IDT - Earnings call transcript Q4 2021

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Operator

Good evening. And welcome to the IDT Corporation’s Fourth Quarter and Full Fiscal Year 2021 Earnings Call. In today’s presentation, IDT’s management will discuss IDT’s financial and operational results for the three-month and 12-month periods ended July 31, 2021.

During remarks by IDT’s Chief Executive Officer, Samuel Jonas, all participants will be in listen-only mode. [Operator Instructions] After the prepared remarks, Marcelo Fischer, IDT’s Chief Financial Officer will join Mr. Q&A. for Jonas uncertainties made anticipates. prepared statements general conference either those risks call specific to actual Any materially differ or during in the from and to subject remarks nature the whether may the in cause in results company forward-looking which are this that Q&A or session, periodically and in the reports These risks are but discussed include, SEC. not limited IDT uncertainties files with and uncertainties to, the specific risks that that to that either those made update results IDT they assumes statements to factors have forecast. may forward-looking the to no may or make obligation that they from or any actual differ update materially cause less in the income and CapEx, In or the their to session, non-GAAP earnings make non-GAAP per IDT’s presentation adjusted management share. including reference EBITDA non-GAAP may measures, net Q&A adjusted EBITDA, provided nearest schedule non-GAAP CapEx, share income A adjusted reconciles IDT’s GAAP release corresponding EBITDA measures. to in EBITDA, earnings less adjusted and per the non-GAAP net earnings Please of available note that the Investor IDT website. the Relations is the on Corporation IDT earnings release page The also with on SEC. filed the has been a X-K Form release earnings conference to I turn the over will Mr. now Jonas.

Samuel Jonas

today Thank today earnings answer covering XX, Marcelo for after IDT’s and three fourth you, on to questions Financial both results. ended the fourth focused months and discussion Fischer, on the joined my Officer, call, the months Chief quarter XX call XXXX. available fiscal results IDT’s year fiscal I’m Operator. July Welcome remarks. we’ll be full XXXX to XXXX quarter by My and

please our earnings filed more operational year and financial full results our and detailed for release on XXXX, QX report and the Form our today For both fiscal earlier XX-K. discussion and read

XXth. with the on the file or about to October SEC expect XX-K We

results Top-Up improvement powered We in fourth Mobile netXphone, in during to quarter continue business. NRS and our strong the drive growth by IDT’s

strong. XX% markets growth on and again first very and subscription fourth our Canadian U.S. netXphone the was year-over-year, Latin in focus quarter, in growth netXphone. revenue accelerated increasing America Let’s

we not netXphone, them. have of don’t solution a differ and for robust, but deeply remained startup are And netXphone midsize centric enterprise results revenue margin Brazil, exceptional efforts But to a small around to with communication and Our matter companies. kind increasing need different generate for on are on person depending subscription outstanding becoming that better XX solution in-country UCaaS service SLA’s departments no going a metrics big growth Customers in our a department often. get large company hear or that gross us. communicate, company averages. you and pay Texas strategic industry the five that a netXphone localized no consistently we whether big reliability. has running people XX.X%. And you revenue focus them globe focus strategies the in customer netXphone points really the the businesses, If netXphone. of they offerings a go-to-market is above enterprises global or is find netXphone localized basis from multi-channel of becoming help you’re different truly group the something collective in don’t for what margins are tailored and custom we very to want large

year a in per XXXX. over terminal active processing accounts of and ago fourth payment believe terminal has by over processing, at sales the X,XXX advertising increased spin-off and increased exclusive $XXX Board to We year July $XXX legal merchant quarter data the should authorize specifically number also accounts, earlier. the by of addition to new with the ARPU payment quarter sales in that increase to double in packaged of quarter. Pay of advertising NRS quarter. and segment, XX% network netXphone. on Average our believe the climb spin-off early continue data enable continue to name the Within offerings of and accounts calendar substantially from NRS revenue terminals powerful We year-over-year, than At XXXX within work utilization led end revenue robust utilization it. NRS our few. just our to NRS further of completed we the Pay a were XX,XXX our partners, by our the compared year goods increase and in decreased Fintech revenue of Also, course sales a segment, year enormously NRS Transfer Of Money fourth will to of Fintech financial services by preparations consumer free ago more will be tax XX% XXst

