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Side-by-side financial comparison of GCL Global Holdings Ltd (GCL) and iQSTEL Inc (IQST). Click either name above to swap in a different company.
GCL Global Holdings Ltd is the larger business by last-quarter revenue ($98.7M vs $84.2M, roughly 1.2× iQSTEL Inc). iQSTEL Inc runs the higher net margin — -3.2% vs -5.2%, a 2.0% gap on every dollar of revenue. iQSTEL Inc produced more free cash flow last quarter ($-1.2M vs $-5.2M).
GCL Global Holdings Ltd is a leading clean energy enterprise focusing on R&D, production and operation of photovoltaic products, energy storage systems and low-carbon energy solutions. Its main markets cover Asia, Europe, North America, serving utility, commercial and residential distributed energy users across the globe.
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.
GCL vs IQST — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $98.7M | $84.2M |
| Net Profit | $-5.1M | $-2.7M |
| Gross Margin | 11.0% | 3.5% |
| Operating Margin | -6.7% | -2.9% |
| Net Margin | -5.2% | -3.2% |
| Revenue YoY | — | -14.9% |
| Net Profit YoY | — | -44.5% |
| EPS (diluted) | $-0.04 | $-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 | — | $84.2M | ||
| Q3 25 | $98.7M | $102.9M | ||
| Q2 25 | $142.1M | $72.2M | ||
| Q1 25 | — | $57.6M | ||
| Q4 24 | — | $98.9M | ||
| Q3 24 | $36.1M | $54.2M | ||
| Q2 24 | — | $78.6M | ||
| Q1 24 | — | $51.4M |
| Q4 25 | — | $-2.7M | ||
| Q3 25 | $-5.1M | $-2.3M | ||
| Q2 25 | $5.6M | $-2.3M | ||
| Q1 25 | — | $-1.1M | ||
| Q4 24 | — | $-1.9M | ||
| Q3 24 | $-1.9M | $-773.0K | ||
| Q2 24 | — | $-2.0M | ||
| Q1 24 | — | $-580.2K |
| Q4 25 | — | 3.5% | ||
| Q3 25 | 11.0% | 2.7% | ||
| Q2 25 | 15.0% | 2.6% | ||
| Q1 25 | — | 3.4% | ||
| Q4 24 | — | 2.7% | ||
| Q3 24 | 16.2% | 3.7% | ||
| Q2 24 | — | 2.8% | ||
| Q1 24 | — | 2.7% |
| Q4 25 | — | -2.9% | ||
| Q3 25 | -6.7% | -0.5% | ||
| Q2 25 | 2.3% | -0.9% | ||
| Q1 25 | — | -1.0% | ||
| Q4 24 | — | -0.3% | ||
| Q3 24 | -5.6% | -0.1% | ||
| Q2 24 | — | -0.4% | ||
| Q1 24 | — | -0.4% |
| Q4 25 | — | -3.2% | ||
| Q3 25 | -5.2% | -2.3% | ||
| Q2 25 | 3.9% | -3.3% | ||
| Q1 25 | — | -2.0% | ||
| Q4 24 | — | -1.9% | ||
| Q3 24 | -5.2% | -1.4% | ||
| Q2 24 | — | -2.5% | ||
| Q1 24 | — | -1.1% |
| Q4 25 | — | $-0.92 | ||
| Q3 25 | $-0.04 | $-0.68 | ||
| Q2 25 | $0.05 | $-0.82 | ||
| Q1 25 | — | $-0.44 | ||
| Q4 24 | — | $-1.19 | ||
| Q3 24 | — | $-0.40 | ||
| Q2 24 | — | $-0.90 | ||
| Q1 24 | — | $-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 | $16.6M | $2.2M |
