iQSTEL Reports Outstanding $277 Million Revenue for 2024 with Record Q4 Earnings
iQSTEL Inc. (OTCQX: IQST), a prominent player in the telecommunications and technology sectors, has announced its net revenue for 2024, hitting an impressive $277 million, just shy of its ambitious forecast. This figure represents a striking achievement for the company, underscoring its robust growth strategy and commitment to reaching a goal of $1 billion in revenue by 2027.
In the fourth quarter alone, iQSTEL recorded a monumental $96 million in net revenue, demonstrating a significant leap of 77% from $52 million in the third quarter. This quarterly revenue is the highest in the company’s history, a clear reflection of the strength of iQSTEL’s commercial initiatives and the rising demand for its diverse technological solutions.
CEO Leandro Iglesias has expressed his excitement, stating, "We have set an incredible commercial pace on our path to becoming a $1 billion company by 2027. The $277 million in revenue for 2024 compared to $144.5 million in 2023 highlights our ability to execute and scale at an amazing rate."
On a gross revenue basis, iQSTEL achieved $300 million, with approximately $23 million stemming from intercompany transactions. This highlights the synergistic efforts of iQSTEL's various subsidiaries, showcasing how collaborative strategies can effectively drive success. Indeed, intercompany revenue accounted for over 7.6% of total gross revenue, emphasizing the alignment that resonates throughout the organization.
When comparing the preliminary 2024 net revenue to that of 2023, which stood at $144.5 million, it’s clear that iQSTEL has experienced remarkable year-over-year growth of approximately 91.6%. This captivating trajectory solidifies its status as a high-growth leader within the telecommunications and technology arenas.
Looking ahead, Mr. Iglesias articulated the company's ambition as it lays the groundwork for a listing on NASDAQ. This initiative is a move to attract national markets that prioritize explosive growth, as evidenced by iQSTEL's nearly doubled revenue over the past year. "This is just the beginning of our journey towards becoming a billion-dollar company by 2027," Iglesias added proudly.
As a U.S.-based multinational firm, iQSTEL provides an extensive range of services aimed at fulfilling essential human needs in today's increasingly technological landscape. The company's offerings span various sectors, including:
Since 2018, iQSTEL has made significant strides through 11 acquisitions, strengthening its portfolio while continuously seeking new growth opportunities both organically and via strategic acquisitions.
As a publicly traded company, iQSTEL makes forward-looking statements that encompass growth forecasts and expectations, which are based on management's current estimates. However, these statements involve numerous factors and uncertainties that could lead to actual results differing significantly from what has been projected.
Through its commitment to innovation and expanding its product offerings, iQSTEL is not only pursuing immediate financial success but also laying the groundwork for sustainability and expansive growth in the coming years.
For more information about iQSTEL and its services, visit www.iqstel.com.
Record-Breaking Performance
In the fourth quarter alone, iQSTEL recorded a monumental $96 million in net revenue, demonstrating a significant leap of 77% from $52 million in the third quarter. This quarterly revenue is the highest in the company’s history, a clear reflection of the strength of iQSTEL’s commercial initiatives and the rising demand for its diverse technological solutions.
CEO Leandro Iglesias has expressed his excitement, stating, "We have set an incredible commercial pace on our path to becoming a $1 billion company by 2027. The $277 million in revenue for 2024 compared to $144.5 million in 2023 highlights our ability to execute and scale at an amazing rate."
Synergy Among Subsidiaries
On a gross revenue basis, iQSTEL achieved $300 million, with approximately $23 million stemming from intercompany transactions. This highlights the synergistic efforts of iQSTEL's various subsidiaries, showcasing how collaborative strategies can effectively drive success. Indeed, intercompany revenue accounted for over 7.6% of total gross revenue, emphasizing the alignment that resonates throughout the organization.
Unprecedented Year-over-Year Growth
When comparing the preliminary 2024 net revenue to that of 2023, which stood at $144.5 million, it’s clear that iQSTEL has experienced remarkable year-over-year growth of approximately 91.6%. This captivating trajectory solidifies its status as a high-growth leader within the telecommunications and technology arenas.
A Vision for the Future
Looking ahead, Mr. Iglesias articulated the company's ambition as it lays the groundwork for a listing on NASDAQ. This initiative is a move to attract national markets that prioritize explosive growth, as evidenced by iQSTEL's nearly doubled revenue over the past year. "This is just the beginning of our journey towards becoming a billion-dollar company by 2027," Iglesias added proudly.
iQSTEL’s Diverse Offerings
As a U.S.-based multinational firm, iQSTEL provides an extensive range of services aimed at fulfilling essential human needs in today's increasingly technological landscape. The company's offerings span various sectors, including:
- - Telecommunications Services featuring VoIP, SMS, and IoT solutions.
- - Fintech Solutions that enable remittance and financial services.
- - An Electric Vehicles Division focusing on electric motorcycles and future mobility solutions.
- - Services centered around Artificial Intelligence enabling unified customer engagement.
- - A Cybersecurity Division offering advanced protection for its clients in the telecommunications sector.
Since 2018, iQSTEL has made significant strides through 11 acquisitions, strengthening its portfolio while continuously seeking new growth opportunities both organically and via strategic acquisitions.
Safe Harbor Statements
As a publicly traded company, iQSTEL makes forward-looking statements that encompass growth forecasts and expectations, which are based on management's current estimates. However, these statements involve numerous factors and uncertainties that could lead to actual results differing significantly from what has been projected.
Through its commitment to innovation and expanding its product offerings, iQSTEL is not only pursuing immediate financial success but also laying the groundwork for sustainability and expansive growth in the coming years.
For more information about iQSTEL and its services, visit www.iqstel.com.
Topics Telecommunications）
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