IQSTEL Inc.

Overview

IQSTEL is a diversified technology group with a core telecom business and developing fintech and AI divisions. The company provides VoIP, SMS, IoT solutions, international fiber connectivity, digital wallet and remittance services, and AI-enabled software and platforms for enterprise and telecommunications use cases.

Operations and services

• Telecommunications: wholesale and retail voice, SMS, IoT services, and international connectivity through multiple subsidiaries.
• Fintech: digital wallet ecosystem, remittances, a MasterCard debit card product, and a US bank account offering.
• AI and software: Reality Border develops AI agents, customer engagement tools, call-center solutions, and integrations with telecom infrastructure.
• Strategic priorities include organic growth, integration of acquisitions, and development of AI- and blockchain-enabled solutions (for example, MNPA via ItsBchain).

IQSTEL operates a global network of more than 603 high-value interconnections and maintains offices in the US, Argentina, the UK, Switzerland, Turkey, and Dubai.

Scale and footprint

• Countries of operation (20): Argentina, Armenia, Austria, Canada, Colombia, Germany, Greece, Guatemala, India, Italy, Pakistan, Romania, Serbia, Spain, Switzerland, Turkey, UAE, UK, USA, Venezuela.
• Employees: 100 (as of December 31, 2025).
• Primary revenue mix: Telecom 91% of consolidated revenue in 2025 (100% in 2024); Fintech 9% of 2025 revenue; AI and other lines are pre-revenue or developing.

Divisions and major subsidiaries

Telecom Division

• Etelix.com USA LLC — US-based international telecom carrier (ILD wholesale and submarine capacity).
• SwissLink Carrier AG — 51% owned; Switzerland-based carrier with global VoIP connectivity.
• Smartbiz Telecom LLC — 51% owned; US-based international voice termination.
• Whisl Telecom LLC — 51% owned; US carrier serving carrier-to-carrier and retail endpoints.
• IoT Labs LLC — 51% owned; SMS traffic exchange US–Mexico.
• QGlobal SMS LLC — 100% owned; international and domestic SMS termination.
• QXTEL Limited — 51% owned; platform services for wholesale, retail and cloud (historical volumes include 5B+ voice and A2P SMS transactions); HQ in London with regional offices.

Fintech Division

• GlobeTopper LLC — 51% stake; digital gift cards and incentives platform (accounted for 9% of 2025 revenue).
• Global Money One Inc. — 75% owned; fintech ecosystem including MasterCard debit card, US bank account, remittances, and mobile top-up via mobile app.
• ItsBchain LLC — 75% owned; blockchain technology for telecom sector, including a mobile number portability tool.

AI Division

• Reality Border LLC — AI product development platform focused on web, voice, and contact center solutions and integration with telecom and security layers.
• Product concepts include Airweb.ai (customer engagement), IQ2Call.ai (call center), and IQCortex.ai (broader platform capabilities).

Financial summary (selected items)

• 2025 consolidated revenue: $316,899,498
  • Telecom: 91% ≈ $288,378,543
  • Fintech: 9% ≈ $28,520,955 (GlobeTopper’s contribution aligns with this amount)
• 2024 consolidated revenue: $283,220,442
  • Telecom: 100% of consolidated revenue in 2024
  • Voice services (2024): $187,194,236 (66.09% of 2024 revenue)
• Revenue concentration: 37 largest customers accounted for 90% of consolidated revenue in 2025.
• Accumulated deficit: $43,276,006 as of December 31, 2025. The company has a history of losses and identifies going-concern risk, with continued net losses likely in the near term absent financing or monetization of operations.

Cash, capital and risk context

• The company depends on external financing to support operations, acquisitions and growth.
• Regulatory exposure spans telecom and fintech regimes, including US FCC-related fees, money transmitter regulations, privacy and data protection, and cross-border compliance.
• Key risk areas include currency fluctuations, international operations, cybersecurity, and integration risks from acquisitions.

Recent developments

• GlobeTopper: 51% stake acquired in May 2025; closing occurred July 1, 2025.
• QXTEL Limited: expanded role as a UK-based hub with international interconnections.
• ItsBchain and IoT Labs: acquisitions to support telecom and blockchain-enabled portability and platform services.
• Metaverse and partnerships: early joint-venture discussions (Got My Idol/MOU) proposed a strategic 51% IQSTEL ownership in 2023–2024.
• Reality Border serves as the company’s AI innovation and product development arm, integrating AI with telecom infrastructure.

Public market status

IQSTEL began trading on the Nasdaq Capital Market under ticker symbol IQST on May 14, 2025.

Summary

IQSTEL operates a global telecom platform that generated roughly $288 million in telecom revenue in 2025, supplemented by a growing fintech business and an emerging AI division. The company is active in 20 countries, has about 100 employees, and manages a network of more than 603 interconnections. Total revenue for 2025 was approximately $316.9 million. The business continues to work through operating losses and an accumulated deficit, and it relies on external financing and execution of its multi-division strategy to drive future profitability.