iQSTEL Inc. (OTC: IQST) is pleased to announce that it has become profitable in the third quarter of 2022. This is a significant milestone for the company, which has been working towards profitability by the end of this year. The third quarter report showed a 68% increase in gross profit and a 128% reduction in operating loss. These results are even more impressive when compared to the previous quarter, in which there was a 33% increase in revenue and a 151% reduction in operating loss. The company is on track to meet or exceed its projected 90 million gross revenue forecast for 2022. With these strong results, the company is well positioned to continue its growth and create value for shareholders.
iQSTEL’s Path to Profitability
iQSTEL has been focused on achieving profitability by diligently managing its costs and growing its top-line revenue. The company has made significant progress on both fronts, as evidenced by the results achieved in the third quarter. Cost-cutting measures have helped to reduce operating expenses, while new contracts and partners have driven top-line growth. Going forward, iQSTEL will continue to focus on controlling costs and growing revenue in order to achieve sustained profitability.
The Importance of Profitability
Becoming profitable is a significant achievement for any company, but it is especially important for small-cap companies like iQSTEL. For many small-cap companies, achieving profitability is the key to unlocking further growth opportunities. Once a company becomes profitable, it can begin to reinvest its profits into growth initiatives such as marketing and new product development. This reinvestment can help a company to accelerate its growth and achieve even greater success in the future.
iQSTEL’s achievement of profitability in the third quarter is a significant milestone for the company. The strong financial results position the company well for continued growth and create value for shareholders. Going forward, iQSTEL will continue to focus on controlling costs and growing revenue in order to achieve sustained profitability. These new numbers also place them on track for their intended NASDAQ up listing.