IDT (IDT) 10-Q 10 Dec 21 2022 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Oct. 31, 2021	Dec. 08, 2021
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Oct. 31, 2021
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2022
Current Fiscal Year End Date	--07-31
Entity File Number	1-16371
Entity Registrant Name	IDT CORPORATION
Entity Central Index Key	0001005731
Entity Tax Identification Number	22-3415036
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	520 Broad Street
Entity Address, City or Town	Newark
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	07102
City Area Code	(973)
Local Phone Number	438-1000
Title of 12(b) Security	Class B common stock, par value $.01 per share
Trading Symbol	IDT
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Common Class A [Member]
Entity Common Stock, Shares Outstanding		1,574,326
Common Class B [Member]
Entity Common Stock, Shares Outstanding		24,187,548

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Oct. 31, 2021	Jul. 31, 2021
Current assets:
Cash and cash equivalents	$ 114,543	$ 107,147
Restricted cash and cash equivalents	107,317	119,769
Debt securities	13,633	14,012
Equity investments	31,144	42,434
Trade accounts receivable, net of allowance for doubtful accounts of $4,810 at October 31, 2021 and $4,438 at July 31, 2021	51,263	46,644
Disbursement prefunding	23,969	27,656
Prepaid expenses	17,130	13,694
Other current assets	26,491	16,779
Total current assets	385,490	388,135
Property, plant, and equipment, net	30,870	30,829
Goodwill	14,798	14,897
Other intangibles, net	7,312	7,578
Equity investments	9,487	11,654
Operating lease right-of-use assets	7,768	7,671
Deferred income tax assets, net	41,686	41,502
Other assets	10,318	10,389
Total assets	507,729	512,655
Current liabilities:
Trade accounts payable	31,615	24,502
Accrued expenses	120,440	129,085
Deferred revenue	41,299	42,293
Customer deposits	100,342	115,524
Other current liabilities	32,223	27,930
Total current liabilities	325,919	339,334
Operating lease liabilities	5,533	5,473
Other liabilities	975	1,234
Total liabilities	332,427	346,041
Commitments and contingencies
Redeemable noncontrolling interest	10,010
IDT Corporation stockholders’ equity:
Preferred stock, $.01 par value; authorized shares—10,000; no shares issued
Additional paid-in capital	278,306	278,021
Treasury stock, at cost, consisting of 1,698 and 1,698 shares of Class A common stock and 2,192 and 2,192 shares of Class B common stock at October 31, 2021 and July 31, 2021, respectively	(60,439)	(60,413)
Accumulated other comprehensive loss	(9,226)	(10,183)
Accumulated deficit	(45,336)	(42,858)
Total IDT Corporation stockholders’ equity	163,602	164,864
Noncontrolling interests	1,690	1,750
Total equity	165,292	166,614
Total liabilities and equity	507,729	512,655
Common Class A [Member]
IDT Corporation stockholders’ equity:
Common stock, value	33	33
Common Class B [Member]
IDT Corporation stockholders’ equity:
Common stock, value	$ 264	$ 264

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Oct. 31, 2021	Jul. 31, 2021
Accounts Receivable, Allowance for Credit Loss, Current	$ 4,810	$ 4,438
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Common Class A [Member]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	35,000,000	35,000,000
Common stock, shares issued	3,272,000	3,272,000
Common stock, shares outstanding	1,574,000	1,574,000
Treasury Stock, Shares	1,698,000	1,698,000
Common Class B [Member]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	26,380,000	26,379,000
Common stock, shares outstanding	24,188,000	24,187,000
Treasury Stock, Shares	2,192,000	2,192,000

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands		3 Months Ended
		Oct. 31, 2021	Oct. 31, 2020
Income Statement [Abstract]
Revenues		$ 370,083	$ 343,425
Costs and expenses:
Direct cost of revenues (exclusive of depreciation and amortization)		291,625	273,174
Selling, general and administrative (i)	[1]	60,113	52,140
Depreciation and amortization		4,446	4,493
Severance		38	113
Total costs and expenses		356,222	329,920
Other operating expense, net (see Note 11)		(88)	(252)
Income from operations		13,773	13,253
Interest income (expense), net		13	(41)
Other expense, net		(16,216)	(1,380)
(Loss) income before income taxes		(2,430)	11,832
Benefit from (provision for) income taxes		85	(3,417)
Net (loss) income		(2,345)	8,415
Net income attributable to noncontrolling interests		(133)	(127)
Net (loss) income attributable to IDT Corporation		$ (2,478)	$ 8,288
(Loss) earnings per share attributable to IDT Corporation common stockholders:
Basic		$ (0.10)	$ 0.32
Diluted		$ (0.10)	$ 0.32
Weighted-average number of shares used in calculation of (loss) earnings per share:
Basic		25,566,000	25,534,000
Diluted		25,566,000	25,861,000
[1]	Stock-based compensation included in selling, general and administrative expenses

Consolidated Statements of Op_2

Consolidated Statements of Operations (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2021	Oct. 31, 2020
Income Statement [Abstract]
Stock-based compensation included in selling, general and administrative expenses	$ 285	$ 506

Consolidated Statements of Comp

Consolidated Statements of Comprehensive (Loss) Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2021	Oct. 31, 2020
Income Statement [Abstract]
Net (loss) income	$ (2,345)	$ 8,415
Other comprehensive (loss) income:
Change in unrealized gain on available-for-sale securities	(111)	(29)
Foreign currency translation adjustments	1,068	251
Other comprehensive income	957	222
Comprehensive (loss) income	(1,388)	8,637
Comprehensive income attributable to noncontrolling interests	(133)	(127)
Comprehensive (loss) income attributable to IDT Corporation	$ (1,521)	$ 8,510

Consolidated Statements of Equi

Consolidated Statements of Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock [Member]Class A Common Stock [Member]	Common Stock [Member]Class B Common Stock [Member]	Additional Paid-in Capital [Member]	Treasury Stock [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Noncontrolling Interest [Member]
BALANCE at Jul. 31, 2020	$ 71,139	$ 33	$ 260	$ 277,443	$ (56,221)	$ (7,410)	$ (139,333)	$ (3,633)
Restricted Class B common stock purchased from employees	(7)				(7)
Exercise of stock options	185			185
Repurchases of Class B common stock through repurchase program	(2,849)				(2,849)
Stock-based compensation	506			506
Distributions to noncontrolling interests	(28)							(28)
Other comprehensive income	222					222
Net (loss) income	8,415						8,288	127
BALANCE at Oct. 31, 2020	77,583	33	260	278,134	(59,077)	(7,188)	(131,045)	(3,534)
BALANCE at Jul. 31, 2021	166,614	33	264	278,021	(60,413)	(10,183)	(42,858)	1,750
Restricted Class B common stock purchased from employees	(26)				(26)
Stock-based compensation	285			285
Distributions to noncontrolling interests	(183)							(183)
Other comprehensive income	957					957
Net (loss) income	(2,355)						(2,478)	123
BALANCE at Oct. 31, 2021	$ 165,292	$ 33	$ 264	$ 278,306	$ (60,439)	$ (9,226)	$ (45,336)	$ 1,690

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2021	Oct. 31, 2020
Operating activities
Net (loss) income	$ (2,345)	$ 8,415
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:
Depreciation and amortization	4,446	4,493
Deferred income taxes	(413)	3,104
Provision for doubtful accounts receivable	716	579
Net unrealized loss from marketable securities	13,386	17
Stock-based compensation	285	506
Other	1,718	1,077
Changes in assets and liabilities:
Trade accounts receivable	(5,638)	(4,020)
Disbursement prefunding, prepaid expenses, other current assets, and other assets	(7,563)	7,318
Trade accounts payable, accrued expenses, other current liabilities, and other liabilities	3,265	(2,023)
Customer deposits at IDT Financial Services Limited (Gibraltar-based bank)	(13,069)	(549)
Deferred revenue	(641)	(150)
Net cash (used in) provided by operating activities	(5,853)	18,767
Investing activities
Capital expenditures	(4,353)	(4,564)
Purchase of convertible preferred stock in equity method investment	(1,051)
Purchases of debt securities and equity investments	(6,260)	(29,295)
Proceeds from maturities and sales of debt securities and redemption of equity investments	3,867	6,596
Net cash used in investing activities	(7,797)	(27,263)
Financing activities
Distributions to noncontrolling interests	(183)	(28)
Proceeds from other liabilities	2,302
Repayment of other liabilities	(1,242)	(40)
Proceeds from sale of redeemable equity in subsidiary	10,000
Proceeds from exercise of stock options		185
Repurchases of Class B common stock	(26)	(2,856)
Net cash provided by (used in) financing activities	10,851	(2,739)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash and cash equivalents	(2,257)	(1,859)
Net decrease in cash, cash equivalents, and restricted cash and cash equivalents	(5,056)	(13,094)
Cash, cash equivalents, and restricted cash and cash equivalents at beginning of period	226,916	201,222
Cash, cash equivalents, and restricted cash and cash equivalents at end of period	$ 221,860	$ 188,128

Basis of Presentation

Basis of Presentation	3 Months Ended
	Oct. 31, 2021
Accounting Policies [Abstract]
Basis of Presentation	Note 1— Basis of Presentation The accompanying unaudited consolidated financial statements of IDT Corporation and its subsidiaries (the “Company” or “IDT”) have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and notes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three months ended October 31, 2021 are not necessarily indicative of the results that may be expected for the fiscal year ending July 31, 2022. The balance sheet at July 31, 2021 has been derived from the Company’s audited financial statements at that date but does not include all of the information and notes required by U.S. GAAP for complete financial statements. For further information, please refer to the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended July 31, 2021, as filed with the U.S. Securities and Exchange Commission (the “SEC”). The Company’s fiscal year ends on July 31 of each calendar year. Each reference below to a fiscal year refers to the fiscal year ending in the calendar year indicated (e.g., fiscal 2022 refers to the fiscal year ending July 31, 2022).

Business Segment Information

Business Segment Information	3 Months Ended
	Oct. 31, 2021
Segment Reporting [Abstract]
Business Segment Information	Note 2— Business Segment Information The Company has three 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 Revolution Money Transfer, 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 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, many 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: Schedule of Operating Results of Business Segments (in thousands) Fintech net2phone- Traditional Communications Corporate Total Three Months Ended October 31, 2021 Revenues $ 22,568 $ 12,913 $ 334,602 $ — $ 370,083 (Loss) income from operations (45 ) (4,198 ) 20,125 (2,109 ) 13,773 Three Months Ended October 31, 2020 Revenues $ 20,087 $ 9,702 $ 313,636 $ — $ 343,425 Income (loss) from operations 3,136 (3,880 ) 15,861 (1,864 ) 13,253

