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Side-by-side financial comparison of iQSTEL Inc (IQST) and Repay Holdings Corp (RPAY). Click either name above to swap in a different company.
iQSTEL Inc is the larger business by last-quarter revenue ($84.2M vs $78.6M, roughly 1.1× Repay Holdings Corp). iQSTEL Inc runs the higher net margin — -3.2% vs -178.3%, a 175.1% gap on every dollar of revenue. On growth, Repay Holdings Corp posted the faster year-over-year revenue change (0.4% vs -14.9%). Repay Holdings Corp produced more free cash flow last quarter ($23.2M vs $-1.2M). Over the past eight quarters, iQSTEL Inc's revenue compounded faster (28.0% CAGR vs -1.3%).
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.
Repay Holdings Corp is a leading payment technology provider delivering integrated end-to-end payment processing solutions for businesses across North America. Its offerings include credit/debit card processing, ACH transfer services, POS system integrations and digital payment tools, serving retail, healthcare, automotive and e-commerce segments to help clients streamline transaction workflows and boost operational efficiency.
IQST vs RPAY — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $84.2M | $78.6M |
| Net Profit | $-2.7M | $-140.1M |
| Gross Margin | 3.5% | 74.2% |
| Operating Margin | -2.9% | -182.2% |
| Net Margin | -3.2% | -178.3% |
| Revenue YoY | -14.9% | 0.4% |
| Net Profit YoY | -44.5% | -3304.1% |
| EPS (diluted) | $-0.92 | $-1.68 |
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 | $78.6M | ||
| Q3 25 | $102.9M | $77.7M | ||
| Q2 25 | $72.2M | $75.6M | ||
| Q1 25 | $57.6M | $77.3M | ||
| Q4 24 | $98.9M | $78.3M | ||
| Q3 24 | $54.2M | $79.1M | ||
| Q2 24 | $78.6M | $74.9M | ||
| Q1 24 | $51.4M | $80.7M |
| Q4 25 | $-2.7M | $-140.1M | ||
| Q3 25 | $-2.3M | $-6.4M | ||
| Q2 25 | $-2.3M | $-102.3M | ||
| Q1 25 | $-1.1M | $-7.9M | ||
| Q4 24 | $-1.9M | $-4.1M | ||
| Q3 24 | $-773.0K | $3.2M | ||
| Q2 24 | $-2.0M | $-4.1M | ||
| Q1 24 | $-580.2K | $-5.2M |
| Q4 25 | 3.5% | 74.2% | ||
| Q3 25 | 2.7% | 74.4% | ||
| Q2 25 | 2.6% | 75.7% | ||
| Q1 25 | 3.4% | 75.9% | ||
| Q4 24 | 2.7% | 76.3% | ||
| Q3 24 | 3.7% | 77.8% | ||
| Q2 24 | 2.8% | 78.2% | ||
| Q1 24 | 2.7% | 76.2% |
| Q4 25 | -2.9% | -182.2% | ||
| Q3 25 | -0.5% | -3.9% | ||
| Q2 25 | -0.9% | -138.7% | ||
| Q1 25 | -1.0% | -4.7% | ||
| Q4 24 | -0.3% | -1.5% | ||
| Q3 24 | -0.1% | -0.9% | ||
| Q2 24 | -0.4% | -4.6% | ||
| Q1 24 | -0.4% | -3.1% |
| Q4 25 | -3.2% | -178.3% | ||
| Q3 25 | -2.3% | -8.3% | ||
| Q2 25 | -3.3% | -135.2% | ||
| Q1 25 | -2.0% | -10.3% | ||
| Q4 24 | -1.9% | -5.3% | ||
| Q3 24 | -1.4% | 4.1% | ||
| Q2 24 | -2.5% | -5.4% | ||
| Q1 24 | -1.1% | -6.5% |
| Q4 25 | $-0.92 | $-1.68 | ||
| Q3 25 | $-0.68 | $-0.08 | ||
| Q2 25 | $-0.82 | $-1.15 | ||
| Q1 25 | $-0.44 | $-0.09 | ||
| Q4 24 | $-1.19 | $-0.04 | ||
| Q3 24 | $-0.40 | $0.03 | ||
| Q2 24 | $-0.90 | $-0.04 | ||
| Q1 24 | $-0.37 | $-0.06 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $2.2M | $115.7M |
