IDT Corporation (NYSE:IDT) Q1 2023 Earnings Conference Call December 5, 2022 6:00 PM ET

Company Participants

Samuel Jonas - Chief Executive Officer

Marcelo Fischer - Chief Financial Officer

Conference Call Participants

David Polansky - Immersion Investments

Operator

Good evening and welcome to the IDT Corporation’s First 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 October 31, 2022. During remarks by IDT’s Chief Executive Officer, Samuel Jonas, all participants will be in 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 Form 8-K with the SEC.

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

Samuel Jonas

Thank you, operator. Welcome to IDT’s earnings conference call. After my remarks, Marcelo Fischer, IDT’s Chief Financial Officer, will join me and we will be available to answer questions. My discussion today focuses on the first quarter of our fiscal year 2023, the 3 months ended October 31. 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 by Monday, December 12.

This quarter, please note that our NRS business is now a separate reportable segment by greater visibility into its financial performance. The Fintech segment, which previously included NRS, now compromises BOSS Money and several smaller financial service offerings and businesses that were previously included in our Traditional Communications segment. These include our Gibraltar-based bank and our Awards2Go gift cards. Within Fintech, we have continued to breakout BOSS Money revenue and KPIs for you.