| Total DebtLower is stronger | $52.0M | $4.1M |
| Stockholders' EquityBook value | $33.1M | $16.3M |
| Total Assets | $159.9M | $51.1M |
| Debt / EquityLower = less leverage | 1.57× | 0.25× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $2.2M | ||
| Q3 25 | $16.6M | $2.3M | ||
| Q2 25 | $18.2M | $2.0M | ||
| Q1 25 | — | $1.1M | ||
| Q4 24 | — | $2.5M | ||
| Q3 24 | $2.7M | $2.1M | ||
| Q2 24 | — | $797.2K | ||
| Q1 24 | — | $2.7M |
| Q4 25 | — | $4.1M | ||
| Q3 25 | $52.0M | $2.7M | ||
| Q2 25 | $11.9M | $4.5M | ||
| Q1 25 | — | $3.5M | ||
| Q4 24 | — | $2.5M | ||
| Q3 24 | — | $3.2M | ||
| Q2 24 | — | $2.5M | ||
| Q1 24 | — | $194.0K |
| Q4 25 | — | $16.3M | ||
| Q3 25 | $33.1M | $17.9M | ||
| Q2 25 | $35.9M | $14.3M | ||
| Q1 25 | — | $11.6M | ||
| Q4 24 | — | $11.9M | ||
| Q3 24 | $15.9M | $8.1M | ||
| Q2 24 | — | $7.6M | ||
| Q1 24 | — | $8.4M |
| Q4 25 | — | $51.1M | ||
| Q3 25 | $159.9M | $46.9M | ||
| Q2 25 | $101.6M | $51.4M | ||
| Q1 25 | — | $42.0M | ||
| Q4 24 | — | $79.0M | ||
| Q3 24 | $49.6M | $32.4M | ||
| Q2 24 | — | $30.0M | ||
| Q1 24 | — | $22.1M |
| Q4 25 | — | 0.25× | ||
| Q3 25 | 1.57× | 0.15× | ||
| Q2 25 | 0.33× | 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 | $-4.8M | $-1.2M |
| Free Cash FlowOCF − Capex | $-5.2M | $-1.2M |
| FCF MarginFCF / Revenue | -5.3% | -1.5% |
| Capex IntensityCapex / Revenue | 0.4% | 0.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-4.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-1.2M | ||
| Q3 25 | $-4.8M | $-953.0K | ||
| Q2 25 | $-10.3M | $257.7K | ||
| Q1 25 | — | $-1.9M | ||
| Q4 24 | — | $-403.7K | ||
| Q3 24 | $6.1M | $625.0K | ||
| Q2 24 | — | $-2.6M | ||
| Q1 24 | — | $-536.9K |
| Q4 25 | — | $-1.2M | ||
| Q3 25 | $-5.2M | $-969.2K | ||
| Q2 25 | $-10.5M | $211.7K | ||
| Q1 25 | — | $-2.0M | ||
| Q4 24 | — | $-421.3K | ||
| Q3 24 | — | $594.5K | ||
| Q2 24 | — | $-2.6M | ||
| Q1 24 | — | $-608.5K |
| Q4 25 | — | -1.5% | ||
| Q3 25 | -5.3% | -0.9% | ||
| Q2 25 | -7.4% | 0.3% | ||
| Q1 25 | — | -3.4% | ||
| Q4 24 | — | -0.4% | ||
| Q3 24 | — | 1.1% | ||
| Q2 24 | — | -3.4% | ||
| Q1 24 | — | -1.2% |
| Q4 25 | — | 0.0% | ||
| Q3 25 | 0.4% | 0.0% | ||
| Q2 25 | 0.1% | 0.1% | ||
| Q1 25 | — | 0.1% | ||
| Q4 24 | — | 0.0% | ||
| Q3 24 | — | 0.1% | ||
| Q2 24 | — | 0.0% | ||
| Q1 24 | — | 0.1% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | -1.84× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GCL
Segment breakdown not available.
IQST
| USA | $53.2M | 63% |
| Other | $29.9M | 35% |
| Switzerland | $1.1M | 1% |
