IQSTEL closes GlobeTopper 51% acquisition; Q1 rev $57.6M, net income $0.25M

iQSTEL Inc

Q1 2025 revenue $57.6M (+12% YoY); gross profit $1.93M (+40% YoY); gross margin 3.36% vs 2.68%.
Closed acquisition of 51% of fintech GlobeTopper on May 29, 2025; Craig Span stays as CEO.
Signed MOU to sell ItsBchain to ASII; $500K worth of ASII shares to be distributed to IQST shareholders.
FY 2025 revenue forecast $340M; year-end run rate target $400M; on track for $1B by 2027.
Plans up to $1.2M investment over 2 years to scale GlobeTopper's tech, market expansion, and cross-selling.

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