KONATEL INC - KTEL STOCK NEWS

KonaTel, Inc. (OTCQB: KTEL) reported a 37.1% revenue increase to $12.8 million for the fiscal year 2021, with a gross profit of $5.7 million, reflecting a 44.6% gross profit margin. The company achieved a GAAP net income of $623,000, or $0.01 per share, contrasting with a loss in the previous year. Notable growth was seen in Mobile Services, which surged 74.6%. Anticipating reduced amortization expenses and leveraging cash flow, KonaTel aims for continued profitability and potential Nasdaq uplisting.

KonaTel, Inc. (OTCQB: KTEL) has appointed Chuck Griffin as President and Chief Operating Officer effective January 1, 2022. With extensive experience in the telecom sector, Griffin aims to enhance company operations and drive growth, particularly in response to the Infrastructure Investment and Jobs Act, which increases KonaTel's addressable market. Previously, he led Lingo Communications and Impact Telecom, achieving significant revenue milestones and successful mergers. Griffin's leadership is anticipated to bring added value to customers and shareholders as the company seeks to capture government-funded opportunities in communications infrastructure.

KonaTel, Inc. (OTCQB: KTEL) reported third-quarter revenues of $3.6 million, a 43% increase year-over-year, and a gross profit of $1.6 million, up 80%. The company achieved an operating income of $372,000 compared to a loss of $56,000 last year, with net income at $320,000 or $0.01 per share. Year-to-date, revenues rose 32% to $8.9 million. The recent passing of the Infrastructure Bill may expand KonaTel's market, supporting future growth initiatives.

KonaTel, Inc. (OTCQB: KTEL) reported significant financial growth for Q2 2021. Revenues reached $2.9 million, a 29% increase year-over-year, while gross profit surged 64% to $1.4 million. The company achieved an operating income of $381,000, compared to a loss in the prior year, and net income of $341,000, equating to $0.01 per share. Year-to-date revenues rose to $5.3 million. Recent regulatory approvals will bolster growth opportunities in subsidized cellular services, enhancing revenue stability.

KonaTel, Inc. (OTCMKTS: KTEL) announced that its subsidiary, Infiniti Mobile, has been approved by the California Public Utilities Commission to provide cellular services under the FCC's LifeLine program. This approval will allow Infiniti Mobile to serve nearly two million eligible households in California, particularly benefiting underserved rural communities. The company, with a background in subsidized telecommunications, aims to expand its market reach and improve access to vital communication services for low-income families.

KonaTel (OTCQB: KTEL) announced its participation in the Little Grapevine virtual conference on June 3, 2021. The conference features an executive video presentation by Sean McEwen, the company's Chairman, President & CEO, who also engages in a Q&A session addressing investor queries. KonaTel, primarily offering telecommunications services to small and mid-sized businesses, operates through its subsidiary Apeiron Systems, which provides a comprehensive cloud communications platform. For more details, visit www.konatel.com.

KonaTel, Inc. (KTEL) reported a 22% increase in revenues to $2.4 million for Q1 2021 compared to the prior year, driven by strong growth in both Hosted and Mobile Services. However, the company posted a net loss of $233,000 or $(0.01) per share, a downturn from a net income of $101,000 in Q1 2020. Gross profit rose to $911,000, with a slight decline in profit margin from 39.1% to 38.1%. The increase in operating expenses by 19.5% to $1.1 million is attributed to internal infrastructure enhancements. KonaTel's subsidiary received FCC approval for the Emergency Broadband Benefit Program.

KonaTel, Inc. (OTCQB: KTEL) announced that its subsidiary, Infiniti Mobile, has been approved as a provider for the FCC's Emergency Broadband Benefit (EBB) program. This initiative aims to provide discounted broadband services to low-income families affected by the COVID-19 pandemic. The EBB program, which opened for enrollment on May 12, 2021, allocates $3.2 billion for this purpose. Infiniti Mobile, already licensed under the FCC's Lifeline program, can now enhance wireless LTE data solutions, bridging the digital divide for millions in need.

KonaTel, Inc. (OTCMKTS: KTEL) reported revenues of $9.35 million for the fiscal year ended December 31, 2020, a 2.0% increase from the previous year, driven by strong growth in its Hosted Services. The company achieved a net income of $238,618 or $0.01 per share, a turnaround from a net loss of $(1,584,904). Gross profit rose by 23.2%, significantly benefiting from the hosted services segment, which experienced over 84% growth. KonaTel increased its cash reserves by 103% and successfully uplisted to the OTCQB market.