IQSTEL reports Q3 revenue of $106M, nine-month sales up 35%

IQSTEL Inc., a telecommunications and technology company traded on the NASDAQ under the ticker symbol IQST, disclosed its preliminary, unaudited financial results for the third quarter ended September 30, 2026, and the first nine months of 2026. The company reported revenue of approximately $106.0 million for Q3 and $314.0 million for the nine months, marking a 35% increase compared to $232.7 million in the same period last year.

This growth was driven by organic expansion within the company. Third-quarter revenue, however, saw a slight dip of 2.8% from $109.1 million reported in the second quarter of 2026. IQSTEL had set a $430 million revenue target for fiscal year 2026, and the nine-month results account for 73% of that goal. To achieve the target, the company would need to generate around $116.0 million in fourth-quarter revenue, representing a 9.4% increase from the third quarter.

The business has entered into a binding memorandum of understanding to acquire a 51% controlling stake in Ultranet Telecom Group, a company with audited fiscal year 2025 revenue of $130.9 million. The acquisition is expected to close in the first quarter of 2027, pending final agreements, regulatory approvals, and other customary closing conditions.

On October 26, IQSTEL secured the first tranche of financing for the Ultranet transaction, securing up to $3 million in two-year senior secured, non-convertible promissory notes, along with pre-funded warrants to purchase up to 420,000 shares of common stock. Revenue figures presented are preliminary, unaudited, and subject to completion of quarter-end closing and review procedures.

The complete third-quarter results will be disclosed in the company's Form 10-Q filing. This report was produced with the assistance of AI and has been reviewed by an editor.