Revenue growth reaccelerated to 7.1% year-over-year in 2026Q4 (revenue of $339.0M) with operating margin expanding to 10.0% from 5.2% two years prior, suggesting mix-driven operating leverage in Fintech and net2phone, though net margin of 6.4% trails the 11.9% recorded in 2024Q4, implying non-operating items still distort period-to-period earnings.
IDT Corporation (IDT) annual income statement — 30-year revenue, gross profit & net income history
| Metric | Jul'26 | Jul'25 | Jul'24 | Jul'23 | Jul'22 | Jul'21 | Jul'20 | Jul'19 | Jul'18 | Jul'17 | Jul'16 | Jul'15 | Jul'14 | Jul'13 | Jul'12 | Jul'11 | Jul'10 | Jul'09 | Jul'08 | Jul'07 | Jul'06 | Jul'05 | Jul'04 | Jul'03 | Jul'02 | Jul'01 | Jul'00 | Jul'99 | Jul'98 | Jul'97 |
|---|
| Revenue | 1.3B | 1.23B | 1.21B | 1.24B | 1.36B | 1.45B | 1.35B | 1.41B | 1.55B | 1.5B | 1.5B | 1.6B | 1.65B | 1.62B | 1.51B | 1.56B | 1.4B | 1.54B | 1.88B | 2.01B | 2.23B | 2.47B | 2.22B | 1.83B | 1.53B | 1.23B | 1.09B | 732.2M | 335.4M | 135.2M |
| Revenue Growth % | 5.4% | 2.13% | -2.67% | -9.18% | -5.73% | 7.52% | -4.5% | -8.94% | 3.05% | 0.37% | -6.29% | -3.32% | 1.91% | 7.55% | -3.13% | 10.99% | -8.91% | -18.07% | -6.69% | -9.6% | -9.81% | 11.35% | 20.84% | 19.78% | 24.43% | 12.53% | 49.4% | 118.31% | 148.08% | 134.32% |
| Cost of Revenue | 801.17M | 785.3M | 815.62M | 875.73M | 1.03B | 1.15B | 1.08B | 1.17B | 1.31B | 1.28B | 1.25B | 1.33B | 1.37B | 1.36B | 1.27B | 1.27B | 1.11B | 1.17B | 1.47B | 1.62B | 1.78B | 1.84B | 1.68B | 1.41B | 1.21B | 1.07B | 875.34M | 559.3M | 240.9M | 92.2M |
| Gross Profit | 496.79M | 446.19M | 390.16M | 363.12M | 329.63M | 292.94M | 261.76M | 235.16M | 241.46M | 226.02M | 249.67M | 268.41M | 284.27M | 265.04M | 237.36M | 286.1M | 290.73M | 365.06M | 409.21M | 397.69M | 446.44M | 625.43M | 537.75M | 425.08M | 326.61M | 164.1M | 218.57M | 172.9M | 94.5M | 43M |
| Gross Margin % | 38.27% | 36.23% | 32.36% | 29.31% | 24.17% | 20.24% | 19.45% | 16.69% | 15.6% | 15.05% | 16.69% | 16.81% | 17.21% | 16.35% | 15.75% | 18.39% | 20.74% | 23.73% | 21.79% | 19.76% | 20.05% | 25.34% | 24.26% | 23.17% | 21.32% | 13.33% | 19.98% | 23.61% | 28.18% | 31.8% |
| Gross Profit Growth % | 11.34% | 14.36% | 7.45% | 10.16% | 12.52% | 11.91% | 11.31% | -2.61% | 6.83% | -9.47% | -6.98% | -5.58% | 7.26% | 11.66% | -17.04% | -1.59% | -20.36% | -10.79% | 2.9% | -10.92% | -28.62% | 16.31% | 26.51% | 30.15% | 99.03% | -24.92% | 26.42% | 82.96% | 119.77% | 101.88% |
| Operating Expenses | 374.43M | 345.77M | 325.4M | 301.16M | 269.42M | 235.5M | 240.31M | 234.72M | 228.45M | 220.41M | 225.52M | 243.87M | 254.44M | 231.29M | 229.06M | 269.5M | 253.72M | 357.52M | 503.05M | 581.67M | 643.58M | 707.06M | 601.46M | 485.39M | 550.9M | 596.82M | 435.18M | 170.5M | 98.3M | 46.4M |
