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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) completes the acquisition of 51% of QXTEL , adding $20 million in revenue per quarter, $1 million in Gross Profit, and increasing Operating Income by over $400 thousand per quarter. The acquisition boosts total assets by 54% to approximately $39 million, elevating Stockholder's net equity by 15%. IQSTEL's post-acquisition net equity now doubles the minimum requirement for Nasdaq listing. The company aims to achieve an Operating Income of $0.5 million per quarter by the end of the year, with a vision of becoming a Billion Dollar Revenue Company. Both IQSTEL and QXTEL management teams remain in their roles, ensuring seamless continuity in operations.
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iQSTEL Inc. (IQST) reports impressive financial growth in FY-2023 with $144.5 million in revenue, a 55% increase over the previous year. The company achieved positive net income for the last two quarters and significant increases in gross profit, total assets, and stockholders equity. CEO Leandro Iglesias highlights the organic growth and positive trends, aiming for continued success in FY-2024.
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iQSTEL Inc. achieves a new record high quarterly revenue of $46 million in Q1-2024, marking the third consecutive revenue record-breaking quarter. YTD gross margin surpasses the previous year's total, showcasing strong financial performance.
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iQSTEL Inc. reports YTD revenue of $33 million, with a rising gross margin. The company anticipates closing the QXTEL acquisition on April 1st, aiming to become a quarter of a billion dollar revenue company.
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iQSTEL Inc. CEO Leandro Iglesias updates shareholders on the progress after acquiring QXTEL, reaching $17 million in revenue in January. The combined management teams are working together efficiently, identifying new business opportunities. The company is securing bridge financing for the acquisition and planning further strategic growth through an S-1 Registration Statement and stock options for potential acquisitions in 2024.
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iQSTEL Inc. announced the publication of a Pro Forma financial statement on SEC Form 8K/A in relation to the acquisition of QXTEL, resulting in an annual revenue of a quarter billion. The Super 8K represents the combination of financial results of iQSTEL and QXTEL from January 1, 2023, through September 30, 2023, showing significant increases in total assets, stockholders' equity, net revenues, and gross profit. QXTEL contributed $0.98 million in Operating Income and $0.78 million in Net Income over the 9 months. The CEO expects 2024 to be the company's best year financially, with $17 million in revenue for January 2024 before QXTEL's contribution.
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iQSTEL Inc. announced a revenue of $17 million for January 2024, with an increase in gross profit compared to December. The company anticipates a remarkable year ahead, especially after the recent acquisition of QXTEL, which is expected to boost its annual revenue to a quarter billion. Additionally, iQSTEL has achieved positive operating income in Q3 2023, with a steady increase in gross margin since then.
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iQSTEL Inc. released a letter to shareholders from CEO Leandro Iglesias following the acquisition of QXTEL. The acquisition, expected to be executed in 60 days, will result in iQSTEL acquiring 51% of QXTEL's capital stock. The deal is expected to nearly double iQSTEL's annual revenue, with QXTEL bringing in new customers, improved operating margins, and executive talent. The acquisition will also increase iQSTEL's revenue per share by 75%. QXTEL's global presence and top telecommunication executive talent are highlighted as key benefits. The leadership of both companies shares the vision of becoming one of the 10 largest wholesale telecommunication service providers in the world.
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iQSTEL Inc. (IQST) has announced an agreement to acquire 51% of QXTEL LTD., a London-based Telecommunications Services Provider, adding QXTEL to its Telecom Division. The addition of QXTEL is expected to add over $80 million in annual revenue, with combined sales projected to reach $250 million annually. iQSTEL achieved a consolidated positive operating income in Q3 of 2023, ahead of forecast, and expects the addition of QXTEL to further boost its Telecom Division to forecast $3 million of positive operating income annually. The founders and management of QXTEL share iQSTEL's vision to become one of the major international wholesale telecommunications operators, providing voice, messaging, and enhanced value-added services. The acquisition is expected to put the combined company in the select list of top operators. The companies expect to finalize and close the acquisition agreement within the next 60 days, with additional details to be released before the IQSTEL shareholders meeting.
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iQSTEL Inc. (IQST) reports a 50% revenue growth to $140 million in 2023, delivering $0.81 per share compared to $0.57 per share in 2022. The company's gross margin increased in Q4-2023, with operating income turning positive ahead of schedule in Q3-2023. Management anticipates continued rapid growth in revenue and margins in 2024.
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