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MARKETS / NASDAQ / SURG
NASDAQ · TELEPHONE COMMUNICATIONS (NO RADIOTELEPHONE) · SMALL CAP

SurgePays, Inc. SURG

18 fiscal years on record · USD · FY2025 reported · SEC filings only
$57.0M
▼ 6.4% YoY
$-36.1M
$-21.3M
In brief

What this company does

SurgePays, Inc. ("SurgePays", "we", the "Company") is a wireless and point of sale technology company focused on serving underserved and value-conscious consumers through a combination of retail distribution and digital acquisition channels. The Company provides mobile connectivity, financial technology services, and transaction processing solutions through an integrated platform that combines wireless services with point of sale software and nationwide retail distribution. SurgePays operates a network of more than 9,000 independently owned convenience stores and similar retail locations, which serve as a primary distribution channel for its products and services. SurgePays operates through three primary business lines: wireless services or MVNO Telecommunications, platform services or MVNE Enablement Platform (HERO), and wholesale enablement or Comprehensive Platform Services. The Company's platform services segment includes point of sale transaction processing and related software solutions for retail partners. Our executive offices are located at 3124 Brother Blvd, Suite 410, Bartlett, TN 38133.

Written from the business description in SurgePays, Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 15 April 2026. Every sentence was checked against that document before publication.

Growth
USD 57.0M
Revenue, FY2025 · full 18-year series below
Revenue $M Net income $M
FY2025 · Revenue 57.0 · Net income -36.1
50M100M-20M-40M2007201020132017202020232025
Compound annual growth
−22.3%
+0.9%
+35.0%
+86.7%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +0.9% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
−63 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating -59.9% · Net -63.3%
5000%-10000%-20000%-30000%2007201020132017202020232025
ROE
FY2024 · ROE -209.9%
50%100%-100%-200%2007201020132017202020232025

Cash & shareholders
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF -21.3
-8M-16M2007201020132017202020232025
Net buybacks $ Dividends $
FY2020 · Dividends — · Net buybacks 500000.0
2000004000002020

Total assetsUSD 8.5M
EquityUSD -15.3M
CashUSD 1.7M
Gross debtUSD 28.2M
Net debtUSD 26.5M
Current ratio0.38×

Equity was negative — liabilities exceeded assets. No ratio is shown.

The 18-year record
18 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 202520242023202220212020201920182017201620152013201220112010200920082007
Revenue $B0.10.10.10.10.10.10.00.00.00.00.00.00.00.00.0···
Operating income $B−0.0−0.00.00.0−0.0−0.0−0.0−0.00.0−0.0−0.0−0.0−0.0−0.00.0···
EBITDA $B−0.0−0.00.00.0−0.0−0.0−0.0−0.00.0−0.0−0.0·······
Income tax $B·0.0−0.0····0.0··········
Net income $B−0.0−0.00.0−0.0−0.0−0.0−0.0−0.00.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0
Free cash flow $B−0.0−0.0·0.0−0.0−0.0−0.0−0.00.0−0.0−0.0·······
EPS, diluted $−1.80−2.391.38−0.05−3.09−5.02−0.09−0.020.04−0.10−0.040.000.00−0.03····
Dividend / sh $··················
Payout %··················
ROE %·−209.9124.1−15.9·············−27.6
Shares out B0.020.020.010.010.010.000.100.090.150.060.040.020.020.020.02···

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 69 reconciliationsAUDITED

Reconciled in 19 of 19 fiscal years. 21 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityTelephone Communications (No Radiotelephone)
Listed onNASDAQ
Incorporated inNevada
Fiscal year endsDecember 31
SEC categorysmaller reporting company
Data on record since2007

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