| Other Operating Expenses | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBITDA | 143.76M | 121.43M | 85.1M | 80.88M | 78.2M | 74.75M | 45.35M | 24.5M | 31.18M | 27.25M | 46.74M | 111.47M | 46.16M | 44.3M | 24.95M | 36.52M | 65.59M | -24.17M | 2.18B | -92.7M | -133.37M | -3.94M | -22.06M | 15.69M | -158.28M | -372.36M | -125.13M | 44.4M | 7.5M | 1.5M |
| EBITDA Margin % | 11.08% | 9.86% | 7.06% | 6.53% | 5.73% | 5.17% | 3.37% | 1.74% | 2.01% | 1.81% | 3.12% | 6.98% | 2.79% | 2.73% | 1.66% | 2.35% | 4.68% | -1.57% | 115.84% | -4.61% | -5.99% | -0.16% | -1% | 0.86% | -10.33% | -30.25% | -11.44% | 6.06% | 2.24% | 1.11% |
| EBITDA Growth % | 18.38% | 42.69% | 5.22% | 3.42% | 4.62% | 64.82% | 85.1% | -21.41% | 14.41% | -41.69% | -58.07% | 141.49% | 4.19% | 77.59% | -31.7% | -44.32% | 371.32% | -101.11% | 2446.86% | 30.49% | -3283.18% | 82.13% | -240.63% | 109.91% | 57.49% | -197.58% | -381.82% | 492% | 400% | 110.34% |
| Depreciation & Amortization | 21.4M | 21.01M | 20.35M | 20.14M | 18.11M | 17.76M | 20.41M | 22.63M | 22.8M | 21.7M | 20.54M | 18.42M | 16.32M | 14.91M | 16.65M | 20.98M | 33.43M | 49.28M | 68.75M | 80.01M | 87.42M | 111.89M | 99.87M | 89.31M | 66.02M | 60.35M | 91.48M | 42M | 11.3M | 4.9M |
| D&A / Revenue % | 1.65% | 1.71% | 1.69% | 1.63% | 1.33% | 1.23% | 1.52% | 1.61% | 1.47% | 1.45% | 1.37% | 1.15% | 0.99% | 0.92% | 1.1% | 1.35% | 2.39% | 3.2% | 3.66% | 3.98% | 3.93% | 4.53% | 4.5% | 4.87% | 4.31% | 4.9% | 8.36% | 5.74% | 3.37% | 3.62% |
| Operating Income (EBIT) | 122.36M | 100.42M | 64.75M | 60.74M | 60.09M | 56.99M | 24.95M | 1.87M | 8.38M | 5.55M | 26.2M | 93.05M | 29.84M | 29.39M | 8.3M | 15.54M | 32.16M | -73.46M | 2.11B | -172.71M | -220.79M | -115.84M | -121.93M | -73.62M | -224.29M | -432.71M | -216.61M | 2.4M | -3.8M | -3.4M |
| Operating Margin % | 9.43% | 8.15% | 5.37% | 4.9% | 4.41% | 3.94% | 1.85% | 0.13% | 0.54% | 0.37% | 1.75% | 5.83% | 1.81% | 1.81% | 0.55% | 1% | 2.29% | -4.77% | 112.18% | -8.58% | -9.92% | -4.69% | -5.5% | -4.01% | -14.64% | -35.15% | -19.8% | 0.33% | -1.13% | -2.51% |
| Operating Income Growth % | 21.84% | 55.09% | 6.6% | 1.09% | 5.44% | 128.44% | 1233.4% | -77.67% | 50.98% | -78.82% | -71.84% | 211.83% | 1.53% | 254.24% | -46.63% | -51.67% | 143.78% | -103.49% | 1319.83% | 21.78% | -90.6% | 5% | -65.62% | 67.18% | 48.17% | -99.76% | -9125.45% | 163.16% | -11.76% | 78.34% |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 159K | 148K | 824K | 2.98M | 5.68M | 6.26M | 2.66M | -4.43M | 0 | 0 | 0 | 0 | 26.09M | 21.76M | 0 | 0 | 0 | 0 | 0 |
| Interest Coverage | - | - | - | - | - | - | - | - | - | - | - | 154.40x | 201.62x | 40.96x | -1.35x | 3.52x | 5.14x | -40.26x | -22.39x | - | - | - | - | -2.31x | -8.40x | - | - | - | - | - |
| Interest / Revenue % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0.01% | 0.01% | 0.05% | 0.2% | 0.37% | 0.45% | 0.17% | -0.24% | 0% | 0% | 0% | 0% | 1.42% | 1.42% | 0% | 0% | 0% | 0% | 0% |