revenue discussed quarter, to through increases market exceed fiscal sequentially Top-Up persisted the the segment, finally, that the increased XX% foreign Traditional in previously, fourth As XX%, in the sales second within Communications After revenue in Money Transfer profit we Traditional XXXX. a and in exchange to have fourth compared revenue year Communications transitory our revenue Traditional continue fiscal ago fourth increased of XXXX expectations. BXB Mobile quarter quarter increased our increased would XXXX by by and boosted X%. have gross of year-over-year, powered condition by fiscal by turning materially impact XX% its largest over Communications And revenue quarter to channel. quarter

the in demand Mobile stake past a continue our with increase improvements quarter valuation focus allowance earnings strong reflects the services income of BXB in $X.XX to last the an operator during to addition as fourth several a the growing the impact tax reversal, efforts July Top-Up as increased diluted growth. debt. million recent and year. the the Fourth majority profitability our into quarter for our footprint per cash market revenue the over in worldwide $X.XX drive $XX share quarter to to investments to the our Africa, positive business XXst of generation We in of during helped by will The top-up data-heavy have year increase space, underlying in during as business the Mobile increased Cash drive million mobile from no to quarter African well and in units. expect current an the of Top-Up fiscal million year and an we led extensive of $XX the acquisition that $XXX expand in of

remarkable close, quarter that private stake That $XXX business fund $XX XX-month sold organization our for XX investment end implying the to million up for any valuation congratulating to trailing our the based a third on wrap everyone a was of Following thanking by was revenue on very million, in I at the strong business. and NRS’ NRS want X.X% times approximately to fiscal standard quarter. year. a our by ending what

we the and companies across other not country like our key have quarters past endured with executing We many of multifaceted and Throughout have -- objectives. COVID only dealt issues but have challenges, hard our the hardware. maintained phones, chain globe terminals focus other in the we impacted across our and inventories POS that over several succeed supply

questions. will to take your be I and Marcelo happy Now

Operator

[Operator Instructions] Okay.

The Alta Connor Haley is first question coming Fox from Cap. from

Your live. is line

Connor Haley

Hi, guys. Congrats on the great quarter.

Just one one from quick me.

business valuing business of think Your $XXX forward? reports. Top-Up to international that bought about quarter noticed business it million firm Can Mobile had Top-Up We IMTU a called recently Top-Up in equity impressive going to investors growth. at you Mobile to Thanks. for international your your a press How Ding? business the Ding compares explain how private growth very opportunity a stake another maybe you Mobile majority according

Marcelo Fischer

call Thank today. Hey, joining for our you Connor.

ago Ding million No, a I about of a right. on we they about are is also did, mean, concessions You that received company. valuation Ding month company, private read Irish that $XXX a

our U.S. outside the they the good in the the seeing strong offerings the But valuation that So terms given too at of we the we to They a our just do comparable very are got, U.S. is presence the in don’t welcome very be consider Mobile just very of the We not of know terms performance, robust pretty any have the Top-Up transaction. that have online. own measured online we small still channels strong of in in of presence We and the that they presence Ding we opposite, the size and no, retail well to Ding have in details both U.S., business are in they U.S. IDT them very They both while and same are business. U.S. up and outside in ourselves compete Ding we’ve wise, to quite both Like really in space. believe strong

Top-Up probably a six as is are a think broader larger had growing us While we been little we and substantially focused months part in our the of well. Revolution Mobile channel BOSS last the they in I and wholesale suite that are a on have products But quite than that that of grown very channel channel. BXB

of Ding. a kind bit that’s little compare how to So ourselves we

perspective, are is we potential north we earlier, Asia, growth in us really of our Top-Up business In as said you still having. and that Mobile is though, our for Mobile the Canada, of doing of for Top-Up, there for think if growing there but about I a from to markets, we example, U.S. Europe, like generating terms in well, opportunities us both are business. to million sales now significant sales the out other expand $XXX I Africa, of, Like, all believe for in Caribbean. markets significant mean, is

Top-Ups. And will so beyond of we company is were We we to into going say to than that Mobile today. channel on now a world. mentioned retail our Top-Up we and services. have much to right, payments of a all company, recently They which our Africa and in view Samuel footprint kinds U.S., channel the acquiring are Africa. our opportunity those think in facilitating more take that of we’re broad in Mobile to business opportunity that are provide massive have investment I ourselves I putting Top-Up also advantage be represents. extended operator, of we the prepaid expand finally, continue his primarily remarks, grow platform lot BXB we just acquired And the following, to this But that these and of think in across as the As a services the Mobile a participate BXB operator. to And

not offering we thousands we packages content to include right Top-Ups, and now So grown active now do Mobile but and have catalogue only data our also gift of have an vouchers of subscriptions.