Revenue Recognition

Revenue Recognition	3 Months Ended
	Oct. 31, 2021
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Note 3— Revenue Recognition The Company earns revenue from contracts with customers, primarily through the provision of retail telecommunications and payment offerings as well as wholesale international voice and SMS termination. BOSS Revolution Money Transfer, NRS, and net2phone-UCaaS are technology-driven, synergistic businesses that leverage the Company’s core assets, and revenue is primarily recognized at a point in time, and in some cases (mainly net2phone-UCaaS) is recognized over time. Traditional Communications are mostly minute-based, paid-voice communications services, and revenue is primarily recognized at a point in time. The Company’s most significant revenue streams are from Mobile Top-Up, BOSS Revolution Calling, and Carrier Services. Mobile Top-Up and BOSS Revolution Calling are sold direct-to-consumers and through distributors and retailers. Disaggregated Revenues The following table shows the Company’s revenues disaggregated by business segment and service offered to customers: Schedule of Revenues Disaggregated by Business Segment and Service Offered to Customers Three Months Ended October 31, 2021 2020 (in thousands) BOSS Revolution Money Transfer $ 12,496 $ 15,157 National Retail Solutions 10,072 4,930 Total Fintech 22,568 20,087 net2phone-UCaaS 12,913 9,702 Mobile Top-Up 128,485 95,835 BOSS Revolution Calling 105,969 117,350 Carrier Services 89,195 87,773 Other 10,953 12,678 Total Traditional Communications 334,602 313,636 Total $ 370,083 $ 343,425 The following table shows the Company’s revenues disaggregated by geographic region, which is determined based on selling location. On February 1, 2021, the Company changed the geographic sourcing of certain revenues from the United States to the United Kingdom. Schedule of Revenues Disaggregated by Geographic Region (in thousands) Fintech net2phone-UCaaS Traditional Communications Total Three Months Ended October 31, 2021 United States $ 22,568 $ 6,824 $ 238,692 $ 268,084 Outside the United States: United Kingdom — — 81,769 81,769 Other — 6,089 14,141 20,230 Total outside the United States — 6,089 95,910 101,999 Total $ 22,568 $ 12,913 $ 334,602 $ 370,083 (in thousands) Fintech net2phone-UCaaS Traditional Communications Total Three Months Ended October 31, 2020 United States $ 20,087 $ 5,090 $ 270,623 $ 295,800 Outside the United States: United Kingdom — — 29,421 29,421 Other — 4,612 13,592 18,204 Total outside the United States — 4,612 43,013 47,625 Total $ 20,087 $ 9,702 $ 313,636 $ 343,425 Remaining Performance Obligations The Company does not have any significant revenue from performance obligations satisfied or partially satisfied in previous reporting periods. The Company’s remaining performance obligations at October 31, 2021 and July 31, 2021 had an original expected duration of one year or less. Accounts Receivable and Contract Balances The timing of revenue recognition may differ from the time of billing to the Company’s customers. Trade accounts receivable in the Company’s consolidated balance sheets represent unconditional rights to consideration. An entity records a contract asset when revenue is recognized in advance of the entity’s right to bill and receive consideration. The Company has not identified any contract assets. Contract liabilities arise when the Company receives consideration or bills its customers prior to providing the goods or services promised in the contract. The Company’s contract liability balance is primarily payments received for prepaid BOSS Revolution Calling. Contract liabilities are recognized as revenue when services are provided to the customer. The contract liability balances are presented in the Company’s consolidated balance sheets as “Deferred revenue”. The following table presents information about the Company’s contract liability balance: Schedule of Information About Contract Liability Balance 2021 2020 Three Months Ended October 31, 2021 2020 (in thousands) Revenue recognized in the period from amounts included in the contract liability balance at the beginning of the period $ 22,456 $ 23,460 Deferred Customer Contract Acquisition and Fulfillment Costs The Company recognizes as an asset its incremental costs of obtaining a contract with a customer that it expects to recover. The Company charges its direct costs to fulfill contracts to expense as incurred. The Company’s incremental costs of obtaining a contract with a customer are sales commissions paid to acquire customers. The Company applies the practical expedient whereby the Company primarily charges these costs to expense when incurred because the amortization period would be one year or less for the asset that would have been recognized from deferring these costs. For net2phone-UCaaS sales, employees and third parties receive commissions on sales to end users. The Company amortizes the deferred costs over the expected customer relationship period when it is expected to exceed one year. The Company’s deferred customer contract acquisition costs were as follows: Schedule of Deferred Customer Contract Acquisition Costs October 31,2021 July 31, 2021 (in thousands) Deferred customer contract acquisition costs included in “Other current assets” $ 3,787 $ 3,460 Deferred customer contract acquisition costs included in “Other assets” 3,241 3,151 Total $ 7,028 $ 6,611 The Company’s amortization of deferred customer contract acquisition costs during the periods were as follows: Schedule of Amortization of Deferred Customer Contract Acquisition Costs 2021 2020 Three Months Ended October 31, 2021 2020 (in thousands) Amortization of deferred customer contract acquisition costs $ 1,012 $ 767

Leases

Leases	3 Months Ended
	Oct. 31, 2021
Leases
Leases	Note 4— Leases The Company’s leases primarily consist of operating leases for office space. These leases have remaining terms from one to six years . net2phone-UCaaS also has operating leases for office equipment. Certain of these leases contain renewal options that may be exercised and/or options to terminate the lease. The Company has concluded that it is not reasonably certain that it would exercise the options to extend or terminate the leases. net2phone-UCaaS is the lessee in equipment leases that are classified as finance leases. The assets and liabilities related to these finance leases are not material to the Company’s consolidated balance sheets. The Company leases office and parking space from Rafael Holdings, Inc. (“Rafael”) in a building and parking garage located at 520 Broad Street, Newark, New Jersey. The Company also leases office space in Israel from Rafael. Howard S. Jonas, the Chairman of the Company’s Board of Directors, is also the Chairman of the Board of Directors of Rafael. The Newark lease expires in April 2025 and the Israel lease expires in July 2025 0.5 Supplemental disclosures related to the Company’s operating leases were as follows: Schedule of Supplemental Disclosures Related to the Company's Operating Leases 2021 2020 Three Months Ended October 31, 2021 2020 (in thousands) Operating lease cost $ 700 $ 729 Short-term lease cost 347 65 Total lease cost $ 1,047 $ 794 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 695 $ 710 Schedule of Supplemental Disclosures Related Weighted Average Operating Leases October 31, 2021 July 31, 2021 Weighted-average remaining lease term-operating leases 3.4 3.4 Weighted-average discount rate-operating leases 2.9 % 2.9 % On September 13, 2021, the Company entered into a new lease with an aggregate operating lease liability of $ 0.7 million. The Company’s aggregate operating lease liability was as follows: Schedule of Aggregate Operating Lease Liability October 31, 2021 July 31, 2021 (in thousands) Operating lease liabilities included in “Other current liabilities” $ 2,500 $ 2,456 Operating lease liabilities included in noncurrent liabilities 5,533 5,473 Total $ 8,033 $ 7,929 Future minimum maturities of operating lease liabilities were as follows (in thousands): Schedule of Future Minimum Maturities of Operating Lease Liabilities Twelve-month period ending October 31: 2022 $ 2,698 2023 2,406 2024 1,967 2025 1,095 2026 139 Thereafter 154 Total lease payments 8,459 Less imputed interest (426 ) Total operating lease liabilities $ 8,033

Cash, Cash Equivalents, and Res

Cash, Cash Equivalents, and Restricted Cash and Cash Equivalents	3 Months Ended
	Oct. 31, 2021
Cash and Cash Equivalents [Abstract]
Cash, Cash Equivalents, and Restricted Cash and Cash Equivalents	Note 5— Cash, Cash Equivalents, and Restricted Cash and Cash Equivalents The following table provides a reconciliation of cash, cash equivalents, and restricted cash and cash equivalents reported in the consolidated balance sheets that equals the total of the same amounts reported in the consolidated statements of cash flows: Schedule of Cash, Cash Equivalents, and Restricted Cash and Cash Equivalents October 31, 2021 July 31, 2021 (in thousands) Cash and cash equivalents $ 114,543 $ 107,147 Restricted cash and cash equivalents 107,317 119,769 Total cash, cash equivalents, and restricted cash and cash equivalents $ 221,860 $ 226,916 At October 31, 2021 and July 31, 2021, restricted cash and cash equivalents included $ 101.8 million and $ 115.8 million, respectively, in restricted cash and cash equivalents for customer deposits held by IDT Financial Services Limited, the Company’s Gibraltar-based bank. Company Restricted Cash and Cash Equivalents The Company treats unrestricted cash and cash equivalents held by IDT Payment Services, Inc. and IDT Payment Services of New York, LLC, which provide the Company’s international money transfer services in the United States, as substantially restricted and unavailable for other purposes. At October 31, 2021 and July 31, 2021, “Cash and cash equivalents” in the Company’s consolidated balance sheets included an aggregate of $ 16.7 million and $ 15.3 million, respectively, held by IDT Payment Services, Inc. and IDT Payment Services of New York, LLC, that was unavailable for other purposes.

Debt Securities

Debt Securities	3 Months Ended
	Oct. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Debt Securities	Note 6— Debt Securities The following is a summary of available-for-sale debt securities: Schedule of Available-for-sale Securities Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (in thousands) October 31, 2021: Certificates of deposit* $ - $ - $ — $ - U.S. Treasury bills and notes $ 1,663 $ — $ (36 ) $ 1,627 Corporate bonds 6,276 33 (116 ) 6,193 Municipal bonds 5,814 — (1 ) 5,813 Total $ 13,753 $ 33 $ (153 ) $ 13,633 July 31, 2021: Certificates of deposit* $ 1,200 $ 3 $ — $ 1,203 U.S. Treasury bills and notes 1,669 — (17 ) 1,652 Corporate bonds 6,327 38 (33 ) 6,332 Municipal bonds 4,825 — — 4,825 Total $ 14,021 $ 41 $ (50 ) $ 14,012 * Each of the Company’s certificates of deposit has a CUSIP, was purchased in the secondary market through a broker and may be sold in the secondary market. Proceeds from maturities and sales of debt securities and redemptions of equity investments were $ 3.9 million and $ 6.6 million in the three months ended October 31, 2021 and 2020, respectively. There were no realized gains or realized losses from sales of debt securities in the three months ended October 31, 2021 and 2020. The Company uses the specific identification method in computing the realized gains and realized losses on the sales of debt securities. The contractual maturities of the Company’s available-for-sale debt securities at October 31, 2021 were as follows: Schedule of Contractual Maturities of Available-for-sale Debt Securities Fair Value (in thousands) Within one year $ 1,258 After one year through five years 6,326 After five years through ten years 5,249 After ten years 800 Total $ 13,633 The following available-for-sale debt securities were in an unrealized loss position for which other-than-temporary impairments were not recognized: Schedule of Available-for-sale Securities, Unrealized Loss Position Unrealized Losses Fair Value (in thousands) October 31, 2021: U.S. Treasury bills and notes $ 36 $ 1,627 Corporate bonds 116 5,572 Municipal bonds 1 4,569 Total $ 153 $ 11,768 July 31, 2021: U.S. Treasury bills and notes $ 17 $ 1,652 Corporate bonds 33 3,293 Total $ 50 $ 4,945 At July 31, 2021, there were no securities in a continuous unrealized loss position for 12 months or longer. At October 31, 2021, the following available-for-sale debt securities included in the table above were in a continuous unrealized loss position for 12 months or longer: Schedule of Continuous Unrealized Loss Position for 12 Months or Longer Unrealized Losses Fair Value (in thousands) U.S. Treasury bills and notes $ 36 $ 1,627 Corporate bonds 44 1,219 Total $ 80 $ 2,846 At October 31, 2021, the Company did not intend to sell any of the debt securities included in the table above, and it is not more likely than not that the Company will be required to sell any of these securities before recovery of the unrealized losses, which may be at maturity.