| Non-Operating Income | 1000K | 1000K | -1000K | 64K | -1000K | 1000K | -224K | 1000K | -277K | 1000K | 1000K | -847K | -1000K | 1000K | -1000K | -1000K | -1000K | -1000K | -1000K | 1000K | 1000K | 1000K | 1000K | 1000K | -1000K | 1000K | 1000K | 1000K | -1000K | 500K |
| Pretax Income | 129.98M | 105.84M | 61.91M | 60.81M | 34.88M | 65.22M | 17.72M | 453K | 8.1M | 7.62M | 29.47M | 92.2M | 24.99M | 33.95M | -6.99M | 14.33M | 25.93M | -109.58M | -210.89M | -125.66M | -204.09M | -29.33M | -51.81M | -87.89M | -280.71M | 741.75M | 452.23M | 24.1M | -8M | -3.8M |
| Pretax Margin % | 10.01% | 8.59% | 5.13% | 4.91% | 2.56% | 4.51% | 1.32% | 0.03% | 0.52% | 0.51% | 1.97% | 5.77% | 1.51% | 2.09% | -0.46% | 0.92% | 1.85% | -7.12% | -11.23% | -6.24% | -9.17% | -1.19% | -2.34% | -4.79% | -18.33% | 60.26% | 41.34% | 3.29% | -2.39% | -2.81% |
| Income Tax | 34.88M | 24.7M | -6.35M | 16.44M | 5.88M | -31.67M | -3.7M | 123K | 2.9M | -2.02M | 4.11M | 6.09M | 3.98M | 15.87M | -42.76M | -5.54M | 5.28M | -4.52M | 9.92M | 3.6M | 2.58M | 11.9M | 9.58M | -70.37M | -124.34M | 209.4M | 218.4M | 17.9M | -1.7M | 3.8M |
| Effective Tax Rate % | 26.84% | 23.34% | -10.26% | 27.04% | 16.85% | -48.55% | -20.88% | 27.15% | 35.82% | -26.52% | 13.95% | 6.6% | 15.93% | 46.75% | 612.02% | -38.64% | 20.34% | 4.13% | -4.71% | -2.87% | -1.26% | -40.56% | -18.49% | 80.07% | 44.3% | 28.23% | 48.29% | 74.27% | 21.25% | -100% |
| Net Income | 86.63M | 76.09M | 64.45M | 40.49M | 27.03M | 96.47M | 21.43M | 330K | 4.21M | 8.18M | 23.51M | 84.49M | 18.78M | 11.61M | 38.65M | 26.81M | 20.29M | -155.45M | -224.33M | 58.62M | -178.65M | -43.81M | -95.71M | -17.52M | -303.35M | 532.36M | 230.85M | 2.9M | -6.4M | -3.8M |
| Net Margin % | 6.67% | 6.18% | 5.35% | 3.27% | 1.98% | 6.67% | 1.59% | 0.02% | 0.27% | 0.54% | 1.57% | 5.29% | 1.14% | 0.72% | 2.56% | 1.72% | 1.45% | -10.1% | -11.95% | 2.91% | -8.02% | -1.77% | -4.32% | -0.95% | -19.81% | 43.25% | 21.1% | 0.4% | -1.91% | -2.81% |
| Net Income Growth % | 13.85% | 18.06% | 59.18% | 49.81% | -71.98% | 350.19% | 6393.94% | -92.16% | -48.54% | -65.22% | -72.17% | 349.8% | 61.83% | -69.97% | 44.14% | 32.14% | 113.05% | 30.71% | -482.66% | 132.81% | -307.76% | 54.22% | -446.39% | 94.23% | -156.98% | 130.61% | 7860.35% | 145.31% | -68.42% | 75.64% |
| EPS (Diluted) | 3.46 | 3.01 | 2.54 | 1.58 | 1.03 | 3.70 | 0.81 | 0.01 | 0.17 | 0.35 | 1.03 | 3.63 | 0.82 | 0.52 | 1.75 | 1.19 | 0.94 | -6.90 | -8.84 | 2.13 | -5.58 | -1.35 | -3.27 | -0.66 | -12.12 | 21.36 | 9.21 | 0.12 | -0.32 | -0.27 |
| EPS Growth % | 14.95% | 18.5% | 60.76% | 53.4% | -72.16% | 356.79% | 6130.77% | -92.35% | -51.43% | -66.02% | -71.63% | 342.68% | 57.69% | -70.29% | 47.06% | 26.6% | 113.62% | 21.95% | -515.02% | 138.17% | -313.33% | 58.72% | -395.45% | 94.55% | -156.74% | 131.92% | 7575% | 137.5% | -18.52% | 80.15% |
