IQSTEL Inc. (IQST) released its 2026 Shareholder Letter on Tuesday, laying out what can only be described as an ambitious growth strategy. The company is setting its sights on a $15 million adjusted EBITDA run rate, expanding its telecom footprint to nearly 30 countries, and scaling up higher-margin services in fintech, cybersecurity, and AI. Oh, and they're keeping their dividend policy intact while doing all this.
The letter reads like a company that knows exactly where it wants to go and has a pretty detailed map to get there. Let's break down what they're planning.
Consolidation Before Expansion
IQSTEL's top priority for 2026 is getting its house in order. The company plans to acquire 100% ownership of several strategic telecom subsidiaries it doesn't fully own yet. At the same time, they're working to migrate most of their telecom operations onto a single unified technology platform. Eventually, all the subsidiaries they fully own will be on this consolidated system.
Why does this matter? According to the company, this consolidation will meaningfully reduce operating costs and make it easier to scale. It's the classic "integrate before you grow more" playbook, which makes sense when you're managing operations across multiple countries.
On the expansion front, IQSTEL currently holds telecom licenses in the U.S. and Switzerland. In 2026, they plan to add licensing in at least three more countries. They're also eyeing additional telecom acquisitions that would expand their commercial footprint into at least six new countries, bringing them close to operating in approximately 30 countries worldwide.
The Path to $1 Billion
Here's where things get interesting. IQSTEL isn't just targeting $15 million in adjusted EBITDA for 2026 as an end goal. They see it as a milestone on the path to becoming a $1 billion revenue run-rate company by 2027. That's a big jump, and they know it.
The company also wants to close what it sees as a valuation gap. They're aiming first for a 10x EBITDA multiple, then positioning themselves for a 20x EBITDA valuation by 2027. Whether the market agrees with that assessment remains to be seen, but it shows they're thinking about more than just top-line growth.
The revenue mix is shifting too. Following the Globetopper acquisition, fintech services now represent roughly 20% of both revenue and EBITDA. That's a meaningful chunk, and it's higher-margin business than traditional telecom.
New Services Rolling Out
IQSTEL plans to officially launch cybersecurity services for the telecom industry in 2026, developed with support from its sibling company, Cycurion (CYCU). The company expects this new business line to contribute about 5% of bottom-line results during the year.
They're also continuing to develop AI-based solutions for telecom, again working with Cycurion, while expanding commercial deployment of AI-driven services for the contact center industry. It's a multi-pronged approach to moving up the value chain beyond basic telecom services.
Getting Closer to Shareholders
On the investor relations front, IQSTEL is planning a roadshow focused on family offices with the goal of increasing institutional and long-term holdings from approximately 5% to 10%. They're also planning to launch quarterly live earnings calls with shareholders, which should provide more transparency and regular communication.
The company continues to maintain its recurring dividend policy, which is notable for a growth-focused company making acquisitions and expanding rapidly.
IQST Price Action: IQSTEL shares were up 5.50% at $3.07 during premarket trading on Tuesday.
