Welcome to our dedicated page for Surgepays news (Ticker: SURG), a resource for investors and traders seeking the latest updates and insights on Surgepays stock.
SurgePays, Inc. (NASDAQ: SURG) is a wireless, fintech, and point-of-sale technology company that frequently issues news related to its multi-channel growth strategy in the underserved and subprime consumer markets. On this page, readers can follow company announcements that explain how SurgePays is expanding access to mobile and financial services through its wireless brands, retail distribution network, and data-driven platforms.
News coverage for SurgePays often includes updates on subsidized and prepaid wireless initiatives, such as developments in its Lifeline-subsidized offerings and LinkUp Mobile prepaid brand. The company also reports on programs aimed at benefit-qualified households, including initiatives that provide free or low-cost wireless service to consumers receiving government assistance.
Another major theme in SurgePays news is the evolution of its data and marketing ecosystem. Press releases describe the launch and expansion of ProgramBenefits.com, the Growth Marketing and Data Partnerships Division, and the integration of legacy intake technology into modern platforms for underserved consumer marketing. These updates highlight how the company seeks to convert verified consumer engagement into recurring, high-margin revenue streams.
SurgePays also issues news about its ClearLine SaaS platform, including deployments of in-store digital advertising and content display units across grocery and convenience chains. Announcements detail how ClearLine turns mounted screens into connected retail media hubs capable of running video ads, promotions, coupons, and QR codes in real time, creating new subscription and advertising revenue opportunities.
In addition, investors can find financial and strategic updates such as quarterly revenue announcements, guidance discussions, and explanations of the company’s multi-vertical revenue model across Lifeline, prepaid wireless, HERO MVNE wholesale, prepaid top-up, and ClearLine SaaS. Conference call notices and strategic partnership announcements, including agreements with payment technology providers, are also common. Bookmark this page to review the latest official communications and historical press releases that outline SurgePays’ operational progress and strategic direction.
SurgePays, Inc. (Nasdaq: SURG) has developed a new software platform, allowing customers to purchase cryptocurrencies like Bitcoin, Ethereum, and Dogecoin at over 8,000 local stores without needing a bank account or credit card. This feature, set for release in January 2022, will facilitate cash transactions between $50 to $1,499, with customers receiving receipts to load coins into their digital wallets. This expansion enhances SurgePays' fintech services and aims to assist the underbanked population, positioning the company as a leader in this sector.
SurgePays has appointed Jason L. Aaron as a consultant to enhance its national sales strategy, following its recent uplisting to Nasdaq. With over 8,000 retail c-stores currently served, the fintech company aims to build an in-house sales team to expand its footprint and boost same-store sales significantly. Aaron brings nearly two decades of experience in sales leadership and strategic partnerships, which will aid in designing compensation plans, training, and performance standards. SurgePays is targeting a future expansion to over 50,000 stores, potentially generating $2,500 in monthly sales for each.
SurgePays, Inc. (Nasdaq: SURG) reported over $4.2 million in revenue from the Emergency Broadband Benefit Program (EBB) in just four months. As of November 30, 2021, more than 19,000 enrollments had been completed, primarily in Tennessee and Mississippi. The company plans to expand aggressively into California, Illinois, and Missouri. SurgePays aims to double its customer base to approximately 44,000 by February 2022, generating an expected $1.1 million monthly revenue. The EBB Program offers significant subsidies, further enhancing SurgePays' cash flow.
SurgePays, Inc. (Nasdaq: SURG) reported a third-quarter revenue of $14.54 million, up from $12.80 million YOY. The net loss improved to ($1.66 million) from ($2.50 million) the previous year. The company successfully uplisted to Nasdaq and completed a $19.8 million public offering. SurgePays aims to expand its services to the underbanked through its SurgePhone MVNO subsidiary and plans to hire a nationwide sales team. The LogicsIQ subsidiary achieved record revenue of nearly $7.5 million, further enhancing growth prospects.
SurgePays, Inc. (NASDAQ: SURG) reported $2.5 million in revenue for the past three months as it accelerates the rollout of the Emergency Broadband Benefit Program through its subsidiary, SurgePhone Wireless. Since mid-August, the company generated $115,211 in revenue across four states during a limited launch, followed by an additional $2.42 million from further expansion. SurgePays anticipates exceeding 15,000 customers by November, which could yield $750,000 in recurring revenue monthly. They plan to expand to ten more states and have ordered 20,000 additional tablets.
SurgePays, Inc. (NASDAQ: SURG, SURGW) has successfully closed its public offering of 4.6 million units at $4.30 each, generating gross proceeds of approximately $19.78 million. Each unit contains one share of common stock and one warrant with an exercise price of $4.73, expiring in three years. The offering followed a reverse stock split at a 1-for-50 ratio, effective November 2, 2021. Underwriters have a 45-day option to purchase an additional 690,000 shares or warrants to cover over-allotments. Trading commenced on November 2, 2021, under the symbols SURG and SURGW.
SurgePays, Inc. (OTCQB: SURG) announced a public offering of 4,600,000 units at $4.30 each, aimed at raising approximately $19.78 million. Each unit includes one share of common stock and a warrant at an exercise price of $4.73, expiring in three years. This offering will follow a 1-for-50 reverse stock split effective November 2, 2021. The shares are expected to start trading on the Nasdaq under the symbols 'SURG' and 'SURGW.' Maxim Group LLC is managing the offering, with closing anticipated on November 4, 2021. The offering is registered under SEC guidelines.
SurgePays, Inc. (OTCQB: SURG) reported generating over $115,211 in revenue and onboarding 833 customers in just two weeks as part of its Emergency Broadband Benefit Program through subsidiary SurgePhone Wireless. The program offers substantial reimbursements, aiding in financial service delivery to the underbanked. SurgePays anticipates the need for increased inventory, projecting to have 20,000 tablets available by early October to meet growing demand.
SurgePays, Inc. (OTCQB: SURG) reported a second quarter 2021 revenue of $11.38 million, down from $14.51 million year-over-year. However, the company significantly reduced general and administrative expenses to $2.74 million from $4.17 million, leading to an improved net loss of ($214,000) compared to ($2.43 million) last year. SurgePays continues to prepare for a Nasdaq up-list and an IPO for its SaaS subsidiary, LogicsIQ, which saw a 32% revenue increase from Q1 2021. Recent actions include acquiring Commander Communication and launching a new gift card program, aiming to expand offerings for underbanked consumers.
FAQ
What is the current stock price of Surgepays (SURG)?
What is the market cap of Surgepays (SURG)?
