Surgepays Inc Stock Price, News & Analysis

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.

SurgePays, Inc. (Nasdaq: SURG) announced that CEO Brian Cox will present at the Virtual Investor 2023 Companies to Watch Event on January 19, 2023, at 4:00 PM ET. The live presentation will be accessible via a webcast on the Company’s website, with a replay available for 90 days following the event.

SurgePays focuses on providing technology and telecommunications solutions to the underbanked and underserved communities, offering services through SurgePhone Wireless and a blockchain fintech platform aimed at empowering local corner stores.

SurgePays, Inc. (Nasdaq: SURG) announces its achievement as a top 10 performing stock on NASDAQ in 2022 amidst a challenging market. The company emphasizes no dilutive capital raises, focusing on telecom subscriber growth by reinvesting cash flow. SurgePays aims to reach 500,000 subscribers, expanding product offerings to underbanked households. A $25 million credit facility is expected to enhance sales operations. The annual shareholder meeting is set for March 7, 2023, in Memphis, and new board additions signal strategic growth potential for 2023.