 and July 31, 2024, respectively			(143,853	)			(126,080	)
Accumulated other comprehensive loss			(19,812	)			(18,142	)
Retained earnings			141,753				86,580
Total IDT Corporation stockholders’ equity			286,163				246,183
Noncontrolling interests			13,331				9,472
Total equity			299,494				255,655
Total liabilities, redeemable noncontrolling interest, and equity		$	600,908			$	550,095

IDT CORPORATION
CONSOLIDATED STATEMENTS OF INCOME
(Unaudited)

		Three Months Ended April 30,								Nine Months Ended April 30,
		2025				2024				2025				2024
		(in thousands, except per share data)
Revenues		$	301,985			$	299,643			$	914,901			$	896,946
Direct cost of revenues			190,023				202,599				583,201				608,982
Gross profit			111,962				97,044				331,700				287,964
Operating expenses:
Selling, general and administrative (i)			72,267				68,962				214,039				200,685
Technology and development (i)			12,744				12,640				38,115				37,975
Severance			190				779				600				1,648
Other operating expense, net			175				3,231				403				3,041
Total operating expenses			85,376				85,612				253,157				243,349
Income from operations			26,586				11,432				78,543				44,615
Interest income, net			1,566				1,162				4,347				3,201
Other income (expense), net			2,608				(3,273	)			2,533				(6,326	)
Income before income taxes			30,760				9,321				85,423				41,490
Provision for income taxes			(7,798	)			(2,979	)			(21,766	)			(10,918	)
Net income			22,962				6,342				63,657				30,572
Net income attributable to noncontrolling interests			(1,270	)			(791	)			(4,448	)			(2,937	)
Net income attributable to IDT Corporation		$	21,692			$	5,551			$	59,209			$	27,635
Earnings per share attributable to IDT Corporation common stockholders:
Basic		$	0.86			$	0.22			$	2.35			$	1.10
Diluted		$	0.86			$	0.22			$	2.34			$	1.09
Weighted-average number of shares used in calculation of earnings per share:
Basic			25,165				25,345				25,177				25,233
Diluted			25,249				25,516				25,312				25,380
(i) Stock-based compensation included in total operating expenses		$	946			$	2,118			$	2,720			$	5,375

IDT CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

		Nine Months Ended April 30,
		2025				2024
		(in thousands)
Operating activities
Net income		$	63,657			$	30,572
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization			15,702				15,256
Deferred income taxes			18,902				8,830
Provision for credit losses, doubtful accounts receivable, and reserve for settlement assets			4,465				3,010
Stock-based compensation			2,720				5,375
Other			1,735				4,065
Change in assets and liabilities:
Trade accounts receivable			(4,649	)			(9,000	)
Settlement assets, disbursement prefunding, prepaid expenses, other current assets, and other assets			(8,932	)			6,797
Trade accounts payable, accrued expenses, settlement liabilities, other current liabilities, and other liabilities			(19,486	)			(10,467	)
Customer funds deposits			25,327				1,243
Deferred revenue			(3,382	)			(2,903	)
Net cash provided by operating activities			96,059				52,778
Investing activities
Capital expenditures			(15,507	)			(13,621	)
Purchase of convertible preferred stock in equity method investment			(926	)			(1,513	)
Purchases of debt securities and equity investments			(29,083	)			(27,593	)
Proceeds from maturities and sales of debt securities and redemptions of equity investments			35,005				41,527
Net cash used in investing activities			(10,511	)			(1,200	)
Financing activities
Dividends paid			(4,036	)			(1,269	)
Distributions to noncontrolling interests			(100	)			(62	)
Proceeds from borrowings under revolving credit facility			24,551				32,864
Repayment of borrowings under revolving credit facility.			(24,551	)			(32,864	)
Purchase of restricted shares of net2phone common stock			–				(3,558	)
Proceeds from exercise of stock options			–				172
Repurchases of Class B common stock			(17,773	)			(7,207	)
Net cash used in financing activities			(21,909	)			(11,924	)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash and cash equivalents			3,982				(5,632	)
Net increase in cash, cash equivalents, and restricted cash and cash equivalents			67,621				34,022
Cash, cash equivalents, and restricted cash and cash equivalents at beginning of period			255,456				198,823
Cash, cash equivalents, and restricted cash and cash equivalents at end of period		$	323,077			$	232,845
Supplemental schedule of non-cash financing activities
Shares of the Company’s Class B common stock issued to executive officers for bonus payments		$	1,824			$	1,495
Value of the Company’s Class B common stock exchanged for National Retail Solutions shares		$	442			$	6,254
Shares of the Company’s Class B common stock issued for business acquisition		$	–			$	100

Reconciliation of Non-GAAP Financial Measures for the Third Quarter Fiscal 2025 and 2024

In addition to disclosing financial results that are determined in accordance with generally accepted accounting principles in the United States of America (GAAP), IDT also disclosed (a) Adjusted EBITDA for 3Q25, 2Q25, and 3Q24, (b) non-GAAP earnings per diluted share (Non-GAAP EPS) for 3Q25 and 3Q24, and (c) NRS’ and Fintech segment’s ‘Rule of 40’ score for 3Q25. These are non-GAAP financial measures intended to provide useful information that supplements IDT’s or the relevant segment’s results in accordance with GAAP. The following explains these terms and their respective reconciliations to the most directly comparable GAAP measures.

Generally, a non-GAAP measure is a numerical measure of a company’s performance, financial position, or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with GAAP.

IDT’s measure of Non-GAAP EPS is calculated by dividing non-GAAP net income by the diluted weighted-average shares. IDT’s measure of non-GAAP net income starts with net income attributable to IDT in accordance with GAAP and adds severance expense, stock-based compensation, and other operating expenses, and deducts other operating gains. These additions and subtractions are non-cash and/or non-routine items in the relevant fiscal 2025 and fiscal 2024 periods.

Management believes that IDT’s Adjusted EBITDA and Non-GAAP EPS are measures which provide useful information to both management and investors by excluding certain expenses and non-routine gains and losses that may not be indicative of IDT’s or the relevant segment’s core operating results. Management uses Adjusted EBITDA, among other measures, as a relevant indicator of core operational strengths in its financial and operational decision making. In addition, management uses Adjusted EBITDA and Non-GAAP EPS to evaluate operating performance in relation to IDT’s competitors. Disclosure of these financial measures may be useful to investors in evaluating performance and allow for greater transparency of the underlying supplemental information used by management in its financial and operational decision-making. In addition, IDT has historically reported similar financial measures and believes such measures are commonly used by readers of financial information in assessing performance, therefore the inclusion of comparative numbers provides consistency in financial reporting.

Management refers to Adjusted EBITDA, as well as the GAAP measures income (loss) from operations and net income, on a segment and/or consolidated level to facilitate internal and external comparisons to the segments’ and IDT’s historical operating results, in making operating decisions, for budget and planning purposes, and to form the basis upon which management is compensated.

While depreciation and amortization are considered operating costs under GAAP, these expenses primarily represent the non-cash current period allocation of costs associated with long-lived assets acquired or capitalized in prior periods. IDT’s Adjusted EBITDA, which is exclusive of depreciation and amortization, is a useful indicator of its current performance.

Severance expense is excluded from the calculation of Adjusted EBITDA and Non-GAAP EPS. Severance expense is reflective of decisions made by management in each period regarding the aspects of IDT’s and its segments’ businesses to be focused on in light of changing market realities and other factors. While there may be similar charges in other periods, the nature and magnitude of these charges can fluctuate markedly and do not reflect the performance of IDT’s core and continuing operations.

Other operating expense, net, which is a component of income (loss) from operations, is excluded from the calculation of Adjusted EBITDA and Non-GAAP EPS. Other operating expense, net in 3Q25, 2Q25, and 3Q24 primarily includes legal fees related to Straight Path Communications Inc.’s stockholders’ class action and equipment write-offs. From time-to-time, IDT may have gains or incur costs related to non-routine legal, tax, and other matters, however, these various items generally do not occur each quarter. IDT believes the gain and losses from these non-routine matters are not components of IDT’s or the relevant segment’s core operating results.

Stock-based compensation recognized by IDT and other companies may not be comparable because of the variety of types of awards as well as the various valuation methodologies and subjective assumptions that are permitted under GAAP. Stock-based compensation is excluded from IDT’s calculation of Non-GAAP EPS because management believes this allows investors to make more meaningful comparisons of the operating results per share of IDT’s core business with the results of other companies. However, stock-based compensation will continue to be a significant expense for IDT for the foreseeable future and an important part of employees’ compensation that impacts their performance.

Adjusted EBITDA and Non-GAAP EPS should be considered in addition to, not as a substitute for, or superior to, income (loss) from operations, cash flow from operating activities, net income, basic and diluted earnings per share or other measures of liquidity and financial performance prepared in accordance with GAAP. In addition, IDT’s measurements of Adjusted EBITDA and Non-GAAP EPS may not be comparable to similarly titled measures reported by other companies.

The ‘Rule of 40’ score is a metric used to evaluate the performance of SaaS providers. It postulates that a SaaS provider’s revenue growth rate plus its EBITDA margin should equal or exceed 40 percent. The ‘Rule of 40’ is typically used to assess a company’s balance between growth and profitability. A total of over 40 is thought to indicate a healthy combination of expansion and financial stability, making it a useful tool for management and investors to gauge the potential for long-term success and make informed decisions about resource allocation and business strategy.

NRS’ ‘Rule of 40′ score is computed by adding (a) the growth rate of NRS’ recurring revenue for the relevant period compared to the corresponding year ago period to (b) NRS’ Adjusted EBITDA margin for the twelve month period through the end of the current period. NRS’ recurring revenue is calculated by subtracting NRS’ revenue from POS terminal sales from its total GAAP revenue. Adjusted EBITDA is a non-GAAP measure as discussed above. Adjusted EBITDA margin is calculated by dividing Adjusted EBITDA by GAAP revenue for the relevant period.

