Welcome to our dedicated page for SurgePays Warrant news (Ticker: SURGW), a resource for investors and traders seeking the latest updates and insights on SurgePays Warrant stock.
SurgePays, Inc. is a technology company with a focus on the underbanked community, offering services in telecommunications, fintech, and blockchain-oriented technologies. After a major reorganization merger in April 2018, Surge Holdings eliminated convertible debt, strengthened balance sheets, and uplisted to the OTCQB. The company now controls marketing arms, online distribution, merchant network distribution, and payment mechanisms, providing no-contract communication and financial technology services to the millennial population. Through DigitizeIQ and SurgePays, the company situates products in front of customers physically and through social media. Led by CEO Brian Cox, SurgePays is at the forefront of innovative tech solutions.
SurgePays, Inc. (SURG) reported preliminary financial results for Q4 2022, expecting revenues between $35 million and $36 million, contributing to a full year revenue projection of $120 million to $121 million, reflecting over 130% growth from 2021. The company is also positioned to achieve positive cash flow of $2 million to $3 million for the quarter. CEO Brian Cox emphasized significant growth driven by team efforts and expanding product lines for 2023, targeting revenue growth through subscriber and distribution partnerships.
SurgePays, Inc. (Nasdaq: SURG) has entered a Distribution Agreement with Capital Candy Co., a major distributor serving over 3,000 convenience stores in New England. This agreement enables SurgePays to provide its suite of prepaid telecom and fintech products, including Affordable Connectivity Program (ACP) applications, to Capital Candy's retailers. SurgePays President Jeremy Gies highlighted the partnership's potential for increased revenue and expansion into underbanked areas, emphasizing the efficiency of leveraging existing distribution networks for growth.
SurgePays, Inc. (Nasdaq: SURG) announced that CEO Brian Cox will present at the Virtual Investor 2023 Companies to Watch Event on January 19, 2023, at 4:00 PM ET. The live presentation will be accessible via a webcast on the Company’s website, with a replay available for 90 days following the event.
SurgePays focuses on providing technology and telecommunications solutions to the underbanked and underserved communities, offering services through SurgePhone Wireless and a blockchain fintech platform aimed at empowering local corner stores.
SurgePays, Inc. (Nasdaq: SURG) announces its achievement as a top 10 performing stock on NASDAQ in 2022 amidst a challenging market. The company emphasizes no dilutive capital raises, focusing on telecom subscriber growth by reinvesting cash flow. SurgePays aims to reach 500,000 subscribers, expanding product offerings to underbanked households. A $25 million credit facility is expected to enhance sales operations. The annual shareholder meeting is set for March 7, 2023, in Memphis, and new board additions signal strategic growth potential for 2023.
SurgePays, Inc. (Nasdaq: SURG) announced the election of Laurie Weisberg and Richard Schurfeld to its Board of Directors, effective immediately, alongside the resignation of Jay Jones. CEO Brian Cox expressed optimism about the new members' operational leadership experience and governance expertise, which are expected to benefit the company's growth. Weisberg brings over 30 years in digital technology management, while Schurfeld has a strong background in software-based telecom solutions. The board changes signal a strategic move to enhance leadership during a critical phase for SurgePays.
SurgePays, Inc. announced the closure of a $25 million senior secured credit facility from Affordable Connectivity Financing V LLC, with $15 million available at closing. This non-dilutive Installment Sale Agreement allows for repayment over the subscriber life, supporting SurgePays' goal of cash flow positive growth. CEO Brian Cox highlighted the company's revenue increase of 2.5X to over $36 million in Q3, expecting significant positive impacts on cash flow and balance sheet as they expand their subscriber base.
SurgePays reported impressive Q3 2022 results with a 149% year-over-year revenue increase, totaling $36.2 million. The company surpassed its 2022 target of 200,000 mobile broadband subscribers, achieving a 2.5X growth in revenue. Gross profit rose slightly by 1% to $1.9 million, while net loss improved to $(1.5 million) from $(1.7 million) a year prior. The company has integrated the ACP enrollment process into its platform, aiming to boost store count and enhance customer retention.
SurgePays, Inc. (Nasdaq: SURG) announced its third quarter 2022 earnings conference call scheduled for November 14, 2022, at 5:00pm ET. The call will focus on the company's operations as a technology and telecommunications provider targeting the underbanked and underserved markets. SurgePays aims to enhance access to mobile broadband and financial services for low-income consumers through its SurgePhone and fintech platform. Investors can access the live webcast through their investor relations site.
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