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Side-by-side financial comparison of indie Semiconductor, Inc. (INDI) 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 $58.0M, roughly 1.5× indie Semiconductor, Inc.). iQSTEL Inc runs the higher net margin — -3.2% vs -53.8%, a 50.6% gap on every dollar of revenue. On growth, indie Semiconductor, Inc. posted the faster year-over-year revenue change (-0.0% vs -14.9%). iQSTEL Inc produced more free cash flow last quarter ($-1.2M vs $-16.1M). Over the past eight quarters, iQSTEL Inc's revenue compounded faster (28.0% CAGR vs 5.3%).
indie Semiconductor is a fabless semiconductor manufacturer focused on designing high-performance mixed-signal and embedded system-on-chip solutions for the automotive industry. Its products support advanced driver assistance systems, in-vehicle infotainment, connected car, and electric vehicle applications, serving global auto OEMs and tier 1 suppliers across major global markets.
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.
INDI vs IQST — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $58.0M | $84.2M |
| Net Profit | $-31.2M | $-2.7M |
| Gross Margin | 37.3% | 3.5% |
| Operating Margin | -58.5% | -2.9% |
| Net Margin | -53.8% | -3.2% |
| Revenue YoY | -0.0% | -14.9% |
| Net Profit YoY | 9.1% | -44.5% |
| EPS (diluted) | $-0.16 | $-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 | $58.0M | $84.2M | ||
| Q3 25 | $53.7M | $102.9M | ||
| Q2 25 | $51.6M | $72.2M | ||
| Q1 25 | $54.1M | $57.6M | ||
| Q4 24 | $58.0M | $98.9M | ||
| Q3 24 | $54.0M | $54.2M | ||
| Q2 24 | $52.4M | $78.6M | ||
| Q1 24 | $52.4M | $51.4M |
| Q4 25 | $-31.2M | $-2.7M | ||
| Q3 25 | $-38.3M | $-2.3M | ||
| Q2 25 | $-39.0M | $-2.3M | ||
| Q1 25 | $-34.5M | $-1.1M | ||
| Q4 24 | $-34.4M | $-1.9M | ||
| Q3 24 | $-49.7M | $-773.0K | ||
| Q2 24 | $-19.2M | $-2.0M | ||
| Q1 24 | $-31.2M | $-580.2K |
| Q4 25 | 37.3% | 3.5% | ||
| Q3 25 | 40.1% | 2.7% | ||
| Q2 25 | 40.6% | 2.6% | ||
| Q1 25 | 41.7% | 3.4% | ||
| Q4 24 | 42.6% | 2.7% | ||
| Q3 24 | 39.3% | 3.7% | ||
| Q2 24 | 42.2% | 2.8% | ||
| Q1 24 | 42.5% | 2.7% |
| Q4 25 | -58.5% | -2.9% | ||
| Q3 25 | -71.4% | -0.5% | ||
| Q2 25 | -83.3% | -0.9% | ||
| Q1 25 | -72.0% | -1.0% | ||
| Q4 24 | -58.4% | -0.3% | ||
| Q3 24 | -92.5% | -0.1% | ||
| Q2 24 | -70.0% | -0.4% | ||
| Q1 24 | -94.8% | -0.4% |
| Q4 25 | -53.8% | -3.2% | ||
| Q3 25 | -71.3% | -2.3% | ||
| Q2 25 | -75.6% | -3.3% | ||
| Q1 25 | -63.9% | -2.0% | ||
| Q4 24 | -59.2% | -1.9% | ||
| Q3 24 | -92.1% | -1.4% | ||
| Q2 24 | -36.6% | -2.5% | ||
| Q1 24 | -59.6% | -1.1% |
| Q4 25 | $-0.16 | $-0.92 | ||
| Q3 25 | $-0.19 | $-0.68 | ||
| Q2 25 | $-0.20 | $-0.82 | ||
| Q1 25 | $-0.18 | $-0.44 | ||
| Q4 24 | $-0.18 | $-1.19 | ||
| Q3 24 | $-0.28 | $-0.40 | ||
| Q2 24 | $-0.11 | $-0.90 | ||
| Q1 24 | $-0.19 | $-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 | $145.5M | $2.2M |
