IQST - IQSTEL Confirms Closing of GlobeTopper Acquisition, Forecasting $34M Revenue and Positive EBITDA for H2 2025
NEW YORK, July 1, 2025 /PRNewswire/ -- IQSTEL Inc. (NASDAQ:IQST), a rapidly expanding multinational leader in telecommunications and emerging technologies, is pleased to announce that the previously disclosed acquisition of 51% of GlobeTopper (GlobeTopper.com) is now officially closed and effective as of July 1, 2025.
This milestone marks a major acceleration of IQSTEL's global fintech expansion strategy and positions the company to further solidify its path toward $1 billion in annual revenue by 2027.
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Strong Financial Outlook for 2025 and Beyond
With the transaction now finalized, GlobeTopper is a consolidated subsidiary of IQSTEL and will begin contributing to IQSTEL's financial results starting in July 2025.
GlobeTopper is forecasting:
$34 million in revenue and $0.26 million in EBITDA for the second half of 2025
Starting with $5 million in revenue for July
Scaling up to over $6 million in December 2025
Importantly, this forecast reflects only GlobeTopper's standalone performance. It does not yet include any additional upside from cross-selling or synergies with IQSTEL's extensive commercial platform, which serves over 600 telecom operators globally.
"We are confident that through the cross-selling of high-margin fintech products and integration with IQSTEL's global infrastructure, we plan to scale GlobeTopper to exceed a $100 million annual revenue run rate and $1 million in Adjusted EBITDA," said Leandro Iglesias, CEO of IQSTEL.
As disclosed in IQSTEL's 8-K filed on May 30, the Unit Purchase Agreement outlines GlobeTopper's forecast standalone of $85 million in revenue and $0.62 million in EBITDA for FY-2026, reinforcing the strength of the underlying business model.
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Reinforcing Strategic Vision
"We're thrilled to officially welcome GlobeTopper to the IQSTEL family," Iglesias added. "This acquisition brings us one step closer to our $400 million annual revenue run rate target and confirms that our $1 billion revenue vision is getting closer and closer to reality."
"I'm also confident that as we begin to report adjusted EBITDA in the millions, we will unlock meaningful shareholder value and significantly strengthen our capital markets position."
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