Equity Investments

Equity Investments	3 Months Ended
	Oct. 31, 2021
Cash and Cash Equivalents [Abstract]
Equity Investments	Note 7— Equity Investments Equity investments consist of the following: Schedule of Equity Investments October 31, 2021 July 31, 2021 (in thousands) Zedge, Inc. Class B common stock, 42,282 $ 488 $ 649 Rafael Holdings, Inc. Class B common stock, 290,214 246,565 2,194 12,479 Rafael Holdings, Inc. restricted Class B common stock, nil 43,649 — 2,209 Other marketable equity securities 5,186 3,630 Fixed income mutual funds 23,276 23,467 Current equity investments $ 31,144 $ 42,434 Visa Inc. Series C Convertible Participating Preferred Stock (“Visa Series C Preferred”) $ 2,119 $ 2,465 Series B and Series C convertible preferred stock—equity method investment 3,329 2,901 Hedge funds 2,814 3,563 Other 1,225 2,725 Noncurrent equity investments $ 9,487 $ 11,654 The Company received the shares of Zedge, Inc. (“Zedge”) Class B common stock and 28,320 of the shares of Rafael Class B common stock set forth in the table above in connection with the lapsing of restrictions on Zedge and Rafael restricted stock held by certain of the Company’s employees and the Company’s payment of taxes related thereto. The Company purchased 261,894 shares of Rafael Class B common stock in fiscal 2021. Howard S. Jonas is the Vice-Chairman of the Board of Directors of Zedge. The changes in the carrying value of the Company’s equity investments without readily determinable fair values for which the Company elected the measurement alternative was as follows: Schedule of Carrying Value of Equity Investments 2021 2020 Three Months Ended October 31, 2021 2020 (in thousands) Balance, beginning of period $ 2,743 $ 4,109 Redemption for Visa mandatory release assessment — (1,870 ) Adjustment for observable transactions involving a similar investment from the same issuer (346 ) (130 ) Impairments — — Balance, end of the period $ 2,397 $ 2,109 The Company decreased the carrying value of the shares of Visa Series C Preferred it held by $ 0.3 million and $ 0.1 million in the three months ended October 31, 2021 and 2020, respectively, based on the fair value of Visa Class A common stock and a discount for lack of current marketability. Unrealized gains and losses for all equity investments included the following: Schedule of Unrealized (losses) Gains for All Equity Investments 2021 2020 Three Months Ended October 31, 2021 2020 (in thousands) Net losses recognized during the period on equity investments $ (14,494 ) $ (920 ) Less: net gains and losses recognized during the period on equity investments sold during the period — — Unrealized losses recognized during the period on equity investments still held at the reporting date $ (14,494 ) $ (920 ) The net losses on investments in the three months ended October 31, 2021 was primarily from unrealized losses of $ 12.5 Equity Method Investment On February 2, 2021, the Company paid $ 4.0 1.1 23.95 26.57 The Company accounts for this investment using the equity method since the series B and series C convertible preferred stock are in-substance common stock, and the Company can exercise significant influence over the operating and financial policies of the EMI. The Company determined that on the dates of the acquisitions, there were differences of $ 3.4 million and $ 1.0 million between its investment in the EMI and its proportional interest in the equity of the EMI, which represented the Company’s share of the EMI’s customer list on the dates of the acquisitions. These basis differences are being amortized over the 6-year estimated life of the customer list. In the accompanying consolidated statements of operations, amortization of equity method basis difference is included in the equity in the net loss of investee, which is recorded in “Other expense, net” (see Note 18). The following table summarizes the change in the balance of the Company’s equity method investment: Summary of Changes in Equity Method Investments Three Months Ended October 31, 2021 2020 (in thousands) Balance, beginning of period $ 2,901 $ — Purchase of convertible preferred stock 1,051 — Equity in the net loss of investee (441 ) — Amortization of equity method basis difference (182 ) — Balance, end of period $ 3,329 $ — Summarized financial information of the EMI was as follows: Summary of Statements of Operations Three Months Ended October 31, 2021 2020 (in thousands) Revenues $ 1,691 $ — Costs and expenses: Direct cost of revenues 1,462 — Selling, general and administrative 1,889 — Depreciation and amortization - - Severance - - Total costs and expenses 3,351 — Loss from operations (1,660 ) — Other expense (1 ) — Net loss $ (1,661 ) $ —

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Oct. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 8— Fair Value Measurements The following table presents the balance of assets and liabilities measured at fair value on a recurring basis: Schedule of Balance of Assets Measured at Fair Value On a Recurring Basis Level 1 (1) Level 2 (2) Level 3 (3) Total (in thousands) October 31, 2021 Debt securities $ 1,627 $ 12,006 $ — $ 13,633 Equity investments included in current assets 31,144 — — 31,144 Equity investments included in noncurrent assets — — 2,119 2,119 Total $ 32,771 $ 12,006 $ 2,119 $ 46,896 Contingent consideration included in: Other current liabilities $ — $ — $ (628 ) $ (628 ) Other noncurrent liabilities — — (387 ) (387 ) Total $ — $ — $ (1,015 ) $ (1,015 ) July 31, 2021 Debt securities $ 1,652 $ 12,360 $ — $ 14,012 Equity investments included in current assets 40,225 2,209 — 42,434 Equity investments included in noncurrent assets — — 2,465 2,465 Total $ 41,877 $ 14,569 $ 2,465 $ 58,911 Contingent consideration included in: Other current liabilities $ — $ — $ (628 ) $ (628 ) Other noncurrent liabilities — — (397 ) (397 ) Total $ — $ — $ (1,025 ) $ (1,025 ) (1) quoted prices in active markets for identical assets or liabilities (2) observable inputs other than quoted prices in active markets for identical assets and liabilities (3) no observable pricing inputs in the market At October 31, 2021 and July 31, 2021, the Company had $ 2.8 million and $ 3.6 million, respectively, in investments in hedge funds, which were included in noncurrent “Equity investments” in the accompanying consolidated balance sheets. The Company’s investments in hedge funds were accounted for using the equity method, therefore they were not measured at fair value. The following table summarizes the change in the balance of the Company’s assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3): Schedule of Assets Measured at Fair Value On a Recurring Basis Using Significant Unobservable Inputs (Level 3) Three Months Ended October 31, 2021 2020 (in thousands) Balance, beginning of period $ 2,465 $ 3,825 Redemption for Visa mandatory release assessment — (1,870 ) Total losses included in “Other expense, net” (346 ) (130 ) Balance, end of period $ 2,119 $ 1,825 Change in unrealized gains or losses for the period included in earnings for assets held at the end of the period $ — $ — The following table summarizes the change in the balance of the Company’s liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3): Schedule of Liabilities Measured at Fair Value On a Recurring Basis Using Significant Unobservable Inputs (Level 3) Three Months Ended October 31, 2021 2020 (in thousands) Balance, beginning of period $ 1,025 $ 396 Total gains included in “Foreign currency translation adjustment” (10 ) (5 ) Balance, end of period $ 1,015 $ 391 Change in unrealized gains or losses for the period included in earnings for liabilities held at the end of the period $ — $ — Fair Value of Other Financial Instruments The estimated fair value of the Company’s other financial instruments was determined using available market information or other appropriate valuation methodologies. However, considerable judgment is required in interpreting these data to develop estimates of fair value. Consequently, the estimates are not necessarily indicative of the amounts that could be realized or would be paid in a current market exchange. Cash and cash equivalents, restricted cash and cash equivalents, other current assets, customer deposits, and other current liabilities. Other assets and other liabilities.

Acquisition

Acquisition	3 Months Ended
	Oct. 31, 2021
Business Combination and Asset Acquisition [Abstract]
Acquisition	Note 9— Acquisition On December 3, 2020, the Company’s subsidiary IDT International Telecom, Inc. (“IDTIT”) acquired 51 % of the issued shares of a company that provides a digital platform facilitating supply and distribution of mobile airtime and data top-ups and other services across borders. The purchase price was $ 2.4 million, net of cash acquired. The Company also recorded $ 0.4 million for the estimated fair value of contingent consideration of $ 0.5 5 % of the issued shares of the acquired company that the seller did not initially sell to IDTIT (“Option Shares”), the seller exercised its option and on March 22, 2021, IDTIT purchased the Option Shares for $ 0.3 million. On June 15, 2021, IDTIT purchased 19 % of the issued shares of the acquired company from the remaining noncontrolling interest holder for $ 1.0 million. The Company also recorded $ 0.2 million for the estimated fair value of contingent consideration of up to $ 0.3 The Company’s pro forma results of operations as if the acquisitions occurred on August 1, 2020 were not materially different from the actual results of operations.

Variable Interest Entity

Variable Interest Entity	3 Months Ended
	Oct. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Variable Interest Entity	Note 10— Variable Interest Entity As of May 31, 2021, the Company entered into a Warrant Purchase Agreement with the shareholders of an entity (the variable interest entity, or “VIE”) that operates money transfer businesses. The Company determined that, effective May 31, 2021, it had the power to direct the activities of the VIE that most significantly impact its economic performance, and the Company has the obligation to absorb losses of and the right to receive benefits from the VIE that could potentially be significant to it. The Company therefore determined that it is the primary beneficiary of the VIE, and as a result, the Company consolidates the VIE. The Company does not currently own any interest in the VIE and thus the net income incurred by the VIE was attributed to noncontrolling interests in the accompanying consolidated statements of operations. The VIE’s net income and aggregate funding repaid to the Company by the VIE were as follows: Schedule of Net Income (loss) and Aggregate Funding Repaid to the Company By VIE Three Months Ended October 31, 2021 2020 (in thousands) Net income of the VIE $ 144 $ — Aggregate funding repaid to the Company by the VIE, net $ (3 ) $ — The VIE’s summarized consolidated balance sheet amounts are as follows: VIE’s Summarized Consolidated Balance Sheet October 31, 2021 July 31, 2021 (in thousands) Assets: Cash and equivalents $ 1,419 $ 1,364 Restricted cash 5,384 3,848 Trade accounts receivable, net 31 91 Prepaid expenses 210 344 Other current assets 863 858 Total current assets - - Goodwill - - Property, plant, and equipment, net 652 637 Equity investments - - Operating lease right-of-use assets - - Deferred income tax assets, net - - Other assets - - Other intangibles, net 1,042 1,042 Total assets $ 9,601 $ 8,184 Liabilities and noncontrolling interests: Trade accounts payable $ 5 $ 312 Accrued expenses 41 26 Other current liabilities 6,058 4,491 Due to the Company 5 8 Accumulated other comprehensive loss (6 ) (7 ) Noncontrolling interests 3,498 3,354 Total liabilities and noncontrolling interests $ 9,601 $ 8,184 The VIE’s assets may only be used to settle the VIE’s obligations and may not be used for other consolidated entities. The VIE’s liabilities are non-recourse to the general credit of the Company’s other consolidated entities.

Other Operating Expense, Net

Other Operating Expense, Net	3 Months Ended
	Oct. 31, 2021
Other Income and Expenses [Abstract]
Other Operating Expense, Net	Note 11— Other Operating Expense, Net The following table summarizes the other operating expense, net by business segment: Schedule of Other Operating Expense, Net Three Months Ended October 31, 2021 2020 (in thousands) Corporate—Straight Path Communications Inc. class action legal fees $ (978 ) $ (321 ) Corporate—Straight Path Communications Inc. class action insurance claims 915 623 Traditional Communications—net2phone indemnification claim (25 ) — Traditional Communications—Carrier Services settlement — (554 ) Total other operating expense, net $ (88 ) $ (252 ) Straight Path Communications Inc. Class Action As discussed in Note 17, the Company (as well as other defendants) has been named in a pending putative class action on behalf of the stockholders of the Company’s former subsidiary, Straight Path Communications Inc. (“Straight Path”), and a derivative complaint. The Company incurred legal fees and recorded offsetting gains from insurance claims related to this action in the three months ended October 31, 2021 and 2020. Indemnification Claim Beginning in June 2019, as part of a commercial resolution, the Company indemnified a net2phone cable telephony customer related to patent infringement claims brought against the customer.

Revolving Credit Facility

Revolving Credit Facility	3 Months Ended
	Oct. 31, 2021
Debt Disclosure [Abstract]
Revolving Credit Facility	Note 12— Revolving Credit Facility The Company’s subsidiary, IDT Telecom, Inc. (“IDT Telecom”), entered into a credit agreement, dated as of May 17, 2021, with TD Bank, N.A. for a revolving credit facility for up to a maximum principal amount of $ 25.0 The revolving credit facility is secured by primarily all of IDT Telecom’s assets. The principal outstanding bears interest per annum at the Intercontinental Exchange Benchmark Administration Ltd. LIBOR multiplied by the Regulation D maximum reserve requirement plus 125 to 175 basis points, depending upon IDT Telecom’s leverage ratio as computed for the most recent fiscal quarter. Interest is payable monthly, and all outstanding principal and any accrued and unpaid interest is due in May 2024. IDT Telecom pays a quarterly unused commitment fee on the average daily balance of the unused portion of the $ 25.0

Equity

Equity	3 Months Ended
	Oct. 31, 2021
Equity:
Equity	Note 13— Equity Stock Repurchases The Company has an existing stock repurchase program authorized by its Board of Directors for the repurchase of shares of the Company’s Class B common stock. The Board of Directors authorized the repurchase of up to 8.0 no 463,792 2.8 5.8 In the three months ended October 31, 2021 and 2020, the Company paid $ 26,000 and $ 7,000 , respectively, to repurchase 627 and 1,053 shares, respectively, of the Company’s Class B common stock that were tendered by employees of the Company to satisfy the employees’ tax withholding obligations in connection with the vesting of deferred stock units (“DSUs”) and lapsing of restrictions on restricted stock. Such shares were repurchased by the Company based on their fair market value on the trading day immediately prior to the vesting date. Deferred Stock Units Equity Incentive Program The Company has an existing equity incentive program in the form of DSUs that, upon vesting, will entitle the grantees to receive shares of the Company’s Class B common stock. The number of shares issuable on the vesting date varies between 50% to 200% of the number of DSUs that vest on that vesting date, depending on the market price for the underlying Class B common stock on the vesting date relative to the market price at the time of the grant . At October 31, 2021, there were 154,169 unvested DSUs outstanding that are eligible to vest (if the conditions therefor are satisfied) on January 5, 2022. 2015 Stock Option and Incentive Plan In the three months ended October 31, 2020, the Company received proceeds from the exercise of stock options of $ 0.2 21,894 no On September 14, 2021, the Company’s Board of Directors amended the Company’s 2015 Stock Option and Incentive Plan to increase the number of shares of the Company’s Class B common stock available for the grant of awards thereunder by an additional 175,000

