Every 10-Q that SurgePays, Inc. (SURG) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow SURG and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full SURG filings page.
SurgePays, Inc. (ticker SURG) reported sharply higher revenue but continued losses and liquidity pressure for the quarter and six months ended June 30, 2026. Revenue rose to $16.2 million for the quarter and $32.2 million for the first half of 2026, up from $11.5 million and $22.1 million in 2025, driven mainly by the Point-of-Sale and Prepaid Services segment, which contributed 89.47% of six‑month revenue.
Net income available to common stockholders was $1.29 million for the quarter, but this was largely due to an $8.51 million gain on a contract liability settlement; the company still recorded a six‑month net loss of $10.76 million and used $7.18 million of cash in operating activities. At June 30, 2026, SurgePays had cash of $1.95 million (plus $0.43 million restricted), a working capital deficit of $21.30 million, a stockholders’ deficit of $20.75 million, accumulated deficit of $107.75 million, and total liabilities of $29.99 million, including significant current and long‑term convertible notes and $1.11 million of derivative liabilities.
Management concluded that these factors, together with continued losses and limited cash, raise substantial doubt about the company’s ability to continue as a going concern. SurgePays also disclosed Nasdaq notices for failing the $35 million market‑value and $1.00 minimum bid requirements, with cure periods into September 2026. In its MVNO business, reimbursements of $3.61 million under FCC‑administered programs are under audit and regulatory review and have been withheld; they are recorded as a non‑current receivable at a discounted carrying amount of $3.33 million. The board has authorized up to $20 million of additional convertible secured note financing as part of broader plans to address liquidity.
SurgePays, Inc. reported sharply higher revenue but deeper losses for the quarter ended March 31, 2026. Revenue rose to $15.98 million from $10.58 million a year earlier, driven mainly by point-of-sale and prepaid services, but cost of revenues of $23.68 million produced a large operating loss.
Net loss available to common stockholders widened to $12.05 million (loss of $0.51 per share) from $7.64 million (loss of $0.38 per share). Operating cash outflow was $4.55 million. At March 31, 2026, cash was $1.99 million, with a working capital deficit of $21.83 million, accumulated deficit of $109.04 million, and stockholders’ deficit of $23.87 million, while total liabilities reached $33.37 million.
Management concluded these conditions create substantial doubt about the Company’s ability to continue as a going concern over the next 12 months and is pursuing growth initiatives and additional financing, including a $20 million convertible secured note program. The Company also received Nasdaq notices in March 2026 for falling below the $35 million market value of listed securities requirement and the $1.00 minimum bid price, with 180-day cure periods.
SurgePays (SURG) filed its Q3 2025 10‑Q, reporting quarterly revenue of $18,680,317 and a net loss available to common stockholders of $7,489,068. For the nine months ended September 30, revenue was $40,775,913 with a net loss of $22,206,750. Basic and diluted EPS were $(0.38) for the quarter and $(1.11) year‑to‑date.
Cash and cash equivalents were $2,514,862, down from $11,790,389 at December 31, 2024. Total assets were $14,494,901 versus $23,976,005 year‑end. Total liabilities rose to $20,919,381, resulting in a stockholders’ deficit of $6,424,480. Operating cash outflow was $17,728,805 year‑to‑date, partially offset by financing inflows including $6,700,000 of convertible notes and $2,274,698 of notes payable proceeds. The company disclosed it does not have sufficient cash resources on hand to meet obligations for a period that is more than one year from the issuance date.
Management highlighted the end of ACP funding on June 1, 2024 and outlined plans to expand MVNO offerings, diversify Lifeline revenue, grow its platform, and pursue ClearLine marketing initiatives. Common shares outstanding were 21,041,455 as of November 12, 2025.