IDT CORP Goodwill & Intangibles Disclosure
Note 11—Other Intangible Assets
The table below presents information on the Company’s amortized intangible assets:
| (in thousands) | Weighted Average Amortization Period | Gross Carrying Amount | Accumulated Amortization | Net Balance | ||||||||||
| July 31, 2025 | ||||||||||||||
| Tradenames | 14.6 years | $ | 1,391 | $ | (585 | ) | $ | 806 | ||||||
| Non-compete agreements | 6.0 years | 660 | (376 | ) | 284 | |||||||||
| Customer relationships | 9.9 years | 8,220 | (4,254 | ) | 3,966 | |||||||||
| TOTAL | 10.3 years | $ | 10,271 | $ | (5,215 | ) | $ | 5,056 | ||||||
| July 31, 2024 | ||||||||||||||
| Tradenames | 14.5 years | $ | 1,400 | $ | (445 | ) | $ | 955 | ||||||
| Non-compete agreements | 6.0 years | 660 | (266 | ) | 394 | |||||||||
| Customer relationships | 7.5 years | 11,377 | (6,441 | ) | 4,936 | |||||||||
| TOTAL | 8.1 years | $ | 13,437 | $ | (7,152 | ) | $ | 6,285 | ||||||
In March 2024, the Company completed a portion of the integration of the Leaf Wallet platform into the BOSS Money app, including replacing the Leaf tradename with BOSS Money. The Leaf tradename balance of $0.1 million was written-off in fiscal 2024.
Amortization expense of intangible assets was $1.5 million, $1.3 million, and $1.5 million in fiscal 2025, fiscal 2024, and fiscal 2023, respectively. The Company estimates that amortization expense of intangible assets with finite lives will be $1.2 million, $1.1 million, $1.0 million, $0.5 million, and $0.2 million in fiscal 2026, fiscal 2027, fiscal 2028, fiscal 2029, and fiscal 2030, respectively.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Sep 29, 2025 | Showing above |
| 2024 | Oct 15, 2024 | |
| 2023 | Oct 16, 2023 | |
| 2022 | Oct 14, 2022 | |
| 2021 | Oct 14, 2021 | |
| 2020 | Oct 14, 2020 | |
| 2019 | Oct 11, 2019 | |
| 2018 | Oct 15, 2018 | |
| 2017 | Oct 16, 2017 | |
| 2016 | Oct 14, 2016 | |
| 2015 | Oct 14, 2015 | |
About Goodwill & Intangibles Disclosures
Goodwill and intangible asset disclosures reveal the premium paid in acquisitions and how management assesses whether that premium retains its value. Since goodwill is no longer amortized under US GAAP, the annual impairment test is the only mechanism that adjusts carrying values downward — making the assumptions behind that test critically important for investors.
Key signals: a history of goodwill impairments suggests management consistently overpays for acquisitions. Watch the gap between reporting unit fair value and carrying amount — when fair value exceeds carrying amount by less than 10-20%, a small decline in business performance could trigger a write-down. For finite-lived intangibles, examine useful life assumptions across customer relationships, technology, and trade names; aggressive estimates inflate near-term earnings. Compare total intangibles-to-total-assets ratios against peers to assess acquisition dependency. Rising goodwill as a percentage of equity can signal balance sheet fragility.