Following are reconciliations of Adjusted EBITDA and Non-GAAP EPS to the most directly comparable GAAP measure, which are, (a) for Adjusted EBITDA, (i) income (loss) from operations for IDT’s reportable segments and (ii) net income for IDT on a consolidated basis, and (b) for Non-GAAP EPS, diluted earnings per share. Also following is NRS’ ‘Rule of 40′ score computation including the reconciliation of NRS’ Adjusted EBITDA to the most directly comparable GAAP measure, NRS’ income from operations.

IDT Corporation
Reconciliation of Net Income to Adjusted EBITDA
(unaudited) in millions. Figures may not foot or cross-foot due to rounding to millions

		Total IDT Corporation				Traditional Communica-tions				net2phone				NRS				Fintech				Corporate
Three Months Ended April 30, 2025 (3Q25)
Net income attributable to IDT Corporation		$	21.7
Adjustments:
Net income attributable to noncontrolling interests			1.3
Net income			23.0
Provision for income taxes			7.8
Income before income taxes			30.8
Interest income, net			(1.6	)
Other income, net			(2.6	)
Income (loss) from operations			26.6			$	17.3			$	1.4			$	6.2			$	4.3			$	(2.6	)
Depreciation and amortization			5.2				1.9				1.6				1.0				0.7				–
Other operating expense, net			0.2				–				0.2				–				–				–
Severance expense			0.2				0.2				–				–				–				–
Adjusted EBITDA		$	32.2			$	19.3			$	3.2			$	7.2			$	5.0			$	(2.6	)

		Total IDT Corporation				Traditional Communica-tions				net2phone				NRS				Fintech				Corporate
Three Months Ended January 31, 2025 (2Q25)
Net income attributable to IDT Corporation		$	20.3
Adjustments:
Net income attributable to noncontrolling interests			1.9
Net income			22.2
Provision for income taxes			7.7
Income before income taxes			29.9
Interest income, net			(1.4	)
Other income, net			(0.2	)
Income (loss) from operations			28.3			$	18.1			$	1.1			$	9.1			$	3.1			$	(3.1	)
Depreciation and amortization			5.2				1.9				1.6				1.0				0.8				–
Other operating expense, net			0.2				–				0.2				–				–				–
Severance expense			0.2				0.2				–				–				–				–
Adjusted EBITDA		$	34.0			$	20.2			$	2.9			$	10.1			$	3.9			$	(3.1	)

IDT Corporation
Reconciliation of Net Income to Adjusted EBITDA
(unaudited) in millions. Figures may not foot or cross-foot due to rounding to millions

		Total IDT Corporation				Traditional Communica-tions				net2phone				NRS				Fintech				Corporate
Three Months Ended April 30, 2024 (3Q24)
Net income attributable to IDT Corporation		$	5.6
Adjustments:
Net income attributable to noncontrolling interests			0.8
Net income			6.3
Provision for income taxes			3.0
Income before income taxes			9.3
Interest income, net			(1.2	)
Other expense, net			3.3
Income (loss) from operations			11.4			$	12.5			$	0.5			$	4.8			$	(0.6	)		$	(5.7	)
Depreciation and amortization			5.1				2.0				1.6				0.8				0.7				–
Severance expense			0.8				0.4				0.1				–				–				0.3
Other operating expense, net			3.2				–				–				–				0.1				3.2
Adjusted EBITDA		$	20.6			$	14.9			$	2.1			$	5.6			$	0.2			$	(2.3	)

IDT Corporation
Reconciliation of Earnings per share to Non-GAAP EPS
(unaudited) in millions, except per share data. Figures may not foot due to rounding to millions.

		3Q25				3Q24
Net income attributable to IDT Corporation		$	21.7			$	5.6
Adjustments (add) subtract:
Stock-based compensation			(0.9	)			(2.1	)
Severance expense			(0.2	)			(0.8	)
Other operating expense, net			(0.2	)			(3.2	)
Total adjustments			(1.3	)			(6.1	)
Income tax effect of total adjustments			(0.3	)			(2.0	)
			1.0				4.1
Non-GAAP net income		$	22.7			$	9.7
Earnings per share:
Basic		$	0.86			$	0.22
Total adjustments			0.04				0.16
Non-GAAP – basic		$	0.90			$	0.38
Weighted-average number of shares used in calculation of basic earnings per share			25.2				25.3
Diluted		$	0.86			$	0.22
Total adjustments			0.04				0.16
Non-GAAP – diluted		$	0.90			$	0.38
Weighted-average number of shares used in calculation of diluted earnings per share			25.2				25.5

IDT Corporation
NRS’ ‘Rule of 40’ Score
For 3Q25
(unaudited) in millions. Figures may not foot due to rounding to millions.

		4Q24				1Q25				2Q25				3Q25				Trailing Twelve Months (TTM) 3Q25
Reconciliation of NRS’ Income from Operations to Adjusted EBITDA
Income from operations		$	6.0			$	6.6			$	9.1			$	6.2			$	28.0
Depreciation and amortization			0.9				1.0				1.0				1.0				3.9
Other operating expense, net			0.2				–				–				–				0.2
Adjusted EBITDA		$	7.1			$	7.6			$	10.1			$	7.2			$	32.0

		3Q25				3Q24
NRS’ ‘Rule of 40’ Score
NRS recurring revenue		$	29.4			$	24.0
NRS other revenue			1.7				1.8
NRS total revenue		$	31.1			$	25.7
NRS recurring revenue growth rate			23	%
NRS TTM Adjusted EBITDA from above		$	32.0
NRS TTM total revenue			122.7
NRS TTM Adjusted EBITDA margin			26	%
Rule of 40			49	%

Explanation of Key Performance Metrics

net2phone’s subscription revenue is calculated by subtracting net2phone’s equipment revenue and revenue generated by a legacy SIP trunking offering in Brazil from its revenue in accordance with GAAP. net2phone’s cloud communications and contact center offerings are priced on a per-seat basis, with customers paying based on the number of users in their organization. The number of seats served and subscription revenue trends and comparisons between periods are used in the analysis of net2phone’s revenues and direct cost of revenues and are strong indications of the top-line growth and performance of the business.

Constant currency as it relates to revenue provides a framework for assessing net2phone’s performance that excludes the effect of foreign currency rate fluctuations. To determine net2phone’s subscription revenue growth on a constant currency basis, current period revenues from entities reporting in currencies other than U.S. Dollars (USD) were converted to USD at the average monthly exchange rates in effect during the prior fiscal year’s comparative period instead of the average monthly exchange rates in effect during the current period.

net2phone’s operating margin is calculated by dividing GAAP income from operations by GAAP revenue for the period indicated. Operating margin measures the percentage that each dollar of revenue contributes to profitability. Operating margin is useful for evaluating current period profitability relative to sales, for comparisons to prior period performance, for forecasting future income from operations levels based on projected levels of sales, and for comparing net2phone’s relative profitability to its competitors and peers.

net2phone’s Adjusted EBITDA margin is calculated by dividing net2phone’s Adjusted EBITDA, a Non-GAAP measure, by net2phone’s GAAP revenue for the comparable quarter or period. Adjusted EBITDA margin measures the percentage that each dollar of revenue contributes to profitability before interest, taxes, depreciation and amortization, and other adjustments as described in the Reconciliation of Non-GAAP Financial Measures. net2phone’s Adjusted EBITDA margin is useful for evaluating current period profitability relative to sales, for comparisons to prior period performance, for forecasting future Adjusted EBITDA levels based on projected levels of sales, and for comparing net2phone’s relative profitability to its competitors and peers.

NRS’ Monthly Average Recurring Revenue per Terminal is calculated by dividing NRS’ recurring revenue as defined above by the average number of active POS terminals during the period. The average number of active POS terminals is calculated by adding the beginning and ending number of active POS terminals during the period and dividing by two. NRS’ recurring revenue divided by the average number of active POS terminals is divided by three when the period is a fiscal quarter. Recurring revenue and Monthly Average Recurring Revenue per Terminal are useful for comparisons of NRS’ revenue and revenue per customer to prior periods and to competitors and others in the market, as well as for forecasting future revenue from the customer base.

BOSS Money transactions are a nonfinancial metric that measures customer usage during a reporting period. BOSS Money’s digital send volume is the aggregate amount of principal remitted by BOSS Money’s digital customers – those using the BOSS Money and BOSS Revolutions apps to originate remittances. Digital send volume is a key metric for evaluating the operational performance of the digital channel of the remittance business, and for comparing the performance of BOSS Money’s digital channel to competitors in the remittance business as well as to performance to other temporal periods.

# # #

NEWARK, NJ, May 30, 2025 (GLOBE NEWSWIRE) — IDT Corporation (NYSE: IDT), a global provider of fintech, cloud communications, and traditional communications solutions, has scheduled its report of financial and operational results for the third quarter fiscal year 2025 (the three months ended April 30, 2025) on Thursday, June 5, 2025.

IDT’s earnings release will be issued and posted on the IDT investor relations website (https://www.idt.net/investors-and–media) at approximately 4:15 PM Eastern.

IDT will host an earnings conference call beginning at 5:00 PM Eastern with management’s discussion of results followed by Q&A with investors. To listen to the call and participate in the Q&A, dial 1-888-506-0062 (toll-free from the US) or 1-973-528-0011 (international) and provide the following access code: 491722.

