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Side-by-side financial comparison of iQSTEL Inc (IQST) and Vericel Corp (VCEL). Click either name above to swap in a different company.
Vericel Corp is the larger business by last-quarter revenue ($92.9M vs $84.2M, roughly 1.1× iQSTEL Inc). Vericel Corp runs the higher net margin — 25.0% vs -3.2%, a 28.2% gap on every dollar of revenue. On growth, Vericel Corp posted the faster year-over-year revenue change (23.3% vs -14.9%). Vericel Corp produced more free cash flow last quarter ($12.8M vs $-1.2M). Over the past eight quarters, Vericel Corp's revenue compounded faster (34.6% CAGR vs 28.0%).
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.
Vericel Corporation is a publicly traded American biopharmaceutical company which was known prior to October 2014 as Aastrom Bio. Aastrom Bio was formed in 1989 in Ann Arbor, Michigan.
IQST vs VCEL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $84.2M | $92.9M |
| Net Profit | $-2.7M | $23.2M |
| Gross Margin | 3.5% | 78.7% |
| Operating Margin | -2.9% | 24.1% |
| Net Margin | -3.2% | 25.0% |
| Revenue YoY | -14.9% | 23.3% |
| Net Profit YoY | -44.5% | 17.3% |
| EPS (diluted) | $-0.92 | $0.46 |
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 | $92.9M | ||
| Q3 25 | $102.9M | $67.5M | ||
| Q2 25 | $72.2M | $63.2M | ||
| Q1 25 | $57.6M | $52.6M | ||
| Q4 24 | $98.9M | $75.4M | ||
| Q3 24 | $54.2M | $57.9M | ||
| Q2 24 | $78.6M | $52.7M | ||
| Q1 24 | $51.4M | $51.3M |
| Q4 25 | $-2.7M | $23.2M | ||
| Q3 25 | $-2.3M | $5.1M | ||
| Q2 25 | $-2.3M | $-553.0K | ||
| Q1 25 | $-1.1M | $-11.2M | ||
| Q4 24 | $-1.9M | $19.8M | ||
| Q3 24 | $-773.0K | $-901.0K | ||
| Q2 24 | $-2.0M | $-4.7M | ||
| Q1 24 | $-580.2K | $-3.9M |
| Q4 25 | 3.5% | 78.7% | ||
| Q3 25 | 2.7% | 73.5% | ||
| Q2 25 | 2.6% | 73.7% | ||
| Q1 25 | 3.4% | 69.0% | ||
| Q4 24 | 2.7% | 77.6% | ||
| Q3 24 | 3.7% | 71.9% | ||
| Q2 24 | 2.8% | 69.5% | ||
| Q1 24 | 2.7% | 68.9% |
| Q4 25 | -2.9% | 24.1% | ||
| Q3 25 | -0.5% | 5.1% | ||
| Q2 25 | -0.9% | -3.2% | ||
| Q1 25 | -1.0% | -24.3% | ||
| Q4 24 | -0.3% | 24.5% | ||
| Q3 24 | -0.1% | -4.3% | ||
| Q2 24 | -0.4% | -11.5% | ||
| Q1 24 | -0.4% | -10.7% |
| Q4 25 | -3.2% | 25.0% | ||
| Q3 25 | -2.3% | 7.5% | ||
| Q2 25 | -3.3% | -0.9% | ||
| Q1 25 | -2.0% | -21.4% | ||
| Q4 24 | -1.9% | 26.3% | ||
| Q3 24 | -1.4% | -1.6% | ||
| Q2 24 | -2.5% | -8.9% | ||
| Q1 24 | -1.1% | -7.5% |
| Q4 25 | $-0.92 | $0.46 | ||
| Q3 25 | $-0.68 | $0.10 | ||
| Q2 25 | $-0.82 | $-0.01 | ||
| Q1 25 | $-0.44 | $-0.23 | ||
| Q4 24 | $-1.19 | $0.40 | ||
| Q3 24 | $-0.40 | $-0.02 | ||
| Q2 24 | $-0.90 | $-0.10 | ||
| Q1 24 | $-0.37 | $-0.08 |
