IDT CORP
For the period ended Oct 31, 2024. Filed Dec 10, 2024.
View on SEC.govAbout this filing
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.
Oct 31, 2024 · Filed Dec 10, 2024
IDT$83.22+0.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)
| Three Months Ended October 31, | ||
|---|---|---|
| 2024 | 2023 | |
| (in thousands) | ||
| Operating activities | ||
| Net income | $18,483 | $8,476 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation and amortization | 5,241 | 5,047 |
| Deferred income taxes | 5,485 | 3,561 |
| Provision for credit losses, doubtful accounts receivable, and reserve for settlement assets | 1,002 | 759 |
| Stock-based compensation | 912 | 771 |
| Other | 692 | 2,425 |
| Changes in assets and liabilities: | ||
| Trade accounts receivable | (200) | (4,572) |
| Settlement assets, disbursement prefunding, prepaid expenses, other current assets, and other assets | (20,380) | 8,250 |
| Trade accounts payable, accrued expenses, settlement liabilities, other current liabilities, and other liabilities | (12,771) | (6,285) |
| Customer funds deposits | 2,810 | (3,017) |
| Deferred revenue | (1,110) | (540) |
| Net cash provided by operating activities | 164 | 14,875 |
| Investing activities | ||
| Capital expenditures | (5,278) | (4,322) |
| Purchase of convertible preferred stock in equity method investment | (673) | (672) |
| Purchases of debt securities and equity investments | (12,669) | (7,750) |
| Proceeds from maturities and sales of debt securities and redemption of equity investments | 9,878 | 17,067 |
| Net cash (used in) provided by investing activities | (8,742) | 4,323 |
| Financing activities | ||
| Dividends paid | (1,261) | — |
| Distributions to noncontrolling interests | — | (55) |
| Proceeds from borrowings under revolving credit facility | 14,243 | 30,315 |
| Repayment of borrowings under revolving credit facility | (14,243) | (30,315) |
| Proceeds from exercise of stock options | — | 172 |
| Repurchases of Class B common stock | (2,432) | (2,851) |
| Net cash used in financing activities | (3,693) | (2,734) |
| Effect of exchange rate changes on cash, cash equivalents, and restricted cash and cash equivalents | 28 | (6,834) |
| Net (decrease) increase in cash, cash equivalents, and restricted cash and cash equivalents | (12,243) | 9,630 |
| Cash, cash equivalents, and restricted cash and cash equivalents at beginning of period | 255,456 | 198,823 |
| Cash, cash equivalents, and restricted cash and cash equivalents at end of period | $243,213 | $208,453 |
| Supplemental Schedule of Non-Cash Financing Activities | ||
| Shares of the Company’s Class B common stock issued to an executive officer for bonus payment | $1,824 | $— |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.