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Operations in 20+ countries, with commercial relationships spanning 600+ of the world’s largest telecom operators and a $430 Million Organic Revenue Forecast for 2026
Now a Debt-Free Nasdaq Company With No Convertible Notes or Warrants and Plans to Give $500,000 in Shares as Dividend by the End of the Year
Forecasting $400 million in revenue for FY-2025, reinforcing its trajectory toward becoming a $1 billion tech-driven enterprise by 2027.
Hello Everyone,
We have a familiar company back on our radar that has entered 52 week low territory that is on watch for a potential bounce at the bell.
We have been out in front of some huge runs over the past 9 months on IQST. We know it has the potential to run and we think recent revenue announcements and huge projected growth ahead, we have to put IQST back on watch down at these levels.
IQST has expanded steadily since its inception, driven by a mix of disciplined operations and an aggressive acquisition strategy. Since 2018, the company has integrated 12 businesses into its portfolio, helping it build a presence across telecommunications, financial technology, and artificial intelligence—segments it reports are all undergoing rapid and significant growth. IQST expects to generate approximately $340 million in revenue this year and is aiming for $430 million in organic revenue in 2026, which would represent a 26% increase. The company produced $283 million in revenue last year and emphasizes that it has a long history of meeting or exceeding its financial projections while executing consistently across its diversified business lines.
Since launch, IQSTs acquisition activity has reshaped the company into a multi-segment operator with roughly four-fifths of its revenue now coming from telecommunications and the remainder from fintech. It also bought Reality Border, an AI-focused company that now serves as its in-house research and development arm, responsible for building proprietary AI technologies. Looking ahead, IQST plans to continue its acquisition strategy and is targeting two to three additional purchases that it expects to enhance earnings. These acquisitions, combined with internal expansion, are part of its plan to reach $15 million in EBITDA by 2026. The company also notes that it will update its 2026 revenue expectations once additional transactions are completed and remains committed to its larger objective of reaching $1 billion in revenue by 2027.
Beyond acquisitions, IQST is securing alliances intended to broaden its market reach and strengthen investor appeal. Among the most notable is a partnership with Cycurion Inc. (NASDAQ: CYCU), an AI-driven cybersecurity firm. This collaboration gives IQSTEL its first significant presence in the cybersecurity space—an industry experiencing strong global demand—and introduces a new, potentially high-margin business line. In mid-year, the companies began working together to develop and market AI cybersecurity tools and services for telecommunications providers and enterprise clients worldwide.
As part of this arrangement, the two companies signed a memorandum of understanding outlining their intention to become mutual equity holders through an anticipated $1 million stock exchange. They also committed to issuing a combined $500,000 dividend to shareholders by the end of 2025, payable either in their own stock or in shares received through the exchange. IQSTEL views the partnership as a way to increase shareholder value while taking advantage of business segments that are largely shielded from the types of economic disruption that may occur from changes in U.S. tariffs. IQSTEL gains access to Cycurion’s U.S. government and institutional relationships, while Cycurion benefits from IQSTEL’s global telecommunications customer base. The companies expect this reciprocal access to allow them to jointly enter new markets, cross-sell offerings, and generate revenue opportunities that neither could fully reach independently. They plan to unveil the resulting cybersecurity portfolio at a major global telecommunications event in 2026.
Analyst sentiment has been positive regarding the partnership. Litchfield Hills, which currently rates IQSTEL as a buy with an $18 price target, highlighted that the equity-exchange structure ensures that both companies are deeply committed to making the initiative commercially meaningful rather than superficial. The firm also noted that combining cybersecurity (through Cycurion) with fintech (through IQSTEL’s acquisition of GlobeTopper) significantly enhances the company’s suite of high-margin services for telecom partners. This, they argue, positions IQSTEL to expand revenue and EBITDA while strengthening long-term customer relationships instead of depending exclusively on connectivity-based offerings.
IQSTEL continues to emphasize its ambition to reach $1 billion in revenue by 2027 and sees upcoming acquisitions, and new cybersecurity business line as key components of that trajectory. With the cybersecurity initiative scheduled to go live in 2026 and additional deals expected, the company anticipates further expansion across its global connectivity, AI, and digital services ecosystem.
