Updated Nov. 24, 2025

NASDAQ: IQST

IQST
Official Investors Landing Page

IQSTEL Inc. (NASDAQ: IQST) is a Global Connectivity, AI, and Digital Corporation providing advanced solutions across Telecom, High-Tech Telecom Services, Fintech, AI Proprietary Services, and Cybersecurity. With operations in 21 countries and a team of 100 employees, IQSTEL serves a broad global customer base with high-value, high-margin services. The company’s offices are located in Miami (USA), Buenos Aires (Argentina), Caracas (Venezuela), London (UK), Istanbul (Türkiye), and Dubai (UAE).

Backed by a strong and scalable business platform, the company is forecasting $340 million in revenue for FY-2025, reinforcing its trajectory toward becoming a $1 billion tech-driven enterprise by 2027.

Snapshot

In Figures:

Debt-Free Company, No Convertible Notes, No Warrants
$102.8 Million Revenue in Q3, Up 42% vs. Q2
$283.2 Million Revenue 2024
$411.5 Million Revenue Run Rate in Sept. 2025
$2.73 Million Adjusted EBITDA Run Rate in Sept. 2025
$15 Million EBITDA Run Rate, Planned for 2026
$1 Billion Revenue Run Rate, Planned for 2027
12 Mergers & Acquisitions (M&A) since 2018
Revenue Mix: 80% Telecom, 20% Fintech

Interview with CEO of IQSTEL


Nov. 21, 2025

Leandro Iglesias, CEO of IQSTEL, spoke with Dan Leach on ‪Benzinga‬ “All Access”.

During the interview, the company’s strategic vision was presented, detailing a corporate roadmap focused on accelerated growth and high-margin profitability.

Visit our IQSTEL YouTube Channel.

Subsidiaries

Partnership

Business Lines


Telecom


Fintech


Proprietary AI Services


Cybersecurity

Positioned to become the first and best option for global connectivity and digital services in the wholesale telecommunications industry.


Commercial Proposition:

600+ Network Interconnections with the largest global telecom operators, such as Verizon, Telefonica, Telecom Italia, British Telecom, Deutsche Telekom, Vodafone, Etisalat, among others.
Built unique business platform very difficult to replicate.
Doing business where nobody does, in 21 countries and 4 continents.
Revenue matters, as the bigger we are, the more value we add to our customers and shareholders.

Key Highlights


$12.23

Assets per Share
Sep. 30, 2025


$4.66

Net Equity per Share
Sep. 30, 2025


$500,000

Dividend Planned before
Dec. 31, 2025


$18

Strong Buy by Litchfield Hills
Research (Get the full report)

Top Reasons to Have IQST on Your Radar

Diversified Growth – Four strategic business lines: Telecommunications, Fintech, Proprietary Artificial Intelligence (AI), 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 20 institutional investors now hold 4.85% of IQST shares, just 180 days after our Nasdaq uplisting.
Research Recognition – Litchfield Hills Research issued a detailed report with an $18 price target (Get the full report)
Momentum in Q3 – $102.8M revenue in Q3, surpassing a $400M annual run rate five months ahead of schedule. Assets per Share stand at $12.23 and Net Equity per Share at $4.66. Revenue Run Rate: $411.5 million, and Adjusted EBITDA Run Rate: $2.73 million.
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 Q3 2025.
Debt-Free Status – IQSTEL confirms it is a dilutive debt-free company, with no convertible notes and no warrants outstanding, providing shareholders with a clean, efficient capital structure.
Revenue Mix – Current revenue stream: 80% telecommunications, 20% fintech, with fintech and AI & Digital services set to accelerate growth.

Institutional Investors Hold 208,607 IQST Shares (aprox 4.85%) of the Company

Review the Institutional Data on NASDAQ.
https://www.nasdaq.com/market-activity/stocks/iqst/institutional-holdings



Vanguard




UBS




Geode




DRW Securities




Cetera




Jane Street




Northern Trust




State Street




Osaic Holdings



Federation Des Caisses
Desjardins



Newedge
Advisors



Tower Research
Capital



Morgan Stanley




Game Plan Financial
Advisors



Bank of
America



Koesten, Hirschmann & Crabtree



IFP
Advisors



Jones Financial
Companies



Citigroup




TD Waterhouse
Canada


Executive Leadership

Leandro Iglesias — Chairman of the Board & CEO

With a background in electronics engineering and international business, Leandro Iglesias leads IQSTEL with a commitment to sustainable growth, innovation, and shareholder value, advancing the company across the 
global tech landscape.

