iQSTEL Inc (OTCMKTS:IQST) is a US-based publicly-listed company providing leading-edge Telecommunication, Technology as well as Fintech Services for Global Markets and has a presence in 13 countries. The firm gives services to EVs, Telecom, Chemical, and Financial Services industries. The company has 4 divisions: Technology, Telecom, Fintech, and Blockchain, with B2B and B2C customer relations. It operates through its subsidiaries globally including Etelix, SwissLink, QGlobal SMS, SMSDirectos, IoT Labs, Global Money One, and itsBchain.
Having an extensive portfolio of products as well as services including SMS, VoIP, 4G & 5G international infrastructure connectivity, it has an Electric Vehicle Platform, Batteries for Electric Vehicles, Smart Gas Platform, Smart Tank Platform, and Settlement & Payments Marketplace.
Trading Data
On Tuesday, IQST stock moved up 2.43% to $0.3534 with 330k shares, compared to its average volume of 693K shares. The stock moved within a range of $0.3400 – 0.3690 after opening trade at $0.3410.
IQST – iQSTEL Announces 47% YTD Preliminary Revenue Growth Results To $43.4 M
iQSTEL, Inc on July 5, 2022, announced preliminary results for quarter two of 2022. The firm achieved $24 million in the second quarter exceeding 1st quarter results of $19.4 million by 23%. The year-to-date revenue is $43.4 million, a 47% increase as compared to $29.5 million during the same period last year.
The firm is on track for meeting or exceeding its $90 million 2022 annual revenue forecast with positive net income. The third-quarter outlook is robust with the firm adding new higher-margin revenue streams from products like Global Money One Maxmo VIP Fintech Product and EVOSS Electric Motorcycle.
Earlier, the firm announced that with the subsidiary, IoT Labs LLC, it has entered a memorandum of understanding with BASF Corporation for field testing award-winningIoTSmartTank technology.
IoTLabs has been engaged and is working with BASF through exploration, learning as well as installation of IoTSmartTank Devices at BASF plant. IoTSmartTank devices were first installed in October 2021. The platform enables a novel, non-intrusive manner for monitoring specific chemical storage parameters needed for managing asset locations, safety, and performance.
The IoTSmartTank technology has been developing since the onset of BASF evaluation. iQSTEL is committed to supporting technology deployment at BASF. The company is confident that the IoTSmartTank solution, powered by a rechargeable battery, can analyze asset usage and location. IoTSmartTank can provide ‘at-a-glance’ analytics and an array of readings on demand. This will be possible by incorporating hardware with an integrated mobile app.
Technical Data
IQST stock is trading below the 20-Day and 50-Day Moving averages of $0.38 and $0.42 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.52.
