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Side-by-side financial comparison of C3.ai, Inc. (AI) and iQSTEL Inc (IQST). Click either name above to swap in a different company.
iQSTEL Inc is the larger business by last-quarter revenue ($84.2M vs $75.1M, roughly 1.1× C3.ai, Inc.). iQSTEL Inc runs the higher net margin — -3.2% vs -139.3%, a 136.1% gap on every dollar of revenue. On growth, iQSTEL Inc posted the faster year-over-year revenue change (-14.9% vs -20.3%). iQSTEL Inc produced more free cash flow last quarter ($-1.2M vs $-46.9M). Over the past eight quarters, iQSTEL Inc's revenue compounded faster (28.0% CAGR vs -2.1%).
C3.ai, Inc. is a leading enterprise artificial intelligence software provider that develops and delivers scalable AI applications, platform tools, and industry-specific solutions for clients across sectors including manufacturing, energy, financial services, healthcare and public sector. Its offerings help organizations optimize operations, reduce costs, mitigate risks, and realize data-driven decision making.
iQSTEL Inc is a technology holding company operating three core segments: telecommunications, Internet of Things (IoT), and fintech. It offers connectivity services, smart IoT monitoring solutions, and digital financial tools, mainly serving small and medium-sized enterprises and retail customers in North and South American markets.
AI vs IQST — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $75.1M | $84.2M |
| Net Profit | $-104.7M | $-2.7M |
| Gross Margin | 40.4% | 3.5% |
| Operating Margin | -149.2% | -2.9% |
| Net Margin | -139.3% | -3.2% |
| Revenue YoY | -20.3% | -14.9% |
| Net Profit YoY | -58.7% | -44.5% |
| EPS (diluted) | $-0.75 | $-0.92 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $75.1M | $84.2M | ||
| Q3 25 | $70.3M | $102.9M | ||
| Q2 25 | $108.7M | $72.2M | ||
| Q1 25 | $98.8M | $57.6M | ||
| Q4 24 | $94.3M | $98.9M | ||
| Q3 24 | $87.2M | $54.2M | ||
| Q2 24 | $86.6M | $78.6M | ||
| Q1 24 | $78.4M | $51.4M |
| Q4 25 | $-104.7M | $-2.7M | ||
| Q3 25 | $-116.8M | $-2.3M | ||
| Q2 25 | $-79.7M | $-2.3M | ||
| Q1 25 | $-80.2M | $-1.1M | ||
| Q4 24 | $-66.0M | $-1.9M | ||
| Q3 24 | $-62.8M | $-773.0K | ||
| Q2 24 | $-72.9M | $-2.0M | ||
| Q1 24 | $-72.6M | $-580.2K |
| Q4 25 | 40.4% | 3.5% | ||
| Q3 25 | 37.6% | 2.7% | ||
| Q2 25 | 62.1% | 2.6% | ||
| Q1 25 | 59.1% | 3.4% | ||
| Q4 24 | 61.3% | 2.7% | ||
| Q3 24 | 59.8% | 3.7% | ||
| Q2 24 | 59.6% | 2.8% | ||
| Q1 24 | 57.8% | 2.7% |
| Q4 25 | -149.2% | -2.9% | ||
| Q3 25 | -177.7% | -0.5% | ||
| Q2 25 | -81.8% | -0.9% | ||
| Q1 25 | -88.7% | -1.0% | ||
| Q4 24 | -79.8% | -0.3% | ||
| Q3 24 | -83.2% | -0.1% | ||
| Q2 24 | -95.1% | -0.4% | ||
| Q1 24 | -105.3% | -0.4% |
| Q4 25 | -139.3% | -3.2% | ||
| Q3 25 | -166.2% | -2.3% | ||
| Q2 25 | -73.3% | -3.3% | ||
| Q1 25 | -81.2% | -2.0% | ||
| Q4 24 | -69.9% | -1.9% | ||
| Q3 24 | -72.0% | -1.4% | ||
| Q2 24 | -84.2% | -2.5% | ||
| Q1 24 | -92.6% | -1.1% |
| Q4 25 | $-0.75 | $-0.92 | ||
| Q3 25 | $-0.86 | $-0.68 | ||
| Q2 25 | $-0.60 | $-0.82 | ||