| Total DebtLower is stronger | $4.1M | $280.1M |
| Stockholders' EquityBook value | $16.3M | $484.4M |
| Total Assets | $51.1M | $1.2B |
| Debt / EquityLower = less leverage | 0.25× | 0.58× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.2M | $115.7M | ||
| Q3 25 | $2.3M | $95.7M | ||
| Q2 25 | $2.0M | $162.6M | ||
| Q1 25 | $1.1M | $165.5M | ||
| Q4 24 | $2.5M | $189.5M | ||
| Q3 24 | $2.1M | $168.7M | ||
| Q2 24 | $797.2K | $147.1M | ||
| Q1 24 | $2.7M | $128.3M |
| Q4 25 | $4.1M | $280.1M | ||
| Q3 25 | $2.7M | $279.5M | ||
| Q2 25 | $4.5M | $279.0M | ||
| Q1 25 | $3.5M | $497.6M | ||
| Q4 24 | $2.5M | $496.8M | ||
| Q3 24 | $3.2M | $496.2M | ||
| Q2 24 | $2.5M | $435.6M | ||
| Q1 24 | $194.0K | $434.9M |
| Q4 25 | $16.3M | $484.4M | ||
| Q3 25 | $17.9M | $616.9M | ||
| Q2 25 | $14.3M | $633.7M | ||
| Q1 25 | $11.6M | $755.7M | ||
| Q4 24 | $11.9M | $761.3M | ||
| Q3 24 | $8.1M | $754.7M | ||
| Q2 24 | $7.6M | $815.4M | ||
| Q1 24 | $8.4M | $813.8M |
| Q4 25 | $51.1M | $1.2B | ||
| Q3 25 | $46.9M | $1.3B | ||
| Q2 25 | $51.4M | $1.4B | ||
| Q1 25 | $42.0M | $1.5B | ||
| Q4 24 | $79.0M | $1.6B | ||
| Q3 24 | $32.4M | $1.6B | ||
| Q2 24 | $30.0M | $1.5B | ||
| Q1 24 | $22.1M | $1.5B |
| Q4 25 | 0.25× | 0.58× | ||
| Q3 25 | 0.15× | 0.45× | ||
| Q2 25 | 0.31× | 0.44× | ||
| Q1 25 | 0.31× | 0.66× | ||
| Q4 24 | 0.21× | 0.65× | ||
| Q3 24 | 0.40× | 0.66× | ||
| Q2 24 | 0.34× | 0.53× | ||
| Q1 24 | 0.02× | 0.53× |
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 | $-1.2M | $23.3M |
| Free Cash FlowOCF − Capex | $-1.2M | $23.2M |
| FCF MarginFCF / Revenue | -1.5% | 29.6% |
| Capex IntensityCapex / Revenue | 0.0% | 0.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-4.0M | $90.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-1.2M | $23.3M | ||
| Q3 25 | $-953.0K | $32.2M | ||
| Q2 25 | $257.7K | $33.1M | ||
| Q1 25 | $-1.9M | $2.5M | ||
| Q4 24 | $-403.7K | $34.3M | ||
| Q3 24 | $625.0K | $60.1M | ||
| Q2 24 | $-2.6M | $31.0M | ||
| Q1 24 | $-536.9K | $24.8M |
| Q4 25 | $-1.2M | $23.2M | ||
| Q3 25 | $-969.2K | $32.1M | ||
| Q2 25 | $211.7K | $33.0M | ||
| Q1 25 | $-2.0M | $2.4M | ||
| Q4 24 | $-421.3K | $34.0M | ||
| Q3 24 | $594.5K | $59.8M | ||
| Q2 24 | $-2.6M | $30.5M | ||
| Q1 24 | $-608.5K | $24.7M |
| Q4 25 | -1.5% | 29.6% | ||
| Q3 25 | -0.9% | 41.3% | ||
| Q2 25 | 0.3% | 43.6% | ||
| Q1 25 | -3.4% | 3.0% | ||
| Q4 24 | -0.4% | 43.5% | ||
| Q3 24 | 1.1% | 75.6% | ||
| Q2 24 | -3.4% | 40.7% | ||
| Q1 24 | -1.2% | 30.6% |
| Q4 25 | 0.0% | 0.1% | ||
| Q3 25 | 0.0% | 0.2% | ||
| Q2 25 | 0.1% | 0.1% | ||
| Q1 25 | 0.1% | 0.2% | ||
| Q4 24 | 0.0% | 0.3% | ||
| Q3 24 | 0.1% | 0.3% | ||
| Q2 24 | 0.0% | 0.6% | ||
| Q1 24 | 0.1% | 0.1% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 18.52× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IQST
| USA | $53.2M | 63% |
| Other | $29.9M | 35% |
| Switzerland | $1.1M | 1% |
RPAY
| Sales Channel Directly To Consumer | $69.4M | 88% |
| Other | $6.8M | 9% |
| Sales Channel Through Intermediary | $2.3M | 3% |
