IQST - IQSTEL Publishes Earnings Review And Outlook After Reporting 88% Growth To $30.3 Million YTD
August 19 2021 - 9:27AM
InvestorsHub NewsWire
New York, NY -- August 19, 2021 -- InvestorsHub
NewsWire -- iQSTEL, Inc. (OTCQB:
IQST) today published an Earnings Review and Outlook Update
from CEO Leandro Iglesias.
The update follows the release of the Company’s Q2
financial statement for FY-2021 on Form 10Q reporting 88% revenue
growth to $30.3 Million in revenue year to date
(YTD) compared to $16.1 for the same period FY-2020. The
company has forecasted achieving $60.5 Million in revenue for the
full FY-2021.
In the Update included its entirety below, Mr.
Iglesias highlights key YTD performance achievements and discusses
the company’s plans moving forward emphasizing new product
developments and operational efficiencies expected to both increase
margins and grow sales potentially exceeding the company’s current
$60.5 million revenue forecast.
CEO Earnings Review and Outlook
Update
iQSTEL has experienced rapid organic growth over
the last two years combined with growth from an ongoing merger and
acquisition (M&A) campaign. The company has expanded and
transformed its core business to business (B2B) telecommunication
services base operation to become a multifaceted, diversified high
tech telecom applications company servicing both business (B2B) and
consumer (B2C) clients.
Our current business is running even better than
forecasted. Our current revenue forecast of $60.5 million is
based on revenue from existing services. It does not include
revenue we anticipate generating from new products we are
developing and implementing. Any new products introduced this
year will likely push us past the $60.5 million
forecast.
We continue to pursue M&A activity, and the
execution of one or more mergers or acquisitions this year could
also push us past the $60.5 million revenue
forecast.
As a result of past mergers and acquisitions we
have certain operating redundancies. We are in the process of
consolidating operations which we expect to both reduce overhead by
making operations more efficient, and, at the same time, increase
sales. Not only does the combination of companies through
merger and acquisition create operation redundancy. It also
combines complimentary services. We can increase the sale of
complimentary services by cross selling services from one operation
into the customer base of another.
iQSTEL has expanded and transformed its base
business from providing telecommunication services to other telecom
companies in a business to business (B2B) relationship to now
provide a wide host of telecom applications to both businesses, in
an ongoing B2B relationship, and to consumers. in a business to
consumer (B2C) relationship.
To optimize our business for both business and
consumer clients, pursuing increase the Revenue Growth Trend and
improve our EBITDA, we are implementing an organizational strategy
around our various product development and business development
efforts according to their business or consumer
targets.
We plan to organize the company into two divisions
– A B2B Division and a B2C Division, with some brand, management,
budget, marketing, and commercial strategy independence of each
other.
The B2B Division will focus on the
Telecom, Internet of Things, Blockchain market sectors and
consist of our Etelix, SwissLink, QGlobal, Smsdirectos, Iot Labs,
and itsBchain operating units.
The B2C Division will focus
the Electric Vehicle and Fintech market sectors and consist of our
EVoss and Global Money One operating
units.
Through our operating units mentioned above, iQSTEL
continues to develop new products expected to increase sales with
high margins, as we have done in the first half of the year with
MNPA (Blockchain), IoTSmartTank (2,500 devices for 500 fortune
chemical corporation), and MAXMO (MasterCard FinTech
Ecosystem). We expect sales in the second half of 2021 from
our current and new products that include our Enhanced Batteries,
Internet of Things, and Heads Up Display for the Revolt Ecosystem,
in addition to our independent EVoss Electric Motorcycle products
for Latin America, our Visa Money One (VIMO) offering, and our IoT
Smart Gas and Tank device rolling out now with a Fortune 500
client.
In addition to adding high margin sales
from new products that have the potential to take us past our $60.5
Million revenue forecast, we also intend to expand through our
ongoing M&A campaign and add yet further sales. We expect to
make some M&A announcements in the coming
months.
All of the above here mentioned
contributes to our uplisting objective. We remain committed
to an uplisting and will keep you up to date on our
progress.
Leandro Iglesias,
CEO
iQSTEL Inc
(OTCQB: IQST)
(www.iQSTEL.com)
is a US-based publicly-listed company with an Independent
Board of Directors offering leading-edge
Telecommunication, Technology and Fintech Services for Global
Markets, with presence in 15 countries. The company provides
services to the Telecommunications, Electric Vehicle
(EV), Financial Services, Chemical and Liquid Fuel
Distribution Industries. iQSTEL has 5 Business Divisions: Telecom,
Electric Vehicle (EV), Fintech, Technology and
Blockchain, with worldwide B2B and B2C customer relations operating
through its subsidiaries: Etelix, SwissLink, QGlobal SMS,
SMSDirectos, Global Money One, IoT Labs and itsBchain.
The Company has an extensive portfolio of products and services for
its clients: SMS, VoIP, international fiber-optic connectivity for
5G, Cloud-PBX, OmniChannel Marketing, EV Batteries, EV Chargers, EV
Battery Management System, EV IoT Connectivity, Mobile App For EV
Connectivity, EV Dashboard Display, Visa/Mastercard Debit
Card, Cryptocurrency Exchange Services, Money Remittance,
Mobile Top Up, IoT Smart Gas Platform, IoT Smart Tank
Platform, Mobile Number Portability Application MNPA (Blockchain
Platform) and Settlement & Payments Marketplace SPM (Blockchain
Platform).
Safe Harbor
Statement: Statements in this news release may be
"forward-looking statements". Forward-looking statements include,
but are not limited to, statements that express our intentions,
beliefs, expectations, strategies, predictions or any other
statements relating to our future activities or other future events
or conditions. These statements are based on current expectations,
estimates and projections about our business based, in part, on
assumptions made by management. These statements are not guarantees
of future performance and involve risks, uncertainties and
assumptions that are difficult to predict. Therefore, actual
outcomes and results may, and are likely to, differ materially from
what is expressed or forecasted in forward-looking statements due
to numerous factors. Any forward-looking statements speak only as
of the date of this news release and iQSTEL Inc. undertakes no
obligation to update any forward-looking statement to reflect
events or circumstances after the date of this news
release.
iQSTEL
Inc.
IR US Phone: 646-740-0907,
IR Email: investors@iqstel.com
Source: iQSTEL Inc. and its
subsidiaries: www.iqstel.com
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