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Business Segment Information | 12 Months Ended
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Jul. 31, 2023
Segment Reporting [Abstract] |
Business Segment Information | Note 2—Business Segment Information The Company’s reportable segments are distinguished by types of service, customers, and methods used to provide their services. The operating results of these business segments are regularly reviewed by the Company’s chief operating decision maker. The accounting policies of the segments are the same as the accounting policies of the Company as a whole. There are no significant asymmetrical allocations to segments. The Company evaluates the performance of its business segments based primarily on income (loss) from operations. The NRS segment is an operator of a nationwide POS network providing independent retailers with store management software, electronic payment processing, and other ancillary merchant services. NRS’ POS platform provides marketers with digital out-of-home advertising and transaction data. The Fintech segment is comprised of BOSS Money, a provider of international money remittance and related value/payment transfer services, as well as other, significantly smaller, financial services businesses, including Leaf Global Fintech Corporation (“Leaf”), a provider of digital wallet services in emerging markets, a variable interest entity that operates money transfer businesses, and IDT Financial Services Limited (“IDT Financial Services”), the Company’s Gibraltar-based bank. The net2phone segment is comprised of net2phone’s cloud communications and contact center offerings. The Traditional Communications segment includes IDT Digital Payments, which enables customers to transfer airtime and bundles of airtime, messaging, and data to international and domestic mobile accounts, BOSS Revolution Calling, an international long-distance calling service marketed primarily to immigrant communities in the United States and Canada, and IDT Global, a wholesale provider of international voice and SMS termination and outsourced traffic management solutions to telecoms worldwide. Traditional Communications also includes other small businesses and offerings including early-stage business initiatives and mature businesses in harvest mode. As of August 1, 2022, the Company revised its reportable business segments primarily to reflect the growth of its financial technology businesses and their increased contributions to the Company’s consolidated results. The Company’s four reportable business segments reflect management’s current approach to analyzing results, its resource allocation strategy, and its assessment of business performance. The NRS segment was previously included in the Company’s Fintech segment. In addition, certain lines of business were reclassified to the Fintech segment from the Traditional Communications segment. Comparative segment information has been reclassified and restated in all periods to conform to the current period presentation. Corporate costs mainly include compensation, consulting fees, treasury, tax and accounting services, human resources, corporate purchasing, corporate governance including Board of Directors’ fees, internal and external audit, investor relations, corporate insurance, corporate legal, and other corporate-related general and administrative expenses. Corporate does not generate any revenues, nor does it incur any direct cost of revenues. IDT CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued) Operating results for the business segments of the Company were as follows: Schedule of Operating Results of Business Segments
(in thousands) |  | Fintech |  |  | National Retail Solutions |  |  | net2phone |  |  | Traditional Communications |  |  | Corporate |  |  | Total |
Year ended July 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  | $ | 86,610 |  |  | $ | 77,115 |  |  | $ | 72,388 |  |  | $ | 1,002,741 |  |  | $ | — |  |  | $ | 1,238,854 |
(Loss) income from operations |  |  | (2,533 | ) |  |  | 14,400 |  |  |  | (2,755 | ) |  |  | 61,288 |  |  |  | (9,657 | ) |  |  | 60,743 |
Depreciation and amortization |  |  | (2,683 | ) |  |  | (2,363 | ) |  |  | (5,608 | ) |  |  | (9,428 | ) |  |  | (54 | ) |  |  | (20,136 | )
Year ended July 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  | $ | 64,593 |  |  | $ | 51,299 |  |  | $ | 58,185 |  |  | $ | 1,189,980 |  |  | $ | — |  |  | $ | 1,364,057 |
(Loss) income from operations |  |  | (6,887 | ) |  |  | 11,208 |  |  |  | (11,132 | ) |  |  | 75,826 |  |  |  | (8,926 | ) |  |  | 60,089 |
Depreciation and amortization |  |  | (2,231 | ) |  |  | (906 | ) |  |  | (5,374 | ) |  |  | (9,527 | ) |  |  | (77 | ) |  |  | (18,115 | )
Year ended July 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  | $ | 57,620 |  |  | $ | 24,748 |  |  | $ | 44,502 |  |  | $ | 1,320,120 |  |  | $ | — |  |  | $ | 1,446,990 |
(Loss) income from operations |  |  | (1,947 | ) |  |  | (252 | ) |  |  | (15,460 | ) |  |  | 82,042 |  |  |  | (7,393 | ) |  |  | 56,990 |
Depreciation and amortization |  |  | (1,515 | ) |  |  | (519 | ) |  |  | (5,053 | ) |  |  | (10,601 | ) |  |  | (76 | ) |  |  | (17,764 | )
Total assets for the reportable segments are not provided because a significant portion of the Company’s assets service multiple segments and the Company does not track such assets separately by segment. Geographic Information Net long-lived assets and total assets held outside of the United States, which are located primarily in Western Europe, were as follows: Schedule of Net Long-lived Assets and Total Assets by Geographic Areas
(in thousands) |  | United States |  |  | Other Countries |  |  | Total |
July 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |
Long-lived assets, net |  | $ | 25,854 |  |  | $ | 12,801 |  |  | $ | 38,655 |
Total assets |  |  | 267,746 |  |  |  | 243,064 |  |  |  | 510,810 |
July 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |
Long-lived assets, net |  | $ | 22,732 |  |  | $ | 14,134 |  |  | $ | 36,866 |
Total assets |  |  | 254,839 |  |  |  | 242,255 |  |  |  | 497,094 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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