IDT Corp (NYSE: IDT) is a telecommunications and fintech company that operates prepaid international calling services, international money transfer, cloud communications, and point-of-sale technology for independent retailers. Revenue comes from transactional fees on international calls and money transfers, subscription fees for cloud communications seats, payment processing fees, and advertising revenue on in-store POS terminals. Traditional Communications, which includes the BOSS Revolution prepaid calling brand and IDT Global wholesale voice termination, generated 69.8% of total revenue in FY2025, down from 74.6% in FY2024, while Fintech accounted for 12.6% and National Retail Solutions (NRS) accounted for 10.5% of FY2025 revenue. The company primarily serves immigrant communities in the United States through a retail network of over 30,000 BOSS Revolution retailers and digital channels. IDT Corp is headquartered in Newark, New Jersey, and its Chairman, Howard S. Jonas, holds shares representing a majority of the combined voting power of outstanding capital stock.

Revenue model

Transactional revenue from prepaid international calling (per-minute rates and fixed calling plans via BOSS Revolution), international money transfer fees (BOSS Money), and wholesale voice termination (IDT Global). Recurring subscription revenue from cloud UCaaS and CCaaS seats (net2phone). Payment processing fees from NRS-connected independent retailers. Advertising revenue from POS terminal customer-facing screens provisioned via the NRS platform. Data analytics revenue from the NRS network's reach into urban convenience store markets.

Products and services

BOSS Revolution: prepaid international calling app and retailer network. BOSS Money: international money transfer service targeting underbanked and unbanked customers. IDT Global: wholesale international voice termination, which handled 5.68 billion minutes in FY2025. IDT Express: wholesale voice and direct inward dialing (DID) services for small and medium-size businesses. net2phone: cloud UCaaS platform offering voice, video, chat, softphone, and mobile applications. uContact: CCaaS solution for call centers ranging from 20 to 1,000 agents. net2phone AI Agent and net2phone Coach: AI-powered customer-facing and workforce coaching tools. NRS (National Retail Solutions): purpose-built POS hardware and software for independent retailers, including payment processing and in-store advertising via a 15-inch customer-facing screen.

Customers and end markets

Immigrant communities in the United States, specifically first- and second-generation immigrants, served through BOSS Revolution calling and BOSS Money transfer products. Underbanked and unbanked consumers who conduct cash transactions at BOSS Revolution retail locations. Independent urban convenience store and independent retailer operators served by the NRS POS platform. Small and medium-size businesses and call centers served by net2phone UCaaS and uContact CCaaS. Wholesale telecom carriers and operators served by IDT Global.

Value-chain role

IDT operates as a retail-facing and wholesale telecommunications and fintech intermediary. On the retail side, it originates prepaid calling minutes and money transfer transactions through its own app and a 30,000-retailer distribution network, then terminates traffic over its own global interconnection network. On the wholesale side, IDT Global sells international termination capacity to other carriers. For NRS, IDT occupies the POS hardware, software, payment processing, and advertising network layer between independent retailers and their suppliers and advertisers.

Geographic exposure

Primarily United States-based retail distribution and customer base. IDT Global maintains direct connections to Tier 1 providers across North America, Latin America, Asia, Africa, Europe, and the Middle East. net2phone has UCaaS customers in Mexico and Brazil, with WhatsApp integration planned for those markets.

Source: SEC 10-K, filed 2025-09-29

Industry: Telephone Communications (No Radiotelephone) Peers: Verizon Communications Inc AT&T Inc ATN International Inc Frontier Communications Parent, Inc. Consolidated Communications Holdings, Inc. Radius Global Infrastructure, Inc. Ooma Inc Starry Group Holdings, Inc.