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IQST - iQSTEL Announces Record Breaking Revenue and Gross Margin Reaching $46M YTD Revenue Before End of Q1
NEW YORK, March 21, 2024 /PRNewswire/ -- iQSTEL Inc. (OTC-QX: IQST) today announced the company's YTD revenue through March 17th surpassed $46 million based
About this update from Iqstel Inc.
[{"type":"text","content":"NEW YORK, March 21, 2024 /PRNewswire/ -- iQSTEL Inc. (OTC-QX: IQST) today announced the company's YTD revenue through March 17th surpassed $46 million based on preliminary accounting. $46 million is a new record high quarterly revenue with two weeks still left to go in the quarter. Q1-2024 will be the third straight consecutive revenue record breaking quarter in a row.\n\n \n \n \n \n \n \n\n \nAt the same time, the YTD gross margin has already exceeded the gross margin for the entire 4th Qtr. of FY2023. iQSTEL previously announced that Q4-FY2023 gross margin was a record high exceeding the previous record set in Q3-FY2023. Even with 2 weeks still left in Q1-FY2024, the company's gross margin record has been broken yet again now for a third consecutive quarter.\nYTD revenue and gross margin do not include any benefit from the QXTEL acquisition agreement announced on January 22, 2024 and it does not reflect any contribution from the Pro Forma financial statement published in conjunction with the QXTEL acquisition on February 8, 2024. \niQSTEL management confirms April 1st as the target date for closing the acquisition.\niQSTEL CEO Leandro Iglesias said, \"We have been consistently breaking one record after another quarter after quarter since Q3 last year. This is an important milestone for IQSTEL because we announced profitability in Q3-FY2023. We are very optimistic this trend will continue for Q2 FY-2024 and beyond enhanced further by the pending acquisition closing of QXTEL.\"\nAbout IQSTEL:\niQSTEL Inc. (OTC-QX: IQST) (www.iQSTEL.com) is a US-based, multinational publicly listed company preparing for a Nasdaq up-listing with an FY2023 $140 million revenue based on preliminary accounting. iQSTEL's mission is to serve basic human needs in today's modern world by making the necessary tools accessible regardless of race, ethnicity, religion, socioeconomic status, or identity. iQSTEL recognizes that in today's modern world, the pursuit of the human hierarchy of needs (physiological, safety, relationship, esteem and self-actualization) is marginalized without access to ubiquitous communications, the freedom of virtual banking, clean affordable mobility and information and content. iQSTEL has 4 Business Divisions delivering accessibly to the necessary tools in today's pursuit of basic human needs: Telecommunications, Fintech, Electr...