IDT Corporation (NYSE:IDT) Q1 2025 Earnings Conference Call December 4, 2024 5:30 PM ET

Company Participants

Shmuel Jonas - Chief Executive Officer
Marcelo Fischer - Chief Financial Officer

Conference Call Participants

Inigo Alonso – Unknown Company

Operator

Good evening, and welcome to the IDT Corporation's First Quarter Fiscal Year’s 2025 Earnings Call.

In today's presentation, IDT's management will discuss IDT's financial and operational results for the three-month periods ended October 31, 2024. During prepared remarks by IDT's Chief Executive Officer, Shmuel 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 with investors.

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 per share. A schedule provided in IDT earnings release reconciles adjusted EBITDA, non-GAAP net income and non-GAAP earnings 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.

Shmuel Jonas

Thank you, operator. I apologize for my voice. Welcome to IDT's earnings conference call. My remarks today focused on the first quarter of our fiscal year 2025, the 3 and 12 months ended October 31.

For a more detailed discussion of our financial and operational results for the quarter, please read our earnings release filed earlier today and our Form 10-K that we expect to file with the SEC next Tuesday.

Building on our momentum from fiscal 2024, IDT delivered strong financial results in the first quarter of fiscal 2025 including record levels of gross profit, gross profit margin and adjusted EBITDA. Consolidated revenue has now increased sequentially for three consecutive quarters. NRS along with our Fintech segment powered by BOSS Money and net2phone each achieved robust increases in revenue, gross profit and adjusted EBITDA. At NRS we're focused on providing solutions to address the needs of our independent retailer market while heavily investing to develop new products and services to broaden our addressable markets. In Q1, we continue to achieve increased adoption rates on our payment processing offerings and SaaS feature plans. We look forward to continuing this momentum through the remainder of the fiscal year.