Welcome to our dedicated page for Iqstel news (Ticker: IQST), a resource for investors and traders seeking the latest updates and insights on Iqstel stock.
IQSTEL Inc. reports developments across its global telecommunications and technology platform, including telecom operator relationships, fintech services, AI-powered communications, cybersecurity initiatives and digital-service expansion. Company updates frequently address financial results, margin and EBITDA priorities, platform consolidation, shareholder communications and investor presentations.
Recurring IQST news also covers product and strategy announcements such as the IQCortex AI orchestration platform, efforts to commercialize higher-margin technology services through telecom channels, and capital-structure actions tied to common stock, preferred stock and shareholder distributions.
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iQSTEL Inc. (OTCQX: IQST) announced a Q1 2023 revenue of $22.9 million, marking an 18% increase year-over-year. The company's gross profit reached approximately $780,000, a 36% growth compared to Q1 2022. Full-year 2022 revenue was $93.2 million, a 44% increase from 2021, with a gross profit of nearly $1.8 million. Q1 2023's gross profit already represents 43% of the gross profit reported for the entire year in 2022. CEO Leandro Iglesias expressed confidence in meeting or exceeding the $105 million revenue forecast for 2023, citing improved profit margins and operational efficiency. The company has completed 10 acquisitions since June 2018 and is preparing for a Nasdaq up-listing.
iQSTEL Inc. (OTCQX: IQST) has addressed shareholders in a letter detailing its financial results for the year ending December 31, 2022. The company reported a revenue increase of 44% over the past two years, reaching $93.2 million in 2022, with a projected $105 million for 2023. Gross profit also grew by 16.81%. While total liabilities increased, key financial ratios indicated stability, with a current ratio of 1.00. Operating expenses dropped significantly from 6.98% of revenue in 2021 to 5.35% in 2022. Despite a net loss of $6.7 million, management remains optimistic about achieving positive operating income in 2023, backed by their history of acquisitions, which have enhanced company value. iQSTEL aims for a Nasdaq uplisting and continues to focus on its mission of addressing fundamental human needs through telecommunications and other services.
iQSTEL Inc. (OTCQX: IQST) has announced plans to file an extension for its 2022 Annual Report and audited financial statement, allowing more time for review due to significant growth. Revenue is projected to rise from $13.7 million in 2018 to $93 million in 2022, fueled by both organic expansion and acquisitions. The report will consolidate results from nine operations, including new acquisitions. The company aims to meet Nasdaq up-listing standards by enhancing disclosure practices. CEO Leandro Iglesias reassures shareholders of the continued commitment to delivering strong results in the coming years.
iQSTEL Inc. (OTC-PINK: IQST) has launched the TuVolten 550 Elite, an advanced electric motorcycle, combining previous designs into a powerful new model. With a 5KW motor, it achieves speeds of 70 MPH and a range of approximately 125 miles per charge. Enhanced features include regenerative braking for increased range and several customization options. The TuVolten 550 Elite is close to completing its E-Mark certification, initiated in December 2022, with upcoming shipments to Spain for street testing. Management anticipates generating revenues and positive operating income in FY-2023.
iQSTEL Inc. (OTCQX: IQST) announced on March 27, 2023, that its Independent Board of Directors has tasked management with combating naked short selling. The management is negotiating with a specialized firm known for addressing such issues. Recent data indicates that short selling has exceeded 50% of iQST's daily trading volume on multiple occasions. CEO Leandro Iglesias highlighted shareholder concerns regarding the share price being impacted by naked short selling. The company aims to identify specific bad actors and take legal action if necessary. iQSTEL is preparing for a Nasdaq up-listing with a forecasted $105 million in revenue for FY2023.
iQSTEL Inc. has announced a Joint Venture (JV) with GOTMY to develop a white label metaverse solution aimed at telecom customers. This venture taps into the rapidly growing metaverse market, currently valued at $61.8 billion, projected to reach $426.9 billion by 2027. iQSTEL, which generates over $90 million in annual revenue from telecom services, aims to expand its offerings to include immersive customer experiences through this solution. The new iQSTEL Metaverse division will be led by CEO Jose Enrique Puente, focusing on launching the metaverse platform in the coming quarter, potentially boosting iQSTEL's projected $105 million in revenue.
iQSTEL, Inc. (OTCQX: IQST) announced that its Independent Board of Directors approved the 2023 business plans ahead of the annual shareholder meeting on January 31, 2023. CEO Leandro Iglesias highlighted a record operational performance in 2022 despite economic challenges. The FY-2022 revenue is estimated at $93 million, exceeding forecasts and showing a 47% increase over 2021. The company detailed several achievements across its Telecom, Fintech, Blockchain, and Electric Vehicle divisions, with a revenue forecast of $105 million and a projected positive net income for FY-2023. Shareholders can now cast proxy votes ahead of the meeting.
iQSTEL, Inc. (OTCQX: IQST) has announced that shareholders can now cast proxy votes ahead of the annual meeting set for January 31, 2023. Instructions for voting online or by mail have been sent to shareholders via email and printed proxy cards. The Proxy Statement includes items for electing directors and ratifying the accounting firm. CEO Leandro Iglesias expressed satisfaction with 2022's performance, noting a forecast of $90 million in revenue and a potential Nasdaq up-listing in 2023. iQSTEL aims to involve shareholders in the meeting by inviting them to propose additional business matters.