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Business Segment Information | 6 Months Ended
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Jan. 31, 2024
Segment Reporting [Abstract] |
Business Segment Information | Note 2—Business Segment Information The Company has four reportable business segments, NRS, Fintech, net2phone, and Traditional Communications. Any items not included within, or allocated to, one of the segments is presented under “Corporate.” The NRS segment is an operator of a nationwide point-of-sale (“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: (i) BOSS Money, a provider of international money remittance and related value/payment transfer services; and (ii) 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: (i) IDT Digital Payments, which enables customers to transfer airtime and bundles of airtime, messaging, and data to international and domestic mobile accounts; (ii) BOSS Revolution Calling, an international long-distance calling service marketed primarily to immigrant communities in the United States and Canada; and (iii) 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. 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. 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. Operating results for the business segments of the Company were as follows: Schedule of Operating Results of Business Segments
(in thousands) |  | National Retail Solutions |  |  | Fintech |  |  | net2phone |  |  | Traditional Communications |  |  | Corporate |  |  | Total |
Three Months Ended January 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  | $ | 25,223 |  |  | $ | 27,987 |  |  | $ | 20,353 |  |  | $ | 222,535 |  |  | $ | — |  |  | $ | 296,098 |
Income (loss) from operations |  |  | 5,349 |  |  |  | (736 | ) |  |  | 367 |  |  |  | 14,618 |  |  |  | (3,581 | ) |  |  | 16,017 |
Depreciation and amortization: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Included in “Direct cost of revenues” |  |  | 483 |  |  |  | 62 |  |  |  | 600 |  |  |  | 185 |  |  |  | — |  |  |  | 1,330 |
Included in “Selling, general and administrative expense” |  |  | 294 |  |  |  | 662 |  |  |  | 952 |  |  |  | 1,844 |  |  |  | 17 |  |  |  | 3,769 |
Three Months Ended January 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  | $ | 19,822 |  |  | $ | 20,321 |  |  | $ | 17,794 |  |  | $ | 255,999 |  |  | $ | — |  |  | $ | 313,936 |
Income (loss) from operations |  |  | 5,374 |  |  |  | (806 | ) |  |  | (575 | ) |  |  | 17,008 |  |  |  | (2,820 | ) |  |  | 18,181 |
Depreciation and amortization: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Included in “Direct cost of revenues” |  |  | 357 |  |  |  | 21 |  |  |  | 536 |  |  |  | 191 |  |  |  | — |  |  |  | 1,105 |
Included in “Selling, general and administrative expense” |  |  | 237 |  |  |  | 637 |  |  |  | 855 |  |  |  | 2,160 |  |  |  | 18 |  |  |  | 3,907 |
Six Months Ended January 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  | $ | 49,217 |  |  | $ | 54,550 |  |  | $ | 40,280 |  |  | $ | 453,255 |  |  | $ | — |  |  | $ | 597,302 |
Income (loss) from operations |  |  | 10,810 |  |  |  | (2,120 | ) |  |  | 360 |  |  |  | 30,024 |  |  |  | (5,891 | ) |  |  | 33,183 |
Depreciation and amortization: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Included in “Direct cost of revenues” |  |  | 933 |  |  |  | 85 |  |  |  | 1,199 |  |  |  | 369 |  |  |  | — |  |  |  | 2,586 |
Included in “Selling, general and administrative expense” |  |  | 579 |  |  |  | 1,333 |  |  |  | 1,792 |  |  |  | 3,807 |  |  |  | 49 |  |  |  | 7,560 |
Six Months Ended January 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  | $ | 39,135 |  |  | $ | 40,208 |  |  | $ | 34,744 |  |  | $ | 521,665 |  |  | $ | — |  |  | $ | 635,752 |
Income (loss) from operations |  |  | 10,605 |  |  |  | 706 |  |  |  | (1,631 | ) |  |  | 34,271 |  |  |  | (5,544 | ) |  |  | 38,407 |
Depreciation and amortization: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Included in “Direct cost of revenues” |  |  | 676 |  |  |  | 45 |  |  |  | 1,034 |  |  |  | 384 |  |  |  | — |  |  |  | 2,139 |
Included in “Selling, general and administrative expense” |  |  | 395 |  |  |  | 1,235 |  |  |  | 1,709 |  |  |  | 4,287 |  |  |  | 36 |  |  |  | 7,662 |
Total depreciation and amortization |  |  | 395 |  |  |  | 1,235 |  |  |  | 1,709 |  |  |  | 4,287 |  |  |  | 36 |  |  |  | 7,662 |

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