iQSTEL Inc.

IQSTEL reported consolidated Q1 2026 revenue of $97.9 million, up 70% year over year from $57.6 million. Gross revenue before eliminations was $98.6 million. Gross profit was over $2 million, up 7.8% year over year, and GlobeTopper contributed $829,000 of gross profit, or 42% of consolidated gross profit. Management said telecom divisions represented 87% of revenue and fintech contributed 13%, adding almost $13 million in its first full comparable quarter. Adjusted EBITDA for operating subsidiaries remained strongly positive, while consolidated adjusted EBITDA was nearly breakeven. Looking ahead, management reaffirmed its previously announced $430 million revenue target for 2026 and said it remains focused on improving EBITDA, operating leverage, and profitability as higher-margin digital services scale.

Leandro Iglesias emphasized that IQSTEL is no longer just a telecom company, but a global commercial platform with more than 600 telecom operator relationships, operations in 21 countries, six commercial offices, and reach to about 2.3 billion end users. He framed that distribution network as the company’s moat because it lowers customer acquisition cost, execution risk, and go-to-market time for new digital services. His tone was optimistic and transformational, saying the company is entering a monetization phase after years of building the platform and that the current opportunity is to sell high-margin services through existing trusted relationships.

Alvaro Quintana focused on the financial mix and profitability outlook. He said revenue reached $97.9 million, gross profit was over $2 million, and GlobeTopper contributed $829,000 of gross profit; he also noted adjusted EBITDA at the operating-subsidiary level remained strongly positive while consolidated adjusted EBITDA was nearly breakeven. He highlighted a clean capital structure with no convertible debt and no earnout outstanding, and said book equity per share is nearly $3 versus a stock price around $1.30. He also said technology spending is increasing to complete AI-driven solutions and the switching platform, which should support future efficiencies and higher-margin revenue.

Barry Sine asked about the pace of selling digital services into IQSTEL’s carrier base and what investors should expect later in the year. Leandro said the company has been actively launching cybersecurity, digital health, and fintech services, has already had several meetings with large telecom carriers at International Telecoms Week in Washington, D.C., and is seeing strong interest because partners trust the existing relationship. When asked about profitability, Alvaro said these services carry margins above 25%, with AI expected to approach a 40% gross margin, and he said the company expects meaningful EBITDA and net income improvement as the offerings scale. Management also said Jorge Enrique Becerra’s background in selling digital services to over 100 million end users is helping accelerate traction.