Blockchain
IQST – iQSTEL Announces 36% Gross Profit Increase On Q1 Revenue Of $22.9 Million
iQSTEL Inc. (OTCQX: IQST) today announced the company’s Q1 2023 revenue reached $22.9 million based on preliminary accounting. Revenue grew in Q1 2023 by 18% compared to the same period last year. The company’s gross profit of approximately $780,000 based on preliminary accounting increased by 36% in Q1 2023 compared to the same period last year.
The company recently published its 2022 annual report on SEC Form 10K, and a Shareholders Letter explaining the details.
Revenue for the year ended December 31, 2022 was $93,203,532 compared to $64,702,018 recorded in the previous year representing an increase of 44% from 2021 to 2022.
The company reported a gross profit of nearly $1.8 million for the year ended December 31, 2022. The Q1 2023 gross profit of $780,000 is already 43% the gross profit reported for the entire year in 2023.
The table below summarizes iQSTEL’s gross profit growth through Q1-FY2023:
|
EOY-FY2022 |
Q1 – FY2022 |
Q1-FY2023 |
||
|
Revenue (US$ Million) |
93.2 |
19.42 |
22.9 |
|
|
Gross Profit (US$ Thousand) |
1791 |
484 |
780 |
Note 1 |
|
% of Gross Profit |
1.92 % |
2.49 % |
3.41 % |
|
|
% of Gross Profit Growth Vs Q1 -FY2022 |
36 % |
|||
|
% of Gross Profit Growth Vs EOY-FY2022 |
77.25 % |
|||
|
Note 1: This value represents 43.55% of the Gross Profit of EOY-FY2022 |
||||
“With iQSTEL’s maturing operations we are seeing improved profit margins,” commented Leandro Iglesias, CEO of iQSTEL. “Revenue growth remains high with the company on track to meet or exceed its $105 million 2023 forecast. Historically the second half of the year is better in terms of commercial activity. Therefore, we feel confident about reaching or exceeding our revenue objective of $105 million. Now we are tuning the operational engine that drives our monster growth and seeing better fuel efficiency through our profit margin improvements. iQSTEL has a very sound operation running under its hood. I expect our track record highlights for 2023 to be breaking $105 million in revenue and reporting our first annual positive operating income. The Q1 2023 gross profit performance bolsters our confidence.”
WadzPay, a leading fintech company specialising in blockchain based technology for virtual asset payment solutions, is proud to announce its plan to enter the Stablecoin business, marking a significant expansion of its offerings. With a steadfast commitment to innovation and addressing evolving market demands, the company has strategically positioned itself to capitalise on the growing opportunities within the virtual asset financial services space.
ZettaBlock, a leading provider of blockchain solutions, has recently announced a significant enhancement to its offerings with the addition of blockchain data services. This development marks a strategic move aimed at bolstering ZettaBlock’s capabilities and further solidifying its position in the blockchain industry.
By integrating blockchain data services into its portfolio, ZettaBlock seeks to address the growing demand for comprehensive and reliable data solutions within the blockchain ecosystem. The new offering will enable clients to access a wealth of blockchain data, empowering them to make informed decisions and derive valuable insights from the vast amount of information available on various blockchain networks.
ZettaBlock’s decision to expand its services comes at a time when the importance of blockchain data analytics is increasingly recognized across industries. With blockchain technology continuing to gain traction and adoption worldwide, the ability to effectively harness and analyze blockchain data has become crucial for businesses and organizations seeking to unlock new opportunities and drive innovation.
Through its blockchain data services, ZettaBlock aims to cater to the diverse needs of its clients, providing them with access to real-time and historical data from a wide range of blockchain networks. This includes transaction data, smart contract metrics, network activity, and more, allowing users to gain deeper insights into blockchain transactions and activities.
The addition of blockchain data services represents a significant milestone for ZettaBlock, underscoring the company’s commitment to delivering cutting-edge solutions that meet the evolving needs of the blockchain industry. As businesses increasingly recognize the value of blockchain data in driving decision-making and enhancing operations, ZettaBlock’s comprehensive data services are poised to play a key role in shaping the future of blockchain analytics.
Source: cryptonewsz.com
The post ZettaBlock announces the addition of blockchain data appeared first on HIPTHER Alerts.
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