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Surgepays, Inc. (SURG) stock

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NASDAQ: SURG Nasdaq Wireless Telecommunication Services Next results ~November 11, 2026

C Fundamentals grade

Surgepays, Inc. is a US-listed company in the wireless telecommunication services industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$5.5

Revenue-to-maturity cash-flow model

Base case. Range ~$4.0–$7.3 across our lower- and higher-growth cases (25%–35% a year).

Price vs value

No Buy/Hold/Sell rating is issued: only 1 valuation models apply; a rating needs 3.

Surgepays, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders1 buying, 0 selling5 purchases and 0 sales by directors and officers, last 12 monthsInsider trades
  • Funds14 adding, 11 cuttingOf 2 active managers that changed their stake, 2 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Surgepays files

Where Surgepays stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $67m, up 83.9% on a year earlier, faster than the 55.8% growth a quarter earlier. Free-cash-flow margin rose to -23.0% from -94.1% a year earlier. Operating margin widened to -41.0% from -133.6%. The diluted share count is up 14.9% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades C+. It passes 1 of our 5 financial-health checks. Our revenue-to-maturity cash-flow model value is $5.39 a share, against a share price of $0.17.

Source: 10-Q filed August 19, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 11, 2026 (estimated)

Surgepays, Inc.'s trailing-twelve-month revenue grew 83.9% year on year, with a free-cash-flow margin of -23.0%. Where it stands out: days sales outstanding of 10 days ranks 1 of 7 wireless telecommunication services companies we cover. Where it lags: long-term debt as % of assets of 191.5% ranks 5 of 5 wireless telecommunication services companies we cover.

Current signal Revenue growth accelerating: TTM revenue growth rose to 83.9% (+28.1pp vs the prior quarter).

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 83.9% over the last 12 months, against a median of 16.6% for wireless telecommunication services companies we cover.
  • Growth speeding up. The growth rate is 28.1 points higher than a quarter earlier.
  • Margins widening. Operating margin is up 92.6 points on a year ago.

Things to watch

  • Loss-making. Operating margin is -41.0%: costs exceed revenue.
  • Burning cash. Free cash flow was -23.0% of revenue over the last 12 months.
  • Share dilution. Diluted shares rose 14.9% in a year.
  • Volatile shares. Over the past year the shares showed annualised volatility of 125% and a beta of 1.1 against the S&P 500.
  • Below peers: long-term debt as % of assets. Long-term debt as % of assets of 191.5% ranks 5 of 5 wireless telecommunication services companies we cover (median 40.5%).
  • Missing expectations. Earnings per share fell short of the consensus estimate in 3 of the last four quarters.

Latest results: FY2026 Q2

Filed August 19, 2026
Earnings per share
$0.05 against an average estimate of -$0.11: beat by 145.4%
Revenue
$16m, up 40.7% on a year earlier
Next report
November 11, 2026; average EPS estimate -$0.07

Surgepays' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-0.2%
  • 1 week+4.6%
  • 1 month+4.6%
  • This year-90.8%
  • 1 year-94.0%
  • 5 years-95.6%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$67.1M
Operating margin
-41.0%
Net margin
-47.9%
EPS (TTM, diluted)
$-1.43

Growth

Revenue growth
+83.9%
Change in growth rate
+28.1 pts
Share count change
+14.9%

Cash

Free cash flow (TTM)
-$15.4M
FCF margin
-23.0%

Earnings

Last results
May 20, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Announcement
  2. Deal
  3. Announcement
  4. Announcement
  5. Announcement

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Surgepays, Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: only 1 valuation models apply; a rating needs 3.