Redeemable Noncontrolling Inter

Redeemable Noncontrolling Interest	3 Months Ended
	Oct. 31, 2021
Noncontrolling Interest [Abstract]
Redeemable Noncontrolling Interest	Note 14— Redeemable Noncontrolling Interest On September 29, 2021, NRS sold 862,442 shares of its Class B common stock, which represents 2.5% of its outstanding capital stock on a fully diluted basis, to Alta Fox Opportunities Fund LP (“Alta Fox”) for cash of $ 10 million. Alta Fox has the right to request that NRS redeem all or any portion of the NRS common shares that it purchased at the per share purchase price during a period of 182 days following the fifth anniversary of this transaction. The redemption right shall terminate upon the consummation of (i) a sale of NRS or its assets for cash or securities that are listed on a national securities exchange, (ii) a public offering of NRS’ securities, or (iii) a distribution of NRS’ capital stock following which NRS’ common shares are listed on a national securities exchange. The shares of NRS’ Class B common stock sold to Alta Fox have been classified as mezzanine equity in the accompanying consolidated balance sheet because they may be redeemed at the option of Alta Fox, although the shares are not mandatorily redeemable. The carrying amount of the shares includes the noncontrolling interest in the net income of NRS.

(Loss) Earnings Per Share

(Loss) Earnings Per Share	3 Months Ended
	Oct. 31, 2021
Earnings Per Share [Abstract]
(Loss) Earnings Per Share	Note 15— (Loss) Earnings Per Share Basic earnings per share is computed by dividing net income attributable to all classes of common stockholders of the Company by the weighted average number of shares of all classes of common stock outstanding during the applicable period. Diluted earnings per share is computed in the same manner as basic earnings per share, except that the number of shares is increased to include restricted stock still subject to risk of forfeiture and to assume exercise of potentially dilutive stock options using the treasury stock method, unless the effect of such increase is anti-dilutive. The weighted-average number of shares used in the calculation of basic and diluted (loss) earnings per share attributable to the Company’s common stockholders consists of the following: Schedule of Weighted-average Number of Shares Used in the Calculation of Basic and Diluted (Loss) Earnings Per Share Three Months Ended October 31, 2021 2020 (in thousands) Basic weighted-average number of shares 25,566 25,534 Effect of dilutive securities: Stock options — — Non-vested restricted Class B common stock — 327 Diluted weighted-average number of shares 25,566 25,861 The following shares were excluded from the calculation of diluted (loss) earnings per share: Schedule of Outstanding Stock Options Excluded from the Calculation of Diluted (Loss) Earnings Per Share Three Months Ended October 31, 2021 2020 (in thousands) Stock options 1,035 1,104 Non-vested restricted Class B common stock 352 — Shares excluded from the calculation of diluted earnings per share 1,387 1,104 The diluted loss per share equals basic loss per share in the three months ended October 31, 2021 because the Company had a net loss and the impact of the assumed exercise of stock options and the vesting of restricted stock would have been anti-dilutive. Stock options with an exercise price that was greater than the average market price of the Company’s common stock in the three months ended October 31, 2020 were excluded from the calculation of diluted earnings per share.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	3 Months Ended
	Oct. 31, 2021
Equity:
Accumulated Other Comprehensive Loss	Note 16— Accumulated Other Comprehensive Loss The accumulated balances for each classification of other comprehensive (loss) income were as follows: Schedule of Accumulated Balances for Each Classification of Other Comprehensive (Loss) Income Unrealized Foreign Currency Translation Accumulated Other Comprehensive Loss (in thousands) Balance, July 31, 2021 $ (9 ) $ (10,174 ) $ (10,183 ) Other comprehensive (loss) income attributable to IDT Corporation (111 ) 1,068 957 Balance, October 31, 2021 $ (120 ) $ (9,106 ) $ (9,226 )

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Oct. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 17— Commitments and Contingencies Coronavirus Disease (COVID-19) The Company continues to monitor and respond to the impacts of the COVID-19 pandemic on all aspects of its business, including its customers, employees, suppliers, vendors, and business partners. Operationally, the Company’s employees transitioned to work-from-home during the third quarter of fiscal 2020 and, to a large degree, continue to work-from-home. Beginning in the fourth quarter of fiscal 2021, certain of the Company’s employees returned to work in the Company’s offices on a part-time basis. The Company’s salespeople, customer service employees, technicians, and delivery employees continue to serve its independent retailers, channel partners, and customers with minimal interruption. COVID-19 had mixed financial impacts on the Company beginning in the third quarter of fiscal 2020 and continuing through the first quarter of fiscal 2022. Legal Proceedings On January 22, 2019, Jose Rosales filed a putative class action against IDT America, IDT Domestic Telecom and IDT International in California state court alleging certain violations of employment law. Plaintiff alleges that these companies failed to compensate members of the putative class in accordance with California law. In August 2019, the Company filed a cross complaint against Rosales alleging trade secret and other violations. The parties are now seeking court approval of a settlement agreement. On April 24, 2018, Sprint Communications Company L.P. filed a patent infringement claim against the Company and certain of its affiliates in the U.S. District Court for the District of Delaware alleging infringement of U.S. Patent Nos. 6,298,064; 6,330,224; 6,343,084; 6,452,932; 6,463,052; 6,473,429; 6,563,918; 6,633,561; 6,697,340; 6,999,463; 7,286,561; 7,324,534; 7,327,728; 7,505,454; and 7,693,131. Plaintiff was seeking damages and injunctive relief. On June 28, 2018, Sprint dismissed the complaint without prejudice. The Company is evaluating the underlying claim, and at this stage, is unable to estimate its potential liability, if any. The Company intends to vigorously defend any claim of infringement of the listed patents. On July 5, 2017, plaintiff JDS1, LLC, on behalf of itself and all other similarly situated stockholders of Straight Path, and derivatively on behalf of Straight Path as nominal defendant, filed a putative class action and derivative complaint in the Court of Chancery of the State of Delaware against the Company, The Patrick Henry Trust (a trust formed by Howard S. Jonas that held record and beneficial ownership of certain shares of Straight Path he formerly held), Howard S. Jonas, and each of Straight Path’s directors. The complaint alleges that the Company aided and abetted Straight Path Chairman of the Board and Chief Executive Officer Davidi Jonas, and Howard S. Jonas in his capacity as controlling stockholder of Straight Path, in breaching their fiduciary duties to Straight Path in connection with the settlement of claims between Straight Path and the Company related to potential indemnification claims concerning Straight Path’s obligations under the Consent Decree it entered into with the Federal Communications Commission (“FCC”), as well as the sale of Straight Path’s subsidiary Straight Path IP Group, Inc. to the Company in connection with that settlement. That action was consolidated with a similar action that was initiated by The Arbitrage Fund. The Plaintiffs are seeking, among other things, (i) a declaration that the action may be maintained as a class action or in the alternative, that demand on the Straight Path Board is excused; (ii) that the term sheet is invalid; (iii) awarding damages for the unfair price stockholders received in the merger between Straight Path and Verizon Communications Inc. for their shares of Straight Path’s Class B common stock; and (iv) ordering Howard S. Jonas, Davidi Jonas, and the Company to disgorge any profits for the benefit of the class Plaintiffs. On August 28, 2017, the Plaintiffs filed an amended complaint. On September 24, 2017, the Company filed a motion to dismiss the amended complaint, which was ultimately denied, and which denial was affirmed by the Delaware Supreme Court. The parties are engaged in discovery and motion practice. The trial is currently scheduled for May 2022. The Company intends to vigorously defend this matter (see Note 11). At this stage, the Company is unable to estimate its potential liability, if any. In addition to the foregoing, the Company is subject to other legal proceedings that have arisen in the ordinary course of business and have not been finally adjudicated. Although there can be no assurance in this regard, the Company believes that none of the other legal proceedings to which the Company is a party will have a material adverse effect on the Company’s results of operations, cash flows or financial condition. Sales Tax Contingency On June 21, 2018, the United States Supreme Court rendered a decision in South Dakota v. Wayfair, Inc., holding that a state may require a remote seller with no physical presence in the state to collect and remit sales tax on goods and services provided to purchasers in the state, overturning certain existing court precedent. The Company has evaluated its state tax filings with respect to the Wayfair decision and is in the process of reviewing its remittance practices. It is possible that one or more jurisdictions may assert that the Company has liability for periods for which it has not collected sales, use or other similar taxes, and if such an assertion or assertions were successful it could materially and adversely affect the Company’s business, financial position, and operating results. One or more jurisdictions may change their laws or policies to apply their sales, use or other similar taxes to the Company’s operations, and if such changes were made it could materially and adversely affect the Company’s business, financial position, and operating results. Regulatory Fees Audit The Company’s 2017 FCC Form 499-A, which reports its calendar year 2016 revenue, is currently under audit by the Universal Service Administrative Company (“USAC”). The Internal Audit Division of USAC issued preliminary audit findings and the Company has, in accordance with audit procedures, appealed certain of the findings. The Company awaits a final decision by USAC on the preliminary audit findings. Depending on the findings contained in the final decision, the Company may further appeal to the FCC. Although a final decision remains pending, the Company has been invoiced $ 2.9 million and $ 1.8 million on behalf of the Federal Telecommunications Relay Services Fund and on behalf of the Universal Service Fund, respectively. The Company does not intend to remit payment for these fees unless and until a negative decision on its appeal has been issued. In response to the aforementioned preliminary audit findings, the Company made certain changes to its filing policies and procedures for years that remain potentially under audit. At October 31, 2021 and July 31, 2021, the Company’s accrued expenses included $ 38.2 million and $ 38.3 million, respectively, for FCC-related regulatory fees for the year covered by the audit, as well as prior and subsequent years. Purchase Commitments At October 31, 2021, the Company had purchase commitments of $ 4.0 million primarily for equipment and services. Performance Bonds The Company has performance bonds issued through third parties for the benefit of various states in order to comply with the states’ financial requirements for money remittance licenses and telecommunications resellers. At October 31, 2021, the Company had aggregate performance bonds of $ 19.6 million outstanding. FCC Investigation of Straight Path Spectrum LLC On September 20, 2016, the Company received a letter of inquiry from the Enforcement Bureau of the FCC requesting certain information and materials related to an investigation of potential violations by Straight Path Spectrum LLC (formerly a subsidiary of the Company and Straight Path) in connection with licenses to operate on the 28 GHz and 39 GHz bands of the Fixed Microwave Services. The Company has cooperated with the FCC in this matter and has responded to the letter of inquiry. If the FCC were to pursue separate action against the Company, the FCC could seek to fine or impose regulatory penalties or civil liability on the Company related to activities during the period of ownership by the Company.

