Leandro, iQSTEL has seen impressive growth over the past year. Can you share with us the key drivers behind the company’s 50% revenue increase in 2023?
Thank you. 2023 was indeed a remarkable year for iQSTEL. The 50% increase in revenue, bringing us to $140 million, was largely driven by the strength of our telecommunications division, which accounts for nearly 99% of our revenue. This growth was primarily organic, fueled by increased demand for our services and the strategic expansion of our existing customer base. The telecommunications sector remains our backbone, and it has provided the stability needed to explore and invest in other innovative divisions like fintech, electric vehicles, and AI-enhanced metaverse services.
Leandro Iglesias, CEO of iQSTEL
Looking ahead, you’ve mentioned significant revenue projections for 2024. What should shareholders expect in terms of growth and financial performance?
For 2024, we are projecting revenue to reach $290 million, nearly doubling our current figures. This growth will be driven not only by the continued strength of our telecommunications division but also by the revenue generation from our newer business divisions. As these divisions, particularly fintech and electric vehicles, begin to contribute more significantly, shareholders can expect a substantial boost in overall revenue. Our long-term goal is clear: to reach $1 billion in annual revenue by 2027, and we are well on our way to achieving this.
The QXTEL acquisition has been highlighted as a major milestone for iQSTEL. Can you elaborate on how this acquisition fits into your broader strategy?
The acquisition of a 51% stake in QXTEL is indeed a significant milestone for us. It aligns perfectly with our strategy to expand our global footprint and enhance our service offerings. QXTEL brings new customers across key markets in North America, Europe, Latin America, and Asia, and it strengthens our position in the international telecommunications landscape. This acquisition alone is expected to contribute significantly to our 2024 revenue, helping us reach the $290 million mark. Moreover, it positions us to compete among the top wholesale telecommunications providers globally.
Shareholders are often concerned about how companies manage their funds. How has iQSTEL ensured responsible financial management while continuing to grow?
At iQSTEL, responsible financial management is a top priority. We’ve been very strategic in how we allocate funds, ensuring that every dollar invested is used to drive growth and increase shareholder value. This is clearly reflected in our Revenue Per Share (RPS), which has grown from $0.57 in 2022 to $0.81 in 2023. We’ve maintained a disciplined approach to managing our operating expenses while also making calculated investments in high-potential areas like fintech, electric vehicles, and metaverse technology. This strategy has allowed us to grow sustainably while minimizing risk.
The electric vehicles (EV) division is gaining a lot of attention. What can you tell us about its future and the potential spinout you’ve mentioned?
The EV division is one of our most exciting growth areas. As we continue to hit our planned milestones, this division is on track to become a significant revenue driver. We are already working on the production and testing of our electric motorcycles, and we have plans to launch mid-speed electric vehicles as well. Given the division’s potential, we plan to spin it out as a separate public company once it reaches its growth targets. This move will unlock even greater value for our shareholders, allowing them to directly benefit from the success of the EV division as it scales.
Finally, Leandro, where do you see iQSTEL by 2027, and what message would you like to convey to your shareholders today?
By 2027, I see iQSTEL as a $1 billion revenue company, leading not only in telecommunications but also as a key player in fintech, electric vehicles, and AI-enhanced metaverse technologies. We are building a diversified, resilient business that is positioned for long-term success. To our shareholders, I want to say thank you for your continued support and trust. The journey we’re on is incredibly exciting, and the best is yet to come. We are committed to delivering exceptional value and making iQSTEL a leader in the industries we serve.
To stay informed about iQSTEL’s latest developments and growth trajectory, shareholders and potential investors are encouraged to follow the company’s updates closely. iQSTEL Inc. (OTC-QX: IQST) continues to demonstrate its commitment to innovation and expansion across multiple high-growth sectors. For more information about iQSTEL and its diverse portfolio, visit the company’s website at www.iqstel.com
Disclaimer: The article is for educational purposes only, not financial advice. Opinions are the author’s and not necessarily those of the company or The Ritz Herald. Investing in securities is risky, so do your research before making decisions. Companies mentioned may have paid in part for the article’s creation.
