IDT Corporation reported strong financial results for the first quarter of fiscal year 2026.
Segments like NRS, Fintech, and net2phone showed significant increases in income from operations.
Record levels of consolidated gross profit and Adjusted EBITDA were achieved during the quarter.
NRS Performance
Recurring revenue increased by 22% to $35.3 million, with a 35% rise in income from operations and 33% growth in Adjusted EBITDA.
Fintech Growth
Fintech segment saw digital revenue rise by 20% to $27.9 million, with a 97% increase in income from operations and 87% growth in Adjusted EBITDA.
net2phone Success
net2phone's subscription revenue grew by 10% to $23.0 million, with a remarkable 94% surge in income from operations and 44% growth in Adjusted EBITDA.
- IDT experienced consolidated revenue growth of 4% to $322.8 million.
- Gross profit margins improved by 10% to $118.2 million with a 180 basis point increase to 36.6%.
- Income from operations surged by 31% to $30.9 million, and Net income attributable to IDT rose by 30% to $22.3 million.
IDT Corporation's first quarter results showcase robust performance across its segments, with NRS, Fintech, and net2phone driving significant growth. The company's strategic focus on innovation and leveraging digital solutions has contributed to its positive financial outcomes.