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iQSTEL Inc. (IQST) is a multinational innovator in telecommunications, fintech, and AI solutions, driving connectivity and digital transformation worldwide. This dedicated news hub provides investors and industry observers with essential updates on the company's strategic initiatives and market developments.
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IQSTEL Inc. (IQST) has announced its uplisting from OTCQX to the NASDAQ Capital Market, with trading set to commence on May 14th, 2025, under the ticker symbol IQST. The company has evolved from a telecom operator to a global technology enterprise since its 2018 inception, growing from initial revenue of $13.8 million to setting an ambitious target of $1 billion in annual revenue by 2027.
This NASDAQ uplisting represents a strategic milestone that aims to enhance investor visibility, provide access to institutional capital, and facilitate the company's growth trajectory through improved valuation alignment with peers and increased capability for strategic acquisitions.
IQSTEL Inc. (OTC QX: IQST) reported strong financial performance in 2024 with revenue of $283.2 million, representing a 95.9% year-over-year increase. The company achieved $1.40 revenue per share and expanded its asset base to $79 million, a 257% increase. Stockholders' equity rose to $11.9 million, up 48% year-over-year.
The company announced two strategic moves: an MOU to acquire a 51% stake in GlobeTopper, expected to push revenue toward a $400 million run rate, and an agreement to sell ItsBchain subsidiary with plans to distribute $500,000 worth of ASII shares to shareholders. IQSTEL maintains its target of reaching $1 billion in revenue by 2027, focusing on telecommunications, fintech, cybersecurity, and AI services.
For 2025, IQSTEL forecasts $340 million in revenue, with potential to reach $400 million run rate if the GlobeTopper acquisition completes. The company's Telecom Division generated $2.5 million in adjusted EBITDA and $1.7 million in Net Income in 2024.
IQSTEL (OTCQX: IQST) has reported remarkable financial results for 2024, achieving $283.2 million in revenue, representing a 95.9% year-over-year increase from $144.5 million in 2023. The company's total assets surged by 257% to $79.0 million, up from $22.2 million in 2023.
Key financial highlights include:
- Revenue per share increased 66.67% to $1.40
- Operating subsidiaries achieved $2.5 million in Adjusted EBITDA
- Stockholder equity grew 48% to $11.9 million
- Organic growth reached 36.46% ($52.7 million)
The QXTEL acquisition has been transformational, with $4.2 million already paid and $1.8 million remaining to be paid in 2025. For 2025, IQSTEL targets $340 million in revenue and expects operating businesses to exceed $3 million in Adjusted EBITDA. The company aims to implement cost-saving initiatives targeting $1 million in annual savings while expanding into high-margin technology services.