IQSTEL Inc. (OTCQX: IQSTD) is moving quickly to redefine itself, shifting from a traditional global telecom player to a technology-driven company with a focus on high-margin services. The company’s latest initiative, led by its flagship subsidiary QXTEL, centers on the launch of a fully integrated eSIM and roaming connectivity platform, a move that could reshape its growth trajectory and market perception.
The transformation took center stage last week at International Telecoms Week (ITW 2025) in Washington, D.C. There, QXTEL introduced its new eSIM and Roaming Connectivity platform to a global audience of telecom leaders and decision-makers. The feedback was strong, reinforcing IQSTEL’s reputation as a reliable partner for next-generation mobility solutions.
QXTEL’s platform is a white-label, turnkey solution tailored for mobile network operators (MNOs) and enterprises, enabling them to launch their own branded eSIM and roaming products with flexible commercial models. The platform provides partners with ownership of their International Mobile Subscriber Identity (IMSI) and full network infrastructure, allowing for complete control and customization.
By leveraging QXTEL’s ability to negotiate data roaming agreements with over 40 mobile operators, partners can achieve significant cost reductions and improved profit margins. Additionally, QXTEL’s in-house developed Business Support System (BSS) supports scalability and rapid market entry, making it easier for partners to expand their offerings efficiently.
According to QXTEL CEO Tolga Alemdar, the company’s three-year plan centers on evolving into a provider of high-tech telecom services, while maintaining and expanding its core voice, messaging, and cloud numbering offerings. This shift is fully backed by IQSTEL and signals a new era for both QXTEL and its customers.
IQSTEL’s financial results reflect the momentum behind this transformation. For the first quarter of 2025, the company reported net revenue of $57.6 million, up 12% from $51.4 million in the same period last year. Gross profit rose 40% to $1.93 million, with gross margin improving to 3.36% from 2.68% a year earlier. The telecom division delivered adjusted EBITDA of $593,604.
The company has projected $340 million in revenue for the full year 2025, and management remains confident in its goal of reaching $1 billion in annual revenue by 2027. This growth is being driven by the expansion of high-margin services, strategic acquisitions, and a diversified portfolio that now spans telecommunications, fintech, artificial intelligence, and cybersecurity.
IQSTEL’s business model has shown consistent execution, with historical performance indicating stronger results in the second half of the year. The company operates in over 20 countries and employs around 100 professionals.
A key part of IQSTEL’s strategy is its planned uplisting to the NASDAQ. The company has already completed a reverse stock split to meet listing requirements and is pursuing a direct listing, as it meets the necessary equity thresholds. Management believes that a NASDAQ listing will prompt the market to re-evaluate IQSTEL, not just as a telecom provider, but as a technology company with global reach and a scalable, integrated platform.
IQSTEL’s current market capitalization stands at about 10% of its revenue, a figure that management sees as significantly undervalued compared to industry peers that typically trade at revenue multiples of 1.0x or higher. The company’s tight capital structure, combined with its growth strategy, could create substantial upside for shareholders if execution continues as planned.
IQSTEL’s pivot to high-tech services, highlighted by QXTEL’s eSIM and roaming rollout, is more than just a new product launch. It is a calculated move to capture higher margins, deepen customer relationships, and position the company for accelerated growth.