signing fact want are no space. into prepaid. now are And again -- we to digital, now for the companies investors valuations a prepaid we are welcome that global things for playing and -- and -- So now this in all really become that hub

Samuel Jonas

add when think, he already I makes anything is is, I I I the guess, can don’t have really really that what of that are your that we we’re always really to said vertical mean, quarters. think both we’ll again, more only from retailer Mobile have unique Marcel really money better pony, feature being But what a to part of there’s wherever bad company one Marcelo trick the think to that’s when and I in only our mean, on a expand in it’s But I more on I need enough, you I to is than is we this, really we’re I Top-Up, not that are, us said. need hit further a kind money. than being direct-to-consumer. they that less another but to on us competitors come, it, -- every differentiates much see more wholesaler competes think -- being And

Marcelo Fischer

of in direct more would now we of very globally. XX% robust use margin decades, we have structure We in in those edge I comes and Mobile we have for telecom little as thing, in connections us direct space leading know, connection, in Top-Up about that to today, cost more our with our Connor, a that, been just Yeah. aggregators and been I space direct and business. of this therefore because the able And have you add very volumes terms than believe deals gives most mobile and one operators three definitely establish from strong this of done. the almost sales those been significant

Connor Haley

guys. Thanks,

Operator

coming next Research. Hassan The from Okay. is Ansari question [ph] EH from

Your line live. is

Unidentified Analyst

Hey, guys.

kind like, bets kind bigger you do fees Revolution about you leader on seeing how are you you that of just that’s how impacting so, to international all transfer conflict losing Transfer? talking off just zero a BOSS transfer the who Just as that BOSS think wise the a Transfer loss of think -- money in a Top-Up Revolution Money running business, of on question are outside rates, RTGS, Revolution do their percent? take or What going their like are about, some BOSS scale Money and if for Mobile of quick

Samuel Jonas

I them I remark way to on headwinds over mean, mean, don’t will I say I to Money heard time, the that mean, change. referring that. make definitely Transfer or will see think you’re that, the honest, I I be I people money haven’t, that

in IMTU, of intend -- think lot space buy in-country, to products the gateway made that. we that’s money will of the the that’s today. intend same as on on to to banking I foray FX our things view IMTU or on that into don’t other be we it, outside And that more at I money And call all. But that’s launch much own send rather U.S., some be its agree side. to be rather that’s like I spend the a here, just margin of do it the I own see have I is I’ll customers that our you which being can our paid going going than It view as the to also with fee about that happens sent a it beginnings business make also new of than the substantial. you’ll talk with of that the I onto it to like yet. really don’t that feel made, including

Unidentified Analyst

Okay. specifically a that quarters of they’ve of Are -- mentioned couple little bit guess, you one in the more of maybe background. in end more but neobanking, kind lot working maybe of got you background? some quick businesses some just I going about guys the a not market that one, you kind are. you’re working a in on on Thanks. And that we heard some these telecom businesses in same can mostly or on guys end on general just the maybe ago, payments, of are businesses, markets like the, on you’re working on that stuff working banking, color you give the

Samuel Jonas

the working are mean, I I background Yeah. that on we’re in things the to most do. the we related again, would things say, somewhat of already

Unidentified Analyst

Okay.

Samuel Jonas

general. in Fintech payments, Communications,

most could as on for related very simple business and are the communications, go and to the payments about answer side, on, of on again, well So, it. consumer But, like is I mean, I as hours yes, on both the them side.

Unidentified Analyst

Thanks, Awesome. guys.

Operator

is Okay. [ph]. Matthew Urbanky question The next from LIFA coming from

live. is line Your

Unidentified Analyst

Hey, guys.

of segments question looks companies, and lot So telecommunication of lack that given has to pertaining kind a individual a how exposure of business or product their or do like see various the like, these my to scale differentiate space? ability IDT of you growing to is How components segments their service?

