NEWARK, NJ, June 02, 2022 (GLOBE NEWSWIRE) — IDT Corporation (NYSE: IDT), a global provider of fintech, cloud communications, and traditional communications services, today reported results for the third quarter of its 2022 fiscal year, the three months ended April 30, 2022.
THIRD QUARTER FISCAL YEAR 2022 (3Q22) HIGHLIGHTS
(Throughout this release, results are for 3Q22 and are compared to 3Q21 unless otherwise noted. All ‘per share’ results are per diluted share. Please see the final page of this release for important supplemental information on asterisked metrics.)
- Key business unit revenue and related metrics:
- National Retail Solutions (NRS) recurring revenue* increased 101.9% to $10.0 million. Active terminals increased by 1,400 sequentially to approximately 17,900, and payment processing accounts increased by 1,200 sequentially to approximately 9,200.
- net2phone subscription revenue** increased 42.0% to $14.2 million. Seats served increased by 22,000 sequentially, including nearly 7,000 through the previously announced acquisition of a CCaaS provider, to approximately 279,000.
- Money Transfer revenue increased 51.5% to $15.5 million. Transaction volumes increased by 27.1% to 2.4 million, with solid growth in both direct to consumer and retail channels.
- Consolidated revenue decreased 12.2% to $328 million from $374 million. Direct cost of revenue decreased 17.7% to $248 million from $301 million.
- Consolidated income from operations…