A replay of the conference call will be available approximately three hours after the call concludes through June 19, 2025. To access the call replay, dial 1-877-481-4010 (toll-free from the US) or 1-919-882-2331 (international) and provide this replay passcode: 52353. The replay will also be accessible via streaming audio at the IDT investor relations website.

ABOUT IDT CORPORATION

IDT Corporation (NYSE: IDT) is a global provider of fintech and communications solutions through a portfolio of synergistic businesses: National Retail Solutions (NRS), through its point-of-sale (POS) platform, enables independent retailers to operate more effectively while providing advertisers and marketers with unprecedented reach into underserved consumer markets; BOSS Money facilitates innovative international remittances and fintech payments solutions; net2phone provides enterprises and organizations with intelligently integrated cloud communications and contact center services across channels and devices; IDT Digital Payments and the BOSS Revolution calling service make sharing prepaid products and services and speaking with friends and family around the world convenient and reliable; and, IDT Global and IDT Express enable communications services to provision and manage international voice and SMS messaging.

Contact:
Bill Ulrey
IDT Investor Relations
Phone: (973) 438-3838
E-mail: invest@idt.net

###

April same-store sales increased 4.3% year-over-year^*

NEWARK, N.J., May 07, 2025 (GLOBE NEWSWIRE) — NRSInsights, a provider of sales data and analytics drawn from retail transactions processed through the National Retail Solutions (NRS) point-of-sale (POS) platform, today announced comparative retail same-store sales results for April 2025.

As of April 30, 2025, the NRS retail network comprised approximately 35,600 active terminals nationwide, scanning purchases at approximately 31,000 independent retailers including convenience stores, bodegas, liquor stores, grocers, and tobacco and sundries sellers, predominantly serving urban consumers.

April Highlights^*

(^*Same-store sales, unit sales, transactions, and average price data refer to April 2025 and are compared to April 2024 unless otherwise noted. All comparisons are provided on a “per calendar day” basis to remove from consideration variability in the number of days per month or three-month period.)

• SALES
  • Same-store sales increased 4.3% year-over-year. In the previous month (March 2025), same-store sales had increased 2.3% year-over-year.
  • Same-store sales increased 0.6% compared to the previous month (March 2025). Same-store sales in March 2025 had increased 5.3% compared to the previous month (February 2025).
  • For the three months ended April 30, 2025, same-store sales increased 2.8% compared to the corresponding three months a year ago.

• UNITS SOLD
  • Units sold increased 2.5% year-over-year. In the previous month (March 2025), units sold had increased 2.4% year-over-year.
  • Units sold decreased 0.8% compared to the previous month (March 2025). Units sold in March 2025 had increased 4.9% compared to the previous month (February 2025).
• BASKETS (TRANSACTIONS) PER STORE
  • Baskets increased 1.3% year-over-year. In the previous month (March 2025), baskets had increased 0.2% year-over-year.
  • Baskets increased 2.7% compared to the previous month (March 2025). Baskets in March 2025 had increased 6.2% compared to the previous month (February 2025).
• AVERAGE PRICES
  • A dollar-weighted average of prices for the top 500 items purchased increased 2.3% year-over-year, a higher rate of increase than the 2.1% year-over-year increase recorded in March 2025.

Retail Trade Comparative Data

The table below provides historical comparative data with the U.S. Commerce Department’s Advance Monthly Retail Trade same-store sales data excluding food service:

Over the past twelve months, the NRS network’s three-month moving average same-store sales have outpaced the US Commerce Department’s Advance Monthly Retail Trade data, excluding food services, by 0.5% on average. In March, however, the Department’s three-month rolling average increase exceeded the NRS network’s by 1.6%.

The NRSInsights data in the chart above have not been adjusted to reflect inflation, demographic distributions, seasonal buying patterns, item substitution, days per month, or other factors that may facilitate comparisons to other periods, to other same-store retail sales data, or to the U.S. Commerce Department’s retail data.

Commentary from Brandon Thurber (VP, Data Sales at NRS)

“NRS same-store-sales increased 4.3% year over year, and 0.6% sequentially, highlighting the resiliency of consumer spending. Inflation as gauged on our largest selling items remained subdued at 2.3%, though ticking up from 2.1% in March.

“The April same-store sales increase was driven by strong momentum across both alcoholic and non-alcoholic beverage categories.

“On the alcoholic beverage side, Tequila continued to grow at double digits year-over-year, and Ready-to-Drink Cocktails also surged-cementing its place as a major growth engine in the alcohol space. The Beer category also registered broad-based gains, with Traditional Beer, Flavored Malt Beverages (FMBs)/Cider/Seltzer, and Non-Alcoholic (NA) Beer all contributing.

“On the NA beverage side, Soft Drinks and Energy Drinks led the way. Sports Drinks saw a slight dip, as sales shifted toward hydration alternatives including Sparkling Water, Coconut Water, and Seltzer.

“Candy sales were flat overall, with Chocolate on the rise even, led by multi-serve packs as other confections declined.”

NRSInsights Reports

The NRSInsights monthly Same-Store Retail Sales Reports are intended to provide timely topline data reflective of sales at NRS’ network of independent, predominantly urban, retail stores.

Same-store data comparisons of April 2025 with April 2024 are derived from approximately 207 million transactions processed through the approximately 21,900 stores on the NRS network that scanned transactions in both months. Same-store data comparisons of April 2025 with March 2025 are derived from approximately 261 million transactions processed through approximately 29,900 stores.

Same-store data comparisons for the three months ended April 30, 2025 with the year-ago three months are derived from approximately 574 million scanned transactions processed through those stores that scanned transactions in both three-month periods.

NRS POS Platform

The NRS platform predominantly serves small-format, independent, retail stores nationwide including convenience stores, bodegas, liquor stores, grocers, and tobacco and sundries sellers. These independent retailers operate in all 50 states as well as the District of Columbia, and in 204 of the 210 designated market areas (DMAs) in the United States. During April 2025, NRS’ POS terminals processed $1.9 billion in sales (+17% year-over-year) across 133 million transactions.

About National Retail Solutions (NRS):

National Retail Solutions operates the largest point-of-sale (POS) terminal-based platform and digital payment processing service for independent retailers nationwide. Retailers utilize NRS offerings to process transactions and effectively manage their businesses. Consumer packaged goods (CPG) suppliers, brokers, analytics firms, and advertisers access the terminal’s digital display network to reach these retailers’ predominantly urban, multi-cultural shopper base, and to harness transaction data-based learnings to identify growth opportunities and measure execution and returns on marketing investment. NRS is a subsidiary of IDT Corporation (NYSE: IDT).

All statements above that are not purely about historical facts, including, but not limited to, those in which we use the words “believe,” “anticipate,” “expect,” “plan,” “intend,” “estimate,” “target” and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent our current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors. Our filings with the SEC provide detailed information on such statements and risks, and should be consulted along with this release. To the extent permitted under applicable law, IDT assumes no obligation to update any forward-looking statements.

NRSInsights Contact:
Brandon Thurber
VP, Data Sales & Client Success at NRS
National Retail Solutions
Brandon.Thurber@nrsplus.com

IDT Corporation Contact:
Bill Ulrey
william.ulrey@idt.net

# # #

Newark, NJ, May 01, 2025 (GLOBE NEWSWIRE) — BOSS Money, the remittance and payments brand of IDT Corporation (NYSE: IDT), today announced promotional $0-fee international money transfers for new and existing customers on Mother’s Day.

“BOSS Money has removed money transfer fees for Mother’s Day to make celebrating Moms everywhere easy and economical,” said Michelle Rendo, VP Marketing for BOSS Money. “Mother’s Day is a celebration of connection, love, and appreciation that transcends borders. A transfer on Mother’s Day is a wonderful way to say, ‘Thank you, Mom!'”

New BOSS Money customers can take advantage of $0-fee money transfers on Mother’s Day and every day of the year when using the BOSS Money app with:

• $0-fee on the first two (2) transfers to all BOSS Money destination countries;
• $0-fee on the first five (5) transfers to Mexico;
• $0-fee for unlimited transfers to Cameroon, Ghana, Nigeria, Kenya, Uganda, Senegal, and Venezuela.

Mother’s Day is on Sunday, May 11^th in the USA, but on different days in some other nations. To reflect this variation, BOSS Money is offering current BOSS Money customers two (2) $0-fee money transfers to destinations around the world when using the BOSS Money app on the following schedule^*:

• May 5 to May 11^th — to all BOSS Money country-destinations with promo code “MOM”;
• May 21 to May 25^th — to the Dominican Republic, Bolivia, Haiti, Burkina Faso, Ivory Coast, and Madagascar with promo code “MOMMY”;
• May 26 to May 30^th — to Nicaragua with promo code “MAMA”.

To begin a BOSS Money $0-fee transfer and to see details of BOSS Money’s Mother’s Day promotions, use the free BOSS Money app available from the iOS App and Google Play Stores.

To learn more about our low fees, competitive exchange rates and exclusive promotions visit bossmoney.com.

ABOUT BOSS MONEY

BOSS Money’s rapidly expanding international remittance service provides fast, secure and reliable money transfers for residents of the U.S. and Canada to popular destination countries in Latin America, the Caribbean, Africa, and South Asia. BOSS Money offers a robust menu of payout options including cash pick-up, mobile money, in-country bank account, and debit card direct deposit. Customers can remit funds through the highly rated BOSS Money and BOSS Revolution apps or through licensed Boss Money retailers.

ABOUT IDT CORPORATION

IDT Corporation (NYSE: IDT) is a global provider of fintech and communications solutions through a portfolio of synergistic businesses: National Retail Solutions (NRS), through its point-of-sale (POS) platform, enables independent retailers to operate more effectively while providing advertisers and marketers with unprecedented reach into underserved consumer markets; BOSS Money facilitates innovative international remittances and fintech payments solutions; net2phone provides enterprises and organizations with intelligently integrated cloud communications and contact center services across channels and devices; IDT Digital Payments and the BOSS Revolution calling service make sharing prepaid products and services and speaking with friends and family around the world convenient and reliable; and, IDT Global and IDT Express enable communications services to provision and manage international voice and SMS messaging.