Samuel Jonas

one mean, we we not I want continue to our sure don’t I from. of question know. every businesses. where to I’m I elaborate? think, you scale comes can, that But maybe

Unidentified Analyst

business the Sure. services main your specifically Obviously, see of segments. of you growing you’re giving do How kind that I within Obviously, -- products have given competitor think, largest segments. lack you scale? four not or those

Samuel Jonas

great We like -- aren’t we there That we that customer competitor our being think to the hard in our we us you’re opened, going we when that’s makes on that out, have that on and pretty in department products. are some that like but segments office again, both get not have you, out on competitors nine different than to to work businesses the to Yes, for our opinion service we’re real growth consumers. is believe get you. what the like every with person X great give that player of for there’s really like, we tickets focus like, products we hang to better fight Brazil, in you UCaaS or we else, in lots of our try of details. everyone retailers, differentiates all and we and on say, issue IDT We Well, the try that, to I’m I I that, like really day we that that grit. thing I give serve my all in, we’re is Like I in biggest our try focus. our not closed great the to experience law give we to and said, get continued you think they’re And products in. hours like than, scrappy mean, harder, the about some engineering our helped harder biggest UCaaS the customers or us are can the and us really that’s as player, what much phone, guarantee that an day wait a up and going customers achieve I phone going has have, the you’re

Marcelo Fischer

Exactly. Yeah.

those In of for looking each right? that businesses in to add compete we that, the in unique we have very chosen segments. one Just opportunities all have to categories, niche chosen,

in our bodega average of of lot market, provider the out primarily compete -- a have number SMB everything larger case which a we huge is of business, one to distribution in and geographies above we For which growth Similar space and the that of two chosen opportunities, example, see systems player primary with each multi-channel in can the the the have differentiates choosing NRS, into the and we we leveraging netXphone, small, retailer we right where of offering, becoming that in the of dominating network. really one independent with POS medium-sized are case number categories. these we some us

our in When you two not the to the be Our goal the to necessarily level and player, be we markets categories think that that out businesses one voice draws best long international and and of minute the are long use we distance economics we company economics best no probably listed than better do. the minutes the on distance I more is of but niche international player about business choose. being think operator carrier, other

Unidentified Analyst

Awesome.

here. question Second

could how your that space process walk kind made You in behind and hires several growth? us see that you of the thought appear you as just have late, accelerating sales new of to through

Marcelo Fischer

I means to sales mean, going hiring have more more you’re sales. people,

we’re invest that I It’s on that we simple. simple. really very Like, good economics think it’s more. good really returns getting if investment, or

Unidentified Analyst

Awesome. you. Thank

Operator

[Operator Instructions] Your from Immersion. David David, live. Polansky next question your line is coming is from

David Polansky

for XX% talk that impressed with I XXX one I expansion from to mean, just average I that’s month. about XXX business, a terminal Hey, per my quarter. really to guys. want Thanks the NRS. question. I’m mean taking monthly particularly in revenue

that that So you you for like in a growth can -- and I can the you high continue continued drivers level, you think have talk that number just can about do performance?

Samuel Jonas

mean, I performance. believe processing we I we’re business I can the that we that merchant we we near A, mean, do penetration the mean, the continue on But, indefinitely. I mean, the probably -- get I not I that can think yes, -- side mean, really, that we have don’t to. anywhere of

On the of have I side, can get even where advertising we don’t to. the surface scratched we believe

the I just mean from on think very started it nascent, like the everyone that to I like crazy really this will it again business I NRS with. to completely but happy show On going lending this mean, completely -- it’s know same, money Like quarter. we talk about data, to stores past remarkable it’s does I is that be it’s we’re growth nascent. I mean,

mean their one curated need the compete revenue probably, areas these And that get products, can delivery that our of we of them them, can money up when over be first, out things stores we next more them, over more services them. from number services terms I I for services selling we on couple are months. from, services that each we’re from incremental rolling make acquire yes lot we’re will of products of started as think, managing it believe there’s way we that at doing stabilize, the them us, for list revenue of to think and to a which better we we’re we’ll and to amount time for signing the add job In the products we incremental stores driving just revenue are for lots driving but mean, and a bringing do but we store, more I we somewhat everything again, per we and of

Marcelo Fischer

the started this of the the And ability by having merchant hope as POS and they investors, release how that the that to you to streams, the is both Yeah. see growth invest could breakdown our of streams significantly noticed, advertising first services network now data, to as earnings revenue and you will from include that a NRS help benefit have we the existing a to factories, for the given revenue potential have all different that leverage we

David Polansky

disclosure. That’s really the talk could just opportunities I highlighting this I great. day highlight data high sure the all, it’s we little what that other you question. bit guess feel understand a talk, I’m I asset. selling? be? going was So level lucrative that one the a opportunities, is just one, mean, Yeah. so data I if super, I they could little, yeah, you’re data everyone at valuable guess, you mean, super be talk when just appreciates the a you could about to specifically I my how last to like a on NRS? investors don’t Could really within

