IQSTEL announced that its board of directors has approved a share repurchase program authorizing the company to buy back up to 1 million shares of common stock. The Nasdaq-listed telecom and technology company said the program reflects management’s belief that the current market valuation does not adequately reflect the company’s assets, operating platform, and long-term growth prospects.
The repurchase program will be funded, in whole or in part, through cash dividends received from QXTEL, one of IQSTEL’s operating subsidiaries. The company said it has transformed itself into a diversified technology group with operations spanning telecom, fintech, artificial intelligence, cybersecurity, and digital services. IQSTEL currently operates in 21 countries and maintains relationships with more than 600 telecom carriers, reaching approximately 2.3 billion end users worldwide.
Management said the company has expanded revenue, strengthened its balance sheet, completed strategic acquisitions, and achieved a Nasdaq listing while eliminating outstanding convertible notes and warrants. IQSTEL also recently signed a binding memorandum of understanding to acquire a 51% stake in Ultranet Telecom Group. Based on Ultranet’s audited fiscal 2025 financial statements, the company expects the transaction to increase net income from operations by approximately four times and contribute about $4.5 million in annual net income.
IQSTEL said the share repurchase authorization is part of a broader strategy aimed at addressing what management views as a disconnect between the company’s market capitalization and the intrinsic value of its business. Additional details regarding the program are expected to be disclosed in a Form 8-K filing with the Securities and Exchange Commission.
