IQST: The Road To $1 Billion

Checkers
May 22
3 min read

Most companies arrive at major exchanges with grand promises and modest numbers. iQSTEL Inc. (NASDAQ: $IQST) has flipped that script entirely. When IQST began trading on NASDAQ earlier this month, it arrived with $283.2 million in 2024 revenue already delivered, representing nearly 96% year over year growth. The first quarter of 2025 continued this remarkable trajectory with $57.6 million booked, putting the company firmly on track toward its $340 million annual target and $400 million year end run rate. The billion dollar vision for 2027 suddenly looks less like ambition and more like mathematics.

Unlike typical newcomers to the NASDAQ, IQST built its empire first and then stepped into the spotlight. This telecom and technology powerhouse now spans 21 countries with over 600 carrier relationships and 100+ employees managing a sophisticated global infrastructure. Strategic acquisitions fuel the IQST growth engine. The 51% acquisition of QXTEL in April 2024 delivered $85 million in revenue over just nine months and nearly $1 million in EBITDA. Not content to rest, IQST signed an agreement in March 2025 to acquire 51% of GlobeTopper, a fintech company that generated $39.4 million in 2024 and forecasts $60 million in 2025. These acquisitions are not speculative plays but calculated moves to absorb proven revenue generators into a rapidly expanding ecosystem.

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While the telecom services provide IQST with substantial cash flow, the company has aggressively diversified. Its high-margin technology portfolio now includes fintech services, cybersecurity solutions through an exclusive deal with Cycurion, and AI customer service via the innovative Airweb AI platform. These technology divisions, targeted to represent 20% of revenue by the end of 2025, establish multiple growth vectors beyond traditional telecom.

Perhaps most impressive is how IQST engineered its NASDAQ debut without diluting shareholders. The company completed its uplisting without issuing new shares, maintaining a tight float of approximately 2.9 million shares. This disciplined approach to capital structure has created remarkable per share metrics: over $100 in revenue per share, $14.58 in assets per share, and $4.38 in equity per share. With a market cap of approximately $30 million, IQST trades at a price to sales ratio around 0.10x, a significant undervaluation compared to NASDAQ peers who see valuations ranging from 1-2x sales.

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The path forward is clearly defined. For 2025, IQST targets $340 million in total revenue and seven-figure net income. Q1 2025 already delivered $57.6 million in revenue and $250,000 in net income, demonstrating the transition to profitable expansion is well underway. The NASDAQ uplisting represents more than a change in trading venue. It opens doors to institutional investors previously unable to participate in the IQST story and expands access through platforms like Trading212, creating a powerful platform for the next phase of growth.

For those who missed the early chapters, IQST offers a rare opportunity: a proven revenue machine with transparent financials, multiple growth vectors, and a clear roadmap to $1 billion. In a market dominated by promise rather than performance, IQST stands out as a company that built first and talked later. The billion dollar milestone is no longer a question of if, but when.

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