^*Exclusions may apply

All statements above that are not purely about historical facts, including, but not limited to, those in which we use the words “believe,” “anticipate,” “expect,” “plan,” “intend,” “estimate,” “target” and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent our current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors. Our filings with the SEC provide detailed information on such statements and risks and should be consulted along with this release. To the extent permitted under applicable law, IDT assumes no obligation to update any forward-looking statements.

CONTACT

IDT Corporation Investor Relations
Bill Ulrey
william.ulrey@idt.net

# # #

March same-store sales increased 2.3% year-over-year^*

NEWARK, N.J., April 07, 2025 (GLOBE NEWSWIRE) — NRSInsights, a provider of sales data and analytics drawn from retail transactions processed through the National Retail Solutions (NRS) point-of-sale (POS) platform, today announced comparative retail same-store sales results for March 2025.

As of March 31, 2025, the NRS retail network comprised approximately 35,200 active terminals nationwide, scanning purchases at approximately 30,700 independent retailers including convenience stores, bodegas, liquor stores, grocers, and tobacco and sundries sellers, predominantly serving urban consumers.

March Highlights^*

(^*Same-store sales, unit sales, transactions, and average price data refer to March 2025 and are compared to March 2024 unless otherwise noted. All comparisons are provided on a “per calendar day” basis to remove from consideration variability in the number of days per month or three-month period.)

• SALES
  • Same-store sales increased 2.3% year-over-year. In the previous month (February 2025), same-store sales had increased 3.5% year-over-year.

• • Same-store sales increased 5.3% compared to the previous month (February 2025). Same-store sales in February 2025 had increased 6.1% compared to the previous month (January 2025).
  • For the three months ended March 31, 2025, same-store sales increased 2.9% compared to the corresponding three months a year ago.

• UNITS SOLD
  • Units sold increased 2.4% year-over-year. In the previous month (February 2025), units sold had increased 3.0% year-over-year.
  • Units sold increased 4.9% compared to the previous month (February 2025). Units sold in February 2025 had increased 5.0% compared to the previous month (January 2025).
• BASKETS (TRANSACTIONS) PER STORE
  • Baskets increased 0.2% year-over-year. In the previous month (February 2025), baskets had decreased (0.9)% year-over-year.
  • Baskets increased 6.2% compared to the previous month (February 2025). Baskets in February 2025 had increased 4.6% compared to the previous month (January 2025).
• AVERAGE PRICES
  • A dollar-weighted average of prices for the top 500 items purchased increased 2.1% year-over-year, a lower rate of increase than the 2.3% increase recorded in February 2025.

Retail Trade Comparative Data

The table below provides historical comparative data with the U.S. Commerce Department’s Advance Monthly Retail Trade same-store sales data excluding food service:

Over the past twelve months, the NRS network’s three-month moving average same-store sales have outpaced the US Commerce Department’s Advance Monthly Retail Trade data, excluding food services, by 0.8% on average. In March, the Department’s three month rolling average increase exceeded the NRS network’s by 0.8%.

The NRSInsights data in the chart above have not been adjusted to reflect inflation, demographic distributions, seasonal buying patterns, item substitution, days per month, or other factors that may facilitate comparisons to other periods, to other same-store retail sales data, or to the U.S. Commerce Department’s retail data.

Commentary from Suzy Silliman (SVP, Data Strategy and Sales at NRS)

“The NRS network delivered a solid year-over-year increase in dollar sales for same-store scanning in March 2025. The increase was geographically widespread, with most DMAs, including twelve of the top fifteen, attaining sales increases. Inflationary pressures, meanwhile, continued to cool.

“Categories showing dollar sales strength in March included Energy Beverages, which maintained its recent momentum, and Soft Drinks. The Modern Oral Smokeless Tobacco segment also had a notably strong month while still enjoying potential upside through expanded distribution.

“Chocolates also had another good month after an impressive February (including Valentine’s Day). Gum, which last month suffered its first year-over-year decrease in over a year, rebounded in March with strong year-over-year growth.

“Categories with decreased sales included most of the leaders within the BEVAL super-category — including Beer, FMB/Cider/Seltzer, Whiskey, Vodka, and Still Wine. Tequila was the notable exception, achieving both dollar and unit sales gains.

“The Salty Snack super category, led by Tortilla Chips, Potato Chips and Corn Chips, recorded a double-digit year-over-year sales decrease in March after a more moderate decline in February. Confections sales also continued to decrease compared to the year ago.”

NRSInsights Reports

The NRSInsights monthly Same-Store Retail Sales Reports are intended to provide timely topline data reflective of sales at NRS’ network of independent, predominantly urban, retail stores.

Same-store data comparisons of March 2025 with March 2024 are derived from approximately 207 million transactions processed through the approximately 21,500 stores on the NRS network that scanned transactions in both months. Same-store data comparisons of March 2025 with February 2025 are derived from approximately 241 million transactions processed through approximately 29,600 stores.

Same-store data comparisons for the three months ended March 31, 2025 with the year-ago three months are derived from approximately 551 million scanned transactions processed through those stores that scanned transactions in both three-month periods.

NRS POS Platform

The NRS platform predominantly serves small-format, independent, retail stores nationwide including convenience stores, bodegas, liquor stores, grocers, and tobacco and sundries sellers. These independent retailers operate in all 50 states as well as the District of Columbia, and in 204 of the 210 designated market areas (DMAs) in the United States. During March 2025, NRS’ POS terminals processed $2.0 billion in sales (+16% year-over-year) across 134 million transactions (+% year-over-year).

About National Retail Solutions (NRS):

National Retail Solutions operates the largest point-of-sale (POS) terminal-based platform and digital payment processing service for independent retailers nationwide. Retailers utilize NRS offerings to process transactions and effectively manage their businesses. Consumer packaged goods (CPG) suppliers, brokers, analytics firms, and advertisers access the terminal’s digital display network to reach these retailers’ predominantly urban, multi-cultural shopper base, and to harness transaction data-based learnings to identify growth opportunities and measure execution and returns on marketing investment. NRS is a subsidiary of IDT Corporation (NYSE: IDT).

All statements above that are not purely about historical facts, including, but not limited to, those in which we use the words “believe,” “anticipate,” “expect,” “plan,” “intend,” “estimate,” “target” and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent our current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors. Our filings with the SEC provide detailed information on such statements and risks, and should be consulted along with this release. To the extent permitted under applicable law, IDT assumes no obligation to update any forward-looking statements.

NRSInsights Contact:
Suzy Silliman
SVP, Data Strategy and Sales at NRS
National Retail Solutions
suzy.silliman@nrsplus.com

IDT Corporation Contact:
Bill Ulrey
william.ulrey@idt.net

# # #

Savings Pass, along with BOSS Unlimited and Bundles of Minutes monthly calling plans, offer spectacular savings no matter where you call or how long you talk

NEWARK, NJ, April 03, 2025 (GLOBE NEWSWIRE) — BOSS Revolution, the popular provider of affordable long distance calling to friends and family around the world powered by IDT Corporation (NYSE: IDT), has introduced Savings Pass – a monthly membership calling plan.

“Just as the big box discount stores offer big savings to their club members, BOSS Revolution’s Savings Pass is an affordable monthly plan that provides our customers with big discounts on our international long-distance calling rates — no matter where you call or how long you talk,” said Jessica Poverene, EVP Marketing at BOSS Revolution.

BOSS Revolution’s Savings Pass provides a 20% discount on BOSS Revolution’s already low standard rates when calling any one of over 200 countries. The Saving Pass plan is just $5 per month.

BOSS Revolution Savings Pass is just one way BOSS Revolution rewards its customers. Other BOSS Revolution monthly subscription offerings include:

Unlimited Plans – Provide unlimited calling to Mexico, Canada, the United Kingdom and popular destinations in Europe, South America, and the Caribbean.

Bundles of Minutes Plans – Provide a fixed number of minutes for calls to over 40 countries at a 20% discount off BOSS Revolution’s standard rates for a month. Popular destinations in Latin America and the Caribbean include: Guatemala, Honduras, El Salvador, the Dominican Republic, Haiti, and Jamaica. Popular African destinations include Nigeria, Burkina Faso, Ghana, Togo, Liberia, and Somalia.

BOSS Revolution Savings Pass and Unlimited Plans maximize savings for those calling overseas most frequently. BOSS Revolution customers who consistently stay in touch with friends and family but who call less frequently or who make shorter calls will generate their biggest savings from Bundles of Minutes subscription plans.

Charles Thibault, Executive Vice-President, said, “The global paid-minute communications market is a complex eco-system of overlapping prices. Our new Savings Pass option, together with our Unlimited and Bundles of Minutes calling plans, help you cut through that complexity to easily get the best deal possible based on your needs. No matter which calling plan you choose, you will find significant savings.”

About BOSS Revolution

Boss Revolution is a trusted brand that makes calling friends and family around the world more convenient and reliable. BOSS Revolution is a brand of IDT Corporation

About IDT Corporation

IDT Corporation (NYSE: IDT) is a global provider of fintech and communications solutions through a portfolio of synergistic businesses: National Retail Solutions (NRS), through its point-of-sale (POS) platform, enables independent retailers to operate more effectively while providing advertisers and marketers with unprecedented reach into underserved consumer markets; BOSS Money facilitates innovative international remittances and fintech payments solutions; net2phone provides enterprises and organizations with intelligently integrated cloud communications and contact center services across channels and devices; IDT Digital Payments and the BOSS Revolution calling service make sharing prepaid products and services and speaking with friends and family around the world convenient and reliable; and, IDT Global and IDT Express enable communications services to provision and manage international voice and SMS messaging.

