IDT Corporation (NYSE:IDT) stock rose 4.23% (As on October 7, 11:55:41 AM UTC-4, Source: Google Finance) after the company in the fourth quarter of FY 22 has reported 16% fall in the Consolidated revenue in to $329 million from $390 million as a result of a 23% decrease in the Traditional Communications segment’s revenue. National Retail Solutions (NRS) recurring revenue^* increased 157% to $17.7 million in 4Q22. FY2022 recurring revenue increased 129% to $45.3 million. Net active POS terminals increased by approximately 1400 during 4Q22 to end the quarter with approximately 19,400. BOSS Money remittance revenue increased 56% to $17.0 million in 4Q22. Transaction volume increased by 31% to 2.7 million. FY2022 revenue increased 16% to $57.5 million with transaction volume increasing 24% to 9.4 million. net2phone subscription revenue^* increased 37% to $15.1 million in 4Q22. Seats served increased by approximately 12,000 sequentially to end the quarter with approximately 291,000. FY2022 subscription revenue increased 38% to $53.6 million. Net income attributable to IDT in 4Q22 decreased to $17.2 million from $38.7 million. Consolidated income from operations in 4Q22 increased 13% to $19.2 million from $16.9 million. Consolidated Adjusted EBITDA in 4Q22 increased 9% to $24.1 million from $22.2 million.  IDT repurchased 554,744 shares of its Class B common stock in the open market for $13.4 million during 4Q22.

Moreover, as of July 31, 2022, NRS’ POS terminal network comprised approximately 19,400 active POS terminals, an increase of 38% compared to a year earlier, and approximately 10,300 payment processing accounts, an increase of 77% compared to a year earlier. NRS monthly average recurring revenue per terminal increased to $316 from $169. In August 2022, NRS and Bringg, a leading delivery management platform provider, announced a partnership to enable NRS retailers nationwide to source and manage external delivery providers for home delivery services utilizing Bringg’s delivery hub. Transaction volumes in 4Q22 increased 31% to 2.67 million from 2.04 million. Average revenue per transaction in 4Q22 increased 19% to $6.35 from $5.33. The increase was driven by the development and introduction of new platform functionalities enabling more flexible and granular pricing strategies. During 4Q22, BOSS Money announced an expansion of service to Ethiopia by offering direct deposit to approximately 40 million Ethiopian bank accounts through an agreement with Terra Pay, a global mobile-first payments provider.