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Critical incident detected

Existential event

Time-sensitive event — see the red-flag panel below for the source-quoted detail.

Red Flags Detected

  • Material Weakness (worsened) — Material weaknesses in internal controls persist unchanged; remediation timeline extended from fiscal 2025 to fiscal 2026 with no progress reported.
  • Going Concern (worsened) — Management now self-identifies substantial doubt about going concern (previously attributed only to auditor), with accumulated deficit growing $10.6M to $43.3M.
  • Goodwill Impairment (new) — Recorded $2.17M non-cash goodwill impairment across SwissLink, IoT Labs, Smartbiz, and Whisl subsidiaries, signaling underperformance versus acquisition expectations.
NASDAQ: IQST iQSTEL Inc 10-K

iQSTEL exits EV, pivots AI from metaverse to enterprise; loss widens to $8.5M on $2.2M impairment

Filed April 6, 2026 · Period ending December 31, 2025 · Compared to 10-K Mar 31, 2025 · ~1 min read

Key Changes

  • high

    Net loss widened 64% to $8.5M despite 12% revenue growth, driven by $2.2M goodwill impairment across four subsidiaries and rising operating expenses that outpaced revenue gains.

    MD&A: Financial Results verify on EDGAR →
  • high

    GlobeTopper acquisition (July 2025) contributed 9% of revenue, diversifying beyond 100% telecom for the first time; fintech now represents $28M of $317M total revenue.

    Business: GlobeTopper verify on EDGAR →
  • high

    AI division Reality Border pivoted from metaverse platform to enterprise AI software (Airweb.ai, IQ2Call.ai, IQCortex.ai) for telecom and contact-center applications.

    Business: AI Division verify on EDGAR →

2 more material changes behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.

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View original filing on SEC.gov View full financials on EDGAR ↗

Source-verified from EDGAR · Narrative written by AI · Jun 3, 2026 · How we verify