Contact:
Bill Ulrey
IDT Investor Relations
Phone: (973) 438-3838
E-mail: invest@idt.net

# # #

NEWARK, NJ, March 18, 2025 — IDT Corporation (NYSE: IDT), a global provider of fintech, cloud communications, and traditional communications solutions, will present at the Sidoti Virtual Investor Conference that will be held on March 19^th and 20^th, 2025.

Marcelo Fisher, Chief Financial Officer, will present at 10:45 AM Eastern time on Wednesday, March 19^th. His presentation will provide an overview of IDT’s operations, strategy, and financial results. Mr. Fischer will also host one-on-one investor meetings throughout both days of the conference.

The IDT presentation can be accessed live here: https://sidoti.zoom.us/webinar/register/WN_WzrWFhVxTyWLK2-SZOALTg.

To register for the presentation or one-on-ones, visit www.sidoti.com/events. Registration is free.

All statements above that are not purely about historical facts, including, but not limited to, those in which we use the words “believe,” “anticipate,” “expect,” “plan,” “intend,” “estimate,” “target” and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent our current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors. Our filings with the SEC provide detailed information on such statements and risks, and should be consulted along with this release. To the extent permitted under applicable law, IDT assumes no obligation to update any forward-looking statements.

ABOUT IDT CORPORATION

IDT Corporation (NYSE: IDT) is a global provider of fintech and communications solutions through a portfolio of synergistic businesses: National Retail Solutions (NRS), through its point-of-sale (POS) platform, enables independent retailers to operate more effectively while providing advertisers and marketers with unprecedented reach into underserved consumer markets; BOSS Money facilitates innovative international remittances and fintech payments solutions; net2phone provides enterprises and organizations with intelligently integrated cloud communications and contact center services across channels and devices; IDT Digital Payments and the BOSS Revolution calling service make sharing prepaid products and services and speaking with friends and family around the world convenient and reliable; and, IDT Global and IDT Express enable communications services to provision and manage international voice and SMS messaging.

Contact:
Bill Ulrey
IDT Investor Relations
Phone: (973) 438-3838
E-mail: invest@idt.net

###

NEWARK, NJ, March 18, 2025 — IDT Corporation (NYSE: IDT), a global provider of fintech, cloud communications, and traditional communications solutions, will present at the Sidoti Virtual Investor Conference that will be held on March 19^th and 20^th, 2025.

Marcelo Fisher, Chief Financial Officer, will present at 10:45 AM Eastern time on Wednesday, March 19^th. His presentation will provide an overview of IDT’s operations, strategy, and financial results. Mr. Fischer will also host one-on-one investor meetings throughout both days of the conference.

The IDT presentation can be accessed live here: https://sidoti.zoom.us/webinar/register/WN_WzrWFhVxTyWLK2-SZOALTg.

To register for the presentation or one-on-ones, visit www.sidoti.com/events. Registration is free.

All statements above that are not purely about historical facts, including, but not limited to, those in which we use the words “believe,” “anticipate,” “expect,” “plan,” “intend,” “estimate,” “target” and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent our current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors. Our filings with the SEC provide detailed information on such statements and risks, and should be consulted along with this release. To the extent permitted under applicable law, IDT assumes no obligation to update any forward-looking statements.

ABOUT IDT CORPORATION

IDT Corporation (NYSE: IDT) is a global provider of fintech and communications solutions through a portfolio of synergistic businesses: National Retail Solutions (NRS), through its point-of-sale (POS) platform, enables independent retailers to operate more effectively while providing advertisers and marketers with unprecedented reach into underserved consumer markets; BOSS Money facilitates innovative international remittances and fintech payments solutions; net2phone provides enterprises and organizations with intelligently integrated cloud communications and contact center services across channels and devices; IDT Digital Payments and the BOSS Revolution calling service make sharing prepaid products and services and speaking with friends and family around the world convenient and reliable; and, IDT Global and IDT Express enable communications services to provision and manage international voice and SMS messaging.

Contact:
Bill Ulrey
IDT Investor Relations
Phone: (973) 438-3838
E-mail: invest@idt.net

###

Record levels of gross profit +16%; income from operations +77%; Adjusted EBITDA^* +56%

GAAP EPS increased to $0.80 from $0.57; Non-GAAP EPS^* increased to $0.84 from $0.67

IDT raised its quarterly dividend 20% to 6 cents

NEWARK, NJ, March 06, 2025 — IDT Corporation (NYSE: IDT), a global provider of fintech, cloud communications, and traditional communications solutions, today reported results for its second quarter fiscal year 2025, the three months ended January 31, 2025.

SECOND QUARTER HIGHLIGHTS

(Throughout this release, unless otherwise noted, results for the second quarter of fiscal year 2025 (2Q25) are compared to the second quarter of fiscal year 2024 (2Q24). All earnings per share (EPS) and other ‘per share’ results are per diluted share.

• Key Businesses / Segments
  • NRS
    • Recurring revenue^**: +32% to $31.6 million;
    • Income from operations: +71% to $9.1 million;
    • Adjusted EBITDA: +65% to $10.1 million;
    • ‘Rule of 40’ score**: 55
  • BOSS Money / Fintech segment
    • BOSS Money transactions: +36% to 5.7 million;
    • BOSS Money revenue: +34% to $33.5 million;
    • Fintech segment gross profit: +35% to $21.7 million;
    • Fintech segment income from operations: increased to $3.1 million from a loss of $(0.7) million;
    • Fintech segment Adjusted EBITDA: increased to $3.9 million from a loss of $(12) thousand;
  • net2phone
    • Subscription revenue^**: +9% to $21.0 million (+14% on a constant currency basis);
    • Income from operations: increased to $1.1 million from $0.4 million;
    • Adjusted EBITDA: +55% to $2.9 million;
  • Traditional Communications
    • Gross profit: +2% to $43.1 million;
    • Income from operations: +24% to $18.1 million;
    • Adjusted EBITDA: +19% to $20.2 million;
• IDT Consolidated
  • Revenue: +2% to $303.3 million;
  • Gross profit (GP) / margin: GP +16% to $112 million; GP margin +420 bps to 37.0%;
  • Income from operations: +77% to $28.3 million;
  • Net income attributable to IDT: +41% to $20.3 million;
  • GAAP EPS: Increased to $0.80 from $0.57;
  • Non-GAAP net income: +26% to $21.3 million;
  • Non-GAAP EPS: Increased to $0.84 from $0.67;
  • Adjusted EBITDA: +56% to $34.0 million;
  • CapEx: +6% to $4.8 million;
  • Stock buyback: Repurchased 179,338 shares of IDT Class B common stock in market transactions during 2Q25 for $8.5 million at an average share price of $47.59;
  • Common stock dividend: IDT increased its quarterly dividend from $0.05 to $0.06.

REMARKS BY SHMUEL JONAS, CEO

“IDT had a strong second quarter led by NRS and BOSS Money, and supported by robust results from our Traditional Communications segment, which increased its cash generation for the third consecutive quarter. On a consolidated basis, we again generated record levels of gross profit, income from operations, and Adjusted EBITDA.

“NRS continued to deepen its penetration of the independent retailer market. We are now launching new features and functionalities that increase the value of our solution for retailers and will help us to drive additional growth.

“BOSS Money delivered another quarter of strong year-over-year transaction and revenue growth. In the second quarter, we continued to focus on improving the margin contribution, particularly in our retail channel, and that effort helped to boost our Fintech segment’s gross profit and Adjusted EBITDA less CapEx to record levels.

“net2phone continued its expansion led by further growth in the U.S. market. We are especially excited about last week’s launch of net2phone’s virtual AI agent. It has been very well received by our internal BOSS and NRS teams that are using it with great success to enhance the quality and consistency of customer interactions while reducing costs. We are confident that net2phone clients will find that it provides them with great value right out of the gate. Moreover, as they build with our AI agent, it will provide clients with increasingly sophisticated, tailored solutions that add value across disparate functions within their organizations.

“Our Traditional Communications segment increased Adjusted EBITDA for the third sequential quarter and surpassed $20 million for the first time since fiscal 2022.

“In light of our solid financial position and positive outlook, and mindful of the feedback we’ve received from our investors, we stepped up our repurchases of stock during the second quarter and have increased our regular quarterly dividend by 20%.”

2Q25 RESULTS BY SEGMENT

(For all periods presented, capital expenditures (CapEx), previously provided on a consolidated basis, is now also provided for each business segment.)

