IDT Corporation

IDT Corp is a U.S.-based communications and payments company built around international calling, wholesale voice and SMS termination, and prepaid mobile airtime transfer services. It also operates adjacent businesses such as net2phone and NRS, giving it a mix of consumer, wholesale, and enterprise-facing revenue streams.

9,9 %

36,2 %

6,2 %

+2,1 %

1.78

1.78

— IDT Corporation
%
Traditional Communications69.8% International calling, wholesale termination, and airtime transfer services sold through consumer and wholesale channels.
net2phone15% Cloud communications and subscription-based business services, including seats and recurring revenue.
NRS10% Point-of-sale terminals, payment processing, and related merchant services.
BOSS Money / Fintech5.2% Money transfer and digital payment-related services for consumer remittance use cases.

IDT sells to a mix of immigrant consumers, telecom wholesalers, merchants, and small businesses...

  • Immigrant consumer communitiesprimary

    Buy BOSS Revolution and related services for international calling and money/airtime transfers to family abroad.

  • Wholesale telecom providersprimary

    Buy IDT Global termination and outsourced traffic management to route international traffic.

  • Merchants and POS userssecondary

    Buy NRS terminals and payment processing to accept card and digital payments.

  • Small and mid-sized businessessecondary

    Buy net2phone seats and subscriptions for cloud communications and business calling.

  • Retail distributors and retailerssecondary

    Sell IDT Digital Payments and BOSS Revolution products through physical and digital channels.

IDT is headquartered in the United States, but a meaningful portion of revenue comes from international operations and...

  • •United States is the core operating base and major consumer market
  • •Canada is important for BOSS Revolution immigrant calling demand
  • •International operations contributed 21% of fiscal 2025 revenue
  • •Foreign-currency revenue creates translation and transaction exposure
  • •Geopolitical risk exists in markets linked to Belarus, Ukraine, and Israel

IDT is focusing on using its existing customer base and distribution channels to grow adjacent businesses while...

01
Portfolio expansion through acquisitions and investmentsmedium-term

Adds new revenue streams and reduces reliance on declining legacy voice services.

02
Improve economics in IDT Globalshort-term

Higher-margin route mix can offset industry-wide declines in paid-minute voice.

03
Grow digital and subscription businessesmedium-term

These businesses can diversify revenue away from mature calling minutes.

IDT’s business is exposed to customer concentration, credit risk, and the financial stability of wholesale telecom...

high

Customer concentration and non-payment

A small number of customers account for a meaningful share of revenue and receivables, increasing write-off risk.

Scope
Five largest customers were 8.9% of consolidated revenue in fiscal 2025; five largest receivables were 20.4% of gross trade receivables.
Materiality
high
high

Structural decline in traditional voice traffic

Unlimited wireless plans and OTT voice/video messaging reduce minutes of use and pressure legacy calling revenue.

Scope
BOSS Revolution and IDT Global are directly tied to international voice usage.
Materiality
high
high

Cybersecurity and network disruption

Service interruptions or breaches could impair customer trust and disrupt telecom/payment operations.

Scope
Applies across telecom networks, payment systems, and cloud communications.
Materiality
high
medium

Regulatory and compliance burden

Telecom, payments, data privacy, tax, and licensing rules can change and increase costs or restrict activity.

Scope
Includes FCC rules, payment-method compliance, and anti-illicit activity controls.
Materiality
medium
medium

Foreign exchange and geopolitical exposure

International revenue and operations create currency volatility and country-specific disruption risk.

Scope
Management cited Belarus, Ukraine, and Israel as geopolitical risk areas.
Materiality
medium
Revenue recognition timing
Affects deferred revenue and quarter-to-quarter revenue timing
Allowance for credit losses
Can materially affect operating profit and cash flow through write-offs
Goodwill impairment
Impairment charges would reduce earnings and equity
Seasonality
Makes quarterly revenue and margin trends less comparable

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: 28/04/2026