Other Expense, Net

Other Expense, Net	3 Months Ended
	Oct. 31, 2021
Other Income and Expenses [Abstract]
Other Expense, Net	Note 18— Other Expense, Net Other expense, net consists of the following: Schedule of Other Expense Net Three Months Ended 2021 2020 (in thousands) Foreign currency transaction losses $ (250 ) $ (428 ) Equity in net loss of investee (623 ) — Losses on investments (see Note 7) (14,494 ) (920 ) Other (849 ) (32 ) Total other expense, net $ (16,216 ) $ (1,380 )

Recently Issued Accounting Stan

Recently Issued Accounting Standard Not Yet Adopted	3 Months Ended
	Oct. 31, 2021
Accounting Changes and Error Corrections [Abstract]
Recently Issued Accounting Standard Not Yet Adopted	Note 19— Recently Issued Accounting Standard Not Yet Adopted In June 2016, the Financial Accounting Standards Board issued Accounting Standards Update No. 2016-13, Financial Instruments—Credit Losses (Topic 326) Measurement of Credit Losses on Financial Instruments,

Business Segment Information (T

Business Segment Information (Tables)	3 Months Ended
	Oct. 31, 2021
Segment Reporting [Abstract]
Schedule of Operating Results of Business Segments	Operating results for the business segments of the Company were as follows: Schedule of Operating Results of Business Segments (in thousands) Fintech net2phone- Traditional Communications Corporate Total Three Months Ended October 31, 2021 Revenues $ 22,568 $ 12,913 $ 334,602 $ — $ 370,083 (Loss) income from operations (45 ) (4,198 ) 20,125 (2,109 ) 13,773 Three Months Ended October 31, 2020 Revenues $ 20,087 $ 9,702 $ 313,636 $ — $ 343,425 Income (loss) from operations 3,136 (3,880 ) 15,861 (1,864 ) 13,253

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Oct. 31, 2021
Revenue from Contract with Customer [Abstract]
Schedule of Revenues Disaggregated by Business Segment and Service Offered to Customers	The following table shows the Company’s revenues disaggregated by business segment and service offered to customers: Schedule of Revenues Disaggregated by Business Segment and Service Offered to Customers Three Months Ended October 31, 2021 2020 (in thousands) BOSS Revolution Money Transfer $ 12,496 $ 15,157 National Retail Solutions 10,072 4,930 Total Fintech 22,568 20,087 net2phone-UCaaS 12,913 9,702 Mobile Top-Up 128,485 95,835 BOSS Revolution Calling 105,969 117,350 Carrier Services 89,195 87,773 Other 10,953 12,678 Total Traditional Communications 334,602 313,636 Total $ 370,083 $ 343,425
Schedule of Revenues Disaggregated by Geographic Region	Schedule of Revenues Disaggregated by Geographic Region (in thousands) Fintech net2phone-UCaaS Traditional Communications Total Three Months Ended October 31, 2021 United States $ 22,568 $ 6,824 $ 238,692 $ 268,084 Outside the United States: United Kingdom — — 81,769 81,769 Other — 6,089 14,141 20,230 Total outside the United States — 6,089 95,910 101,999 Total $ 22,568 $ 12,913 $ 334,602 $ 370,083 (in thousands) Fintech net2phone-UCaaS Traditional Communications Total Three Months Ended October 31, 2020 United States $ 20,087 $ 5,090 $ 270,623 $ 295,800 Outside the United States: United Kingdom — — 29,421 29,421 Other — 4,612 13,592 18,204 Total outside the United States — 4,612 43,013 47,625 Total $ 20,087 $ 9,702 $ 313,636 $ 343,425
Schedule of Information About Contract Liability Balance	The following table presents information about the Company’s contract liability balance: Schedule of Information About Contract Liability Balance 2021 2020 Three Months Ended October 31, 2021 2020 (in thousands) Revenue recognized in the period from amounts included in the contract liability balance at the beginning of the period $ 22,456 $ 23,460
Schedule of Deferred Customer Contract Acquisition Costs	The Company’s deferred customer contract acquisition costs were as follows: Schedule of Deferred Customer Contract Acquisition Costs October 31,2021 July 31, 2021 (in thousands) Deferred customer contract acquisition costs included in “Other current assets” $ 3,787 $ 3,460 Deferred customer contract acquisition costs included in “Other assets” 3,241 3,151 Total $ 7,028 $ 6,611
Schedule of Amortization of Deferred Customer Contract Acquisition Costs	The Company’s amortization of deferred customer contract acquisition costs during the periods were as follows: Schedule of Amortization of Deferred Customer Contract Acquisition Costs 2021 2020 Three Months Ended October 31, 2021 2020 (in thousands) Amortization of deferred customer contract acquisition costs $ 1,012 $ 767

Leases (Tables)

Leases (Tables)	3 Months Ended
	Oct. 31, 2021
Leases
Schedule of Supplemental Disclosures Related to the Company's Operating Leases	Supplemental disclosures related to the Company’s operating leases were as follows: Schedule of Supplemental Disclosures Related to the Company's Operating Leases 2021 2020 Three Months Ended October 31, 2021 2020 (in thousands) Operating lease cost $ 700 $ 729 Short-term lease cost 347 65 Total lease cost $ 1,047 $ 794 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 695 $ 710
Schedule of Supplemental Disclosures Related Weighted Average Operating Leases	Schedule of Supplemental Disclosures Related Weighted Average Operating Leases October 31, 2021 July 31, 2021 Weighted-average remaining lease term-operating leases 3.4 3.4 Weighted-average discount rate-operating leases 2.9 % 2.9 %
Schedule of Aggregate Operating Lease Liability	Schedule of Aggregate Operating Lease Liability October 31, 2021 July 31, 2021 (in thousands) Operating lease liabilities included in “Other current liabilities” $ 2,500 $ 2,456 Operating lease liabilities included in noncurrent liabilities 5,533 5,473 Total $ 8,033 $ 7,929
Schedule of Future Minimum Maturities of Operating Lease Liabilities	Future minimum maturities of operating lease liabilities were as follows (in thousands): Schedule of Future Minimum Maturities of Operating Lease Liabilities Twelve-month period ending October 31: 2022 $ 2,698 2023 2,406 2024 1,967 2025 1,095 2026 139 Thereafter 154 Total lease payments 8,459 Less imputed interest (426 ) Total operating lease liabilities $ 8,033

Cash, Cash Equivalents, and R_2

Cash, Cash Equivalents, and Restricted Cash and Cash Equivalents (Tables)	3 Months Ended
	Oct. 31, 2021
Cash and Cash Equivalents [Abstract]
Schedule of Cash, Cash Equivalents, and Restricted Cash and Cash Equivalents	The following table provides a reconciliation of cash, cash equivalents, and restricted cash and cash equivalents reported in the consolidated balance sheets that equals the total of the same amounts reported in the consolidated statements of cash flows: Schedule of Cash, Cash Equivalents, and Restricted Cash and Cash Equivalents October 31, 2021 July 31, 2021 (in thousands) Cash and cash equivalents $ 114,543 $ 107,147 Restricted cash and cash equivalents 107,317 119,769 Total cash, cash equivalents, and restricted cash and cash equivalents $ 221,860 $ 226,916

Debt Securities (Tables)

Debt Securities (Tables)	3 Months Ended
	Oct. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Schedule of Available-for-sale Securities	The following is a summary of available-for-sale debt securities: Schedule of Available-for-sale Securities Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (in thousands) October 31, 2021: Certificates of deposit* $ - $ - $ — $ - U.S. Treasury bills and notes $ 1,663 $ — $ (36 ) $ 1,627 Corporate bonds 6,276 33 (116 ) 6,193 Municipal bonds 5,814 — (1 ) 5,813 Total $ 13,753 $ 33 $ (153 ) $ 13,633 July 31, 2021: Certificates of deposit* $ 1,200 $ 3 $ — $ 1,203 U.S. Treasury bills and notes 1,669 — (17 ) 1,652 Corporate bonds 6,327 38 (33 ) 6,332 Municipal bonds 4,825 — — 4,825 Total $ 14,021 $ 41 $ (50 ) $ 14,012 * Each of the Company’s certificates of deposit has a CUSIP, was purchased in the secondary market through a broker and may be sold in the secondary market.
Schedule of Contractual Maturities of Available-for-sale Debt Securities	The contractual maturities of the Company’s available-for-sale debt securities at October 31, 2021 were as follows: Schedule of Contractual Maturities of Available-for-sale Debt Securities Fair Value (in thousands) Within one year $ 1,258 After one year through five years 6,326 After five years through ten years 5,249 After ten years 800 Total $ 13,633
Schedule of Available-for-sale Securities, Unrealized Loss Position	The following available-for-sale debt securities were in an unrealized loss position for which other-than-temporary impairments were not recognized: Schedule of Available-for-sale Securities, Unrealized Loss Position Unrealized Losses Fair Value (in thousands) October 31, 2021: U.S. Treasury bills and notes $ 36 $ 1,627 Corporate bonds 116 5,572 Municipal bonds 1 4,569 Total $ 153 $ 11,768 July 31, 2021: U.S. Treasury bills and notes $ 17 $ 1,652 Corporate bonds 33 3,293 Total $ 50 $ 4,945
Schedule of Continuous Unrealized Loss Position for 12 Months or Longer	At July 31, 2021, there were no securities in a continuous unrealized loss position for 12 months or longer. At October 31, 2021, the following available-for-sale debt securities included in the table above were in a continuous unrealized loss position for 12 months or longer: Schedule of Continuous Unrealized Loss Position for 12 Months or Longer Unrealized Losses Fair Value (in thousands) U.S. Treasury bills and notes $ 36 $ 1,627 Corporate bonds 44 1,219 Total $ 80 $ 2,846

Equity Investments (Tables)

Equity Investments (Tables)	3 Months Ended
	Oct. 31, 2021
Cash and Cash Equivalents [Abstract]
Schedule of Equity Investments	Equity investments consist of the following: Schedule of Equity Investments October 31, 2021 July 31, 2021 (in thousands) Zedge, Inc. Class B common stock, 42,282 $ 488 $ 649 Rafael Holdings, Inc. Class B common stock, 290,214 246,565 2,194 12,479 Rafael Holdings, Inc. restricted Class B common stock, nil 43,649 — 2,209 Other marketable equity securities 5,186 3,630 Fixed income mutual funds 23,276 23,467 Current equity investments $ 31,144 $ 42,434 Visa Inc. Series C Convertible Participating Preferred Stock (“Visa Series C Preferred”) $ 2,119 $ 2,465 Series B and Series C convertible preferred stock—equity method investment 3,329 2,901 Hedge funds 2,814 3,563 Other 1,225 2,725 Noncurrent equity investments $ 9,487 $ 11,654
Schedule of Carrying Value of Equity Investments	The changes in the carrying value of the Company’s equity investments without readily determinable fair values for which the Company elected the measurement alternative was as follows: Schedule of Carrying Value of Equity Investments 2021 2020 Three Months Ended October 31, 2021 2020 (in thousands) Balance, beginning of period $ 2,743 $ 4,109 Redemption for Visa mandatory release assessment — (1,870 ) Adjustment for observable transactions involving a similar investment from the same issuer (346 ) (130 ) Impairments — — Balance, end of the period $ 2,397 $ 2,109
Schedule of Unrealized (losses) Gains for All Equity Investments	Unrealized gains and losses for all equity investments included the following: Schedule of Unrealized (losses) Gains for All Equity Investments 2021 2020 Three Months Ended October 31, 2021 2020 (in thousands) Net losses recognized during the period on equity investments $ (14,494 ) $ (920 ) Less: net gains and losses recognized during the period on equity investments sold during the period — — Unrealized losses recognized during the period on equity investments still held at the reporting date $ (14,494 ) $ (920 )
Summary of Changes in Equity Method Investments	The following table summarizes the change in the balance of the Company’s equity method investment: Summary of Changes in Equity Method Investments Three Months Ended October 31, 2021 2020 (in thousands) Balance, beginning of period $ 2,901 $ — Purchase of convertible preferred stock 1,051 — Equity in the net loss of investee (441 ) — Amortization of equity method basis difference (182 ) — Balance, end of period $ 3,329 $ —
Summary of Statements of Operations	Summarized financial information of the EMI was as follows: Summary of Statements of Operations Three Months Ended October 31, 2021 2020 (in thousands) Revenues $ 1,691 $ — Costs and expenses: Direct cost of revenues 1,462 — Selling, general and administrative 1,889 — Depreciation and amortization - - Severance - - Total costs and expenses 3,351 — Loss from operations (1,660 ) — Other expense (1 ) — Net loss $ (1,661 ) $ —

