Business Segment Information

9 Months Ended

Apr. 30, 2022

Segment Reporting [Abstract]

Business Segment Information

Note 2—Business Segment Information

The Company has three reportable business segments, Fintech, net2phone-Unified Communications as a Service (“UCaaS”), or net2phone-UCaaS, and Traditional Communications. 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 Fintech segment is comprised of National Retail Solutions (“NRS”), an operator of a nationwide point of sale (“POS”) network providing payment processing, digital advertising, transaction data, and ancillary services, and BOSS Money, a provider of international money remittance and related value/payment transfer services.

The net2phone-UCaaS segment is comprised of net2phone’s cloud communications offerings.

The Traditional Communications segment includes Mobile Top-Up, 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 (formerly known as Carrier Services), a wholesale provider of international voice and SMS termination and outsourced traffic management solutions to telecoms worldwide. Traditional Communications also includes other smaller businesses, some of which are in harvest mode.

Corporate costs 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, business development, charitable contributions, travel, 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:

(in thousands)	Fintech			net2phone- UCaaS			Traditional Communications		Corporate			Total
Three Months Ended April 30, 2022
Revenues	$	26,923		$	15,555		$	285,875	$	—		$	328,353
Income (loss) from operations		157			(2,257	)		17,388		(1,960	)		13,328
Three Months Ended April 30, 2021
Revenues	$	16,644		$	11,445		$	345,742	$	—		$	373,831
(Loss) income from operations		(1,403	)		(3,965	)		20,355		(1,115	)		13,872
Nine Months Ended April 30, 2022
Revenues	$	72,573		$	42,003		$	920,918	$	—		$	1,035,494
(Loss) income from operations		(63	)		(9,315	)		57,372		(7,073	)		40,921
Nine Months Ended April 30, 2021
Revenues	$	55,229		$	32,012		$	969,781	$	—		$	1,057,022
Income (loss) from operations		1,487			(11,503	)		55,334		(5,273	)		40,045