IQST – iQSTEL Revenue Increased 30% In August Totaling $41.23 Million YTD

Rhea-AI Summary

iQSTEL, Inc. (OTCQB: IQST) reported August 2021 revenues of $5.7 million, a 30% increase from August 2020, marking five consecutive months exceeding $5 million. The year-to-date revenue totals $41.23 million, positioning the company to potentially surpass its $60.5 million revenue forecast for 2021 if the current pace continues over the next four months. iQSTEL operates in telecommunications, technology, and fintech across 15 countries, offering services including VoIP, EV solutions, and blockchain technology.

Positive

• Achieved $5.7 million in revenue for August 2021, 30% higher than August 2020.
• YTD revenue reached $41.23 million after 8 months.
• Exceeded $5 million in revenue for five consecutive months.
• Potential to surpass $60.5 million revenue forecast for 2021.

Negative

• None.

New York, NY, Sept. 13, 2021 (GLOBE NEWSWIRE) -- iQSTEL, Inc. (OTCQB: IQST) today announced achieving $5.7 Million in revenue for the month of August based on preliminary accounting. The August 2021 revenue exceeds the August 2020 revenue by 30%. The company has exceeded $5 million in revenue now for FIVE consecutive months.

The YTD revenue as of August 31st (8 Months) is $41.23 Million.  Provided the company maintains the current revenue pace over the next four months, IQSTEL can surpass its $60.5 million 2021 revenue forecast.

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 was iQST's revenue for August 2021?

iQSTEL reported revenue of $5.7 million for August 2021.

How much did iQST's revenue increase compared to August 2020?

iQST's revenue for August 2021 increased by 30% compared to August 2020.

What is iQST's year-to-date revenue as of August 31, 2021?

As of August 31, 2021, iQSTEL's year-to-date revenue is $41.23 million.

How many months has iQST exceeded $5 million in revenue?

iQST has exceeded $5 million in revenue for five consecutive months.

Can iQSTEL surpass its 2021 revenue forecast?

If current revenue trends continue, iQSTEL could surpass its $60.5 million forecast for 2021.