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iQSTEL vs Shenandoah Telecommunications: IQST and SHEN compared
iQSTEL is the larger company: $109M of revenue in its latest quarter (Q2 2026) against $93.9M for Shenandoah Telecommunications (Q3 2026). iQSTEL is growing faster (+51% against +5% a year earlier). iQSTEL is more profitable, with an operating margin of -1.0% against -2.1%.
Where the money goes: IQST and SHEN
iQSTEL (IQST) · Q2 2026
iQSTEL, Q2 2026: revenue $109M (+51% year over year), operating margin -1.0%, net loss $2.4M, operating cash flow −$1.5M. The chart follows the revenue to costs, profit and cash.
Shenandoah Telecommunications (SHEN) · Q3 2026
Shenandoah Telecommunications, Q3 2026: revenue $93.9M (+5% year over year), operating margin -2.1%, net loss $9.2M, operating cash flow $27.8M. The chart follows the revenue to costs, profit and cash.
| iQSTEL (IQST) | Shenandoah Telecommunications (SHEN) | |
|---|---|---|
| Latest quarter | Q2 2026 | Q3 2026 |
| Revenue | $109M | $93.9M |
| Revenue growth, Y/Y | +51% | +5% |
| Operating margin | -1.0% | -2.1% |
| Net earnings | −$2.4M | −$9.2M |
| Net margin | -2.2% | -9.8% |
| Operating cash flow | −$1.5M | $27.8M |
Where the revenue comes from
iQSTEL
- U S A: $73.5M (67%)
- United Kingdom: $35.1M (32%)
Shenandoah Telecommunications
- Residential & SMB - Incumbent Broadband Markets: $39.1M (42%)
- Residential & SMB - Glo Fiber Expansion Markets: $28.2M (30%)
- Commercial Fiber: $21.1M (22%)
- RLEC & Other: $5.5M (6%)
Questions
Which is bigger, iQSTEL or Shenandoah Telecommunications?
iQSTEL is the larger company: $109M of revenue in its latest quarter (Q2 2026) against $93.9M for Shenandoah Telecommunications (Q3 2026).
Is iQSTEL or Shenandoah Telecommunications growing faster?
iQSTEL is growing faster (+51% against +5% a year earlier).
Which is more profitable, iQSTEL or Shenandoah Telecommunications?
iQSTEL is more profitable, with an operating margin of -1.0% against -2.1%.
More: iQSTEL earnings · how iQSTEL makes money · Shenandoah Telecommunications earnings · how Shenandoah Telecommunications makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Aug 18, 2026; 10-Q filed Oct 28, 2026). Fiscal quarters can end on different dates. Not investment advice.