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 reported substantial financial growth for the year ended December 31, 2022. Revenue increased by 138% to $121.5 million, while gross profit rose 118% to $13.5 million. The fourth quarter alone saw revenue of $36.2 million, marking 155% growth YoY. Despite a net loss of $681,000, EBITDA improved to $2.3 million. SurgePays completed strategic acquisitions and secured a $25 million non-dilutive financing facility, enhancing its operational capacity. For 2023, management forecasts revenues of at least $190 million and aims for over 500,000 wireless subscribers.
SurgePays, Inc. (SURG) reported preliminary financial results for Q4 2022, expecting revenues between $35 million and $36 million, contributing to a full year revenue projection of $120 million to $121 million, reflecting over 130% growth from 2021. The company is also positioned to achieve positive cash flow of $2 million to $3 million for the quarter. CEO Brian Cox emphasized significant growth driven by team efforts and expanding product lines for 2023, targeting revenue growth through subscriber and distribution partnerships.
SurgePays, Inc. (Nasdaq: SURG) has entered a Distribution Agreement with Capital Candy Co., a major distributor serving over 3,000 convenience stores in New England. This agreement enables SurgePays to provide its suite of prepaid telecom and fintech products, including Affordable Connectivity Program (ACP) applications, to Capital Candy's retailers. SurgePays President Jeremy Gies highlighted the partnership's potential for increased revenue and expansion into underbanked areas, emphasizing the efficiency of leveraging existing distribution networks for growth.
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