Valuation models

We value Surgepays, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 9.6%: the 10-year Treasury yield (4.9%) plus a beta of 1.03 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. ~$5.5 ~$4.0–$7.3 Left out: out of range vs price (35.65x)
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. — Does not apply: no positive earnings in the latest twelve months
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: book value or earnings not available
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Price-to-sales vs peers Sales per share times peers' typical price-to-sales; used only when earnings are negative. ~$0.7 ~$2.0–$4.7 Included, half weight
Combined value Weighted average of the models that apply: the primary model (revenue-to-maturity model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$0.7 ~$0.7–$4.7 1 model

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Surgepays, Inc. with Wireless Telecommunication Services in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20182019202020212022202320242025Now
Share price$19.00$15.00$5.90$2.02$6.56$6.45$1.78$1.67$0.15
Market value$186m$173m$76m$27m$81m$96m$34m$34m$3m
+ Net debt (− = net cash)$817888$9m$9m−$5m$2m−$10m−$8m$20m$21m
Enterprise value$187m$182m$85m$21m$83m$87m$26m$54m$24m
Multiples
Price / sales 12.2x6.7x1.4x0.5x0.7x0.7x0.6x0.6x0.1x
Price / earnings —————4.7x———
Price / free cash flow ————104.0x————
EV / EBITDA ————53.3x4.4x———

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

18 /100

Weak moat

How hard Surgepays's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Cash operating profit has been a median -54.3% of total assets over 7 years.

  • Pricing power 0 / 20

    Gross margin has been a median 14.7%, moving by 31.6 percentage points (standard deviation) across 10 years.

  • Durability 10 / 20

    Operating margin has been a median -18.7%; its worst year was -133.6%.

  • Cash conversion 3 / 20

    Free cash flow was positive in 2 of 6 years, at a median -16.3% of revenue.

  • Discipline 10 / 20

    The diluted share count rose 1201.5% over five years; stock-based pay has been a median 0.3% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (23 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 11, 2026, before the open. Analysts expect revenue of $17m and EPS of −$0.07 (range −$0.07 to −$0.07) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current −$0.44 +76% $65m +14%
Next $0.01 +102% $70m +8%

Next year's EPS estimate has moved −80.0% in 90 days, across 1 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −37.1% on 90 days ago. In the last 30 days, 0 analysts raised Surgepays, Inc.'s forecast and 1 cut it.

Consensus EPS forecast Surgepays, Inc., last 90 days
−$0.80 −$0.60 −$0.40 −$0.20 $0.00 $0.20 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: −$0.70 Current fiscal year, 60 days ago: −$0.70 Current fiscal year, 30 days ago: −$0.70 Current fiscal year, 7 days ago: −$0.70 Current fiscal year, Now: −$0.44 −$0.44 Next fiscal year, 90 days ago: $0.05 Next fiscal year, 60 days ago: $0.05 Next fiscal year, 30 days ago: $0.05 Next fiscal year, 7 days ago: $0.05 Next fiscal year, Now: $0.01 $0.01

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago −$0.70$0.05
60 days ago −$0.70$0.05
30 days ago −$0.70$0.05
7 days ago −$0.70$0.05
Now −$0.44$0.01

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 −$0.11 $0.05 +145.4%
Mar 2026 −$0.19 −$0.51 −168.4%
Dec 2025 −$0.16 −$0.69 −331.2%
Sept 2025 −$0.14 −$0.38 −162.1%

Adjusted EPS as companies report it, against the average analyst estimate.

Analyst recommendations

1 analysts, Oct 2026
Buy1100%
Hold00%
Sell00%

Monthly trend

  1. Oct 202611

Counts of recommendations published by analysts covering Surgepays, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
6.3%
of tradable shares
Days to cover
0.3
at average volume
Short interest, 1 month
−44%
to October 15, 2026
Held by institutions
6%
of shares
Held by insiders
19.4%
of shares
Employees
125
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

What moved the share price

Last 12 months −94.2%

$2.64 on October 31, 2025 to $0.15

ThenNowEffect
Revenue (last 12 months) $36m $67m +83.9%
P/S multiple 1.4x 0.1x −96.4%
Share count 20m 23m −13.0%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
SURG−66%+225%−2%−72%−6%−91%
Industry peers (median)−5%−38%+20%+39%+7%−11%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
SURG25%75%25%42%33%9%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
SURG−91%−40%−47%−85%−57%−94%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since January 17, 2018: 100% from January 17, 2018 to October 19, 2026. Getting back needed a 50755% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$0.12 – $2.85
From 52-week high
−94.6%
vs 50-day average
+2.0%
vs 200-day average
−69.8%
Volatility (1 year)
125%
Beta vs S&P 500
1.06