• Strong and Expanding Telecom Operations
iQSTEL delivers international wholesale voice and SMS services to more than 35 top-tier telecom providers—including Verizon, Vodafone, and China Mobile—as well as hundreds of secondary carriers. Through interconnections with over 600 partners across more than 20 countries, the company has built a robust and far-reaching global network. Over the past year, iQSTEL’s voice traffic rose by 24%, while SMS volumes increased 23%, reflecting strong customer satisfaction and sustained growth in demand.
• A Relationship-Centered Approach to a Relationship-Driven Industry
In global telecommunications, success depends on trust, experience, and access. iQSTEL’s leadership team leverages deep-rooted relationships cultivated over decades to maintain a significant competitive edge. CEO Leandro Iglesias and his executives have transformed long-standing personal and professional connections into enduring commercial partnerships and favorable interconnection agreements that underpin the company’s expansion.
• Asset-Light Model Drives High Efficiency and Returns
Instead of investing in costly infrastructure, iQSTEL leases network capacity from a market abundant in telecom bandwidth. This capital-efficient, asset-light strategy allows the company to achieve stronger returns, maintain flexibility, and rapidly scale or adapt to new opportunities as they emerge.
• Strategic and Disciplined M&A Execution
Since going public in 2018, iQSTEL has successfully completed nine acquisitions—each sourced through the management team’s established industry network. Every acquired company’s CEO was personally known to Mr. Iglesias prior to acquisition. Post-merger, these leaders typically remain onboard under earn-out structures, ensuring smooth integration and continuity of customer relationships. iQSTEL’s model of acquiring a 51% controlling interest balances capital efficiency with operational control.
• Rapid Revenue Growth and Path to Profitability
iQSTEL’s revenue surged 96% last year, reaching $283 million, and the company is approaching positive EBITDA territory. Management expects to achieve a $400 million annualized revenue run rate by year-end, aided by a recent acquisition anticipated to contribute roughly $85 million in yearly revenue. The long-term target is $1 billion in revenue—positioning iQSTEL among established peers like IDT (NYSE: IDT) and Cogent (NASDAQ: CCOI).
• Compelling Valuation with Meaningful Upside
Comparable telecom firms currently trade at an average EV/EBITDA multiple of 9.2x for 2026 estimates, while close peers such as IDT and Cogent command roughly a 15% premium. Headquartered in Miami, iQSTEL operates under a distinctive asset-light model originally developed by its founder—formerly the head of CANTV’s international business—who launched Etelix in 2008. Following its 2018 public listing through a reverse merger, the company has pursued a steady stream of acquisitions fueling rapid top-line expansion. This year, iQSTEL is optimizing integration by consolidating traffic flows to its lowest-cost routing subsidiaries through global interconnection agreements and migrating operations onto a unified technology platform with its vendor partner.
The company has Four Key Competitive Advantages:
• Exceptional Industry Relationships – CEO Leandro Iglesias brings 27 years of telecom experience, including leadership at CANTV—formerly Venezuela’s top-tier national carrier and once partly owned by Verizon and Telefónica. His personal network spans the globe and includes current executives at many of the world’s largest carriers.
• Strategic Customer Acquisition – Management has leveraged its relationships to secure over 35 major international telecom customers and hundreds of tier 2 customers. These are high-volume, recurring relationships that drive consistent growth and reduce churn risk.
• Buyer Advantage in Oversupplied Market – Management also utilizes the same connections to secure the lowest-cost routing and termination agreements with global telecom carriers. Telecom is an opaque industry, and personal connections are important in negotiating favorable terms. The company benefits because the telecom industry has overbuilt, deploying too many network assets, so negotiations favor buyers like iQSTEL.
• Proven Acquisition Strategy – Every acquisition the company has completed has been of a company founded and run by an entrepreneur that Mr. Iglesias has known personally for many years. His modus operandi is to acquire an initial 51% stake, keep management on board, and give them earn-outs for continuing to perform after the acquisition.
iQSTEL is the Combination of Nine Acquisitions
Acquisitions are a key to the company’s growth strategy. To date, it has completed nine acquisitions to get the company to its present state of five operating voice telecom subsidiaries, two operating SMS subsidiaries, two fintech subsidiaries, and one metaverse joint venture.
