Key Highlights

● Preliminary third-quarter Revenue was about $106 million, announced on November 5, 2026.

● Nine-month revenue reached $314 million, described as a 35% organic increase.

● Management expects to reach its $430 million full-year revenue target.

● iQSTEL plans to acquire a 51% stake in Ultranet Telecom Group.

iQSTEL Inc. (NASDAQ:IQST) announced preliminary third-quarter 2026 revenue of about $106 million on November 5, 2026. The telecom and technology company said nine-month revenue reached $314 million, which it described as a 35% organic increase from a year earlier, and it reiterated a full-year goal that implies a stronger fourth quarter. A pending Acquisition could add further scale. The figures are preliminary company-reported numbers, not audited results.

Latest Company Context

According to reports of the company's November 5, 2026 announcement, preliminary third-quarter revenue was $106 million and nine-month revenue was $314 million. iQSTEL said it expects to reach its $430 million full-year revenue target, which would require about $116 million in the fourth quarter. That target is company guidance and depends on execution.

Earlier, in a July 16, 2026 release, the company reported preliminary first-half revenue of about $207 million, compared with $130 million in the first half of 2025, roughly 59% growth. The same release said iQSTEL operates in 21 countries with more than 600 carrier interconnections and estimated its platform could reach about 2.3 billion end users.

Key Business Drivers

iQSTEL's revenue base is primarily wholesale telecommunications, where carriers exchange voice and messaging traffic, a business that can scale quickly but typically carries thinner margins. The company is pairing it with what it calls IQSTEL Digital Services, covering AI communications, cybersecurity, Fintech and digital content distribution, which management positions as higher-margin.

Acquisitions are an important driver. The company has announced plans to acquire a 51% stake in Ultranet Telecom Group, which reportedly had $131 million in 2025 revenue. The company said that, if completed, combined annual revenue could exceed $560 million, and in July it said it expected to surpass an annual run rate of $500 million revenue and $8 million EBITDA following closing. These projections depend on a transaction that is still pending. A longer-term target of $700 million in revenue was also cited.

What Investors May Watch

Investors may watch several points. First is the formal third-quarter filing, which could show gross profit, EBITDA, net loss and cash. Second is whether the Ultranet transaction closes and how it is accounted for, since organic and acquired growth can look very different on a Margin basis. Third is the fourth-quarter revenue needed to reach $430 million, which is a step up from the third quarter.

Other items include progress in the digital services divisions, whether higher-margin revenue grows as a share of the total, and funding needs, as growth in wholesale telecom often requires working capital.

Growth Targets Await Proof

iQSTEL's latest update points to rapid top-line growth and an acquisition-led expansion strategy, yet key profitability and balance-sheet details remain to be confirmed in formal filings. The outcome of the fourth quarter and the Ultranet deal may shape how the story develops.