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
4 up, 4 down
typical move ±16.4%
After a week
4 up, 4 down
typical move ±18.4%
After a month
3 up, 5 down
typical move ±20.6%
Results releasedNext dayS&P 500 next day5 days21 days
May 20, 2026 −2.9% +1.2% +8.0% −23.4%
April 16, 2026 +20.4% +1.5% +21.5% −3.1%
November 13, 2025 −17.5% −1.7% −22.2% −32.1%
July 13, 2023 +14.8% +0.7% +10.8% +11.9%
March 2, 2023 −17.4% +2.4% −20.4% −20.4%
February 1, 2022 −2.4% +1.7% −6.1% +1.4%
January 11, 2022 +48.9% +1.2% +55.3% +55.9%
May 28, 2020 +7.3% +0.3% −3.1% −17.0%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Surgepays, Inc. in five measures

Fundamentals grade C
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Surgepays, Inc.
$0 $50M $100M $150M FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $141.1M Revenue (TTM), FY23 Q4: $137.1M Revenue (TTM), FY24 Q1: $133.8M Revenue (TTM), FY24 Q2: $113M Revenue (TTM), FY24 Q3: $83.6M Revenue (TTM), FY24 Q4: $60.9M Revenue (TTM), FY25 Q1: $40M Revenue (TTM), FY25 Q2: $36.5M Revenue (TTM), FY25 Q3: $50.4M Revenue (TTM), FY25 Q4: $57M Revenue (TTM), FY26 Q1: $62.4M Revenue (TTM), FY26 Q2: $67.1M $67.1M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $141.1M
FY23 Q4 $137.1M
FY24 Q1 $133.8M
FY24 Q2 $113M
FY24 Q3 $83.6M
FY24 Q4 $60.9M
FY25 Q1 $40M
FY25 Q2 $36.5M
FY25 Q3 $50.4M
FY25 Q4 $57M
FY26 Q1 $62.4M
FY26 Q2 $67.1M
Revenue growth, TTM YoY Surgepays, Inc.
-100% -50% 0% 50% 100% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 41.8% Revenue growth, TTM YoY, FY23 Q4: 12.8% Revenue growth, TTM YoY, FY24 Q1: -1.0% Revenue growth, TTM YoY, FY24 Q2: -21.0% Revenue growth, TTM YoY, FY24 Q3: -40.7% Revenue growth, TTM YoY, FY24 Q4: -55.6% Revenue growth, TTM YoY, FY25 Q1: -70.1% Revenue growth, TTM YoY, FY25 Q2: -67.7% Revenue growth, TTM YoY, FY25 Q3: -39.7% Revenue growth, TTM YoY, FY25 Q4: -6.4% Revenue growth, TTM YoY, FY26 Q1: 55.8% Revenue growth, TTM YoY, FY26 Q2: 83.9% 83.9%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 41.8%
FY23 Q4 12.8%
FY24 Q1 -1.0%
FY24 Q2 -21.0%
FY24 Q3 -40.7%
FY24 Q4 -55.6%
FY25 Q1 -70.1%
FY25 Q2 -67.7%
FY25 Q3 -39.7%
FY25 Q4 -6.4%
FY26 Q1 55.8%
FY26 Q2 83.9%
Operating margin (TTM) Surgepays, Inc.
-150% -100% -50% 0% 50% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 15.3% Operating margin (TTM), FY23 Q4: 13.8% Operating margin (TTM), FY24 Q1: 11.9% Operating margin (TTM), FY24 Q2: -1.0% Operating margin (TTM), FY24 Q3: -27.0% Operating margin (TTM), FY24 Q4: -71.4% Operating margin (TTM), FY25 Q1: -131.9% Operating margin (TTM), FY25 Q2: -133.6% Operating margin (TTM), FY25 Q3: -82.2% Operating margin (TTM), FY25 Q4: -59.9% Operating margin (TTM), FY26 Q1: -60.5% Operating margin (TTM), FY26 Q2: -41.0% -41.0%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 15.3%
FY23 Q4 13.8%
FY24 Q1 11.9%
FY24 Q2 -1.0%
FY24 Q3 -27.0%
FY24 Q4 -71.4%
FY25 Q1 -131.9%
FY25 Q2 -133.6%
FY25 Q3 -82.2%
FY25 Q4 -59.9%
