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) delivers fintech and telecommunications solutions through its mobile broadband services, digital payment platforms, and blockchain innovations. This news hub provides investors with essential updates on the company's strategic initiatives in serving underbanked communities.
Access real-time announcements including quarterly earnings, technology partnerships, and retail network expansions. Our curated collection features press releases about SURG's MVNO operations, ClearLine POS marketing developments, and collaborations with industry leaders like AT&T and Clover.
Key updates cover product launches, regulatory filings, and market expansion efforts across the company's three core verticals: prepaid wireless services, financial technology integrations, and blockchain-powered solutions. Stay informed about operational milestones through verified reports on store network growth, subscriber metrics, and technological advancements.
Bookmark this page for streamlined access to SurgePays' official communications. Check regularly for new developments impacting the company's position in competitive fintech and telecom markets.
SurgePays has appointed Joseph Gomez as Vice President of MVNO Operations, a new role aimed at enhancing their mobile virtual network operator strategy. Gomez brings over 18 years of experience from AT&T, where he led strategic initiatives and developed partnerships. His immediate focus at SurgePays will be on developing innovative wireless products and services for the value market segment and growing market share. Gomez aims to bridge the digital divide by connecting with underserved communities through the recently launched LinkUp Mobile.
Gomez, recognized for his ability to build strong industry relationships and drive revenue growth, will be based in Los Angeles.
SurgePays (NASDAQ: SURG), a technology and telecom company, has launched LinkUp Mobile, a new prepaid wireless brand. The service offers a free first month and up to 10% monthly savings, targeting the underbanked and value-conscious consumers in North America. LinkUp Mobile provides unlimited talk and text plans for the USA, Canada, and Mexico without roaming charges. The easy activation process allows users to switch networks while keeping their existing smartphones. CEO Brian Cox emphasized that this move aims to enhance the prepaid market experience and build customer loyalty.
SurgePays (Nasdaq: SURG) reported its Q1 2024 financial results, noting revenues of $31.4 million. This reflects a dip from last year as the company shifted focus from its Lead Generation subsidiary, which contributed $3.2 million in Q1 2023. Despite this, their MVNO wireless revenue saw a slight increase to $28.9 million from $28.7 million the previous year.
The company recorded a net income of $1.2 million, inclusive of $2 million in non-cash stock charges. SurgePays holds a substantial cash balance of over $42 million. The company is also strategizing to mitigate risks related to potential lapses in Affordable Connectivity Program (ACP) funding, aiming to grow its non-ACP businesses through its nationwide network.
CEO Brian Cox highlighted the company's preparedness to adapt regardless of ACP funding outcomes, citing strong congressional support for the program. SurgePays will discuss these results in a webcast at 5 p.m. ET on May 13, 2024.
SurgePays, Inc. (Nasdaq: SURG) will host a live conference call and webcast on May 13, 2024, to discuss its first quarter 2024 earnings. The call will be accessible via webcast link and telephone. A replay will be available until May 27, 2024.
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