IDT CORP
For the period ended Jan 31, 2024. Filed Mar 11, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jan 31, 2024 · Filed Mar 11, 2024
IDT$83.22+0.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)
| Six Months Ended January 31, | ||
|---|---|---|
| 2024 | 2023 | |
| (in thousands) | ||
| Operating activities | ||
| Net income | $24,230 | $27,864 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation and amortization | 10,146 | 9,801 |
| Deferred income taxes | 5,787 | 7,788 |
| Provision for credit losses, doubtful accounts receivable, and reserve for settlement assets | 1,696 | 915 |
| Net unrealized loss from marketable securities | 1,234 | 2,349 |
| Stock-based compensation | 3,258 | 1,858 |
| Other | 1,595 | 1,359 |
| Change in assets and liabilities: | ||
| Trade accounts receivable | (7,040) | 2,483 |
| Settlement assets, disbursement prefunding, prepaid expenses, other current assets, and other assets | 9,966 | 2,323 |
| Trade accounts payable, accrued expenses, settlement liabilities, other current liabilities, and other liabilities | (12,021) | (19,344) |
| Customer deposits at IDT Financial Services Limited (Gibraltar-based bank) | 2,253 | 15 |
| Deferred revenue | (1,381) | (1,795) |
| Net cash provided by operating activities | 39,723 | 35,616 |
| Investing activities | ||
| Capital expenditures | (8,885) | (10,578) |
| Purchase of convertible preferred stock in equity method investment | (1,009) | — |
| Payments for acquisition | (60) | — |
| Purchases of debt securities and equity investments | (19,357) | (28,129) |
| Proceeds from maturities and sales of debt securities and redemptions of equity investments | 31,231 | 27,531 |
| Net cash provided by (used in) investing activities | 1,920 | (11,176) |
| Financing activities | ||
| Distributions to noncontrolling interests | (59) | (187) |
| Proceeds from other liabilities | 100 | 300 |
| Repayment of other liabilities. | (15) | (2,014) |
| Proceeds from borrowings under revolving credit facility | 30,588 | 2,383 |
| Repayment of borrowings under revolving credit facility. | (30,588) | (2,383) |
| Proceeds from exercise of stock options | 172 | 172 |
| Repurchases of Class B common stock | (3,170) | (5,341) |
| Net cash used in financing activities | (2,972) | (7,070) |
| Effect of exchange rate changes on cash, cash equivalents, and restricted cash and cash equivalents | (3,182) | 746 |
| Net increase in cash, cash equivalents, and restricted cash and cash equivalents | 35,489 | 18,116 |
| Cash, cash equivalents, and restricted cash and cash equivalents at beginning of period | 198,823 | 189,562 |
| Cash, cash equivalents, and restricted cash and cash equivalents at end of period | $234,312 | $207,678 |
| Supplemental schedule of non-cash financing activities | ||
| Restricted net2phone common stock withheld from employees for income tax obligations | $3,558 | $— |
| Value of Class B common stock exchanged for National Retail Solutions shares | $6,254 | $— |
| Stock issued to certain executive officers for bonus payments | $— | $615 |
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