FY26 Q1 -60.5%
FY26 Q2 -41.0%
FCF margin (TTM) Surgepays, Inc.
-100% -50% 0% 50% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 9.3% FCF margin (TTM), FY23 Q4: 7.5% FCF margin (TTM), FY24 Q1: 8.6% FCF margin (TTM), FY24 Q2: 8.8% FCF margin (TTM), FY24 Q3: -13.7% FCF margin (TTM), FY24 Q4: -35.0% FCF margin (TTM), FY25 Q1: -80.7% FCF margin (TTM), FY25 Q2: -94.1% FCF margin (TTM), FY25 Q3: -50.9% FCF margin (TTM), FY25 Q4: -37.4% FCF margin (TTM), FY26 Q1: -30.3% FCF margin (TTM), FY26 Q2: -23.0% -23.0%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 9.3%
FY23 Q4 7.5%
FY24 Q1 8.6%
FY24 Q2 8.8%
FY24 Q3 -13.7%
FY24 Q4 -35.0%
FY25 Q1 -80.7%
FY25 Q2 -94.1%
FY25 Q3 -50.9%
FY25 Q4 -37.4%
FY26 Q1 -30.3%
FY26 Q2 -23.0%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q, 10-Q/A. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2011 Apr 2011 2012 Apr 2012 2013 Apr 2013 2014 Apr 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 0 0 0 0 3 3 13 15 26 54 51 122 137 61 57 67
Gross profit — — — — 1 1 5 7 3 2 6 13 36 −14 −11 −13
EBITDA 0 −1 −0 −0 −1 −3 0 −1 −8 −9 −5 2 20 −43 −34 −27
Operating income 0 −1 −0 −0 −1 −3 0 −2 −8 −10 −6 1 19 −43 −34 −27
Net income −0 −1 −0 −0 −1 −5 3 −2 −8 −11 −14 −1 21 −46 −36 −32
Diluted EPS — −$0.01 $0.00 $0.00 −$0.01 −$0.02 $0.33 −$0.00 −$0.01 −$0.84 −$1.03 −$0.05 $1.38 −$2.39 −$1.80 −$1.43
Growth (year on year)
Revenue — −57.1% −30.7% +29.2% +>999% +16.4% +308.3% +13.3% +68.9% +111.3% −6.2% +138.0% +12.8% −55.6% −6.4% +83.9%
EBITDA — −252.7% — — — — — — — — — — — −314.8% — —
Operating income — −253.3% — — — — — — — — — — — −330.4% — —
Net income — — — — — — — −155.7% — — — — — −321.8% — —
Diluted EPS — — — — — — — −101.0% — — — — — −273.2% — —
Margins
Gross margin — — — — 17.7% 29.4% 39.9% 43.8% 12.1% 4.5% 12.1% 11.1% 26.0% −23.5% −18.6% −19.6%
EBITDA margin >999% <−999% <−999% <−999% −28.9% −81.1% 1.6% −9.1% −29.3% −16.5% −10.2% 1.3% 14.4% −69.8% −59.6% −40.8%
Operating margin >999% <−999% <−999% <−999% −46.6% −94.2% 1.5% −10.1% −30.2% −18.6% −11.7% 0.5% 13.8% −71.4% −59.9% −41.0%
Net margin <−999% <−999% <−999% <−999% −47.2% −139.5% 20.6% −10.1% −32.8% −19.7% −26.5% −0.6% 15.0% −75.1% −63.3% −47.9%
Free-cash-flow margin — — — — −8.3% −19.6% 0.6% −8.8% −26.3% −8.0% −30.0% 0.6% — −35.9% −37.4% −23.0%
Cash flow
Cash from operations −0 −0 −0 −0 −0 −1 0 −1 −7 −4 −15 1 10 −21 −21 −15
Capital spending — — — — 0 0 0 0 0 0 0 0 — 1 0 0
Free cash flow — — — — −0 −1 0 −1 −7 −4 −15 1 — −22 −21 −15
Stock-based pay — — — — 1 — — 0 0 0 0 0 1 2 2 —
Free cash flow after stock pay — — — — −1 — — −2 −7 −5 −15 1 — −23 −23 —
Balance sheet
Cash — — — — 0 0 1 0 0 1 6 7 15 12 2 2
Total debt 0 0 0 0 2 2 0 1 9 10 1 9 5 4 22 23
Net debt (negative = net cash) — — — — 2 1 −1 1 9 9 −5 2 −10 −8 20 21
Diluted shares 2m 3m 3m 3m 4m 5m 9m 10m 12m 13m 13m 12m 15m 19m 20m 23m
Returned to shareholders
Buybacks — — — — — — — — — 1 — — — — — —
Total returned — — — — — — — — — 1 — — — — — —