| EPS (Basic) | 3.47 | 3.02 | 2.55 | 1.59 | 1.05 | 3.78 | 0.82 | 0.01 | 0.17 | 0.35 | 1.03 | 3.69 | 0.85 | 0.56 | 1.87 | 1.30 | 0.99 | -6.90 | -8.84 | 2.13 | -5.58 | -1.35 | -3.27 | -0.66 | -12.12 | 23.37 | 9.90 | 0.13 | -0.45 | -0.27 |
| Diluted Shares Outstanding | 25.02M | 25.3M | 25.4M | 25.58M | 26.36M | 26.05M | 26.44M | 25.31M | 24.72M | 23.31M | 22.82M | 23.25M | 22.94M | 22.32M | 22.06M | 22.48M | 21.55M | 22.54M | 25.39M | 27.39M | 32.01M | 32.35M | 29.31M | 26.73M | 25.04M | 24.93M | 25.08M | 23.91M | 20.19M | 13.91M |
Quick answers to the most common questions about buying IDT stock.
For fiscal year 2026, IDT Corporation (IDT) reported total revenue of $1.30B. This represents a 860.0% increase compared to $135.2M in 1997.
IDT Corporation (IDT) is profitable, generating $86.6M in net income for the fiscal year ending 2026 with a net profit margin of 6.7%.
IDT Corporation (IDT) reported an operating income of $122.4M, resulting in an operating profit margin of 9.4%. This margin reflects the operational efficiency of the business before interest and taxes.
IDT Corporation (IDT) generated $496.8M in gross profit for the year, representing a gross profit margin of 38.3%. This demonstrates the company's core pricing power and production efficiency.
Key Metrics
Top Statement Risk
Legacy voice decay offsets fintech gains
Metrics are mathematically derived from official filings.
Revenue Growth Reaccelerates on Fintech Mix
Revenue growth accelerated to 7.1% year over year in 2026Q4, the strongest quarter in the ten-quarter series, based on IDT's reported quarterly statements, as higher-margin Fintech and net2phone contributions appear to offset continued secular erosion in Traditional Communications voice traffic.
The revenue trajectory improved materially across the window, with growth moving from 0.1% in 2024Q3 to 7.1% in 2026Q4, and 2026 quarters averaging roughly 5.4% versus approximately 1.5% across the first half of 2025. Given IDT's segment structure, this pattern appears consistent with faster growth in the NRS digital advertising and net2phone subscription bases outpacing continued contraction in wholesale voice. Whether the acceleration proves durable will likely depend on whether recurring Fintech revenue becomes large enough to outgrow the legacy decline on a steady basis, rather than benefiting from quarter-to-quarter revenue-recognition presentation choices.
Carrier Costs Squeeze Legacy Voice Margins
IDT's consolidated gross margin of roughly 36% masks a variable-cost legacy voice business where international termination rates set by third-party carriers, not management, dictate unit economics, according to company segment disclosures; mix shifts toward NRS subscriptions and digital advertising are what actually move the margin needle.