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 | $137.5M |
| Total DebtLower is stronger | $4.1M | — |
| Stockholders' EquityBook value | $16.3M | $354.6M |
| Total Assets | $51.1M | $488.0M |
| Debt / EquityLower = less leverage | 0.25× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.2M | $137.5M | ||
| Q3 25 | $2.3M | $135.4M | ||
| Q2 25 | $2.0M | $116.9M | ||
| Q1 25 | $1.1M | $112.9M | ||
| Q4 24 | $2.5M | $116.2M | ||
| Q3 24 | $2.1M | $101.7M | ||
| Q2 24 | $797.2K | $102.5M | ||
| Q1 24 | $2.7M | $110.6M |
| 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 | $16.3M | $354.6M | ||
| Q3 25 | $17.9M | $321.9M | ||
| Q2 25 | $14.3M | $306.8M | ||
| Q1 25 | $11.6M | $295.5M | ||
| Q4 24 | $11.9M | $292.0M | ||
| Q3 24 | $8.1M | $257.5M | ||
| Q2 24 | $7.6M | $243.0M | ||
| Q1 24 | $8.4M | $233.9M |
| Q4 25 | $51.1M | $488.0M | ||
| Q3 25 | $46.9M | $453.3M | ||
| Q2 25 | $51.4M | $435.6M | ||
| Q1 25 | $42.0M | $424.6M | ||
| Q4 24 | $79.0M | $432.7M | ||
| Q3 24 | $32.4M | $390.4M | ||
| Q2 24 | $30.0M | $376.8M | ||
| Q1 24 | $22.1M | $356.7M |
| 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 | $-1.2M | $15.0M |
| Free Cash FlowOCF − Capex | $-1.2M | $12.8M |
| FCF MarginFCF / Revenue | -1.5% | 13.8% |
| Capex IntensityCapex / Revenue | 0.0% | 2.4% |
| Cash ConversionOCF / Net Profit | — | 0.65× |
| TTM Free Cash FlowTrailing 4 quarters | $-4.0M | $24.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-1.2M | $15.0M | ||
| Q3 25 | $-953.0K | $22.1M | ||
| Q2 25 | $257.7K | $8.2M | ||
| Q1 25 | $-1.9M | $6.6M | ||
| Q4 24 | $-403.7K | $22.2M | ||
| Q3 24 | $625.0K | $10.2M | ||
| Q2 24 | $-2.6M | $18.5M | ||
| Q1 24 | $-536.9K | $7.2M |
| Q4 25 | $-1.2M | $12.8M | ||
| Q3 25 | $-969.2K | $19.5M | ||
| Q2 25 | $211.7K | $81.0K | ||
| Q1 25 | $-2.0M | $-7.6M | ||
| Q4 24 | $-421.3K | $8.5M | ||
| Q3 24 | $594.5K | $-9.2M | ||
| Q2 24 | $-2.6M | $1.8M | ||
| Q1 24 | $-608.5K | $-6.8M |
| Q4 25 | -1.5% | 13.8% | ||
| Q3 25 | -0.9% | 28.8% | ||
| Q2 25 | 0.3% | 0.1% | ||
| Q1 25 | -3.4% | -14.5% | ||
| Q4 24 | -0.4% | 11.2% | ||
| Q3 24 | 1.1% | -15.9% | ||
| Q2 24 | -3.4% | 3.4% | ||
| Q1 24 | -1.2% | -13.3% |
| Q4 25 | 0.0% | 2.4% | ||
| Q3 25 | 0.0% | 3.9% | ||
| Q2 25 | 0.1% | 12.9% | ||
| Q1 25 | 0.1% | 27.0% | ||
| Q4 24 | 0.0% | 18.3% | ||
| Q3 24 | 0.1% | 33.5% | ||
| Q2 24 | 0.0% | 31.8% | ||
| Q1 24 | 0.1% | 27.3% |
| Q4 25 | — | 0.65× | ||
| Q3 25 | — | 4.35× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.12× | ||
| Q3 24 | — | — | ||
| 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% |
VCEL
| MACI Implants And Kits | $84.1M | 90% |
| Other | $8.8M | 10% |
