The 40% revenue growth target is largely driven by the anticipated expansion of the company’s new Fintech, Blockchain and IoT (Internet of Things) offerings launched in 2020.
United States, Jan 4, 2021 /AlexaBlockchain/ – iQSTEL, Inc. today announced a $60.5 million revenue forecast for FY 2021. The 40% revenue growth target is largely driven by the anticipated expansion of the company’s new Fintech and IoT (Internet of Things) divisions launched in 2020.
After announcing $39,725,507 in revenue through November 2020, Management expects FY 2020 revenues to exceed its $42 million FY 2020 revenue projection.
Highlights of IQST’s revenue growth potential include a recently announced Visa Prepaid Debit Card Service (PDCS) expected to generate estimated revenue over five years of $45 million to $128 million with an approximate EBITDA margin of 30% to 40%.
Further highlights include a recently announced agreement between Alternet Systems, Inc. (USOTC: ALYI), an electric vehicle (EV) innovator, and IQST’s IoT Division to codevelop Internet of Things (IoT) two-way device communication solutions specific to the EV operating environment.
In light of the recent exponential market adoption and expansion of blockchain technologies reflected through the rapid appreciation of cryptocurrencies, IQST management also anticipates notable revenue contributions from its own itsBchain subsidiary (www.itsBchain.com),