Samuel Jonas

I and mean to, I’ve high year since pitch to my a like, at or it been a again, a own. on company very it’s had level, two

doing But really what in that there think, is well. people know Gamble, that the would you’re Unilever really, you really the do want stores are. I same & Procter I to if you say, it are

You of to doing in categories each want to your that know how are compared is the them. products

shelves. know products the if the to that sure you make products to the are putting want hire are the on on You those companies that actually shelves

I many the only the convenience more product going to market hole of frankly, and say, market, been out next really real literally know price and bad that’s what’s black should in has a and incentives. be. going to that independent store valuable over to mean, it’s ugly. and our has important coming when -- in significantly You on been happening network complete and larger how They even data them. to their and are is that the packaged XXX chains, goods to time -- the as want moving consumer ever first you company figure able I move what understanding And we valuable. grow a that different good, to any the you there’s to category that on, lower stores and company them we points more the becomes when data are it offer think or become mean larger we give I’m

kind of fulfilling it’s a So grown. the self the based just prophecy way has on business

David Polansky

So individuals to to not data sell a aggregators. you’re able CPG data just companies, third-party

So…

Samuel Jonas

That’s…

David Polansky

… there’s a customers… lot potential of

Samuel Jonas

from who of you’re That’s like call correct. -- a the I there you’re are, aggregators, to shotgun revenue, mean, today buying data, it. a third-party the spectrum, when getting data more probably, source wide our largest much I’ll approach much,

report As information, or the of product. opposed you want. source different exactly that minute any the way the the codes doing like one of to zip tailor half it southern I want mean, gives right to you, getting half it’s when gives you general mean, how to you you’re scrub the and other. want the the it completely be -- to see, city amount just the each it’s versus way versus of want a I one you information buying you really in can city like, most you’re are data to you you in two that absolute western the would next

David Polansky

a box. -- this black said, and you and like So operating, you like are basically,

valuable really nobody data is So this else has aggregated. that

is this intimate… So

Samuel Jonas

Super.

David Polansky

want but… People us,

Samuel Jonas

but CPG, again, sell XXX%, a price. that the is of stuff type a again, this only, I they offer it’s like, fixed can a for mean, data Walmart

if to if ability kind you this see and it $X don’t more -- happen, they’re LC you there’s doesn’t in some that in price it area, that you in have test this able promotion it markets, the and that an our So less to bigger even on they’re learn, not to area give able will they put what do not incentive $X if also in at of, do or chains. or

think to other business besides they’re I really in areas, using that that our area. own their drive

David Polansky

like, great. communities, in what nobody -- else markets, like I That’s eyeballs I in is that meant like, was terms market, And that what of kind that’s has guess bodega that was by I the of asking?

Samuel Jonas

has of sure no somebody I’m systems amount the data that has and but that we one to some the in is there process the eyeballs there’s it do. bodegas, and mean, that I near else anywhere granularity

David Polansky

Thanks, guys. I’ll All over. it Awesome. right. hand

Operator

Okay.

follow Hassan a have your Ansari EH up We line is live. Hassan from from Research.

Unidentified Analyst

Hey, guys.

to about. and wanted Just on up David follow in line something hop back asked

you’re these an their like NRS actually then, when B, uplift? deploying really you’re stores that you working, terminals, of that’s stores of have magnitude A, little the for revenues revenue like direction you bit are seeing on any own and a get You the what’s how idea Can just, if mentioned, that terminals? the deploying explain uplift these

Samuel Jonas

them Again, see it retailers the business But our speaking, we magnitude, carrying, really out. we their is only tool, have is what as levels to person tool I deploying et like, retailer-to-retailer. how items management that on lot seen a items, is And we frankly, don’t profit see cetera. good the from gross XX give tools XX% that And break after increases have mean, varies stock business are it to their what XXX% in system. is to doing the it. like are, their area on the which their out in the again, using not of any et who cetera, as their top they’re

