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, Inc. (Nasdaq: SURG) will host a live moderated video webcast on July 27, 2022, at 11:00 AM ET. Chairman and CEO Brian Cox will present a corporate overview, showcase recent achievements, and discuss upcoming milestones. Investors can submit questions during the event for live responses. SurgePays focuses on serving the underbanked and underserved populations through technology and telecommunications solutions. For details on participation, visit this link.
SurgePays, Inc. (Nasdaq: SURG) reports surpassing 150,000 subscribers for its mobile broadband service, SurgePhone Wireless. The company aims to enhance internet access for the underbanked and underserved across all 50 states. SurgePhone is now a licensed provider under the Affordable Connectivity Program, leveraging cloud CRM technology to attract over 300 new subscribers daily. The CEO anticipates rapid subscriber growth due to improved software efficiencies and an estimated 48 million qualifying households. SurgePays is reinvesting positive cash flow to further boost sales.
SurgePays, Inc. (Nasdaq: SURG) announces participation in an Opening Bell Ceremony at Nasdaq on July 15, 2022, celebrating its IPO success. CEO Brian Cox expresses enthusiasm, highlighting a 100% stock increase in 2022 and overall business growth. The ceremony will take place at 9:20 a.m. Eastern Time and can be viewed live. SurgePays serves underbanked communities through its technology and telecommunications services, including SurgePhone Wireless and a blockchain fintech platform. For more details, visit SurgePays.com.
SurgePays, Inc. (Nasdaq: SURG) has been selected for inclusion in the Russell Microcap® Index, effective June 24, 2022. This selection reflects the company's growth trajectory and enhances its visibility among investors. SurgePays focuses on technology and telecommunications services for underbanked communities. The Russell Microcap® Index tracks microcap companies, and membership can increase investment interest, given that approximately $10.6 trillion in assets are benchmarked against Russell indexes.
SurgePays reported strong financial results for Q1 2022, achieving $21.1 million in revenue, a 92% increase year-over-year. Gross profit also saw significant growth, reaching $2.6 million—up 133% from Q1 2021. The net loss improved to $(1.2) million from $(4.8) million in the previous year, while adjusted EBITDA loss declined to $(873) thousand. The company aims for at least $130 million in total revenues and over 200,000 mobile broadband subscribers by the end of 2022, leveraging the Affordable Connectivity Program.
SurgePays, Inc. (Nasdaq: SURG) will host a live conference call and webcast on May 16, 2022, at 9:00 AM ET to discuss its first quarter 2022 earnings. The event can be accessed through a webcast link on their investor relations site. Participants can join via telephone by dialing designated numbers. A replay will be available after the call until May 30, 2022. SurgePays focuses on providing technology solutions for the underbanked, offering mobile broadband and fintech products to underserved communities.
SurgePays, Inc. (Nasdaq: SURG) announced the acquisition of Torch Wireless, enhancing its mobile broadband service through its subsidiary SurgePhone Wireless. The company has surpassed 100,000 subscribers within a recent timeframe and aims to double this count rapidly, leveraging the Affordable Connectivity Program to serve the underbanked. SurgePhone and Torch are licensed to operate in all 50 states, utilizing major network infrastructures for reliable internet access.
BARTLETT, Tenn., April 13, 2022 (GLOBE NEWSWIRE) -- SurgePays, Inc. (Nasdaq: SURG) announces CEO Brian Cox will present at two upcoming conferences. The first is the Noble Capital Markets 18th Small and Microcap Investor Conference in Hollywood, FL from April 19-21, with SurgePays' presentation scheduled for April 20 at 11:30 am ET. The second is the SNN Network Planet MicroCap Showcase in Las Vegas, NV from May 3-5, with SurgePays presenting on May 4 at 4:00 pm PT. Registration is required for both events. For more details, visit their official pages.
SurgePays, Inc. (Nasdaq: SURG) has announced the acquisition of Torch Wireless, allowing the company to provide subsidized mobile broadband services across all 50 states through the FCC’s Affordable Connectivity Program (ACP). This acquisition is expected to enhance revenue without diluting shareholder equity, as stated by CEO Brian Cox. SurgePays aims to lower subscriber acquisition costs by initiating a nationwide online enrollment. Torch Wireless also contributes as a licensed lifeline carrier, further strengthening SurgePays' market position.
SurgePays reported a revenue of $51.1 million for 2021, down from $54.4 million in 2020, yet improved its gross profit to $6.2 million from $2.5 million. Gross margin increased to 12.1%. The net loss widened to $(13.5) million compared to $(10.7) million in 2020, but adjusted EBITDA loss narrowed to $(3.9) million from $(8.1) million. SurgePays expects total revenues of at least $130 million and adjusted EBITDA of at least $15 million in 2022, fueled by growth in its mobile broadband subscriber base.
