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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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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 has announced a revised revenue forecast for FY-2024, projecting $290 million, a 100% increase from FY-2023's $144.5 million. The growth is driven by organic expansion and the recent QXTEL acquisition, excluding potential contributions from the pending Lynk Telecom acquisition. The company reported $54 million in revenue for April and May 2024, surpassing the $51.4 million earned in Q1 FY-2024. iQSTEL emphasizes organic growth as a major factor, with previous years' growth at approximately 44% and 55% in 2022 and 2023, respectively. The gross profit forecast for FY-2024 is set at $7.5 million, up from $4.6 million in FY-2023. iQSTEL is also aiming for a seven-digit positive operating income and highlights the potential for further bottom-line benefits in subsequent years as operational efficiencies materialize.
iQSTEL announced a 108% revenue increase in Q1 FY-2024 to $51.4 million compared to Q1 FY-2023. This growth is fully organic and does not include contributions from recent acquisitions QXTEL and LYNK.
However, the company reported a net loss of $580,216 primarily due to increased expenses related to acquisition transactions and Nasdaq up-listing initiatives. Professional and technological services expenses also rose due to Smartbiz's migration to the VAMP platform.
The Telecom Division, a key revenue generator, posted a positive operating income of $484,624 for Q1 FY-2024. The company's working capital improved to $2,135,095 as of March 31, 2024. Management expects continued growth and plans to hit a quarter-billion-dollar revenue in FY-2024.
iQSTEL Inc. announced the acquisition of a 51% stake in Lynk Telecom, expected to add $20M in revenue and $1M in net income annually. The deal aims to strengthen iQSTEL's US market presence and expand its telecom services, with a projected operating net income increase of over a million dollars by next year.
iQSTEL Inc. revealed $27 million in revenue for April, potentially reaching over $250 million for FY 2024. The company is a US-based, publicly listed telecom and tech firm eyeing a Nasdaq up-listing.
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