National Retail Solutions (NRS)

National Retail Solutions (NRS) (Terminals and accounts at end of period. $ in millions, except for average revenue per terminal)
			2Q25				1Q25				2Q24				2Q25-2Q24 (% Δ)
Terminals and payment processing accounts
Active POS terminals			34,800				33,100				28,700				+21	%
Payment processing accounts			23,900				22,700				18,200				+32	%
Recurring revenue
Merchant Services & Other		$	18.1			$	17.2			$	12.5				+45	%
Advertising & Data		$	10.0			$	8.5			$	8.7				+15	%
SaaS Fees		$	3.5			$	3.3			$	2.7				+30	%
Total recurring revenue		$	31.6			$	28.9			$	23.9				+32	%
POS terminal sales		$	1.3			$	1.4			$	1.3				+2	%
Total revenue		$	33.0			$	30.4			$	25.2				+31	%
Monthly average recurring revenue per terminal**		$	310			$	295			$	285				+9	%
Gross profit		$	30.3			$	27.6			$	22.5				+35	%
Gross profit margin			91.8	%			91.0	%			89.1	%			+270	bps
Technology & development		$	2.2			$	2.0			$	1.9				+14	%
SG&A		$	19.0			$	19.0			$	15.2				+25	%
Income from operations		$	9.1			$	6.6			$	5.3				+71	%
Adjusted EBITDA		$	10.1			$	7.6			$	6.1				+65	%
CapEx		$	0.9			$	1.2			$	1.0				(4	)%

NRS Take-Aways / Updates:

• NRS added approximately 1,700 net active terminals and approximately 1,200 net payment processing accounts during 2Q25. Net active terminal additions included the impact of approximately 300 terminals operating in seasonal stores that suspended operations following the quarter close.
• The 45% year-over-year increase in Merchant Services & Other revenue was driven by the growth in payment processing accounts, and higher merchant services revenue per account, driven in part by the increased percentage of retail transactions paid with a credit or debit card.
• The 30% year-over-year increase in SaaS Fees revenue reflects the growth of net active terminals and migration of retailers to premium SaaS plans.

Fintech

Fintech (Transactions in millions. $ in millions, except for average revenue per transaction)
			2Q25				1Q25				2Q24				2Q25-2Q24 (% Δ, $)
BOSS Money transactions			5.7				5.6				4.2				+36	%
Fintech Revenue
BOSS Money		$	33.5			$	33.7			$	25.0				+34	%
Other		$	3.3			$	3.4			$	2.9				+13	%
Total Revenue		$	36.8			$	37.1			$	28.0				+32	%
Average revenue per BOSS Money transaction**		$	5.87			$	6.01			$	5.98			$	(0.11	)
Gross profit		$	21.7			$	21.6			$	16.1				+35	%
Gross profit margin			58.9	%			58.2	%			57.5	%			140	bps
Technology & development		$	2.3			$	2.3			$	2.5				(8	)%
SG&A		$	16.3			$	16.1			$	14.3				+14	%
Income (loss) from operations		$	3.1			$	3.2			$	(0.7	)			+$3.8
Adjusted EBITDA		$	3.9			$	4.0			$	0				+$3.9
CapEx		$	0.8			$	1.1			$	0.8				+1	%

Fintech Take-Aways:

• The 36% increase in BOSS Money transactions reflected a 40% year-over-year increase in digital transactions and a 22% increase in retail transactions.
• BOSS Money revenue increased 34% year-over-year driven by a 38% year-over-year increase in digital channel revenue. The 1% sequential decrease in revenue reflected BOSS Money’s continued focus on expanding per-transaction margins, particularly at retail, which boosted gross profit while dampening transaction volume growth and revenue.
• The strong increases in the Fintech segment’s income from operations and Adjusted EBITDA were driven by BOSS Money revenue growth, higher margins on BOSS Money transactions and improved operating leverage as the business continues to scale.
• BOSS Money continued to expand to new destinations during 2Q25 (Venezuela and Eritrea) with Brazil expected to come online in 3Q25. BOSS Money also launched debit card payment capabilities at BOSS Money retailers across the U.S. and continued to build out its already extensive payout network in key destination markets.

net2phone

net2phone (Seats in thousands at end of period. $ in millions)
			2Q25				1Q25				2Q24				2Q25-2Q24 (% Δ, $)
Seats**			410				406				375				+9	%
Revenue
Subscription revenue		$	21.0			$	21.0			$	19.3				+9	%
Other revenue		$	0.5			$	0.6			$	1.0				(54	)%
Total Revenue		$	21.5			$	21.6			$	20.4				+6	%
Gross profit		$	17.0			$	17.1			$	16.1				+6	%
Gross profit margin			79.2	%			79.0	%			78.9	%			20	bps
Technology & development		$	2.8			$	3.0			$	2.6				+5	%
SG&A		$	13.0			$	13.1			$	13.1				(1	)%
Income from operations		$	1.1			$	1.0			$	0.4				+201	%
Adjusted EBITDA		$	2.9			$	2.5			$	1.8				+55	%
CapEx		$	1.8			$	1.6			$	1.4				+28	%

net2phone Take-Aways:

• The 9% year over year increase in total seats served was powered by continued expansion in key markets led by the U.S., Brazil, and Mexico. CCaaS seats served increased by 10% year-over year.
• Subscription revenue increased by 9% year-over-year. The increase reflected net seat growth and increased subscription revenue per seat^** in the U.S., offset by the negative FX impact of a strengthened U.S. dollar versus local currencies in net2phone’s key Latin American markets. On a constant currency basis, subscription revenue increased by 14% year over year.
• Operating margin^** increased to 5% from 2% in 2Q24, and Adjusted EBITDA margin^** increased to 13% from 9% in 2Q24. Additional steady margin improvement remains a key strategic focus.
• Following the quarter close, net2phone launched its AI agent, a scalable virtual assistant providing exceptional customer experiences across sales, support, and administrative tasks.

Traditional Communications

Traditional Communications ($ in millions)
			2Q25				1Q25				2Q24				2Q25-2Q24 (% Δ)
Revenue
IDT Digital Payments		$	101.6			$	105.1			$	99.7				+2	%
BOSS Revolution		$	53.3			$	56.8			$	66.7				(20	)%
IDT Global		$	51.3			$	52.4			$	48.7				+5	%
Other		$	5.9			$	6.2			$	7.5				(22	)%
Total Revenue		$	212.0			$	220.5			$	222.5				(5	)%
Gross profit		$	43.1			$	41.3			$	42.3				+2	%
Gross profit margin			20.3	%			18.8	%			19.0	%			+130	bps
Technology & development		$	5.4			$	5.5			$	5.9				(9	)%
SG&A		$	19.4			$	20.0			$	21.4				(9	)%
Income from operations		$	18.1			$	15.7			$	14.6				+24	%
Adjusted EBITDA		$	20.2			$	17.8			$	17.0				+19	%
CapEx		$	1.2			$	1.4			$	1.4				(8	)%

Take-Aways:

• IDT Global continues to mitigate the impacts of the ongoing industry-wide declines in paid-minute voice through a traffic mix shift to higher margin routes, new service offerings, and operational efficiencies.
• For the third consecutive quarter, Traditional Communications’ income from operations and Adjusted EBITDA both increased sequentially. In 2Q25, the increases were driven by increasing gross profit contributions from each of the three major lines of business, as well as by continued efforts to streamline operations and remove costs.

OTHER FINANCIAL RESULTS

Consolidated results for all periods presented include corporate overhead. In 2Q25, Corporate G&A expense decreased to $3.0 million from $3.2 million in 2Q24.

As of January 31, 2025, IDT held $171.1 million in cash, cash equivalents, debt securities, and current equity investments. Also at January 31, 2025, current assets totaled $462.1 million and current liabilities totaled $278.2 million. The Company had no outstanding debt at the quarter end.

Net cash provided by operating activities decreased to $20.2 million in 2Q25 from $28.4 million in 2Q24. Exclusive of changes in customer funds deposits at IDT’s Fintech segment, net cash provided by operating activities decreased to $7.3 million in 2Q25 from $25.4 million in 2Q24. This decrease predominantly reflects the timing of payments made by IDT to cover anticipated BOSS Money disbursement prefunding.

Capital expenditures increased to $4.8 million in 2Q25 from $4.6 million in 2Q24.

IDT EARNINGS ANNOUNCEMENT INFORMATION

This release is available for download in the “Investors & Media” section of the IDT Corporation website (https://www.idt.net/investors-and-media) and has been filed on a current report (Form 8-K) with the SEC.

IDT will host an earnings conference call beginning at 5:30 PM Eastern today with management’s discussion of results followed by Q&A with investors. To listen to the call and participate in the Q&A, dial 1-888-506-0062 (toll-free from the US) or 1-973-528-0011 (international) and provide the following access code: 145736.

A replay of the conference call will be available approximately three hours after the call concludes through March 20, 2025. To access the call replay, dial 1-877-481-4010 (toll-free from the US) or 1-919-882-2331 (international) and provide this replay passcode: 51975. The replay will also be accessible via streaming audio at the IDT investor relations website.

NOTES

^*Adjusted EBITDA and Non-GAAP EPS are Non-GAAP financial measures intended to provide useful information that supplements IDT’s or the relevant segment’s results in accordance with GAAP. Please refer to the Reconciliation of Non-GAAP Financial Measures later in this release for an explanation of these terms and their respective reconciliations to the most directly comparable GAAP measures.

^**See ‘Explanation of Key Performance Metrics’ at the end of this release.

ABOUT IDT CORPORATION

IDT Corporation (NYSE: IDT) is a global provider of fintech and communications solutions through a portfolio of synergistic businesses: National Retail Solutions (NRS), through its point-of-sale (POS) platform, enables independent retailers to operate more effectively while providing advertisers and marketers with unprecedented reach into underserved consumer markets; BOSS Money facilitates innovative international remittances and fintech payments solutions; net2phone provides enterprises and organizations with intelligently integrated cloud communications and contact center services across channels and devices; IDT Digital Payments and the BOSS Revolution calling service make sharing prepaid products and services and speaking with friends and family around the world convenient and reliable; and, IDT Global and IDT Express enable communications services to provision and manage international voice and SMS messaging.

All statements above that are not purely about historical facts, including, but not limited to, those in which we use the words “believe,” “anticipate,” “expect,” “plan,” “intend,” “estimate,” “target” and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent our current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors. Our filings with the SEC provide detailed information on such statements and risks and should be consulted along with this release. To the extent permitted under applicable law, IDT assumes no obligation to update any forward-looking statements.

