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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.
Access timely press releases and verified news covering earnings announcements, technology launches, strategic partnerships, and regulatory milestones. Our curated collection simplifies tracking IQST's progress in key sectors including global telecom infrastructure, blockchain-based financial services, and AI-driven cybersecurity solutions.
Discover updates on iQSTEL's expansion through strategic acquisitions, Nasdaq uplisting preparations, and emerging mobility technologies. The repository serves as a reliable resource for understanding the company's approach to operational consolidation and international market penetration.
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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.
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