IQST - IQSTEL Reports $1.40 Revenue Per Share and $283.2 Million in Revenue, Fueling 95.9% YOY Growth and Expanding Its $79 Million Asset Base to Drive High-Tech, High-Margin Innovation
NEW YORK, March 31, 2025 /PRNewswire/ -- IQSTEL Inc. (OTCQX:IQST) proudly announces its 2024 financial results, highlighting exponential growth, a stronger business foundation, and an expanding vision beyond telecom.
With $283.2 million in revenue, a 95.9% year-over-year increase, and a significant boost in profitability across operating subsidiaries, IQSTEL has not only built a telecom powerhouse but has also been laying the foundation for a diversified, high-tech, high-margin business platform. This platform will fuel expansion into Fintech, AI-driven services, and other cutting-edge technologies, maximizing growth opportunities.
IQSTEL's organic growth, led by Etelix, Swisslink, and IoT Labs—was further accelerated by the transformational QXTEL acquisition, reinforcing its dominance in global telecom while opening new pathways into high-value technology sectors.
Looking ahead to 2025, IQSTEL is committed to debt reduction, cost efficiencies, and strategic acquisitions, targeting a $400 million revenue run rate. With a scalable, high-margin model, IQSTEL is positioned for sustainable long-term expansion, unlocking new revenue streams and shareholder value.
Key Takeaways from IQSTEL's 2024 Financials
Unprecedented Growth: Revenue increased 95.9% from $144.5 million in FY-2023, to $283.2 million in revenue in FY-2024, nearly doubling in just one year.
Operating Subsidiaries' Adjusted EBITDA: Our subsidiaries surpassed $2.5 million in Adjusted EBITDA, showing our ability to generate sustainable profits.
Massive Asset Growth: Total assets surged to $79.0 million, up from $22.2 million in 2023, a remarkable 257% increase.
Strengthened Stockholder Equity: Grew 48% to $11.9 million, up from $8.0 million in 2023.
Revenue Per Share: Soared to $1.40 in 2024 vs. $0.84 in 2023, an impressive 66.67% improvement.
We are not just growing—we are scaling at an exponential rate!
We invite all shareholders, investors, and partners to read our full 2024 Shareholders Letter detailing our exceptional performance and exciting roadmap ahead.
Shareholders Letter, 2024 Financial Results & 2025 Outlook
Dear Shareholders,
We are thrilled to share with you the official filing of our annual report on 10-K form, highlighting our audited financial results for 2024. This year has been a defining moment in IQSTEL's trajectory, reinforcing our momentum toward becoming a profitable company with a $1 billion goal in revenue.
We are executing our vision, breaking records, and expanding our presence like never before.
As we reflect on the financial performance of our company over the past year, we recognize both the challenges and opportunities that define our journey.
We are building a company on solid foundations supported by our telecommunications business.
Since our inception, we have focused on establishing a robust business structure within the telecommunications industry, executing a dynamic M&A strategy and organic growth over the past six years. Each acquisition has bolstered our balance sheet through the addition of assets and an increase in shareholders' equity. By the end of 2024, our consolidated assets increased by an impressive 257%, rising from $22.2 million in FY-2023 to just over $79 million in FY-2024. Concurrently, our net shareholders' equity grew by 48% during the same period, reaching $11.9 million compared to $8 million the previous year. This process has generated significant value for our shareholders, evidenced by a 25.43% increase in net shareholders' equity per issued share as of December 31, 2024 compared to December 31, 2023.
Throughout these 6 years we have established a robust and expanding revenue foundation, and 2024 was consistent with this trend. In FY-2024, we experienced remarkable growth, with revenue increasing by 95.9% from $144.5 million in FY-2023 to $283.2 million in FY-2024.
Revenue Per Share soared to $1.40 in 2024 vs. $0.84 in 2023, an impressive 66.67% improvement.
Organic growth is the foundation of IQSTEL's strength. Even excluding QXTEL, acquired in April 2024, our businesses achieved a massive 36.46% ($52.7 million) in organic revenue growth in FY-2024.
Etelix & Swisslink: Unstoppable Performance
Etelix (a 100% owned subsidiary) generated $69.8 million in revenue in 2024 vs. $44.0 million in 2023 an astonishing 58.63% ($25.8 million) increase.
Swisslink, a shared-managed operation with Etelix, experienced growth from $5.3 million to $8.3 million, an increase of 56.60%.
Together, Etelix and Swisslink contributed $28.8 million to organic growth, accounting for 55% of our total organic growth in 2024—proof that our business consolidation strategy is driving value.
It's important to highlight that QXTEL's Management has played a pivotal role as a catalyst for organic growth this year.
IoT Labs: A Powerhouse in SMS-Driven Services
Reported $94.2 million in revenue in 2024, up from $75.6 million in 2023—a 24.6% ($18.6 million) boost. High-margin outbound SMS services are skyrocketing.
We are not just growing—we are scaling at an exponential rate!
QXTEL Acquisition: A Game-Changer for IQSTEL, Our Flagship for International Expansion
The QXTEL acquisition has been a transformational milestone, solidifying our financial strength, expanding our product portfolio, and enhancing our global customer base.
$4.2 million already paid for this acquisition as of the date of this press release, with $1.8 million remaining, scheduled to be fully ...