CONTACT

IDT Corporation Investor Relations
Bill Ulrey
william.ulrey@idt.net
973-438-3838

IDT CORPORATION
CONSOLIDATED BALANCE SHEETS

		January 31, 2025				July 31, 2024
		(Unaudited)
		(in thousands, except per share data)
Assets
Current assets:
Cash and cash equivalents		$	142,152			$	164,557
Restricted cash and cash equivalents			105,554				90,899
Debt securities			23,852				23,438
Equity investments			5,091				5,009
Trade accounts receivable, net of allowance for credit losses of $7,295 at January 31, 2025 and $6,352 at July 31, 2024			45,127				42,215
Settlement assets, net of reserve of $1,804 at January 31, 2025 and $1,866 at July 31, 2024			41,779				22,186
Disbursement prefunding			57,676				30,736
Prepaid expenses			15,989				17,558
Other current assets			24,914				25,927
Total current assets			462,134				422,525
Property, plant, and equipment, net			38,380				38,652
Goodwill			26,149				26,288
Other intangibles, net			5,583				6,285
Equity investments			6,748				6,518
Operating lease right-of-use assets			2,498				3,273
Deferred income tax assets, net			22,333				35,008
Other assets			11,903				11,546
Total assets		$	575,728			$	550,095
Liabilities, redeemable noncontrolling interest, and equity
Current liabilities:
Trade accounts payable		$	22,482			$	24,773
Accrued expenses			89,472				103,176
Deferred revenue			28,384				30,364
Customer funds deposits			104,720				91,893
Settlement liabilities			16,975				12,764
Other current liabilities			16,157				16,374
Total current liabilities			278,190				279,344
Operating lease liabilities			1,349				1,533
Other liabilities			1,093				2,662
Total liabilities			280,632				283,539
Commitments and contingencies
Redeemable noncontrolling interest			11,228				10,901
Equity:
IDT Corporation stockholders’ equity:
Preferred stock, $.01 par value; authorized shares-10,000; no shares issued			–				–
Class A common stock, $.01 par value; authorized shares-35,000; 3,272 shares issued and 1,574 shares outstanding at January 31, 2025 and July 31, 2024			33				33
Class B common stock, $.01 par value; authorized shares-200,000; 28,233 and 28,177 shares issued and 23,491 and 23,684 shares outstanding at January 31, 2025 and July 31, 2024, respectively			282				282
Additional paid-in capital			306,781				303,510
Treasury stock, at cost, consisting of 1,698 and 1,698 shares of Class A common stock and 4,742 and 4,493 shares of Class B common stock at January 31, 2025 and July 31, 2024, respectively			(137,475	)			(126,080	)
Accumulated other comprehensive loss			(19,599	)			(18,142	)
Retained earnings			121,573				86,580
Total IDT Corporation stockholders’ equity			271,595				246,183
Noncontrolling interests			12,273				9,472
Total equity			283,868				255,655
Total liabilities, redeemable noncontrolling interest, and equity		$	575,728			$	550,095

IDT CORPORATION
CONSOLIDATED STATEMENTS OF INCOME
(Unaudited)

		Three Months Ended January 31,								Six Months Ended January 31,
		2025				2024				2025				2024
		(in thousands, except per share data)
Revenues		$	303,349			$	296,098			$	612,915			$	597,302
Direct cost of revenues			191,239				199,171				393,178				406,382
Gross profit			112,110				96,927				219,737				190,920
Operating expenses (gain):
Selling, general and administrative (i)			70,721				67,346				141,772				131,723
Technology and development (i)			12,612				12,925				25,372				25,335
Severance			233				345				410				869
Other operating expense (gain), net			227				294				227				(190	)
Total operating expenses			83,793				80,910				167,781				157,737
Income from operations			28,317				16,017				51,956				33,183
Interest income, net			1,354				1,195				2,782				2,039
Other income (expense), net			207				2,534				(76	)			(3,053	)
Income before income taxes			29,878				19,746				54,662				32,169
Provision for income taxes			(7,665	)			(3,992	)			(13,967	)			(7,939	)
Net income			22,213				15,754				40,695				24,230
Net income attributable to noncontrolling interests			(1,944	)			(1,329	)			(3,178	)			(2,146	)
Net income attributable to IDT Corporation		$	20,269			$	14,425			$	37,517			$	22,084
Earnings per share attributable to IDT Corporation common stockholders:
Basic		$	0.81			$	0.57			$	1.49			$	0.88
Diluted		$	0.80			$	0.57			$	1.48			$	0.87
Weighted-average number of shares used in calculation of earnings per share:
Basic			25,161				25,175				25,182				25,176
Diluted			25,324				25,317				25,343				25,297
(i) Stock-based compensation included in:
Selling, general and administrative expense		$	768			$	2,357			$	1,602			$	2,998
Technology and development expense		$	95			$	130			$	172			$	260

IDT CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

		Six Months Ended January 31,
		2025				2024
		(in thousands)
Operating activities
Net income		$	40,695			$	24,230
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization			10,490				10,146
Deferred income taxes			12,674				5,787
Provision for credit losses, doubtful accounts receivable, and reserve for settlement assets			2,472				1,696
Stock-based compensation			1,774				3,258
Other			1,077				2,829
Changes in assets and liabilities:
Trade accounts receivable			(4,978	)			(7,040	)
Settlement assets, disbursement prefunding, prepaid expenses, other current assets, and other assets			(46,244	)			9,966
Trade accounts payable, accrued expenses, settlement liabilities, other current liabilities, and other liabilities			(11,844	)			(6,200	)
Customer funds deposits			15,701				15
Deferred revenue			(1,500	)			(1,381	)
Net cash provided by operating activities			20,317				43,306
Investing activities
Capital expenditures			(10,100	)			(8,885	)
Purchase of convertible preferred stock in equity method investment			(673	)			(1,009	)
Purchases of debt securities and equity investments			(15,997	)			(19,357	)
Proceeds from maturities and sales of debt securities and redemption of equity investments			16,751				31,231
Net cash (used in) provided by investing activities			(10,019	)			1,980
Financing activities
Dividends paid			(2,524	)			–
Distributions to noncontrolling interests			(50	)			(59	)
Proceeds from borrowings under revolving credit facility			24,534				30,588
Repayment of borrowings under revolving credit facility			(24,534	)			(30,588	)
Purchase of restricted shares of net2phone common stock			–				(3,558	)
Proceeds from exercise of stock options			–				172
Repurchases of Class B common stock			(11,395	)			(3,170	)
Net cash used in financing activities			(13,969	)			(6,615	)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash and cash equivalents			(4,079	)			(3,182	)
Net (decrease) increase in cash, cash equivalents, and restricted cash and cash equivalents			(7,750	)			35,489
Cash, cash equivalents, and restricted cash and cash equivalents at beginning of period			255,456				198,823
Cash, cash equivalents, and restricted cash and cash equivalents at end of period		$	247,706			$	234,312
Supplemental Schedule of Non-Cash Financing Activities
Shares of the Company’s Class B common stock issued to an executive officer for bonus payment		$	1,824			$	–
Value of the Company’s Class B common stock exchanged for National Retail Solutions shares		$	–			$	6,254

^*Reconciliation of Non-GAAP Financial Measures for the Second Quarter Fiscal 2025 and 2024

In addition to disclosing financial results that are determined in accordance with generally accepted accounting principles in the United States of America (GAAP), IDT also disclosed for 2Q25, 1Q25, and 2Q24, Adjusted EBITDA, and for 2Q25 and 2Q24, non-GAAP earnings per diluted share (Non-GAAP EPS). Adjusted EBITDA and Non-GAAP EPS are non-GAAP financial measures intended to provide useful information that supplements IDT’s or the relevant segment’s results in accordance with GAAP. The following explains these terms and their respective reconciliations to the most directly comparable GAAP measures

Generally, a non-GAAP measure is a numerical measure of a company’s performance, financial position, or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with GAAP.

IDT’s measure of Non-GAAP EPS is calculated by dividing non-GAAP net income by the diluted weighted-average shares. IDT’s measure of non-GAAP net income starts with net income attributable to IDT in accordance with GAAP and adds severance expense, stock-based compensation, and other operating expenses, and deducts other operating gains. These additions and subtractions are non-cash and/or non-routine items in the relevant fiscal 2025 and fiscal 2024 periods.

Management believes that IDT’s Adjusted EBITDA and Non-GAAP EPS are measures which provide useful information to both management and investors by excluding certain expenses and non-routine gains and losses that may not be indicative of IDT’s or the relevant segment’s core operating results. Management uses Adjusted EBITDA, among other measures, as a relevant indicator of core operational strengths in its financial and operational decision making. In addition, management uses Adjusted EBITDA and Non-GAAP EPS to evaluate operating performance in relation to IDT’s competitors. Disclosure of these financial measures may be useful to investors in evaluating performance and allows for greater transparency to the underlying supplemental information used by management in its financial and operational decision-making. In addition, IDT has historically reported similar financial measures and believes such measures are commonly used by readers of financial information in assessing performance, therefore the inclusion of comparative numbers provides consistency in financial reporting.

Management refers to Adjusted EBITDA, as well as the GAAP measures income (loss) from operations and net income, on a segment and/or consolidated level to facilitate internal and external comparisons to the segments’ and IDT’s historical operating results, in making operating decisions, for budget and planning purposes, and to form the basis upon which management is compensated.

While depreciation and amortization are considered operating costs under GAAP, these expenses primarily represent the non-cash current period allocation of costs associated with long-lived assets acquired or capitalized in prior periods. IDT’s Adjusted EBITDA, which is exclusive of depreciation and amortization, is a useful indicator of its current performance.