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

1 of 5 checks passed · June 30, 2026
What it owns · $9m
Short-term assets $5mLonger-term assets $4m
What it owes, and who funded it · $30m
Short-term liabilities $26mLonger-term liabilities $4mShareholders' equity $-21m
  • Short-term assets cover short-term liabilities $5m of assets due within a year against $26m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $5m short-term assets against $4m of longer-dated liabilities.
  • More cash than debt $2m of cash against $37m of debt.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt −$15m of operating cash flow against $37m of debt.
  • Operating profit covers interest at least five times over Operating income of −$27m against $4m of interest.

From Surgepays, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
+14.9%
year over year
Sales & admin spending
29.0%
of revenue
Days sales outstanding
10 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in wireless telecommunication services
Last 12 months unless stated SURG CHAI ASTS SPOK ECHO VOD Median
Revenue, last 12 months $67m $55m $115m $135m $14.7bn $46.9bn $135m
Revenue growth, last 12 months 83.9% 58.6% 706.3% −3.3% −5.2% 16.6% 16.6%
Revenue growth, 3-year average −22.3% — 160.0% −0.8% −6.4% — −0.8%
Revenue growth, latest quarter 40.7% — >999% −2.6% −4.0% — 7.4%
Gross margin −19.6% −0.5% 0.0% 78.6% — 31.5% 15.7%
Operating margin −41.0% −12.9% −38.6% 12.9% −112.7% 7.0% −12.9%
Operating margin, 3-year average −58.6% — — 13.6% −40.7% 10.6% 10.6%
Net margin −47.9% −57.2% −536.7% 13.9% −38.7% −1.0% −38.7%
Cash from operations / revenue −23.0% −12.0% −125.5% 24.7% −0.6% 35.3% −0.6%
Free-cash-flow margin −23.0% — <−999% 22.3% −4.9% 23.3% 7.5%
Free-cash-flow margin, 3-year average −36.1% — <−999% 19.8% −4.1% 26.2% 7.4%
Stock pay / revenue 0.2% — 128.3% 4.4% 0.5% 0.3% 0.7%
Change in share count 14.9% — — 2.4% −4.6% −8.1% −4.2%

Median of all 7 companies we cover in wireless telecommunication services. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

7 wireless telecommunication services companies
Measure Company Peer median Rank
Revenue growth Growth 83.9% 16.6% 2 of 7
Change in growth rate Growth +28.1pp +15.6pp 3 of 7
Operating margin Profitability -41.0% 7.0% 5 of 6
Net margin Profitability -47.9% -38.7% 5 of 7
Free-cash-flow margin Cash generation -23.0% 19.9% 5 of 6
Long-term debt as % of assets Balance sheet 191.5% 40.5% 5 of 5
Days sales outstanding Balance sheet 10 days 38 days 1 of 7

