iQSTEL raises FY2023 revenue forecast to $120M; Q2 revenue $32.5M (+32% QoQ)

iQSTEL Inc

Annual revenue forecast increased from $105M to $120M after record monthly sales above $11M in April and May.
Q2 preliminary revenue of $32.5M vs Q1 $24.6M, a 32% sequential increase; H1 revenue $57.2M.
Consolidating telecom subsidiaries Etelix and SwissLink under SwissLink brand, expected to improve bottom line by $500K starting Q3.
Q1 2023 net loss $158.8K on revenue $24.7M; operating loss $317.5K; cash from ops $197K.
CEO states company on pace to exceed $120M annual forecast and expects 2023 to be best year since 2018 launch.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

iQSTEL Inc reported FY-2023 results: revenue $120 million. Guidance raised.

Period: FY-2023
Revenue: $120 million
Guidance: raised
Result: guidance update

Exact text from the filing

iQSTEL Inc. (OTCQX: IQST ) today announced increasing its annual revenue forecast from $105 million to $120 million after reaching a record high level of sales for one month in April and then breaking that record in May.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

iQSTEL Inc reported Q2-2023 results: revenue $32.5 million. Guidance reaffirmed.

Period: Q2-2023
Revenue: $32.5 million
Guidance: reaffirmed
Result: preliminary results

Exact text from the filing

iQSTEL Inc. (OTCQX: IQST), today announced revenue for Q2-2023 exceeded expectations. Based on preliminary accounting, iQSTEL achieved $32.5 million in revenue in Q2 compared to $24.6 million in revenue for Q1, an increase of 32% quarter to quarter.

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Source: SEC EDGAR

accession 0001663577-23-000360

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