KonaTel is a small telecom company operating through two subsidiaries: IM Telecom (51% owned, with 49% held by Excess Telecom) and Apeiron Systems. IM Telecom, operating under the Infiniti Mobile brand, is an FCC-licensed carrier that provides subsidized mobile voice and data services to low-income Americans under the federal Lifeline program. IM Telecom does not own wireless network infrastructure; it resells wireless services from major carriers like T-Mobile and distributes them through its website, retail locations, and Independent Sales Organizations. IM Telecom is authorized to offer Lifeline services in up to 40 states. Revenue in this segment is driven primarily by active Lifeline subscriber counts, with the FCC reimbursing carriers on a per-subscriber, per-month basis. IM Telecom also participated in the Affordable Connectivity Program until that program ended in June 2024. Apeiron Systems is a CPaaS provider that lets businesses embed voice, SMS/MMS, and fax capabilities into their own applications via APIs. Unlike pure software-based CPaaS competitors, Apeiron owns and operates its own national private core network. Apeiron also provides IP networking and IoT device management services, selling primarily to businesses through its own sales staff and independent agents. Apeiron entered a five-year exclusive wholesale supply agreement with Viva-US in late 2023. Across both subsidiaries, KonaTel's cost base is dominated by wholesale carrier costs, and margin is the spread between what KonaTel pays carriers and what it charges customers or receives in government reimbursements.