IQSTEL approaches $400 million revenue run rate, targets $1 billion by 2027

NEW YORK - IQSTEL Inc. (NASDAQ:IQST) is on track to reach a $400 million annual revenue run rate by the third quarter of 2025, ahead of its original year-end schedule, according to a shareholder letter released Thursday. The company has demonstrated strong revenue growth, with InvestingPro data showing a 69% year-over-year increase in the last twelve months.

The telecom, fintech, AI, and cybersecurity services provider, which recently completed its NASDAQ uplisting without raising additional funds, reported it is generating positive EBITDA and net income in its operating subsidiaries. According to InvestingPro analysis, the company currently trades at a notably low revenue multiple, though it faces challenges with gross profit margins of just 3.05%.

IQSTEL closed the acquisition of Globetopper in July 2025, adding an estimated $60-$70 million in annual revenue and positive EBITDA. The company stated this acquisition has relaunched its fintech division, with plans to grow Globetopper’s contribution to over $100 million annually.

Currently, approximately 80% of IQSTEL’s revenue comes from telecommunications services and 20% from fintech operations, with the latter segment growing, according to the shareholder letter.

The company has launched several AI-powered services including IQ2Call.ai, an AI call center agent deployed in the U.S. and Spain, and AIRWEB.ai, a multilingual web/phone AI customer service agent. IQSTEL also mentioned a partnership with Cybersecurity firm Cycurion.

IQSTEL has set a target of $1 billion in annual revenue by 2027, projecting $20-$30 million in annual EBITDA at that scale. The company noted it is currently trading below 1x revenue.

The shareholder letter indicated IQSTEL has begun outreach to institutional investors and family offices to increase awareness of its business, emphasizing that this effort does not involve issuing new shares. With a current market capitalization of $27.39 million and trading below its InvestingPro Fair Value, the stock has shown significant volatility, trading between $5.22 and $32.68 over the past 52 weeks. Subscribers to InvestingPro can access 11 additional key insights about IQST’s financial health and market position.

The information was shared through a shareholder letter recapping a recent investor interview with the company’s CEO Leandro Iglesias and CFO Alvaro Quintana.

In other recent news, IQSTEL Inc. announced it has surpassed a $400 million revenue run rate in the third quarter of 2025, exceeding its initial year-end target. The company reported preliminary unaudited revenue of $128.8 million for the first half of 2025, with June alone contributing $27.3 million. This marks a notable increase from May’s revenue of $23.7 million. Starting in July, IQSTEL will begin consolidating revenue from its newly acquired subsidiary, Globetopper, expected to add $5 million to $6 million in monthly revenue. The company also launched IQ2Call, an AI-powered call center service, which is being rolled out in Spain and the United States. Additionally, IQSTEL announced a $6.9 million reduction in debt, achieved through conversions into common shares and Series D Preferred Shares. This financial maneuver will be reflected in the Q3 2025 financial reports. The company reported a preliminary net revenue of $77.8 million for the first four months of 2025, reflecting a 12% increase from the previous year. CEO Leandro Iglesias anticipates that the recent acquisition of Globetopper will significantly contribute to revenue growth, potentially reaching a $400 million annualized revenue run rate by the end of 2025.

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