IQST

MKT CAP:$5M

iQSTEL Inc.

Market Cap

$5M

Communication Services·Telecommunications Services·🇺🇸 United States·NASDAQ

Communication·Telecommunications·🇺🇸·NASDAQ

Stock Price

$1.59-$1.46 (-47.87%)

Apr 22, 2026

Company Details

iQSTEL Inc., through its subsidiary, Etelix.com USA, LLC, provides telecom and technology solutions. It provides international long-distance voice services (ILD wholesale) for telecommunications operator; and submarine fiber optic network c...

CEO

Leandro Jose Iglesias

IPO Date

Jul 9, 2018

Website

www.iqstel.com

Key Metrics TTM

Revenue

$283M

+127.4% YoY

Net Income

-$6M

EPS (Diluted)

-$0.70

Free Cash Flow

-$4M

Revenue / Share

$77.84

Gross Margin

3.0%

Operating Margin

-0.3%

Net Margin

-2.0%

FCF Margin

-1.5%

P/S

0.0x

P/E

—

Earnings Reports

Q3 2025

Nov 14, 2025

$103M+89.6%EPS -$0.68

Q3 2024

Nov 14, 2024

$54M+36.5%EPS -$0.01

Q2 2024

Aug 14, 2024

$79M+139.6%EPS -$0.01

Q4 2023

Apr 1, 2024

$47M+67.9%EPS -$0.00

Q3 2023

Nov 14, 2023

$40MEPS -$0.00

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 18	$10M	$870.9K	$126.6K
Q3 18	$4M	$262.5K	$66.6K
Q4 18	$4M	$239.8K	-$341.0K
Q1 19	$4M	$435.6K	$245.1K
Q2 19	$4M	-$91.7K	-$433.3K
Q3 19	$4M	$243.4K	-$249.4K
Q4 19	$5M	$193.7K	-$231.1K
Q1 20	$5M	-$161.1K	-$1M
Q2 22	$24M	$846.3K	-$298.2K
Q4 22	$28M	-$853.8K	-$2M
Q2 23	$33M	$784.5K	-$252.7K
Q3 23	$40M	$1M	$70.8K
Q4 23	$47M	$2M	$184.0K
Q2 24	$79M	$2M	-$342.1K
Q3 24	$54M	$2M	-$56.6K
Q3 25	$103M	$3M	-$559.1K

Valuation

Quarter	P/S	P/E
Q2 18	2.9x	—
Q3 18	2.9x	—
Q4 18	2.7x	—
Q1 19	1.7x	—
Q2 19	2.4x	—
Q3 19	2.0x	—
Q4 19	4.4x	—
Q1 20	8.0x	—
Q2 22	116.5x	—
Q4 22	41.3x	—
Q2 23	20.3x	—
Q3 23	24.7x	—
Q4 23	15.8x	—
Q2 24	18.2x	—
Q3 24	10.8x	—
Q3 25	0.1x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q2 18	-$304.2K	-$304.2K
Q3 18	-$88.7K	-$89.1K
Q4 18	-$129.5K	-$129.5K
Q1 19	-$321.1K	-$321.6K
Q2 19	-$346.6K	-$346.6K
Q3 19	-$663.3K	-$663.3K
Q4 19	$87.0K	$55.0K
Q1 20	-$541.9K	-$587.2K
Q2 22	-$987.6K	-$1M
Q4 22	-$276.2K	-$301.7K
Q2 23	-$918.6K	-$987.6K
Q3 23	$286.7K	$254.2K
Q4 23	-$1M	-$1M
Q2 24	-$3M	-$3M
Q3 24	$625.0K	$594.5K
Q3 25	-$953.0K	-$969.3K

