Welcome to our dedicated page for Surgepays news (Ticker: SURGW), a resource for investors and traders seeking the latest updates and insights on Surgepays stock.
SurgePays, Inc. (SURGW) delivers fintech and blockchain-enabled telecommunications solutions to underserved markets through its integrated distribution network. This news hub provides investors and stakeholders with timely updates on corporate developments, financial performance, and strategic initiatives.
Access official press releases covering earnings announcements, product launches, partnership agreements, and operational milestones. Our curated collection ensures transparent access to primary source materials while maintaining compliance with financial disclosure standards.
Key updates include developments in prepaid wireless services, financial technology innovations, and blockchain integration progress. Users can track the company's progress in serving unbanked populations through its unique merchant network and digital platforms.
Bookmark this page for streamlined access to SurgePays' latest announcements. Combine these updates with market analysis tools for informed decision-making regarding SURGW securities.
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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