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NEW YORK - IQSTEL Inc. (NASDAQ:IQST), currently valued at $23.52 million in market capitalization, announced Thursday it has eliminated all convertible notes from its balance sheet and completed full payments for its recent QXTEL and Globetopper acquisitions. According to InvestingPro data, the company’s stock has experienced significant volatility, with the share price declining over 70% year-to-date.
The company reported it has become debt-free with no convertible notes or warrants outstanding. According to the company, IQSTEL now has $17.41 in assets per share. InvestingPro analysis indicates the company is currently trading at a low revenue valuation multiple, despite showing strong revenue growth of 30.37% over the last twelve months.
"This is a defining moment for IQSTEL," said Leandro Iglesias, CEO of IQSTEL Inc., in the press release. "We have completely eliminated convertible debt and finalized full payment for our latest acquisitions."
The company also announced plans to distribute a $500,000 dividend in shares before the end of 2025 as part of its strategic partnership with Cycurion, a cybersecurity firm.
IQSTEL stated it is accelerating its collaboration with Cycurion to develop AI-enhanced cybersecurity services for telecom and enterprise markets, expanding its portfolio beyond its existing telecom, fintech, and digital services.
The company maintains its previously stated financial objectives, including achieving a $15 million EBITDA run rate in 2025 and a $1 billion revenue run rate by 2027. IQSTEL currently forecasts $340 million in revenue for fiscal year 2025.
The company also launched a new investor landing page to provide updates on financial metrics and strategic milestones.
IQSTEL describes itself as a Global Connectivity, AI, and Digital Corporation with operations in 21 countries and approximately 100 employees.
This information is based on a press release statement issued by the company.
In other recent news, IQSTEL Inc. reported preliminary revenue of $128.8 million for the first half of 2025, with $27.3 million generated in June alone. The company is targeting a $400 million annualized revenue run rate in the third quarter and aims to achieve $1 billion in revenue by 2027. Additionally, IQSTEL has reaffirmed its financial targets, including a $15 million EBITDA run rate by 2026. As part of its growth strategy, the company plans to pursue two to three strategic acquisitions, each expected to contribute approximately $5 million in EBITDA, financed primarily through commercial bank debt and preferred shares.
In a strategic move, IQSTEL entered the cybersecurity sector through a stock swap partnership with Cycurion, Inc., involving an exchange of shares valued at $1 million. The company has also increased its authorized common stock from 3,750,000 shares to 26,000,000 shares, following an amendment to its Articles of Incorporation. CEO Leandro Iglesias emphasized the company’s consistent track record of meeting financial goals over the past seven years. These developments reflect IQSTEL’s commitment to achieving its ambitious financial targets in the coming years.
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