iQSTEL Inc IQST
consolidated company) is a technology company with operations in 20 countries (Argentina, Armenia, Austria, Canada, Colombia, Germany,
Greece, Guatemala, India, Italy, Pakistan, Romania, Serbia, Spain, Switzerland, Turkey, UAE, UK, USA and Venezuela) and over 100 employees
that offers leading-edge services through its subsidiaries in the telecommunications, fintech, and AI-enhanced industries. Our global
presence includes offices in USA, Argentina, UK, Switzerland, Turkey, and Dubai, and we target diverse and high-growth markets. We maintain
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $316.9M | $283.2M | $144.5M | $93.2M | $64.7M | $64.7M | $18.0M | $13.8M | $7.5M | $0 |
| Cost of revenue | $307.4M | $274.9M | $139.8M | $91.4M | $63.2M | $63.2M | $17.3M | $12.6M | $6.9M | $0 |
| Gross profit | $9.5M | $8.3M | $4.7M | $1.8M | $1.5M | $1.5M | $780.9K | $1.2M | $618.0K | $0 |
| SG&A | $11.5M | $9.1M | $5.0M | $5.0M | $4.5M | $4.5M | $1.4M | $1.2M | $692.1K | — |
| Total operating expenses | $13.7M | $9.1M | $5.0M | $5.0M | $4.5M | $4.5M | $1.4M | $1.2M | $692.1K | $174.9K |
| Operating income | -$4.3M | -$834.1K | -$315.5K | -$3.2M | -$3.0M | -$3.0M | -$668.7K | -$27.9K | -$74.0K | $245.0K |
| Interest expense | — | — | — | — | — | $3.5M | $2.7M | $460.2K | $120.3K | $26.0K |
| Pre-tax income | -$8.4M | -$4.8M | -$219.4K | -$5.9M | -$3.9M | -$3.9M | -$5.4M | -$2.1M | -$355.7K | -$245.0K |
| Income tax | $121.7K | $394.0K | — | — | — | $152 | $0 | $0 | $0 | $0 |
| Net income | -$8.5M | -$5.2M | -$763.3K | -$6.0M | -$3.8M | -$3.8M | -$5.5M | -$2.1M | -$355.7K | -$245.0K |
| EPS, diluted | -2.86 | -2.86 | -0.01 | -0.04 | -0.03 | -0.03 | -0.35 | -0.15 | -0.03 | 0.00 |
| Shares, diluted (wtd. avg.) | — | — | — | $151.9M | — | $135.4M | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $2.2M | $2.5M | $1.4M | $1.3M | $3.3M | $3.3M | $753.3K | $4.6K | $23.3K | $17.9K |
| Receivables | $30.3M | $57.2M | $12.5M | $4.2M | $2.5M | $2.5M | $2.8M | $1.8M | $1.1M | $0 |
| Inventory | $30.7K | $30.7K | $27.1K | $26.1K | — | — | — | — | $0 | $9.2K |
| Total current assets | $36.2M | $63.0M | $15.7M | $6.4M | $6.6M | $3.6M | $3.4M | $2.1M | $1.3M | $36.8K |
| Property, plant and equipment | $615.0K | $561.8K | $523.0K | $401.0K | $409.4K | $350.5K | — | — | — | — |
| Goodwill | $5.8M | $6.8M | $5.2M | $5.2M | $1.5M | $1.5M | $81.8K | $0 | — | — |
| Other intangibles | $7.0M | $7.4M | $99.6K | $99.6K | $99.6K | $21.9K | $0 | — | — | — |
| Total assets | $51.1M | $79.0M | $22.2M | $12.5M | $9.1M | $6.0M | $5.6M | $2.4M | $1.6M | $36.8K |
| Accounts payable | $9.2M | $2.1M | $3.0M | $2.3M | $1.5M | $2.7M | $2.3M | $1.4M | $748.5K | $46.6K |
| Short-term debt | $4.0M | $2.5M | $265.0K | $94.3K | $315.4K | $1.3M | $89.7K | $194.6K | $228.0K | — |
| Total current liabilities | $34.6M | $63.8M | $13.8M | $6.5M | $2.4M | $7.9M | $11.1M | $4.0M | $1.2M | — |
| Long-term debt | $31.3K | $2.5M | $99.1K | $108.2K | $119.3K | $270.8K | $178.0K | $0 | $0 | — |
| Total liabilities | $34.8M | $67.1M | $14.1M | $6.7M | $2.6M | $8.3M | $11.4M | $4.0M | $1.4M | $210.4K |
| Retained earnings | -$43.3M | -$32.7M | -$26.1M | -$24.5M | -$18.5M | -$14.7M | -$8.1M | -$2.7M | -$563.2K | -$309.7K |
| Total equity | $16.3M | $11.9M | $8.0M | $6.8M | $7.4M | -$1.4M | -$4.9M | -$1.6M | $185.3K | $541.0K |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$3.8M | -$2.9M | -$1.5M | -$1.8M | -$3.2M | -$3.2M | -$1.2M | -$356.6K | -$267.8K | -$145.5K |
| Depreciation and amortisation | $627.7K | $499.5K | $128.7K | $120.1K | $91.5K | $91.5K | $41.7K | $20.4K | $52.3K | — |
| Stock-based compensation | $305.0K | $223.2K | $42.9K | $126.5K | $1.3M | $1.3M | — | — | — | — |
| Capital expenditure | $113.0K | $151.6K | $220.0K | $112.1K | $153.2K | $153.2K | $32.0K | $426 | $0 | — |
| Investing cash flow | -$239.7K | -$3.2M | -$332.6K | -$2.0M | -$511.3K | -$511.3K | $152.1K | -$426 | $0 | — |
| Financing cash flow | $3.7M | $7.2M | $1.8M | $1.8M | $6.3M | $6.3M | $1.4M | $338.3K | $273.2K | $169.3K |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001663577-26-000112.
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