IDT Corp (NYSE:IDT) stock surges 20.56% (As on October 9, 11:46:16 AM UTC-4, Source: Google Finance) after the company in the fourth quarter of FY 24 has reported revenue growth of 2 percent to $308.8 Million in the fourth quarter of FY 24, driven by revenue growth at NRS, BOSS Money, net2phone and IDT Digital Payments. As of July 31, 2024, IDT held $193.0 million in cash, cash equivalents, debt securities, and current equity investments. Current assets totaled $422.5 million and current liabilities totaled $279.3 million. IDT had no outstanding debt at the fiscal year end. Exclusive of changes in customer deposit balances at IDT’s Gibraltar-based bank, net cash provided by operating activities in 4Q24 increased to $31.9 million compared to $27.1 million in 4Q23. Capital expenditures decreased to $5.3 million in 4Q24 from $5.9 million in 4Q23. Consolidated Adjusted EBITDA increased 40% to $25.2 million, the highest level of quarterly Adjusted EBITDA in IDT’s history. Net income attributable to IDT increased 362% to $36.8 million from $8.0 million, including the positive impact of an income tax benefit in 4Q24 of $23.6 million

Moreover, at NRS, the company continued to make good progress on the strategic priorities – expanding our customer base in the large independent retailer market, increasing the penetration of NRS Pay, developing point of sale solutions for new verticals, building out our advertising tech and deploying hundreds of screens in new locations outside of our independent retail market – all while significantly increasing profitability. At BOSS Money, the company again achieved year-over-year transaction volume and revenue growth of over 40% during the fourth quarter. BOSS Money’s economics continue to improve as the business scales, which enabled the Fintech segment to achieve its first quarter of positive cash-flow generation. net2phone is steadily building its customer base – again adding approximately twelve thousand net new seats including two thousand CCaaS seats in the fourth quarter- while also doing a good job of controlling costs. As a result, net2phone’s Adjusted EBTIDA margin more than doubled compared to the year ago quarter. The company is focused on further improving net2phone’s bottom line through continued volume growth and increasing revenue per user – driven by expansion of the higher-revenue, higher-margin CCaaS offering and by migrating customers to premium plans and features, including plans with new AI-powered functionalities. In the Traditional Communications segment, the company significantly improved the economics of our business, and began to see the expected payoff from cost reduction initiatives the company implemented throughout fiscal year 2024.