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Segments
Line of business Revenue Share YoY
Point of Sale and Prepaid Services $43.5M 76.4% ▲ 149.8%
Mobile Virtual Network Operator $13.5M 23.6% ▼ 69.0%
Products and services
Line of business Revenue Share YoY
Point of Sale and Prepaid Services $43.5M 76.4% ▲ 149.8%
Mobile Virtual Network Operators $13.5M 23.6% ▼ 69.0%

From Surgepays, Inc.'s 10-K filed April 15, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$833,071
Institutions reporting
35
Shares held vs prior quarter
▲ 4.7%
Positions opened / closed
8 / 6

Top buyers and sellers, Q2 2026: 14 institutions bought and 11 sold ; the biggest buyer was Millennium Capital Advisors, LLC (+125K shares) and the biggest seller CIBC Bancorp Usa Inc (−65K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Vanguard Capital Management LLC $204,816 567K 24.6% 0.0%
Gaddis Premier Wealth Advisors LLC $158,222 438K 19.0% 0.0%
Millennium Capital Advisors, LLC $75,810 210K 9.1% ▲ 147.1%
Cable Car Capital, LP $65,582 182K 7.9% 0.0%
Geode Capital Management, LLC $60,890 169K 7.3% ▼ 24.7%
Vanguard Fiduciary Trust Co $30,048 83K 3.6% 0.0%
Citadel Advisors LLC $30,022 83K 3.6% New
Cetera Investment Advisers $23,826 66K 2.9% 0.0%
State Street Corp $22,310 62K 2.7% 0.0%
Northern Trust Corp $19,011 53K 2.3% 0.0%
Renaissance Technologies LLC $18,375 51K 2.2% ▲ 2.0%
Ethos Financial Group, LLC $18,134 50K 2.2% ▲ 290.4%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Surgepays, Inc.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $83,008 5 trades by 1 insider, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $83,008 net buying
Insider Date Trade Shares Price Value
May David Allen Director June 5, 2026 Buy 34,716 $0.53 $18,399
May David Allen Director June 4, 2026 Buy 121 $0.53 $64
May David Allen Director June 3, 2026 Buy 5,413 $0.53 $2,869
May David Allen Director December 10, 2025 Buy 28,422 $1.60 $45,475
May David Allen Director December 10, 2025 Buy 10,000 $1.62 $16,200

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

  • May 20, 2026
  • April 16, 2026
  • November 13, 2025
  • July 13, 2023
  • March 2, 2023
  • February 1, 2022

Recent SEC filings

Data status

When each part of this page on Surgepays, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Surgepays, Inc. in brief

What does Surgepays, Inc. do?
Surgepays, Inc. is a US-listed company in the wireless telecommunication services industry. Its financial year ends in December.
What is Surgepays, Inc.'s stock ticker?
Surgepays, Inc. trades under the ticker SURG on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Surgepays, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Surgepays, Inc. reported revenue of $67.1M, 83.9% higher than a year earlier, according to its SEC filings.
What is Surgepays, Inc.'s free cash flow?
Surgepays, Inc.'s free-cash-flow margin is -23.0% of revenue over the trailing twelve months, ranking 5 of the 6 wireless telecommunication services companies we cover.
Who are Surgepays, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Vanguard Capital Management LLC, Gaddis Premier Wealth Advisors LLC and Millennium Capital Advisors, LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Surgepays, Inc.'s market cap?
On November 2, 2026, Surgepays, Inc.'s market capitalisation was about $3.5M and net debt of $20.7M. Market figures come from third-party market data and may be delayed.
Who are Surgepays, Inc.'s competitors?
In our Wireless Telecommunication Services peer group, the companies closest to Surgepays, Inc. are Core AI Holdings, Inc., AST Spacemobile, Inc., Spok Holdings, Inc, EchoStar and Vodafone Group Public LTD Co. The side-by-side comparison below sets their revenue, margins and growth against Surgepays, Inc.'s.
Are insiders buying or selling Surgepays, Inc. stock?
Over the last 12 months, Surgepays, Inc.'s directors and officers reported 5 open-market purchases and 0 sales on Form 4. The insider trading page charts every trade.
When is Surgepays, Inc.'s next earnings date?
Around November 11, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Surgepays, Inc. announces its own schedule.