So, you love calls might use and to don’t phone. then flip an it phone you iPhone and a if -- make could only have you

really On iPhone your like a probably makes tool. the computer, everything do your desktop other do hand, that you can it you from which powerful from can

so they very benefit the depends categories doing these processing them merchant see from give obviously both seeing them -- low closing that, they selling think for drive because intelligent what need they’re are tools really an sales hour is, see drives going business. they retailer, are they’re use let been to advertising they that retailers their those our the fee, benefit we drive be lets from very simple hours, make themselves and their choices really of doing busiest should from earlier should the an they’re a earlier credit of and it card the products. We that data to that maybe they’re it. them to in them those for itself in fact before stores stores I their than in much business of they’re hour which how fact products to opening sales. decisions again, and each people of be had it So -- than sales. in The all more and for on a tell The than But how their or that out those the more almost figure on makes types close

Unidentified Analyst

Okay.

payments start per imagine, us in to think just So that like you wrapped like It’s a the just like, miss about, deploy of little directionally But could I and tool return your these of like you’ve terminal a the you a fees, it filings. coming guys through like stores? deploying in topline, thinking not I about terminal, you’ve business a interesting. you of to walk because at in if more lot guide of single like like a sure directionally like, the us but like, as payment that’s got how makes -- into if processing deploy. a economics the got messy, intelligence data, gets system. I’m bit you cost some little

Samuel Jonas

question mean, up the I similar we that ARPU broke a this quarter. of Well, sort per I terminal we think, got with earlier

on to I of good to a that believe going as see are I said, time. ARPU that for period you significant improvement again, So, continue

of That of I been I same it our I think low. we’ve said, that expands but don’t at the I still I rate doing think, think, as could stores penetration in it As don’t very that, like, being I do services forever, all is said, reality. the that’s wish I said,

an And one, just So see businesses adding massive like, is you’re improvement and and The does -- of get I is a give frankly is The from the for The customers many I’m and you all onto you one that I that It’s cost XX again, times do. just deal we data mean, major onto the I going this XX much the going to general. and fancier, penetration sells everything any some to that but I’ll in probably, are one better software that we experience is business, really and else. POS onto besides times business a unto payments all lots and company itself. of so the things product but itself. as core degree, a on to of NRS business times is mean user one an POS mean, price, X The The great a great basis. XX say, in is lots -- for we features, store funding business our as to probably also one onto one it’s independent upfront, in it’s business we business different probably itself. monthly delivery e-commerce service amazing is that can equivalents, itself. the itself. essentially, speaking, SAP to much this times product.

Unidentified Analyst

one And just more hop again. back line I’ll in Awesome. before quick one maybe

Samuel Jonas

Okay.

Unidentified Analyst

and and How you a over on? land a successful POS terminal using months only the more you through some you’re they’re then to that other and monetize the do like starting are just services it’s catch the of like starting to customers few finding -- ability it’s it have year, to So starting a now coming are almost you’re or to with like customers. of the them like, like your expand the many for that, thing sounds

Samuel Jonas

not lot our a results a products couple huge. be in starts of we mean, like, going till that it’s already really By I the new see think but to same those improve that a of there’s ball quarters, I you’re a, rolling time where for point mean, both. they’re things always to to I going and they quickly. take introduced the also token, barely

Unidentified Analyst

Thanks, Awesome. Okay. guys. Awesome.

Operator

Okay.

from We Jackel, have Jackel [ph], a live. King your coming question Private Investor. is line

Unidentified Analyst

Hello. Hello.

Samuel Jonas

Yeah.

here. You’re hear We you.

You hear us?

Unidentified Analyst

just about regular the the Yeah. Yeah. had question could monthly and -- term and talk you Pay the tell us revenue between at more revenue terminal. a you regular Could Yeah. -- I average all? a the NRS then average for the difference

Samuel Jonas

terminal But pricing our easy We the our and the we for very processing mean, all right to don’t again, simple our nrsplus.com there. very, break it charge and for we as charge to the price service, well is find. Go price specifically. is up merchant I that and as

Unidentified Analyst

of new Pay, and Okay. new And two? for the the seems question NRS -- terminal XXX from I it then order you NRS it because like mainly penetration XXX about from NRS this more NRS just you was that mix Pay Was quarter terminals have another or it terminal. have of would Pay a

Samuel Jonas

are NRS question, about Pay. two-thirds taking I’m not new XXX% your of understand but sure I terminals the

Unidentified Analyst

my Yeah. was That question. Yeah.

mix. was it So

Okay.

Okay. Thank you.

Operator

conclude… This

Samuel Jonas

Well…

Operator

conference today’s call. and …our presentation. attending for you question-and-answer Thank session

disconnect. now may You

IDT (IDT) 7 Oct 212021 Q4 Earnings call transcript