SurgePays Passes 65,000 Mobile Broadband Subscribers
SurgePays, Inc. (Nasdaq: SURG) reported over $5 million in sales revenue for February 2022, driven by its mobile broadband subsidiary, SurgePhone Wireless. The company added 63,000 subscribers, significantly exceeding earlier targets. CEO Brian Cox anticipates reaching all 50 states within 30-45 days, aiming for over 200,000 subscribers in 2022. SurgePhone is licensed to offer subsidized services in 14 states, assisting low-income households through the Affordable Connectivity Program. Preliminary revenue estimates remain subject to auditing adjustments.
- Achieved over $5 million in revenue for February 2022.
- 63,000 new subscribers added in February, exceeding projections.
- Plans to expand service to all 50 states within 30-45 days.
- Potential to exceed the initial target of 200,000 subscribers in 2022.
- None.
- Sales Revenue Over
BARTLETT, Tenn., March 09, 2022 (GLOBE NEWSWIRE) -- SurgePays, Inc. (Nasdaq: SURG) (“SurgePays” or the “Company”), a technology and telecommunications company focused on the underbanked and underserved, continued growth in its mobile broadband subscriber business SurgePhone Wireless LLC (“SurgePhone”), the Company’s wholly owned subsidiary.
| Month | Total Subscribers* | Revenue Generated | |
| August | 800 | ||
| September | 7,000 | ||
| October | 13,000 | ||
| November | 19,000 | ||
| December | 30,000 | ||
| January | 45,000 | ||
| February | 63,000 | ||
*Rounded
Commenting on the growth in the mobile broadband business, Chairman and CEO Brian Cox stated, “Our mobile broadband channel continues to surpass internal expectations. Providing internet access to over 63,000 households, while achieving
“The Affordable Connectivity Program is an FCC benefit program that helps ensure that households have access to the broadband they need for work, school and healthcare. SurgePhone is licensed to offer this program in 14 states encompassing approximately 25 million qualified people. In Florida alone, it is estimated that 6.4 million households qualify. Making home internet affordable makes getting homework done, applying for jobs and receiving higher quality healthcare easier and more accessible to low-income households.”
SurgePhone is a licensed wireless provider capable of utilizing both the AT&T and T-Mobile nationwide network infrastructure to provide data and voice direct to consumers.
Preliminary revenues are estimates prior to the completion of the Company’s financial closing procedures and review procedures by its external auditors and, therefore, may be subject to adjustment when the actual results are available.
For more information on SurgePays, please visit the Company’s investor relations website at ir.surgepays.com.
About SurgePays, Inc.
SurgePays is a technology and telecommunications company focused on the on underbanked and underserved. SurgePhone wireless companies provide mobile broadband to low-income consumers nationwide. SurgePays fintech platform utilizes a suite of financial and prepaid products to convert corner stores and bodegas into tech-hubs for underbanked neighborhoods. SurgePays is aggressively cornering the underbanked market directly to the consumer and in the stores where they shop. Please visit www.SurgePays.com for more information.
About SurgePhone Wireless
SurgePhone, a wholly owned subsidiary of SurgePays, is a wireless company licensed by the FCC to provide subsidized mobile broadband services to consumers qualifying under the federal guidelines of the Affordable Communication Program (ACP). The ACP provides SurgePhone up to a
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FAQ
What was the revenue of SurgePays for February 2022?
How many subscribers did SurgePhone Wireless gain in February 2022?
What is SurgePays' plan for subscriber growth in 2022?
In how many states is SurgePhone licensed to provide subsidized services?
What program does SurgePhone utilize to assist low-income households?