Severance expense is excluded from the calculation of Adjusted EBITDA and Non-GAAP EPS. Severance expense is reflective of decisions made by management in each period regarding the aspects of IDT’s and its segments’ businesses to be focused on in light of changing market realities and other factors. While there may be similar charges in other periods, the nature and magnitude of these charges can fluctuate markedly and do not reflect the performance of IDT’s core and continuing operations.

Other operating (expense) gain, net, which is a component of income (loss) from operations, is excluded from the calculation of Adjusted EBITDA and Non-GAAP EPS. Other operating (expense) gain, net includes, among other items, legal fees net of insurance claims related to Straight Path Communications Inc.’s stockholders’ class action and gain from the write-off of a contingent consideration liability. From time-to-time, IDT may have gains or incur costs related to non-routine legal, tax, and other matters, however, these various items generally do not occur each quarter. IDT believes the gain and losses from these non-routine matters are not components of IDT’s or the relevant segment’s core operating results.

Stock-based compensation recognized by IDT and other companies may not be comparable because of the variety of types of awards as well as the various valuation methodologies and subjective assumptions that are permitted under GAAP. Stock-based compensation is excluded from IDT’s calculation of Non-GAAP EPS because management believes this allows investors to make more meaningful comparisons of the operating results per share of IDT’s core business with the results of other companies. However, stock-based compensation will continue to be a significant expense for IDT for the foreseeable future and an important part of employees’ compensation that impacts their performance.

Adjusted EBITDA and Non-GAAP EPS should be considered in addition to, not as a substitute for, or superior to, income (loss) from operations, cash flow from operating activities, net income, basic and diluted earnings per share or other measures of liquidity and financial performance prepared in accordance with GAAP. In addition, IDT’s measurements of Adjusted EBITDA and Non-GAAP EPS may not be comparable to similarly titled measures reported by other companies.

Following are reconciliations of Adjusted EBITDA and Non-GAAP EPS to the most directly comparable GAAP measure, which are, (a) for Adjusted EBITDA, income (loss) from operations for IDT’s reportable segments and net income for IDT on a consolidated basis, and (b) for Non-GAAP EPS, diluted earnings per share.

IDT Corporation
Reconciliation of Net Income to Adjusted EBITDA
(unaudited) in millions. Figures may not foot or cross-foot due to rounding to millions

		Total IDT Corporation				Traditional Communica-tions				net2phone				NRS				Fintech				Corporate
Three Months Ended January 31, 2025 (2Q25)
Net income attributable to IDT Corporation		$	20.3
Adjustments:
Net income attributable to noncontrolling interests			1.9
Net income			22.2
Provision for income taxes			7.7
Income before income taxes			29.9
Interest income, net			(1.4	)
Other income, net			(0.2	)
Income (loss) from operations			28.3			$	18.1			$	1.1			$	9.1			$	3.1			$	(3.1	)
Depreciation and amortization			5.2				1.9				1.6				1.0				0.8				–
Other operating expense, net			0.2				–				0.2				–				–				–
Severance			0.2				0.2				–				–				–				–
Adjusted EBITDA		$	34.0			$	20.2			$	2.9			$	10.1			$	3.9			$	(3.1	)

IDT Corporation
Reconciliation of Net Income to Adjusted EBITDA
(unaudited) in millions. Figures may not foot or cross-foot due to rounding to millions

		Total IDT Corporation				Traditional Communica-tions				net2phone				NRS				Fintech				Corporate
Three Months Ended October 31, 2024 (1Q25)
Net income attributable to IDT Corporation		$	17.2
Adjustments:
Net income attributable to noncontrolling interests			1.2
Net income			18.5
Provision for income taxes			6.3
Income before income taxes			24.8
Interest income, net			(1.4	)
Other expense, net			0.3
Income (loss) from operations			23.6			$	15.7			$	1.0			$	6.6			$	3.2			$	(2.9	)
Depreciation and amortization			5.2				2.0				1.6				1.0				0.7				–
Severance			0.2				0.2				–				–				–				–
Adjusted EBITDA		$	29.1			$	17.8			$	2.5			$	7.6			$	4.0			$	(2.9	)

		Total IDT Corporation				Traditional Communica-tions				net2phone				NRS				Fintech				Corporate
Three Months Ended January 31, 2024 (2Q24)
Net income attributable to IDT Corporation		$	14.4
Adjustments:
Net income attributable to noncontrolling interests			1.3
Net income			15.8
Provision for income taxes			4.0
Income before income taxes			19.7
Interest income, net			(1.2	)
Other income, net			(2.5	)
Income (loss) from operations			16.0			$	14.6			$	0.4			$	5.3			$	(0.7	)		$	(3.6	)
Depreciation and amortization			5.1				2.0				1.6				0.8				0.7				–
Severance			0.3				0.3				–				–				–				–
Other operating expense (gain), net			0.3				–				(0.1	)			–				–				0.4
Adjusted EBITDA		$	21.8			$	17.0			$	1.8			$	6.1			$	–			$	(3.2	)

IDT Corporation
Reconciliation of Earnings per share to Non-GAAP EPS
(unaudited) in millions, except per share data. Figures may not foot due to rounding to millions.

			2Q25				2Q24
Net income attributable to IDT Corporation		$	20.3			$	14.4
Adjustments (add) subtract:
Stock-based compensation			(0.9	)			(2.5	)
Severance expense			(0.2	)			(0.3	)
Other operating expense, net			(0.2	)			(0.3	)
Total adjustments			(1.3	)			(3.1	)
Income tax effect of total adjustments			(0.3	)			(0.6	)
			1.0				2.5
Non-GAAP net income		$	21.3			$	16.9
Earnings per share:
Basic		$	0.81			$	0.57
Total adjustments			0.03				0.10
Non-GAAP – basic		$	0.84			$	0.67
Weighted-average number of shares used in calculation of basic earnings per share			25.2				25.2
Diluted		$	0.80			$	0.57
Total adjustments			0.04				0.10
Non-GAAP – diluted		$	0.84			$	0.67
Weighted-average number of shares used in calculation of diluted earnings per share			25.3				25.3

^**Explanation of Key Performance Metrics

NRS’ recurring revenue is calculated by subtracting NRS’ revenue from POS terminal sales from its revenue in accordance with GAAP. NRS’ Monthly Average Recurring Revenue per Terminal is calculated by dividing NRS’ recurring revenue by the average number of active POS terminals during the period. The average number of active POS terminals is calculated by adding the beginning and ending number of active POS terminals during the period and dividing by two. NRS’ recurring revenue divided by the average number of active POS terminals is divided by three when the period is a fiscal quarter. Recurring revenue and Monthly Average Recurring Revenue per Terminal are useful for comparisons of NRS’ revenue and revenue per customer to prior periods and to competitors and others in the market, as well as for forecasting future revenue from the customer base.

The NRS ‘Rule of 40’ score is a metric used to evaluate the performance of SaaS providers. It postulates that a SaaS company’s growth rate when added to its free cash flow rate should equal or exceed 40 percent. For NRS, the ‘Rule of 40′ result for 2Q25 is computed by adding the growth rate of NRS’ recurring revenue for 2Q25 compared to 2Q24 to NRS’ Adjusted EBITDA less CapEx as a percentage of total NRS revenue for the twelve months ended January 31, 2025. The ‘Rule of 40’ is a common SaaS industry metric to assess a company’s balance between growth and profitability. A total above 40 is thought to indicate a healthy combination of expansion and financial stability, making it a useful tool for investors and management to gauge the potential for long-term success and make informed decisions about resource allocation and business strategy.

net2phone’s subscription revenue is calculated by subtracting net2phone’s equipment revenue and revenue generated by a legacy SIP trunking offering in Brazil from its revenue in accordance with GAAP. net2phone’s cloud communications and contact center offerings are priced on a per-seat basis, with customers paying based on the number of users in their organization. The number of seats served and subscription revenue trends and comparisons between periods are used in the analysis of net2phone’s revenues and direct cost of revenues and are strong indications of the top-line growth and performance of the business.

net2phone’s subscription revenue per seat is calculated by dividing net2phone’s subscription revenue, as defined in the preceding paragraph, by the average number of seats served during the period. The average number of seats served is calculated by adding the beginning and ending number of seats served and dividing by two. Subscription revenue per seat is the amount of revenue generated by each seat sold during the period. It provides a basis for pricing seat-based services, as well as for comparing performance in past periods and projecting future revenue, and for comparing the value of each seat served to competitors.

net2phone’s operating margin is calculated by dividing GAAP income from operations by GAAP revenue for the period indicated. Operating margin measures the percentage that each dollar of revenue contributes to profitability. Operating margin is useful for evaluating current period profitability relative to sales, for comparisons to prior period performance, for forecasting future income from operations levels based on projected levels of sales, and for comparing net2phone’s relative profitability to its competitors and peers.

net2phone’s Adjusted EBITDA margin is calculated by dividing net2phone’s Adjusted EBITDA, a Non-GAAP measure, by net2phone’s GAAP revenue for the comparable quarter or period. Adjusted EBITDA margin measures the percentage that each dollar of revenue contributes to profitability before interest, taxes, depreciation and amortization, and other adjustments as described in the Reconciliation of Non-GAAP Financial Measures. net2phone’s Adjusted EBITDA margin is useful for evaluating current period profitability relative to sales, for comparisons to prior period performance, for forecasting future Adjusted EBITDA levels based on projected levels of sales, and for comparing net2phone’s relative profitability to its competitors and peers.

BOSS Money’s Average Revenue per Transaction is calculated by dividing BOSS Money’s revenue in accordance with GAAP by the number of transactions during the period. Average Revenue per Transaction is useful for comparisons of BOSS Money’s revenue per transaction to prior periods and to competitors and others in the market, as well as for forecasting future revenue based on transaction trends.

# # #