ITXC reported quarterly revenue of $81.7 million for Q1 2003, an increase of 42% from the same quarter of 2002 and a sequential increase of 9.6% from Q4 2002. Of the revenues reported for the quarter, approximately $8.7 million relates to amounts from Interactive Marketing Technologies, Inc., which may not be collectible. Including a $8.7 reserve for these potentially uncollectible bills, there was a net loss of $17.7 million, compared to a net loss for Q4 2002 of $19.2 million and a net loss for Q1 2002 of $6.5 million.
- VoIP minutes of use grew in Q1 2003 to 884 million, up from 658 million minutes in the first quarter a year ago and 847 million minutes in Q4 2002.
- Revenue per minute increased from 8.8 cents in the Q4 2002 to 9.2 cents in the first quarter of 2003.
- ITXC traffic on Easter Sunday, traditionally a high day, set a new Sunday record of approximately 14.5 million minutes, 45% higher than the approximately 10 million minutes carried last Easter. This was the second highest traffic day in ITXC history with traffic just a few hundred thousand minutes less than that carried on Christmas Day 2002.
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