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12 IDT IDT Corporation Reports First Quarter Fiscal Year 2022 Results NEWARK , NJ December 7 , 2021 : IDT Corporation ( NYSE : IDT ) , a global provider of fintech , cloud communications , and traditional communications services , today reported results for the first quarter of its 2022 fiscal year , the three months ended October 31 , 2021 . FIRST QUARTER FISCAL YEAR 2022 ( 1Ọ22 ) HIGHLIGHTS ( Throughout this release , results are for 1022 and are compared to 1021 unless otherwise noted . Loss per share , EPS , Non GAAP loss per share * , and Non - GAAP EPS * are per diluted share . ) Consolidated revenue increased 8 % to $ 370 million from $ 343 million . Key business unit revenue included : O National Retail Solutions ( NRS ) revenue increased 104.3 % to $ 10.1 million . o net2phone subscription revenue increased 37.5 % to $ 12.5 million . o Money Transfer revenue decreased 18 % to $ 12.5 million . The decrease was entirely due to the positive impact of transitory foreign exchange market conditions that , as previously disclosed , materially improved revenue and gross profit during the second half of fiscal 2020 and the first half of fiscal 2021. Absent that impact , revenue would have increased by 45 % . O Mobile Top - Up revenue increased 34.1 % to $ 128.5 million , driving a 6.7 % increase in the broader Traditional Communications segment's revenue to $ 334.6 million . Consolidated revenue - less - direct - cost - of - revenue increased 12 % to $ 78 million from $ 70 million , the ninth consecutive quarter of year - over - year increases . ● Consolidated income from operations increased 3.9 % to $ 13.8 million from $ 13.3 million . • Adjusted EBITDA * increased 1.3 % to $ 18.3 million from $ 18.1 million . Adjusted EBITDA * less capital expenditures ( CAPEX ) ** increased 3.3 % to $ 14.0 million from $ 13.5 million . Loss per share was $ 0.10 compared to EPS of $ 0.32 as a result of an unrealized $ 12.5 million loss on the mark - to - market value of the Company's investment in Rafael Holdings , Inc.'s Class B common stock . The Non - GAAP loss per share * , inclusive of this unrealized loss , was $ 0.08 compared to Non GAAP EPS * of $ 0.35 . REMARKS BY SHMUEL JONAS , CEO " Our first - quarter operational results were strong once again , highlighted by robust performance from our high - margin net2phone , NRS , and BOSS Money businesses , as well as from Mobile Top - Up . As a result , we delivered year - over - year increases in revenue , gross profit , income from operations , and Adjusted EBITDA . " At NRS , strong demand for NRS PAY payment processing , digital advertising , and transaction data services - coupled with the continued expansion of our POS network - boosted NRS revenue by 104 % year - over - year to $ 10.1 million in the first quarter . Recurring revenue –- which excludes revenue from the sale of new terminals - increased 126 % to $ 8.6 million . As of October 31st , NRS had over 15,100 active terminals an increase of 37 % year - over - year - and over 6,800 payment processing accounts - an increase of 118 % year - over - year . 1