Key Highlights

  • First-half 2026 revenue rose 59% to $207 million.
  • Common shares outstanding more than doubled to 10,915,859 as of August 18.
  • Net loss attributable to the company was $4.0 million for the half year.
  • The Ultranet Telecom acquisition is expected to add about $130 million of annual revenue.

Revenue growth tells only part of a company's story; the number of shares sharing in the result matters too. iQSTEL Inc. (NASDAQ:IQST), a telecommunications and digital services group, reported first-half 2026 revenue of $207 million, up 59%. Over the same stretch, its common share count more than doubled, a combination that frames how investors may read per-share results and the company's acquisition plans.

A Growing Share Base

According to iQSTEL's quarterly filing for the period ended June 30, 2026, common shares outstanding rose to 10,052,672 from 4,668,017 at December 31, 2025, and the cover page listed 10,915,859 shares as of August 18. The filing says 247,140 Series D preferred shares were issued during the half year to settle debt, valued at about $4.4 million. Net loss attributable to the company was $4.0 million for the half and $2.6 million for the second quarter, equal to a loss of $0.38 per share for the quarter. Cash was $2.09 million, and the filing includes standard going-concern language flagging conditions that raise substantial doubt about the company's ability to continue operating.

Pursuing Scale Through Acquisition

Management says it has more than 600 operator relationships, with telecom remaining the majority of revenue. Gross profit was $4.8 million for the half on $207 million of sales, a thin margin typical of wholesale voice and messaging traffic. The company is pursuing the Ultranet Telecom acquisition, which it describes as adding about $130 million of annual revenue and about six more countries, with an expected adjusted EBITDA run rate above $8 million after closing, up from roughly $2.7 million currently. On the August earnings call, management said it had no convertible notes or warrants outstanding.

Growth Financed by Issuance

iQSTEL's story combines fast-growing, low-margin telecom volume with an effort to shift toward higher-margin digital services and acquisitions. The share count shows how that growth has been financed so far, and stockholders' equity of $17.2 million at June 30 exceeds the company's market value, according to management, a gap that the pace of further issuance could continue to influence.