| Total DebtLower is stronger | $353.4M | $4.1M |
| Stockholders' EquityBook value | $358.0M | $16.3M |
| Total Assets | $840.8M | $51.1M |
| Debt / EquityLower = less leverage | 0.99× | 0.25× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $145.5M | $2.2M | ||
| Q3 25 | $160.9M | $2.3M | ||
| Q2 25 | $192.6M | $2.0M | ||
| Q1 25 | $236.6M | $1.1M | ||
| Q4 24 | $274.2M | $2.5M | ||
| Q3 24 | $96.9M | $2.1M | ||
| Q2 24 | $112.3M | $797.2K | ||
| Q1 24 | $138.2M | $2.7M |
| Q4 25 | $353.4M | $4.1M | ||
| Q3 25 | $353.5M | $2.7M | ||
| Q2 25 | $352.5M | $4.5M | ||
| Q1 25 | $379.0M | $3.5M | ||
| Q4 24 | $381.3M | $2.5M | ||
| Q3 24 | — | $3.2M | ||
| Q2 24 | — | $2.5M | ||
| Q1 24 | — | $194.0K |
| Q4 25 | $358.0M | $16.3M | ||
| Q3 25 | $369.2M | $17.9M | ||
| Q2 25 | $390.4M | $14.3M | ||
| Q1 25 | $405.6M | $11.6M | ||
| Q4 24 | $417.9M | $11.9M | ||
| Q3 24 | $458.6M | $8.1M | ||
| Q2 24 | $470.7M | $7.6M | ||
| Q1 24 | $432.9M | $8.4M |
| Q4 25 | $840.8M | $51.1M | ||
| Q3 25 | $855.1M | $46.9M | ||
| Q2 25 | $867.6M | $51.4M | ||
| Q1 25 | $909.0M | $42.0M | ||
| Q4 24 | $941.4M | $79.0M | ||
| Q3 24 | $797.5M | $32.4M | ||
| Q2 24 | $797.3M | $30.0M | ||
| Q1 24 | $803.6M | $22.1M |
| Q4 25 | 0.99× | 0.25× | ||
| Q3 25 | 0.96× | 0.15× | ||
| Q2 25 | 0.90× | 0.31× | ||
| Q1 25 | 0.93× | 0.31× | ||
| Q4 24 | 0.91× | 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 | $-14.4M | $-1.2M |
| Free Cash FlowOCF − Capex | $-16.1M | $-1.2M |
| FCF MarginFCF / Revenue | -27.8% | -1.5% |
| Capex IntensityCapex / Revenue | 3.0% | 0.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-71.4M | $-4.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-14.4M | $-1.2M | ||
| Q3 25 | $-6.2M | $-953.0K | ||
| Q2 25 | $-7.6M | $257.7K | ||
| Q1 25 | $-29.0M | $-1.9M | ||
| Q4 24 | $-6.7M | $-403.7K | ||
| Q3 24 | $-22.8M | $625.0K | ||
| Q2 24 | $-19.7M | $-2.6M | ||
| Q1 24 | $-9.3M | $-536.9K |
| Q4 25 | $-16.1M | $-1.2M | ||
| Q3 25 | $-10.3M | $-969.2K | ||
| Q2 25 | $-13.6M | $211.7K | ||
| Q1 25 | $-31.4M | $-2.0M | ||
| Q4 24 | $-8.6M | $-421.3K | ||
| Q3 24 | $-29.3M | $594.5K | ||
| Q2 24 | $-23.4M | $-2.6M | ||
| Q1 24 | $-11.7M | $-608.5K |
| Q4 25 | -27.8% | -1.5% | ||
| Q3 25 | -19.2% | -0.9% | ||
| Q2 25 | -26.4% | 0.3% | ||
| Q1 25 | -58.0% | -3.4% | ||
| Q4 24 | -14.8% | -0.4% | ||
| Q3 24 | -54.3% | 1.1% | ||
| Q2 24 | -44.7% | -3.4% | ||
| Q1 24 | -22.3% | -1.2% |
| Q4 25 | 3.0% | 0.0% | ||
| Q3 25 | 7.8% | 0.0% | ||
| Q2 25 | 11.6% | 0.1% | ||
| Q1 25 | 4.4% | 0.1% | ||
| Q4 24 | 3.2% | 0.0% | ||
| Q3 24 | 12.1% | 0.1% | ||
| Q2 24 | 7.0% | 0.0% | ||
| Q1 24 | 4.4% | 0.1% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
INDI
| Products | $55.7M | 96% |
| Services | $2.3M | 4% |
IQST
| USA | $53.2M | 63% |
| Other | $29.9M | 35% |
| Switzerland | $1.1M | 1% |