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Oct. 31, 2021
Fair Value Disclosures [Abstract]
Schedule of Balance of Assets Measured at Fair Value On a Recurring Basis	The following table presents the balance of assets and liabilities measured at fair value on a recurring basis: Schedule of Balance of Assets Measured at Fair Value On a Recurring Basis Level 1 (1) Level 2 (2) Level 3 (3) Total (in thousands) October 31, 2021 Debt securities $ 1,627 $ 12,006 $ — $ 13,633 Equity investments included in current assets 31,144 — — 31,144 Equity investments included in noncurrent assets — — 2,119 2,119 Total $ 32,771 $ 12,006 $ 2,119 $ 46,896 Contingent consideration included in: Other current liabilities $ — $ — $ (628 ) $ (628 ) Other noncurrent liabilities — — (387 ) (387 ) Total $ — $ — $ (1,015 ) $ (1,015 ) July 31, 2021 Debt securities $ 1,652 $ 12,360 $ — $ 14,012 Equity investments included in current assets 40,225 2,209 — 42,434 Equity investments included in noncurrent assets — — 2,465 2,465 Total $ 41,877 $ 14,569 $ 2,465 $ 58,911 Contingent consideration included in: Other current liabilities $ — $ — $ (628 ) $ (628 ) Other noncurrent liabilities — — (397 ) (397 ) Total $ — $ — $ (1,025 ) $ (1,025 ) (1) quoted prices in active markets for identical assets or liabilities (2) observable inputs other than quoted prices in active markets for identical assets and liabilities (3) no observable pricing inputs in the market
Schedule of Assets Measured at Fair Value On a Recurring Basis Using Significant Unobservable Inputs (Level 3)	The following table summarizes the change in the balance of the Company’s assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3): Schedule of Assets Measured at Fair Value On a Recurring Basis Using Significant Unobservable Inputs (Level 3) Three Months Ended October 31, 2021 2020 (in thousands) Balance, beginning of period $ 2,465 $ 3,825 Redemption for Visa mandatory release assessment — (1,870 ) Total losses included in “Other expense, net” (346 ) (130 ) Balance, end of period $ 2,119 $ 1,825 Change in unrealized gains or losses for the period included in earnings for assets held at the end of the period $ — $ —
Schedule of Liabilities Measured at Fair Value On a Recurring Basis Using Significant Unobservable Inputs (Level 3)	The following table summarizes the change in the balance of the Company’s liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3): Schedule of Liabilities Measured at Fair Value On a Recurring Basis Using Significant Unobservable Inputs (Level 3) Three Months Ended October 31, 2021 2020 (in thousands) Balance, beginning of period $ 1,025 $ 396 Total gains included in “Foreign currency translation adjustment” (10 ) (5 ) Balance, end of period $ 1,015 $ 391 Change in unrealized gains or losses for the period included in earnings for liabilities held at the end of the period $ — $ —

Variable Interest Entity (Table

Variable Interest Entity (Tables)	3 Months Ended
	Oct. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Net Income (loss) and Aggregate Funding Repaid to the Company By VIE	The VIE’s net income and aggregate funding repaid to the Company by the VIE were as follows: Schedule of Net Income (loss) and Aggregate Funding Repaid to the Company By VIE Three Months Ended October 31, 2021 2020 (in thousands) Net income of the VIE $ 144 $ — Aggregate funding repaid to the Company by the VIE, net $ (3 ) $ —
VIE’s Summarized Consolidated Balance Sheet	The VIE’s summarized consolidated balance sheet amounts are as follows: VIE’s Summarized Consolidated Balance Sheet October 31, 2021 July 31, 2021 (in thousands) Assets: Cash and equivalents $ 1,419 $ 1,364 Restricted cash 5,384 3,848 Trade accounts receivable, net 31 91 Prepaid expenses 210 344 Other current assets 863 858 Total current assets - - Goodwill - - Property, plant, and equipment, net 652 637 Equity investments - - Operating lease right-of-use assets - - Deferred income tax assets, net - - Other assets - - Other intangibles, net 1,042 1,042 Total assets $ 9,601 $ 8,184 Liabilities and noncontrolling interests: Trade accounts payable $ 5 $ 312 Accrued expenses 41 26 Other current liabilities 6,058 4,491 Due to the Company 5 8 Accumulated other comprehensive loss (6 ) (7 ) Noncontrolling interests 3,498 3,354 Total liabilities and noncontrolling interests $ 9,601 $ 8,184

Other Operating Expense, Net (T

Other Operating Expense, Net (Tables)	3 Months Ended
	Oct. 31, 2021
Other Income and Expenses [Abstract]
Schedule of Other Operating Expense, Net	The following table summarizes the other operating expense, net by business segment: Schedule of Other Operating Expense, Net Three Months Ended October 31, 2021 2020 (in thousands) Corporate—Straight Path Communications Inc. class action legal fees $ (978 ) $ (321 ) Corporate—Straight Path Communications Inc. class action insurance claims 915 623 Traditional Communications—net2phone indemnification claim (25 ) — Traditional Communications—Carrier Services settlement — (554 ) Total other operating expense, net $ (88 ) $ (252 )

(Loss) Earnings Per Share (Tabl

(Loss) Earnings Per Share (Tables)	3 Months Ended
	Oct. 31, 2021
Earnings Per Share [Abstract]
Schedule of Weighted-average Number of Shares Used in the Calculation of Basic and Diluted (Loss) Earnings Per Share	The weighted-average number of shares used in the calculation of basic and diluted (loss) earnings per share attributable to the Company’s common stockholders consists of the following: Schedule of Weighted-average Number of Shares Used in the Calculation of Basic and Diluted (Loss) Earnings Per Share Three Months Ended October 31, 2021 2020 (in thousands) Basic weighted-average number of shares 25,566 25,534 Effect of dilutive securities: Stock options — — Non-vested restricted Class B common stock — 327 Diluted weighted-average number of shares 25,566 25,861
Schedule of Outstanding Stock Options Excluded from the Calculation of Diluted (Loss) Earnings Per Share	The following shares were excluded from the calculation of diluted (loss) earnings per share: Schedule of Outstanding Stock Options Excluded from the Calculation of Diluted (Loss) Earnings Per Share Three Months Ended October 31, 2021 2020 (in thousands) Stock options 1,035 1,104 Non-vested restricted Class B common stock 352 — Shares excluded from the calculation of diluted earnings per share 1,387 1,104

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
	Oct. 31, 2021
Equity:
Schedule of Accumulated Balances for Each Classification of Other Comprehensive (Loss) Income	The accumulated balances for each classification of other comprehensive (loss) income were as follows: Schedule of Accumulated Balances for Each Classification of Other Comprehensive (Loss) Income Unrealized Foreign Currency Translation Accumulated Other Comprehensive Loss (in thousands) Balance, July 31, 2021 $ (9 ) $ (10,174 ) $ (10,183 ) Other comprehensive (loss) income attributable to IDT Corporation (111 ) 1,068 957 Balance, October 31, 2021 $ (120 ) $ (9,106 ) $ (9,226 )

Other Expense, Net (Tables)

Other Expense, Net (Tables)	3 Months Ended
	Oct. 31, 2021
Other Income and Expenses [Abstract]
Schedule of Other Expense Net	Other expense, net consists of the following: Schedule of Other Expense Net Three Months Ended 2021 2020 (in thousands) Foreign currency transaction losses $ (250 ) $ (428 ) Equity in net loss of investee (623 ) — Losses on investments (see Note 7) (14,494 ) (920 ) Other (849 ) (32 ) Total other expense, net $ (16,216 ) $ (1,380 )

Schedule of Operating Results o

Schedule of Operating Results of Business Segments (Details) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2021	Oct. 31, 2020
Segment Reporting Information [Line Items]
Revenues	$ 370,083	$ 343,425
Operating Income (Loss)	13,773	13,253
Fintech [Member]
Segment Reporting Information [Line Items]
Revenues	22,568	20,087
Operating Income (Loss)	(45)	3,136
Net2phone-UCaaS [Member]
Segment Reporting Information [Line Items]
Revenues	12,913	9,702
Operating Income (Loss)	(4,198)	(3,880)
Traditional Communications [Member]
Segment Reporting Information [Line Items]
Revenues	334,602	313,636
Operating Income (Loss)	20,125	15,861
Corporate Segment [Member]
Segment Reporting Information [Line Items]
Revenues
Operating Income (Loss)	$ (2,109)	$ (1,864)

Business Segment Information (D

Business Segment Information (Details Narrative)	3 Months Ended
	Oct. 31, 2021Integer
Segment Reporting [Abstract]
Number of reportable segments	3

Schedule of Revenues Disaggrega

Schedule of Revenues Disaggregated by Business Segment and Service Offered to Customers (Details) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2021	Oct. 31, 2020
Disaggregation of Revenue [Line Items]
Total	$ 370,083	$ 343,425
Fintech [Member]
Disaggregation of Revenue [Line Items]
Total	22,568	20,087
Net2phone-UCaaS [Member]
Disaggregation of Revenue [Line Items]
Total	12,913	9,702
Traditional Communications [Member]
Disaggregation of Revenue [Line Items]
Total	334,602	313,636
BOSS Revolution Money Transfer [Member] | Fintech [Member]
Disaggregation of Revenue [Line Items]
Total	12,496	15,157
National Retail Solutions [Member] | Fintech [Member]
Disaggregation of Revenue [Line Items]
Total	10,072	4,930
Mobile Top-Up [Member] | Traditional Communications [Member]
Disaggregation of Revenue [Line Items]
Total	128,485	95,835
BOSS Revolution Calling [Member] | Traditional Communications [Member]
Disaggregation of Revenue [Line Items]
Total	105,969	117,350
Carrier Services [Member] | Traditional Communications [Member]
Disaggregation of Revenue [Line Items]
Total	89,195	87,773
Other [Member] | Traditional Communications [Member]
Disaggregation of Revenue [Line Items]
Total	$ 10,953	$ 12,678

Schedule of Revenues Disaggre_2

Schedule of Revenues Disaggregated by Geographic Region (Details) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2021	Oct. 31, 2020
Disaggregation of Revenue [Line Items]
Total	$ 370,083	$ 343,425
UNITED STATES
Disaggregation of Revenue [Line Items]
Total	268,084	295,800
UNITED KINGDOM
Disaggregation of Revenue [Line Items]
Total	81,769	29,421
Others [Member]
Disaggregation of Revenue [Line Items]
Total	20,230	18,204
Non-US [Member]
Disaggregation of Revenue [Line Items]
Total	101,999	47,625
Fintech [Member]
Disaggregation of Revenue [Line Items]
Total	22,568	20,087
Fintech [Member] | UNITED STATES
Disaggregation of Revenue [Line Items]
Total	22,568	20,087
Fintech [Member] | UNITED KINGDOM
Disaggregation of Revenue [Line Items]
Total
Fintech [Member] | Others [Member]
Disaggregation of Revenue [Line Items]
Total
Fintech [Member] | Non-US [Member]
Disaggregation of Revenue [Line Items]
Total
Net2phone-UCaaS [Member]
Disaggregation of Revenue [Line Items]
Total	12,913	9,702
Net2phone-UCaaS [Member] | UNITED STATES
Disaggregation of Revenue [Line Items]
Total	6,824	5,090
Net2phone-UCaaS [Member] | UNITED KINGDOM
Disaggregation of Revenue [Line Items]
Total
Net2phone-UCaaS [Member] | Others [Member]
Disaggregation of Revenue [Line Items]
Total	6,089	4,612
Net2phone-UCaaS [Member] | Non-US [Member]
Disaggregation of Revenue [Line Items]
Total	6,089	4,612
Traditional Communications [Member]
Disaggregation of Revenue [Line Items]
Total	334,602	313,636
Traditional Communications [Member] | UNITED STATES
Disaggregation of Revenue [Line Items]
Total	238,692	270,623
Traditional Communications [Member] | UNITED KINGDOM
Disaggregation of Revenue [Line Items]
Total	81,769	29,421
Traditional Communications [Member] | Others [Member]
Disaggregation of Revenue [Line Items]
Total	14,141	13,592
Traditional Communications [Member] | Non-US [Member]
Disaggregation of Revenue [Line Items]
Total	$ 95,910	$ 43,013

Schedule of Information About C

Schedule of Information About Contract Liability Balance (Details) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2021	Oct. 31, 2020
Revenue from Contract with Customer [Abstract]
Revenue recognized in the period from amounts included in the contract liability balance at the beginning of the period	$ 22,456	$ 23,460

