iQSTEL reports first profitable quarter; Q3 revenue up 33% to $21.94M

iQSTEL Inc

2022-Q3 EPS reported -$0.01 revenue$65,055,661

Q3 2022 revenue $21.94M (+33% YoY); YTD through Sep $65M, on track for $90M annual forecast.
First operating income positive quarter: operating income $58,813 (vs loss $116K YoY); net income $27,312.
Stockholders' equity $9.2M (+172% YoY), surpassing Nasdaq minimum listing requirement.
October 2022 preliminary revenue $9.4M (+83% YoY); YTD through Oct $74.4M.
Gross profit margin improved to 5.99% from 5.09% YoY; gross profit up 56% to $1.31M.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

iQSTEL Inc reported the quarter ended September 30, 2022 results: revenue $21.94 million, net income 27,312. Guidance reaffirmed.

Period: the quarter ended September 30, 2022
Revenue: $21.94 million
Net income: 27,312
Guidance: reaffirmed
Result: reported results

Exact text from the filing

iQSTEL, Inc. (OTCQX: IQST) today announced filing its Q3 financial report for FY 2022. The company realized a 33% increase in revenue to $21.94 million in Q3 compared to the same period in 2021. YTD revenue through September 30, 2022, is over $65 million keeping the company well on track to meet or exceed its $90 million 2022 annual revenue forecast. Notably, iQSTEL reported its first operating and consolidated income positive period in Q3 achieving one of the company ́s financial objectives for FY-2022 earlier than anticipated.

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Source: SEC EDGAR

accession 0001663577-22-000665

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