IQST – iQSTEL Announces $29.7 Million YTD Preliminary Revenue Results Well On Track To Meet Or Exceed $60.5 Million 2021 Forecast

Rhea-AI Summary

iQSTEL, Inc. (OTCQB: IQST) reported preliminary Q2 2021 revenues of $15.5 million, outperforming the $5 million monthly average. Total revenue for the first half of 2021 reached $29.7 million, positioning the company on track to surpass its $60.5 million revenue forecast for the year. CEO Leandro Iglesias emphasized growth expectations in the second half of the year, citing upcoming initiatives such as MNPA, MAXMO, and IoTSmartTank that could enhance revenues and EBITDA.

Positive

• Achieved $15.5 million in Q2 2021 revenue.
• Total revenue for the first six months reached $29.7 million.
• On track to exceed $60.5 million revenue forecast for 2021.
• Strong growth expected in the second half of the year.

Negative

• None.

New York, NY, July 19, 2021 (GLOBE NEWSWIRE) -- iQSTEL, Inc. (OTCQB: IQST) today announced achieving $15.5 million in revenue for Q2 2021, based on preliminary accounting results.  The company exceeded $5 million in revenue each month of Q2.  Management reports that iQSTEL is well on its way to meet or exceed its 2021 $60.5 million revenue forecast.

In a recent shareholder letter, Leandro Jose Iglesias stated, "Our goal is not only to reach our revenue forecast of $60.5 Million, but to surpass it".

Year to date (YTD) revenue for the first six months of 2021, based on preliminary accounting results, totals $29.7 million illustrating the company’s "Passion for Execution".

Leandro Iglesias commented: "We are halfway through the year, and historically we have grown more in the second half of the year than in the first half. We are really excited about all of iQSTEL’s initiatives to include, MNPA, MAXMO, and IoTSmartTank – all of which are very close to beginning to make top and bottom line contributions, adding revenues with high EBITDA.

iQSTEL Inc (OTCQB: IQST) (www.iQSTEL.com) is a US-based publicly-listed company with an Independent Board of Directors offering leading-edge Telecommunication, Technology and Fintech Services for Global Markets, with presence in 15 countries.  The company provides services to the Telecommunications, Electric Vehicle (EV), Financial Services, Chemical and Liquid Fuel Distribution Industries. iQSTEL has 5 Business Divisions: Telecom, Electric Vehicle (EV), Fintech, Technology and Blockchain, with worldwide B2B and B2C customer relations operating through its subsidiaries: Etelix, SwissLink, QGlobal SMS, SMSDirectos, Global Money One, IoT Labs and itsBchain. The Company has an extensive portfolio of products and services for its clients: SMS, VoIP, international fiber-optic connectivity for 5G, Cloud-PBX, OmniChannel Marketing, EV Batteries, EV Chargers, EV Battery Management System, EV IoT Connectivity, Mobile App For EV Connectivity, EV Dashboard Display, Visa/Mastercard Debit Card, Cryptocurrency Exchange Services, Money Remittance, Mobile Top Up, IoT Smart Gas Platform, IoT Smart Tank Platform, Mobile Number Portability Application MNPA (Blockchain Platform) and Settlement & Payments Marketplace SPM (Blockchain Platform).

Safe Harbor Statement: Statements in this news release may be "forward-looking statements". Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions or any other statements relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and are likely to, differ materially from what is expressed or forecasted in forward-looking statements due to numerous factors. Any forward-looking statements speak only as of the date of this news release and iQSTEL Inc. undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this news release.

iQSTEL Inc.

IR US Phone: 646-740-0907, IR Email: investors@iqstel.com

Source: iQSTEL Inc. and its subsidiaries: www.iqstel.com 

FAQ

What were iQST's revenue figures for Q2 2021?

iQST reported preliminary revenues of $15.5 million for Q2 2021.

How much revenue did iQST achieve in the first half of 2021?

iQST's total revenue for the first six months of 2021 was $29.7 million.

Is iQST on track to meet its 2021 revenue forecast?

Yes, iQST is on track to meet or exceed its $60.5 million revenue forecast for 2021.

What growth does iQST expect in the second half of 2021?

iQST anticipates stronger growth in the second half of the year compared to the first half.

Which initiatives are expected to boost iQST's revenue?

Upcoming initiatives include MNPA, MAXMO, and IoTSmartTank, all expected to enhance revenues.