Schedule of Deferred Customer C

Schedule of Deferred Customer Contract Acquisition Costs (Details) - USD ($) $ in Thousands	Oct. 31, 2021	Jul. 31, 2021
Revenue from Contract with Customer [Abstract]
Deferred customer contract acquisition costs included in “Other current assets”	$ 3,787	$ 3,460
Deferred customer contract acquisition costs included in “Other assets”	3,241	3,151
Total	$ 7,028	$ 6,611

Schedule of Amortization of Def

Schedule of Amortization of Deferred Customer Contract Acquisition Costs (Details) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2021	Oct. 31, 2020
Revenue from Contract with Customer [Abstract]
Amortization of deferred customer contract acquisition costs	$ 1,012	$ 767

Schedule of Supplemental Disclo

Schedule of Supplemental Disclosures Related to the Company's Operating Leases (Details) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2021	Oct. 31, 2020
Leases
Operating lease cost	$ 700	$ 729
Short-term lease cost	347	65
Total lease cost	1,047	794
Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases	$ 695	$ 710

Schedule of Supplemental Disc_2

Schedule of Supplemental Disclosures Related Weighted Average Operating Leases (Details)	Oct. 31, 2021	Jul. 31, 2021
Leases
Operating Lease, Weighted Average Remaining Lease Term	3 years 4 months 24 days	3 years 4 months 24 days
Operating Lease, Weighted Average Discount Rate, Percent	2.90%	2.90%

Schedule of Aggregate Operating

Schedule of Aggregate Operating Lease Liability (Details) - USD ($) $ in Thousands	Oct. 31, 2021	Jul. 31, 2021
Leases
Operating lease liabilities included in “Other current liabilities”	$ 2,500	$ 2,456
Operating lease liabilities included in noncurrent liabilities	5,533	5,473
Total	$ 8,033	$ 7,929

Schedule of Future Minimum Matu

Schedule of Future Minimum Maturities of Operating Lease Liabilities (Details) - USD ($) $ in Thousands	Oct. 31, 2021	Jul. 31, 2021
Leases
2022	$ 2,698
2023	2,406
2024	1,967
2025	1,095
2026	139
Thereafter	154
Total lease payments	8,459
Less imputed interest	(426)
Total operating lease liabilities	$ 8,033	$ 7,929

Leases (Details Narrative)

Leases (Details Narrative) - USD ($) $ in Thousands	Sep. 13, 2021	Oct. 31, 2021	Oct. 31, 2020
Operating lease cost		$ 700	$ 729
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	$ 700
Rafael Holdings Inc. [Member]
Operating lease cost		$ 500	$ 500
Newark [Member]
Lease description		The Newark lease expires in April 2025 and the Israel lease expires in July 2025
Minimum [Member]
Lessee, Operating Lease, Term of Contract		1 year
Maximum [Member]
Lessor, Operating Lease, Term of Contract		6 years

Schedule of Cash, Cash Equivale

Schedule of Cash, Cash Equivalents, and Restricted Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Oct. 31, 2021	Jul. 31, 2021	Oct. 31, 2020	Jul. 31, 2020
Cash and Cash Equivalents [Abstract]
Cash and cash equivalents	$ 114,543	$ 107,147
Restricted cash and cash equivalents	107,317	119,769
Total cash, cash equivalents, and restricted cash and cash equivalents	$ 221,860	$ 226,916	$ 188,128	$ 201,222

Cash, Cash Equivalents, and R_3

Cash, Cash Equivalents, and Restricted Cash and Cash Equivalents (Details Narrative) - USD ($) $ in Thousands	Oct. 31, 2021	Jul. 31, 2021
Restricted Cash and Cash Equivalents, Current	$ 107,317	$ 119,769
Cash and Cash Equivalents, at Carrying Value	114,543	107,147
IDT Financial Services Limited [Member]
Restricted Cash and Cash Equivalents, Current	101,800	115,800
IDT Payment Services [Member]
Cash and Cash Equivalents, at Carrying Value	$ 16,700	$ 15,300

Schedule of Available-for-sale

Schedule of Available-for-sale Securities (Details) - USD ($) $ in Thousands		Oct. 31, 2021	Jul. 31, 2021
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items]
Debt Securities, Available-for-sale, Amortized Cost		$ 13,753	$ 14,021
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax		33	41
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax		(153)	(50)
Debt Securities, Available-for-sale		13,633	14,012
Certificates of Deposit [Member]
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	[1]		1,200
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	[1]		3
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax	[1]
Debt Securities, Available-for-sale	[1]		1,203
US Treasury Bill Securities [Member]
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items]
Debt Securities, Available-for-sale, Amortized Cost		1,663	1,669
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax		(36)	(17)
Debt Securities, Available-for-sale		1,627	1,652
Corporate Bond Securities [Member]
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items]
Debt Securities, Available-for-sale, Amortized Cost		6,276	6,327
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax		33	38
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax		(116)	(33)
Debt Securities, Available-for-sale		6,193	6,332
Municipal Bonds [Member]
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items]
Debt Securities, Available-for-sale, Amortized Cost		5,814	4,825
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax		(1)
Debt Securities, Available-for-sale		$ 5,813	$ 4,825
[1]	Each of the Company’s certificates of deposit has a CUSIP, was purchased in the secondary market through a broker and may be sold in the secondary market.

Schedule of Contractual Maturit

Schedule of Contractual Maturities of Available-for-sale Debt Securities (Details) - USD ($) $ in Thousands	Oct. 31, 2021	Jul. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Within one year	$ 1,258
After one year through five years	6,326
After five years through ten years	5,249
After ten years	800
Total	$ 13,633	$ 14,012

Schedule of Available-for-sal_2

Schedule of Available-for-sale Securities, Unrealized Loss Position (Details) - USD ($) $ in Thousands	Oct. 31, 2021	Jul. 31, 2021
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items]
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	$ 153	$ 50
Debt Securities, Available-for-sale, Unrealized Loss Position	11,768	4,945
US Treasury Bill Securities [Member]
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items]
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	36	17
Debt Securities, Available-for-sale, Unrealized Loss Position	1,627	1,652
Corporate Bond Securities [Member]
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items]
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	116	33
Debt Securities, Available-for-sale, Unrealized Loss Position	5,572	$ 3,293
Municipal Bonds [Member]
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items]
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	1
Debt Securities, Available-for-sale, Unrealized Loss Position	$ 4,569

Schedule of Continuous Unrealiz

Schedule of Continuous Unrealized Loss Position for 12 Months or Longer (Details) $ in Thousands	Oct. 31, 2021USD ($)
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items]
Unrealized Losses, Securities in a continuous unrealized loss position for 12 months or longer	$ 80
Fair Value, Securities in a continuous unrealized loss position for 12 months or longer	2,846
US Treasury Bill Securities [Member]
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items]
Unrealized Losses, Securities in a continuous unrealized loss position for 12 months or longer	36
Fair Value, Securities in a continuous unrealized loss position for 12 months or longer	1,627
Corporate Bond Securities [Member]
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items]
Unrealized Losses, Securities in a continuous unrealized loss position for 12 months or longer	44
Fair Value, Securities in a continuous unrealized loss position for 12 months or longer	$ 1,219

Debt Securities (Details Narrat

Debt Securities (Details Narrative) - USD ($) $ in Millions	3 Months Ended
	Oct. 31, 2021	Oct. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Proceeds from Sale and Maturity of Debt Securities, Available-for-sale	$ 3.9	$ 6.6

Schedule of Equity Investments

Schedule of Equity Investments (Details) (Parenthetical) - shares	3 Months Ended	12 Months Ended
	Oct. 31, 2021	Jul. 31, 2021
Common Class B [Member] | Zedge Inc [Member]
Number of related party shares received	42,282	42,282
Common Class B [Member] | Rafael Holdings Inc. [Member]
Number of related party shares received	290,214	246,565
Restricted Common Class B [Member] | Rafael Holdings Inc. [Member]
Number of related party shares received		43,649

Schedule of Equity Investment_2

Schedule of Equity Investments (Details) - USD ($) $ in Thousands	Oct. 31, 2021	Jul. 31, 2021
Equity Securities, FV-NI, Current	$ 31,144	$ 42,434
Long-term Investments	9,487	11,654
Other Marketable Equity Securities [Member]
Equity Securities, FV-NI, Current	5,186	3,630
Mutual Fund [Member]
Equity Securities, FV-NI, Current	23,276	23,467
Hedge Funds [Member]
Long-term Investments	2,814	3,563
Other Investments [Member]
Long-term Investments	1,225	2,725
Common Class B [Member] | Zedge Inc [Member]
Equity Securities, FV-NI, Current	488	649
Common Class B [Member] | Rafael Holdings Inc. [Member]
Equity Securities, FV-NI, Current	2,194	12,479
Restricted Common Class B [Member] | Rafael Holdings Inc. [Member]
Equity Securities, FV-NI, Current		2,209
Series C Preferred Stock [Member]
Long-term Investments	2,119	2,465
Series B Convertible Preferred Stock [Member]
Long-term Investments	$ 3,329	$ 2,901

Schedule of Carrying Value of E

Schedule of Carrying Value of Equity Investments (Details) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2021	Oct. 31, 2020
Cash and Cash Equivalents [Abstract]
Balance, beginning of period	$ 2,743	$ 4,109
Redemption for Visa mandatory release assessment		(1,870)
Adjustment for observable transactions involving a similar investment from the same issuer	(346)	(130)
Impairments
Balance, end of the period	$ 2,397	$ 2,109

Schedule of Unrealized (losses)

Schedule of Unrealized (losses) Gains for All Equity Investments (Details) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2021	Oct. 31, 2020
Cash and Cash Equivalents [Abstract]
Net losses recognized during the period on equity investments	$ (14,494)	$ (920)
Less: net gains and losses recognized during the period on equity investments sold during the period
Unrealized losses recognized during the period on equity investments still held at the reporting date	$ (14,494)	$ (920)

Summary of Changes in Equity Me

Summary of Changes in Equity Method Investments (Details) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2021	Oct. 31, 2020
Purchase of convertible preferred stock	$ 1,051
Equity in the net loss of investee	(623)
Convertible Preferred Stock [Member] | Equity Method Investee [Member]
Balance, beginning of period	2,901
Purchase of convertible preferred stock	1,051
Equity in the net loss of investee	(441)
Amortization of equity method basis difference	(182)
Balance, end of period	$ 3,329

Summary of Statements of Operat

Summary of Statements of Operations (Details) - USD ($) $ in Thousands		3 Months Ended
		Oct. 31, 2021	Oct. 31, 2020
Summary of Investment Holdings [Line Items]
Revenues		$ 370,083	$ 343,425
Direct cost of revenues		291,625	273,174
Selling, general and administrative	[1]	60,113	52,140
Depreciation, Depletion and Amortization, Nonproduction		4,446	4,493
Severance Costs		38	113
Total costs and expenses		356,222	329,920
Loss from operations		13,773	13,253
Other expense		(16,216)	(1,380)
Net loss		(2,345)	8,415
Equity Method Investee [Member]
Summary of Investment Holdings [Line Items]
Revenues		1,691
Direct cost of revenues		1,462
Selling, general and administrative		1,889
Depreciation, Depletion and Amortization, Nonproduction
Severance Costs
Total costs and expenses		3,351
Loss from operations		(1,660)
Other expense		(1)
Net loss		$ (1,661)
[1]	Stock-based compensation included in selling, general and administrative expenses

Equity Investments (Details Nar

Equity Investments (Details Narrative) - USD ($) $ in Thousands	Aug. 10, 2021	Feb. 02, 2021	Oct. 31, 2021	Oct. 31, 2020
Payments to acquire equity method investments			$ 1,051
Equity Method Investment, Difference Between Carrying Amount and Underlying Equity	$ 1,000	$ 3,400
Unrestricted Common Class B [Member] | Rafael Holdings Inc. [Member]
Number of related party shares received			28,320
Class B Common Stock [Member] | Rafael Holdings Inc. [Member]
Investment Owned, Balance, Shares			261,894
Unrealized losses			$ 12,500
Visa Series C Convertible Participating Preferred Stock [Member]
Equity Securities without Readily Determinable Fair Value, Downward Price Adjustment, Annual Amount			$ 300	$ 100
Series B Convertible Preferred Stock [Member] | Equity Method Investee [Member]
Payments to acquire equity method investments		$ 4,000
Equity method investment, ownership percentage		23.95%
Series C Convertible Preferred Stock [Member] | Equity Method Investee [Member]
Payments to acquire equity method investments	$ 1,100
Equity method investment, ownership percentage	26.57%