The dominant operating cost is the direct cost of revenue — carrier termination and bandwidth payments that scale almost linearly with legacy voice volume, which means the 36.23% gross margin cited for Traditional Communications is largely a function of third-party pricing rather than management action. Consolidated gross margin should therefore be interpreted as a mix indicator: as low-margin wholesale voice shrinks and higher-margin NRS and net2phone revenue expands, reported margins should drift upward without any structural improvement in carrier economics. Investors should be cautious about extrapolating consolidated margin trends when the same revenue base can be presented on a gross or net basis across periods, which can move revenue and cost of sales simultaneously without changing economic contribution.
EPS Quality Clouded by Non-Operating Swings
Operating income more than doubled from $15.4M in 2024Q3 to $33.8M in 2026Q4, yet net income has been volatile, with 2024Q4 net margin of 11.9% exceeding operating margin of 6.5%, based on IDT's reported income statements, implying non-operating items distort period-to-period EPS.
The underlying operating result does look stronger, with operating margin climbing from 5.2% to 10.0% over the same period, suggesting the improvement is not purely a below-the-line effect. However, net income has not tracked operating income consistently: 2024Q4 generated $36.8M of net income on only $20.1M of operating income, and 2025Q4 delivered a $0.67 EPS after two quarters above $0.80, which points to meaningful non-operating or non-recurring items in the EPS series. The income statement data reports $0.87 diluted EPS for 2026Q4 on a 29.9% year-over-year increase, while the release context indicates the beat/miss versus the $0.98 estimate is indeterminate and forward guidance was skipped; investors should therefore anchor on segment-level operating income rather than consolidated EPS for earnings-power assessment.
Op Income Outgrows Revenue on Mix
Operating margin expanded from 5.2% to 10.0% between 2024Q3 and 2026Q4 while revenue grew only about 13%, suggesting genuine operating leverage in the Fintech and net2phone mix, though capital expenditure data is unavailable and the earnings translation cannot be tied to specific investments.
Because capital expenditure figures are not present in the supplied data, the direct translation of investment into earnings cannot be measured; what can be observed is that the near-doubling of operating income against modest revenue growth implies incremental contribution is coming from revenue mix and cost structure rather than volume expansion alone. The inconsistent depreciation and amortization line — reported at zero in some quarters and between $5.1M and $5.4M in others — further prevents a reliable assessment of whether reported earnings are being supported by unusually heavy non-cash charges. On the evidence available, the earnings improvement appears driven more by the shift toward NRS advertising and net2phone subscriptions than by capital deployment, which would characterize the growth as less asset-intensive and potentially more scalable than a traditional telecom profile.
Margin Inflection Emerged From 2025 Lows
The earnings inflection appears to have occurred around 2025Q2, when operating margin recovered to 9.3% after 2024Q3's 5.2% trough, as reported in IDT's quarterly results, marking a sustained step-up in profitability that has since held between 8.6% and 10.0%.
The persistence of the new margin level is the notable feature: six consecutive quarters have landed between 8.6% and 10.0% operating margin despite revenue growth ranging widely from 2.4% to 7.1%, which suggests the improvement reflects a structural change in revenue mix rather than a favorable quarter. The inflection is consistent with higher-margin Fintech and subscription revenue displacing low-margin voice, a trend the company's own segment commentary also points to. The principal caveat is that the new margin plateau was established while the legacy revenue base continued to shrink, so the durability of the inflection depends on the growth segments continuing to outscale the Traditional Communications decline.
Mix Shift May Mask Legacy Decay
IDT's 2026Q4 results arrive without reported EPS against consensus or forward guidance, per its most recent earnings release, and the durability of the mix shift depends on NRS and net2phone outgrowing legacy voice decline and UCaaS price competition from Microsoft and Zoom.
The strongest challenge to the narrative is that reported operating performance appears to be improving at the same time the legacy revenue base it was historically funded by may be contracting faster, which places execution risk on both sides of the mix-shift story. Competition in UCaaS from Microsoft Teams and Zoom could compress net2phone pricing and raise customer acquisition costs, while NRS's advertising and data revenue rests on terminal activations in a fragmented, cash-heavy retail niche that is not obviously defensible at scale. The disclosure environment reinforces the skepticism: with the consensus beat/miss indeterminate and guidance skipped, investors cannot verify whether the margin trajectory is accelerating or plateauing, and near-term demand visibility remains, on the available evidence, unproven.