SurgePays, Inc. Warrant - SURGW STOCK NEWS

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.

SurgePays, Inc. (Nasdaq: SURG) will be participating in the Water Tower Research Fireside Chat Series on April 23, 2024, at 11:00am ET. Chairman and CEO Brian Cox will discuss LinkUp Mobile's service offering, competitive advantages, distribution strategy, and projected service unit economics.

SurgePays, Inc. (SURG) reported record financial results for 2023, with revenue reaching $137.1 million, EBITDA of $22.3 million, and net income of $20.6 million. The company's gross profit margin rose to 26%, showing significant growth. SurgePays acquired Clearline Mobile to enhance its services and plans to launch Linkup Mobile in 2024. Despite potential funding issues with the ACP program, SurgePays aims to expand its customer base and revenue streams through strategic initiatives.

SurgePays, Inc. (SURG) to host a conference call to discuss fourth quarter and full year 2023 earnings on March 12, 2024. Investors and analysts can access the live webcast or call in for details.

SurgePays, Inc. (Nasdaq: SURG) emphasizes its commitment to serving underbanked and underserved communities. Congressman David Kustoff visits SurgePays' headquarters to learn more about the company's essential business.

SurgePays, Inc. appoints Fintech veteran Derron Winfrey as VP of Business Development to drive innovation and implement new products and services. Mr. Winfrey brings 25 years of experience in the fintech industry and aims to foster strategic partnerships and seek potential acquisition targets. His expertise in prepaid and fintech space is expected to boost SurgePays' revenue growth and subscriber base.

SurgePays, Inc. (Nasdaq: SURG) has entered into a distribution agreement with SIN PIN, a telecommunications service provider focused on immigrant communities in the US, expanding its reach into thousands of stores in Hispanic communities. This partnership is expected to drive wireless subscriber growth in the Hispanic market, providing access to prepaid wireless services and the Affordable Connectivity Program (ACP) at retail locations. SurgePays' President, Jeremy Gies, highlighted the opportunity to significantly increase the company's wireless subscriber base through this strategic partnership. The distribution agreement allows SIN PIN to leverage SurgePays' software platform to activate prepaid wireless subscribers, providing cost savings and enriching the lives of Spanish-speaking customers. With over 150 team members in El Salvador, SurgePays is uniquely positioned to provide store and customer support for Spanish-speaking customers, aiming to make an impact in the Hispanic wireless market.

SurgePays, Inc. (Nasdaq: SURG) has successfully closed an underwritten public offering of 2,678,571 shares of its common stock, generating approximately $15 million in gross proceeds. The offering was priced at $5.60 per share and was made pursuant to an effective 'shelf' registration statement previously filed with the SEC. Titan Partners Group, a division of American Capital Partners, acted as the sole book-running manager for the offering.