Alvaro Quintana — Secretary of The Board & CFO

Alvaro Quintana commands IQSTEL’s strategic growth and global expansion with crucial financial leadership, navigating the complex regulatory landscape and optimizing the company’s fiscal performance.

Why IQSTEL Is a Unique Investment Opportunity


A Proven Growth Trajectory

IQSTEL has demonstrated an extraordinary trajectory, growing from $13.8M in revenue in 2018 to a $411.5M revenue run rate today — with a clear plan to reach $1B in the next 18–24 months. This growth is fueled by both organic expansion and strategic acquisitions, with a strong track record of successfully integrating acquired companies into its platform. Each acquisition adds another piece to IQSTEL’s global network — a network that would take competitors years and hundreds of millions of dollars to replicate.


A Critical Mass & Irreplaceable Network

IQSTEL now operates in 21 countries and maintains commercial relationships with over 600 of the world’s largest telecom operators.
Our Business and Network platform represent assets that are difficult to replicate and give IQSTEL a powerful platform to layer on additional high-margin services, such as AI, fintech, and cybersecurity.


Financial Discipline & Strength

No convertible notes and no warrants outstanding.
Around $46.8 Million in assets, nearly 2x its current market cap.
Consistently clean with the SEC — never a late filing, never a compliance issue.
Achieved NASDAQ uplisting through a direct listing — a rare feat, done without heavy dilution or reliance on bankers.


Path to Shareholder Value Creation

IQSTEL is targeting a $15M EBITDA run rate in 2026. Companies in its industry trade at 10x–20x EBITDA, which implies a potential valuation between $150M–$300M once this goal is achieved — 5–10x upside from today’s levels.


Institutional Interest is Growing

~20 institutional investors have already begun taking positions, recognizing the company’s growth potential and disciplined execution.


Financial Discipline & Strength

IQSTEL has never missed a financial target and has repeatedly outperformed expectations. This is a company with a proven ability to deliver, year after year, quarter after quarter.

Highlighted News

Market Undervaluation Insights in Exclusive Interview with Leandro Iglesias, CEO of IQSTEL, Inc. (Nasdaq: IQST)

IQST – IQSTEL Reports Record Q3 2025 Results: $102.8 Million Quarterly Revenue, 42% Sequential Growth, and Strengthened Balance Sheet.
IQST – IQSTEL Reports Explosive Q3 Growth With $102.8 Million Net Revenue, Up 42% vs. Q2.

IQST – IQSTEL Announces $430 Million Organic Revenue Forecast for 2026, Reflecting 26% Organic Growth and Building on Strong Momentum.
IQST – IQSTEL and Cycurion – CYCU Enter a New Era of AI-Cybersecurity, Completing Phase One of Their Next-Generation Cyber Defense Rollout.
IQST – IQSTEL Becomes 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.
IQST – IQSTEL Celebrates 120 Days on Nasdaq With Institutional Investors, Analyst Coverage, and Cycurion Dividend Driving AI & Digital Expansion.

Ready to dig deeper?

Get the full reports and connect with Investor Relations.

IQSTEL’s Breakout Quarter (Q3-2025)
Teaser (Nov. 19, 2025)
Cycurion (CYCU) Partnership.
Teaser (Sep. 25, 2025)
IQSTEL Revenue Acceleration.
Teaser (Aug. 19, 2025)
GlobeTopper Acquisition.
Teaser (Jul. 28, 2025)
IQSTEL Unlocking Global Telecom Value. Teaser (July 2, 2025)
Contact IR

Visit our website: iqstel.com


CONTACT US

investors@iqstel.com
300 Aragon Avenue, Suite 375, Coral Gables, FL 33134

This page is for informational purposes only and does not constitute investment advice.
Figures and targets are subject to change.
Review our Disclaimer: Non-GAAP Financial Measures
© 2025 IQSTEL. All Rights Reserved.