IDT Corporation (NYSE:IDT) Q3 2023 Earnings Conference Call June 5, 2023 5:30 PM ET

Company Participants

Shmuel Jonas - CEO

Marcelo Fischer - CFO

Conference Call Participants

David Polansky - Immersion Investments

Adam Wilk - Greystone Capital

Operator

Good evening, and welcome to the IDT Corporation's Third Quarter Fiscal Year 2023 Earnings Call. In today's presentation, IDT's management will discuss IDT's financial and operational results for the 3-month period ended April 30, 2023. During remarks by IDT's Chief Executive Officer, Shmuel Jonas, all participants will be in a listen-only mode. [Operator Instructions]. After Mr. Jonas' remarks, Marcelo Fischer, IDT's Chief Financial Officer, will join Mr. Jonas for Q&A.

Any forward-looking statements made during this conference call, either in the prepared remarks or in the Q&A session, whether general or specific in nature, are subject to risks and uncertainties that may cause actual results to differ materially from those which the company anticipates. These risks and uncertainties include, but are not limited to, specific risks and uncertainties discussed in the reports that IDT files periodically with the SEC. IDT assumes no obligation either to update any forward-looking statements that they have made or may make or to update the factors that may cause actual results to differ materially from those that they forecast.

In their presentation or in the Q&A session, IDT's management may make reference to non-GAAP measures, including adjusted EBITDA, non-GAAP net income and non-GAAP earnings or loss per share. A schedule provided in the IDT earnings release reconciles adjusted EBITDA, non-GAAP net income and non-GAAP earnings or loss per share to the nearest corresponding GAAP measures.

Please note that the IDT earnings release is available on the Investor Relations page of the IDT Corporation website. The earnings release has also been filed on the Form 8-K with the SEC.

I will now turn the conference over to Mr. Jonas.

Shmuel Jonas

Thank you very much, operator. Welcome to IDT's earnings conference call. After my remarks, Marcelo Fischer, IDT's Chief Financial Officer, will join me, and we'll be available to answer questions.

My brief remarks today focus on the third quarter of our fiscal year 2023, the 3 months ended April 30. For a more detailed discussion of our financial and operational results, please read our earnings release filed earlier today and our Form 10-Q that we expect to file with the Securities and Exchange Commission on Friday.

For the third quarter of our 2023 fiscal year, IDT generated year-over-year increases in gross profit, adjusted EBITDA and EPS, highlighted by the continued expansion of our 3 high-growth, high-margin businesses and by the relatively resilient cash flow from our Traditional Communications segment even as revenue from this segment continued to decline.