NEW YORK – November 05, 2026 -- IQSTEL Inc. (NASDAQ: IQST) reported preliminary, unaudited nine-month 2026 revenue of about $314.0 million, up 35% from $232.7 million a year earlier, with all of the growth organic.
Third-quarter revenue came in at about $106.0 million, down 2.8% from the record $109.1 million in the second quarter. It was the second consecutive quarter above $100 million. Nine-month revenue rose by $81.3 million.
Q4 must deliver $116.0 million to hit the $430 million target
Nine-month revenue equals roughly 73% of IQSTEL's $430 million fiscal 2026 objective. Reaching the target requires about $116.0 million in the fourth quarter, a 9.4% step up from Q3.
Management points to a historical pattern of stronger second-half revenue but cautions that the pattern may not recur. The company also says there is no assurance the objective will be met.
Ultranet deal would add $130.9 million in audited annual revenue
IQSTEL has signed a binding memorandum of understanding to acquire a 51% controlling interest in Ultranet Telecom Group. Ultranet reported audited 2025 revenue of $130.9 million, up 30% year-over-year, and net income of $4.6 million. Closing is targeted for the first quarter of 2027, subject to definitive agreements, regulatory approvals and customary conditions.
IQSTEL expects the acquisition to make it cash-flow positive on a consolidated basis. For illustration only, if the $430 million objective is met and the deal closes, the combined annualized revenue base would exceed $560 million. The company's longer-term objective is $700 million in revenue.
IQSTEL closed the first Ultranet financing tranche on October 26
The tranche consists of up to $3 million in two-year senior secured, non-convertible promissory notes, plus pre-funded warrants to purchase up to 420,000 shares of common stock. The notes carry no conversion feature. The company flags dilution from the warrants and the secured nature of the notes among its risk factors.
CEO Leandro José Iglesias said, "Ultranet is our next step."
Telecom division runs 600 interconnections across 24 countries
IQSTEL's Telecom Division delivers international voice, SMS and connectivity through more than 600 carrier interconnections in 24 countries. The GSMA counted 2.3 billion unique mobile subscribers worldwide at the end of 2025.
In Digital Services, IQSTEL plans to distribute microdrama content from Colombia-based IDILIO TV, backed by a16z speedrun, through operator relationships using direct carrier billing. Omdia estimates global microdrama revenue reached $11 billion in 2025 and projects more than $14 billion in 2026 and $22 billion by 2030. It also estimates Brazil and Mexico had 44 million monthly active microdrama users in 2025. IQSTEL has not independently verified these projections.
The revenue figures are subject to completion of quarter-end closing and review procedures, and actual results may differ materially. Full third-quarter results will appear in the company's Form 10-Q.