iQSTEL Inc. (NASDAQ: IQST) has announced that preliminary Q2 2021 financial results in which revenue was $15.5 million.
iQSTEL surpassed $5 million in revenue in each month in Q2
The company surpassed revenue of $5 million in each month in Q2 2021, and as a result, management expects the company to achieve or surpass its fiscal 202 revenue forecast of $60.5 million.
So far, revenue year to date is around $29.7 million, which is a reflection of iQSTEL’s passion for execution. Recently, iQSTEL CEO Leandro Jose Iglesias told shareholders that the company’s target is not only to reach its revenue forecast of around $60.5 million but to exceed it.
Leandro Iglesias said, “We are halfway through the year, and historically we have grown more in the second half of the year than in the first half. We are really excited about all of iQSTEL’s initiatives to include, MNPA, MAXMO, and IoTSmartTank – all of which are very close to beginning to make top and bottom line contributions, adding revenues with high EBITDA.”
iQSTEL is debt-free
In January, the company announced that it had eliminated all its convertible debt and warrants, which it exchanged with Standard Commercial Promissory Notes. iQSTEL noted on January 14 that its debt had reduced by 48% to 1.5 million, and by February 17, the company became debt-free, eliminating all promissory notes, convertible notes, settlement agreements, and warrants. In addition, the company commenced its second merger campaign in March, which resulted in t5he acquisition of IoT Labs, Swisslink, ItsBcahins, and QGobal SMS.
For the second half of the year, the company will continue with a similar passion for execution by developing new services and products through its 5 Business Divisions and generating revenue and positive EBITDA. In addition, management will keep advancing the company towards Nasdaq up-listing by strengthening corporate governance and enhancing operations.