Capital Expenditures

Quarter	CapEx
Q2 18	$0
Q3 18	$426
Q4 18	$0
Q1 19	$426
Q2 19	$0
Q3 19	$0
Q4 19	$32.0K
Q1 20	$45.3K
Q2 22	$22.3K
Q4 22	$25.6K
Q2 23	$69.0K
Q3 23	$32.5K
Q4 23	$55.3K
Q2 24	$31.8K
Q3 24	$30.5K
Q3 25	$16.2K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 18	—	+26247.6%
Q3 18	+99.7%	+97.6%
Q4 18	—	+23872.6%
Q1 19	+91.0%	+78.9%
Q2 19	-55.8%	-50.6%
Q3 19	+10.0%	+18.6%
Q4 19	+32.7%	+27.7%
Q1 20	+20.5%	+65.3%
Q2 22	+457.2%	+412.0%
Q4 22	+574.6%	+591.9%
Q2 23	+503.1%	+483.0%
Q3 23	+692.4%	+512.8%
Q4 23	+99.4%	+96.1%
Q2 24	+179.4%	+158.1%
Q3 24	+65.3%	+64.2%
Q3 25	+158.7%	+160.6%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q2 18	$150.0K	1.6%
Q3 18	$25.0K	0.7%
Q4 18	$12.5K	0.3%
Q1 19	$25.0K	0.6%
Q2 19	$0	0.0%
Q3 19	$0	0.0%
Q4 19	$0	0.0%
Q1 20	$500.0K	10.0%
Q2 22	$0	0.0%
Q4 22	$0	0.0%
Q2 23	$0	0.0%
Q3 23	$0	0.0%
Q4 23	$0	0.0%
Q2 24	$0	0.0%
Q3 24	$0	0.0%
Q3 25	$15.9K	0.0%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q2 18	$43.5K	$747.6K	—
Q3 18	$55.2K	$177.4K	—
Q4 18	$47.7K	$113.8K	$420.7K
Q1 19	$43.6K	$177.9K	—
Q2 19	$51.3K	$341.6K	—
Q3 19	$43.5K	$492.8K	—
Q4 19	$21.9K	$391.5K	$11.3K
Q1 20	—	$942.7K	$285.9K
Q2 22	$55.9K	$1M	$296.7K
Q4 22	$102.4K	$845.5K	$371.0K
Q2 23	$61.8K	$1M	$118.4K
Q3 23	$87.8K	$957.8K	$129.7K
Q4 23	$54.9K	$698.5K	$271.9K
Q2 24	—	$3M	—
Q3 24	$337.0K	$2M	—
Q3 25	—	$3M	—

Revenue by Geography

Quarter	Switzerland	U S A	Geography Eliminations	United States	United Kingdom
Q1 20	$1M	$4M	—	—	—
Q2 22	$1M	$23M	—	—	—
Q3 25	$11M	—	-$16M	$63M	$45M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$4M	$0	$4M
Q2 22	$2M	$0	$2M
Q3 22	$1M	$0	$1M
Q4 22	$1M	$0	$1M
Q1 23	$2M	$0	$2M
Q2 23	$1M	$0	$1M
Q3 23	$2M	$0	$2M
Q4 23	$1M	$0	$1M
Q1 24	$3M	$0	$3M
Q2 24	$797.2K	$0	$797.2K
Q3 24	$2M	$0	$2M
Q4 24	$3M	$0	$3M
Q1 25	$1M	$0	$1M
Q2 25	$2M	$0	$2M
Q3 25	$2M	$0	$2M
Q4 25	$2M	$0	$2M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 18	56K	0.0%	+177.6%
Q3 18	15M	+26928.3%	+46.3%
Q4 18	15M	+0.2%	+38859.7%
Q1 19	15M	+0.0%	+26991.0%
Q2 19	15M	+2.1%	+27564.0%
Q3 19	16M	+3.7%	+6.2%
Q4 19	16M	+2.9%	+9.1%
Q1 20	31M	+87.9%	+104.9%
Q2 22	151M	+389.6%	+882.2%
Q4 22	152M	+0.9%	+855.3%
Q2 23	165M	+8.2%	+904.0%
Q3 23	168M	+2.2%	+445.9%
Q4 23	172M	+2.3%	+14.1%
Q2 24	178M	+3.7%	+17.2%
Q3 24	184M	+3.3%	+11.9%
Q3 25	4M	-98.0%	-97.8%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 18	$641.4K	15
Q3 18	$253.0K	15
Q4 18	$227.8K	18
Q1 19	$231.3K	18
Q2 19	$236.3K	18
Q3 19	$231.8K	18
Q4 19	$170.1K	32
Q1 20	$156.8K	32
Q2 22	$483.7K	49
Q4 22	$502.6K	56
Q2 23	$586.2K	56
Q3 23	$710.0K	56
Q4 23	$675.1K	70
Q2 24	$1M	70
Q3 24	$775.0K	70
Q3 25	$1M	100

Revenue / Employee