| Q1 25 | $-0.62 | $-0.44 | ||
| Q4 24 | $-0.52 | $-1.19 | ||
| Q3 24 | $-0.50 | $-0.40 | ||
| Q2 24 | $-0.59 | $-0.90 | ||
| Q1 24 | $-0.60 | $-0.37 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $675.0M | $2.2M |
| Total DebtLower is stronger | — | $4.1M |
| Stockholders' EquityBook value | $771.9M | $16.3M |
| Total Assets | $961.3M | $51.1M |
| Debt / EquityLower = less leverage | — | 0.25× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $675.0M | $2.2M | ||
| Q3 25 | $711.9M | $2.3M | ||
| Q2 25 | $742.7M | $2.0M | ||
| Q1 25 | $724.3M | $1.1M | ||
| Q4 24 | $730.4M | $2.5M | ||
| Q3 24 | $762.5M | $2.1M | ||
| Q2 24 | $750.4M | $797.2K | ||
| Q1 24 | $723.3M | $2.7M |
| Q4 25 | — | $4.1M | ||
| Q3 25 | — | $2.7M | ||
| Q2 25 | — | $4.5M | ||
| Q1 25 | — | $3.5M | ||
| Q4 24 | — | $2.5M | ||
| Q3 24 | — | $3.2M | ||
| Q2 24 | — | $2.5M | ||
| Q1 24 | — | $194.0K |
| Q4 25 | $771.9M | $16.3M | ||
| Q3 25 | $798.8M | $17.9M | ||
| Q2 25 | $838.3M | $14.3M | ||
| Q1 25 | $860.2M | $11.6M | ||
| Q4 24 | $859.0M | $11.9M | ||
| Q3 24 | $874.9M | $8.1M | ||
| Q2 24 | $873.4M | $7.6M | ||
| Q1 24 | $898.0M | $8.4M |
| Q4 25 | $961.3M | $51.1M | ||
| Q3 25 | $968.7M | $46.9M | ||
| Q2 25 | $1.0B | $51.4M | ||
| Q1 25 | $1.1B | $42.0M | ||
| Q4 24 | $1.0B | $79.0M | ||
| Q3 24 | $1.1B | $32.4M | ||
| Q2 24 | $1.0B | $30.0M | ||
| Q1 24 | $1.1B | $22.1M |
| Q4 25 | — | 0.25× | ||
| Q3 25 | — | 0.15× | ||
| Q2 25 | — | 0.31× | ||
| Q1 25 | — | 0.31× | ||
| Q4 24 | — | 0.21× | ||
| Q3 24 | — | 0.40× | ||
| Q2 24 | — | 0.34× | ||
| Q1 24 | — | 0.02× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-46.5M | $-1.2M |
| Free Cash FlowOCF − Capex | $-46.9M | $-1.2M |
| FCF MarginFCF / Revenue | -62.4% | -1.5% |
| Capex IntensityCapex / Revenue | 0.5% | 0.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-93.2M | $-4.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-46.5M | $-1.2M | ||
| Q3 25 | $-33.5M | $-953.0K | ||
| Q2 25 | $11.3M | $257.7K | ||
| Q1 25 | $-22.0M | $-1.9M | ||
| Q4 24 | $-38.7M | $-403.7K | ||
| Q3 24 | $8.0M | $625.0K | ||
| Q2 24 | $21.3M | $-2.6M | ||
| Q1 24 | $-39.1M | $-536.9K |
| Q4 25 | $-46.9M | $-1.2M | ||
| Q3 25 | $-34.3M | $-969.2K | ||
| Q2 25 | $10.3M | $211.7K | ||
| Q1 25 | $-22.4M | $-2.0M | ||
| Q4 24 | $-39.5M | $-421.3K | ||
| Q3 24 | $7.1M | $594.5K | ||
| Q2 24 | $18.8M | $-2.6M | ||
| Q1 24 | $-45.1M | $-608.5K |
| Q4 25 | -62.4% | -1.5% | ||
| Q3 25 | -48.8% | -0.9% | ||
| Q2 25 | 9.5% | 0.3% | ||
| Q1 25 | -22.7% | -3.4% | ||
| Q4 24 | -41.9% | -0.4% | ||
| Q3 24 | 8.2% | 1.1% | ||
| Q2 24 | 21.7% | -3.4% | ||
| Q1 24 | -57.6% | -1.2% |
| Q4 25 | 0.5% | 0.0% | ||
| Q3 25 | 1.1% | 0.0% | ||
| Q2 25 | 0.9% | 0.1% | ||
| Q1 25 | 0.4% | 0.1% | ||
| Q4 24 | 0.9% | 0.0% | ||
| Q3 24 | 1.1% | 0.1% | ||
| Q2 24 | 2.9% | 0.0% | ||
| Q1 24 | 7.8% | 0.1% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AI
| License And Service | $70.2M | 93% |
| Professional Services | $4.9M | 7% |
IQST
| USA | $53.2M | 63% |
| Other | $29.9M | 35% |
| Switzerland | $1.1M | 1% |