Schedule of Balance of Assets M

Schedule of Balance of Assets Measured at Fair Value On a Recurring Basis (Details) - USD ($) $ in Thousands		Oct. 31, 2021	Jul. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities		$ 13,633	$ 14,012
Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities		13,633	14,012
Equity investments included in current assets		31,144	42,434
Equity investments included in noncurrent assets		2,119	2,465
Total		46,896	58,911
Contingent consideration included in other current liabilities		(628)	(628)
Contingent consideration included in other noncurrent liabilities		(387)	(397)
Contingent consideration included in other liabilities		(1,015)	(1,025)
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	[1]	1,627	1,652
Equity investments included in current assets	[1]	31,144	40,225
Equity investments included in noncurrent assets	[1]
Total	[1]	32,771	41,877
Contingent consideration included in other current liabilities	[1]
Contingent consideration included in other noncurrent liabilities	[1]
Contingent consideration included in other liabilities	[1]
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	[2]	12,006	12,360
Equity investments included in current assets	[2]		2,209
Equity investments included in noncurrent assets	[2]
Total	[2]	12,006	14,569
Contingent consideration included in other current liabilities	[2]
Contingent consideration included in other noncurrent liabilities	[2]
Contingent consideration included in other liabilities	[2]
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	[3]
Equity investments included in current assets	[3]
Equity investments included in noncurrent assets	[3]	2,119	2,465
Total	[3]	2,119	2,465
Contingent consideration included in other current liabilities	[3]	(628)	(628)
Contingent consideration included in other noncurrent liabilities	[3]	(387)	(397)
Contingent consideration included in other liabilities	[3]	$ (1,015)	$ (1,025)
[1]	quoted prices in active markets for identical assets or liabilities
[2]	observable inputs other than quoted prices in active markets for identical assets and liabilities
[3]	no observable pricing inputs in the market

Schedule of Assets Measured at

Schedule of Assets Measured at Fair Value On a Recurring Basis Using Significant Unobservable Inputs (Level 3) (Details) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2021	Oct. 31, 2020
Fair Value Disclosures [Abstract]
Balance, beginning of period	$ 2,465	$ 3,825
Redemption for Visa mandatory release assessment		(1,870)
Total losses included in "Other expense, net"	(346)	(130)
Balance, end of period	2,119	1,825
Change in unrealized gains or losses for the period included in earnings for assets held at the end of the period

Schedule of Liabilities Measure

Schedule of Liabilities Measured at Fair Value On a Recurring Basis Using Significant Unobservable Inputs (Level 3) (Details) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2021	Oct. 31, 2020
Fair Value Disclosures [Abstract]
Balance, beginning of period	$ 1,025	$ 396
Total gains included in "Foreign currency translation adjustment"	(10)	(5)
Balance, end of period	1,015	391
Change in unrealized gains or losses for the period included in earnings for liabilities held at the end of the period

Fair Value Measurements (Detail

Fair Value Measurements (Details Narrative) - USD ($) $ in Millions	Oct. 31, 2021	Jul. 31, 2021
Fair Value Disclosures [Abstract]
Investment in hedge funds	$ 2.8	$ 3.6

Acquisition (Details Narrative)

Acquisition (Details Narrative) - IDT International Telecom, Inc [Member] - USD ($) $ in Millions	Jun. 15, 2021	Dec. 03, 2020	Mar. 22, 2021
Business Acquisition [Line Items]
Business Acquisition, Percentage of Voting Interests Acquired	19.00%	51.00%
Payments to Acquire Businesses, Net of Cash Acquired		$ 2.4
estimated fair value of contingent consideration	$ 0.2	0.4
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High		$ 0.5
Exercise price			$ 0.3
Payments to Acquire Businesses, Gross	1
Maximum [Member]
Business Acquisition [Line Items]
estimated fair value of contingent consideration	$ 0.3
Put/Call Option Agreement [Member]
Business Acquisition [Line Items]
Business Acquisition, Percentage of Voting Interests Acquired		5.00%

Schedule of Net Income (loss) a

Schedule of Net Income (loss) and Aggregate Funding Repaid to the Company By VIE (Details) - Variable Interest Entity, Primary Beneficiary [Member] - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2021	Oct. 31, 2020
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Net income of the VIE	$ 144
Aggregate funding repaid to the Company by the VIE, net	$ (3)

VIE_s Summarized Consolidated B

VIE’s Summarized Consolidated Balance Sheet (Details) - USD ($) $ in Thousands	Oct. 31, 2021	Jul. 31, 2021
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Cash and equivalents	$ 114,543	$ 107,147
Trade accounts receivable, net	51,263	46,644
Prepaid expenses	17,130	13,694
Other current assets	26,491	16,779
Assets, Current	385,490	388,135
Goodwill	14,798	14,897
Property, plant, and equipment, net	30,870	30,829
Long-term Investments	9,487	11,654
Operating Lease, Right-of-Use Asset	7,768	7,671
Deferred Income Tax Assets, Net	41,686	41,502
Other Assets, Noncurrent	10,318	10,389
Other intangibles, net	7,312	7,578
Total assets	507,729	512,655
Trade accounts payable	31,615	24,502
Accrued expenses	120,440	129,085
Other current liabilities	32,223	27,930
Accumulated other comprehensive loss	(9,226)	(10,183)
Noncontrolling interests	1,690	1,750
Total liabilities and noncontrolling interests	507,729	512,655
Variable Interest Entity, Primary Beneficiary [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Cash and equivalents	1,419	1,364
Restricted cash	5,384	3,848
Trade accounts receivable, net	31	91
Prepaid expenses	210	344
Other current assets	863	858
Assets, Current
Goodwill
Property, plant, and equipment, net	652	637
Long-term Investments
Operating Lease, Right-of-Use Asset
Deferred Income Tax Assets, Net
Other Assets, Noncurrent
Other intangibles, net	1,042	1,042
Total assets	9,601	8,184
Trade accounts payable	5	312
Accrued expenses	41	26
Other current liabilities	6,058	4,491
Due to the Company	5	8
Accumulated other comprehensive loss	(6)	(7)
Noncontrolling interests	3,498	3,354
Total liabilities and noncontrolling interests	$ 9,601	$ 8,184

Schedule of Other Operating Exp

Schedule of Other Operating Expense, Net (Details) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2021	Oct. 31, 2020
Traditional Communications—net2phone indemnification claim	$ (25)
Traditional Communications—Carrier Services settlement		(554)
Total other operating expense, net	(88)	(252)
Straight Path [Member]
Corporate—Straight Path Communications Inc. class action legal fees	(978)	(321)
Corporate—Straight Path Communications Inc. class action insurance claims	$ 915	$ 623

Revolving Credit Facility (Deta

Revolving Credit Facility (Details Narrative) - Revolving Credit Facility [Member] - TD Bank [Member] - USD ($) $ in Millions	3 Months Ended
	Oct. 31, 2021	May 17, 2021
Line of Credit Facility [Line Items]
Line of credit, maximum borrowing capacity		$ 25
Credit facility, description	The revolving credit facility is secured by primarily all of IDT Telecom’s assets. The principal outstanding bears interest per annum at the Intercontinental Exchange Benchmark Administration Ltd. LIBOR multiplied by the Regulation D maximum reserve requirement plus 125 to 175 basis points, depending upon IDT Telecom’s leverage ratio as computed for the most recent fiscal quarter. Interest is payable monthly, and all outstanding principal and any accrued and unpaid interest is due in May 2024. IDT Telecom pays a quarterly unused commitment fee on the average daily balance of the unused portion of the $25.0 million commitment of 30 to 85 basis points, depending upon IDT Telecom’s leverage ratio as computed for the most recent fiscal quarter.
Revolving credit, unused portion amount		$ 25

Equity (Details Narrative)

Equity (Details Narrative) - USD ($)	Sep. 14, 2021	Oct. 31, 2021	Oct. 31, 2020	Jul. 31, 2021
Class of Stock [Line Items]
Stock repurchase program, remaining number of shares authorized to be repurchased		5,800,000
Proceeds from exercise of stock options			$ 185,000
Number of common stock options exercise		0	21,894
Class B Common Stock [Member] [Default Label]
Class of Stock [Line Items]
Aggregate repurchased shares				8,000,000
Class B common stock shares repurchased		0	463,792
Aggregate purchase price of shares repurchased			$ 2,800,000
Class B Common Stock [Member] [Default Label] | Deferred Stock Units [Member]
Class of Stock [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number		154,169
Class B Common Stock [Member] [Default Label] | Employees [Member]
Class of Stock [Line Items]
Class B common stock shares repurchased		627	1,053
Aggregate purchase price of shares repurchased		$ 26,000	$ 7,000
Common Class B [Member]
Class of Stock [Line Items]
Additional number of shares authorized	175,000
Common Class B [Member] | Deferred Stock Units [Member]
Class of Stock [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Description		The number of shares issuable on the vesting date varies between 50% to 200% of the number of DSUs that vest on that vesting date, depending on the market price for the underlying Class B common stock on the vesting date relative to the market price at the time of the grant

Redeemable Noncontrolling Int_2

Redeemable Noncontrolling Interest (Details Narrative) - Common Class B [Member] - National Retail Solutions [Member] $ in Millions	Sep. 29, 2021USD ($)shares
Noncontrolling Interest [Line Items]
Sale of Stock, Number of Shares Issued in Transaction | shares	862,442
Capital stock outstanding percentage	2.50%
Sale of Stock, Consideration Received on Transaction | $	$ 10

Schedule of Weighted-average Nu

Schedule of Weighted-average Number of Shares Used in the Calculation of Basic and Diluted (Loss) Earnings Per Share (Details) - shares	3 Months Ended
	Oct. 31, 2021	Oct. 31, 2020
Earnings Per Share [Abstract]
Basic weighted-average number of shares	25,566,000	25,534,000
Effect of dilutive securities: Stock options
Effect of dilutive securities: Non-vested restricted Class B common stock		327,000
Diluted weighted-average number of shares	25,566,000	25,861,000

Schedule of Outstanding Stock O

Schedule of Outstanding Stock Options Excluded from the Calculation of Diluted (Loss) Earnings Per Share (Details) - shares	3 Months Ended
	Oct. 31, 2021	Oct. 31, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from the calculation of diluted earnings per share	1,387,000	1,104,000
Share-based Payment Arrangement, Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from the calculation of diluted earnings per share	1,035,000	1,104,000
Non-vested Restricted Class B Common Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from the calculation of diluted earnings per share	352,000

Schedule of Accumulated Balance

Schedule of Accumulated Balances for Each Classification of Other Comprehensive (Loss) Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2021	Oct. 31, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	$ (10,183)
Other comprehensive (loss) income attributable to IDT Corporation	957	$ 222
Ending balance	(9,226)
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(9)
Other comprehensive (loss) income attributable to IDT Corporation	(111)
Ending balance	(120)
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(10,174)
Other comprehensive (loss) income attributable to IDT Corporation	1,068
Ending balance	$ (9,106)

Commitments and Contingencies (

Commitments and Contingencies (Details Narrative) - USD ($) $ in Millions	Oct. 31, 2021	Jul. 31, 2021
Loss Contingencies [Line Items]
Accrued Liabilities	$ 38.2	$ 38.3
Purchase Obligation	4
Performance bonds outstanding	19.6
Federal Telecommunications Relay Services Fund [Member]
Loss Contingencies [Line Items]
Loss Contingency, Estimate of Possible Loss	2.9
Universal Service Fund [Member]
Loss Contingencies [Line Items]
Loss Contingency, Estimate of Possible Loss	$ 1.8

Schedule of Other Expense Net (

Schedule of Other Expense Net (Details) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2021	Oct. 31, 2020
Other Income and Expenses [Abstract]
Foreign currency transaction losses	$ (250)	$ (428)
Equity in net loss of investee	(623)
Losses on investments (see Note 7)	(14,494)	(920)
Other	(849)	(32)
Total other expense, net	$ (16,216)	$ (1,380)