Consideration paid for the eleven acquisitions has totaled $17.57 million, including the reverse merger of the CEO’s original business into a shell company. By comparison, the company has a roughly $30 million market cap, only owns 51% stakes in six business units and a 75% stake in one, with 100% stakes in only the original Etelix and QGlobal SMS acquired in 2020. To bring its stake up to 100% in each of its business units would require an estimated $11.3 million at the original purchase prices; however, much of this is expected to be paid in shares.
The founders have been known professionally to the CEO for several years and are willing to stay on and run the business with earnouts for performance. Keeping the founders in place is important because they have personal relationships with the customers.
Key Drivers
IQSTEL (NASDAQ: IQST) continues to deliver strong performance and expand its footprint as a Global Connectivity, AI & Digital Corporation:
- Diversified Growth – Four strategic business lines: Telecommunications, Fintech, Artificial Intelligence, and Cybersecurity.
- Global Reach – Operations in 20+ countries, with commercial relationships spanning 600+ of the world’s largest telecom operators.
- High-Margin Expansion – A powerful platform to layer in additional services, including AI, fintech, and cybersecurity solutions — highlighted by our partnership with Cycurion.
- IQSTEL Intelligence Momentum – Our IQSTEL Intelligence division is growing faster than expected. Highlights include the ONAR partnership, the Mobility Tech partnership, the Cycurion alliance, plus three more contracts in the sales funnel, expected to close before year-end.
- Strong Financial Trajectory – On track toward $1 billion in revenue by 2027, with a projected $15M EBITDA run rate in 2026.
- Institutional Confidence – Approximately 12 institutional investors now hold 4% of IQST shares, just 120 days after our Nasdaq uplisting.
- Research Recognition – Litchfield Hills Research issued a detailed report with an $18 price target: https://shre.ink/te9s
- Momentum in Q2 & Q3 – $35M revenue in July, surpassing a $400M annual run rate five months ahead of schedule. Assets per share stand at $17.41, outperforming across net equity, gross revenue, margins, net income, and adjusted EBITDA.
- Strategic Alliances – IQSTEL and Cycurion (Nasdaq: CYCU) executed a $1M stock exchange and dividend distribution, with IQSTEL planning to distribute $500,000 in Cycurion Nasdaq shares to its shareholders as part of the partnership: https://finance.yahoo.com/news/iqstel-cycurion-execute-1-million-123000867.html
- Innovation in AI – Launch of www.IQ2Call.ai, targeting the $750B global market with vertical AI-Telecom integration, including next-gen AI for U.S. healthcare call centers.
- Fintech Acceleration – Acquisition of Globetopper (July 1, 2025), forecasted to add $34M revenue and positive EBITDA in H2 2025.
- Balance Sheet Strength – $6.9M debt reduction (~$2 per share), reinforcing our equity position. Notably, half of this debt was voluntarily converted by investors into Preferred Shares, underscoring their trust in IQSTEL’s vision, management, and growth strategy.
- Revenue Mix – Current revenue stream: 80% telecommunications, 20% fintech, with fintech and AI & Digital services set to accelerate growth.
NEWS
6 days ago
IQST – IQSTEL Reports Explosive Q3 Growth With $102.8 Million Net Revenue, Up 42% vs. Q2
Nov 6, 2025
Oct 30, 2025
IQST – IQSTEL Unveils Executive Interview Highlighting Strategic Milestones and Financial Strength
Oct 23, 2025
Oct 21, 2025
Oct 21, 2025
Oct 9, 2025
Oct 1, 2025
Sep 24, 2025
Sep 17, 2025
IQST – IQSTEL Fintech Division Accelerates EBITDA Growth with Globetopper Contribution
Sep 16, 2025
Sep 3, 2025
Sep 3, 2025
Driving the Digital Revolution: iQSTEL Inc. on the Path to a Billion-Dollar Valuation
Sep 3, 2025
Aug 28, 2025
Aug 25, 2025
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