Business
IQST - iQSTEL Reveals Next Stage Plans for Accelerated Revenue Growth and Profit Expansion Beyond $290 Million 2024 Annual Revenue Forecast
NEW YORK, June 20, 2024 /PRNewswire/ -- iQSTEL Inc. (OTC-QX: IQST) (www.iQSTEL.com) a US-based, multinational, fully reporting and audited publicly listed
About this update from Iqstel Inc.
[{"type":"text","content":"NEW YORK, June 20, 2024 /PRNewswire/ -- iQSTEL Inc. (OTC-QX: IQST) (www.iQSTEL.com) a US-based, multinational, fully reporting and audited publicly listed telecommunications and technology company preparing for a Nasdaq up-listing today revealed next stage plans for accelerated revenue growth and profit expansion beyond its recently announced $290 million 2024 annual revenue forecast.\n \n Initial Acquisition and Corresponding Organic Growth Strategy\niQSTEL executed acquisitions in 2022 and 2021 and reported annual revenue growth of approximately 44% each year. In 2023, the company executed no acquisitions and reported revenue growth of approximately 55% driven completely by organic sales expansion.\nThe company's increased organic growth in 2023 demonstrates the effectiveness of our ability to integrate acquired operations. By making acquired businesses part of iQSTEL's overall product portfolio, we are able to drive increased organic growth through cross selling and collective sales efficiencies.\nBased on acquisition activity earlier this year and anticipated downstream organic growth, the company has recently announced a $290 million FY-2024 revenue forecast that includes $7.5 million in gross profit with a positive operating income of seven digits.\nThe operational efficiency from streamlining multiple operations takes more time to flow to the bottom line than do the benefits of increased revenue. The company expects even greater bottom line benefit next year resulting from the revenue growth we achieve this year.\nNext Stage Plans for Accelerated Revenue Growth and Profit Expansion\nWhile the acquired revenue, subsequent organic revenue growth and bottom line benefits have been tremendous to date, management intends to drive sales and profits even further.\niQSTEL still operates as a holding company of individual operations. The sales synergies and operating efficiencies can be further improved by incorporating the individual operations into a unified commercial corporation.\nFor the first time, iQSTEL is to today revealing its plan to consolidate each operating subsidiary and to integrate each subsidiary into a unified commercial corporation.\nThis commercial consolidation plan will enhance the company's customer´s service offer verses the current subsidiaries independent commercial approach.\nManagement expects to reali...