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SurgePays, Inc.

SURG Communication Services Telecom Services

SurgePays, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $57.0 million, down 6.44% from fiscal 2024.

Revenue
+40.7%
EPS
+113.9%
Free cash flow
+57.0%
Total debt
−38.8%

Quarter to June 2026, against a year earlier

0.16 0.01 +6.67%
Market cap
$8.6M
P/E
0.0×
Fwd P/E
−0.4×
Dividend yield
—
F-score
3/9
Altman Z
−23.22
Beneish M
n/a
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 0.08
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy 1 — — — — — 1 — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 0.00%

Capital & Financial Ratios $m

Size
Market Cap 8.58
Revenue ttm 67.06
Net income ttm (32.11)
Free cash flow ttm (15.39)
Net debt Q 1.45
Valuation
P/E 0.00
Forward P/E (0.37) (negative: loss-making)
Price / sales 0.06
Forward P/S Powerpack
Price / FCF 0.00
Price / book 0.00
Financial health
Current ratio Q 0.19 (below 1: weak)
Debt / equity Q (0.18) (negative: negative equity)
Interest coverage Q 3.36
Growth
Revenue growth Q +40.69% (above 0%: growing)
Operating income growth Q +150.69% (above 0%: growing)
EPS, this year +75.56% (at or above 15%: strong)
EPS, next year A +102.27% (at or above 15%: strong)
Revenue, next year A −18.62% (below 0%: weak)
EPS, past 5 yrs —
EPS, next 5 yrs A −28.24% (below 0%: weak)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 0.2×, against a ten-year median of 0.6×; over the ten years it ranged from 0.0× in 2024 to 223× in 2019.
P/S against its own 10 years 2.13%
10-year low 10-year high
EV/Sales against its own 10 years 3.51%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 15 13 2 2
Receivables 10 3 4 2
Inventory 9 2 0 0
Other — — — —
33 18 7 5
2023 2024 2025 Q'26
Payables 7 4 10 11
ST’ Debt — — — —
Other — — — 1
13 6 18 26

Compound Annual Growth %

10y 5y 3y
Sales — 0.92% (22.32%)
Cash Flow — 0.00% 0.00%
Earnings — 0.00% 0.00%
Book Value — 0.00% 0.00%

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate −0.11 Actual 0.05

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q2 FY25 −0.31 −0.36 Miss by 0.05
Q3 FY25 −0.17 −0.38 Miss by 0.21
Q1 FY26 −0.19 −0.51 Miss by 0.32
Q2 FY26 −0.11 0.05 Beat by 0.16
Q3 FY26 −0.07 — Reports 11 November 2026

EPS $

Mar Jun Sep Dec Year
’26 (0.51) 0.05 — — —
’25 (0.38) (0.36) (0.38) (0.69) (1.80)
’24 0.07 (0.66) (0.73) (1.02) (2.39)
’23 0.31 0.40 0.49 0.19 1.38
’22 (0.10) (0.07) (0.12) 0.25 (0.05)
’21 (1.85) (0.07) (0.51) (0.88) (3.09)
’20 (0.03) (0.02) (1.09) (3.88) (5.02)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 16 16 — — —
’25 11 12 19 16 57
’24 31 15 5 10 61
’23 35 36 34 32 137
’22 21 28 36 36 122
’21 11 11 15 14 51
’20 16 15 13 11 54
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (5) (3) — — —
’25 (7) (6) (5) (4) (21)
’24 4 (4) (13) (8) (21)
’23 3 (3) 8 2 10
’22 (3) 0 (1) 5 1
’21 (3) (1) (2) (8) (15)
’20 (1) (1) (1) (1) (4)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (5) (3) — — —
’25 (7) (6) (5) (4) (21)
’24 4 (4) (13) (8) (22)
’23 3 (3) 8 2 10
’22 (3) 0 (1) 4 0
’21 (3) (1) (2) (8) (15)
’20 (1) (1) (1) (1) (4)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 3 13 15 26 54 51 122 137 61 57 67 +37.2% 46 50 — (6.2%)
Gross margin, % 16.23 39.85 43.78 12.12 4.54 12.08 11.08 25.99 (23.53) (18.59) (19.56) (34.8) pt
EBT (5) 3 (1) (8) (11) (14) (1) 18 (43) (36) (32) +25.7%
EBT margin, % (139.54) 20.56 (9.57) (32.81) (19.71) (26.50) (0.46) 13.40 (70.74) (63.32) (47.89) +76.2 pt
Net income (5) 3 (2) (8) (11) (14) (1) 21 (46) (36) (32) +25.7%
Per share, $
Per share, $ Revenue 3.68 0.18 0.19 0.27 25.50 11.65 9.81 9.62 3.18 2.84 2.59 (2.9%)
Earnings (5.00) 0.04 (0.02) (0.09) (5.02) (3.09) (0.05) 1.45 (2.39) (1.80) (1.53) (10.7%)
Cash flow (0.79) 0.00 (0.01) (0.07) (2.03) (3.49) 0.06 0.72 (1.11) (1.06) (0.59) +3.4%
Capex 0.00 0.00 0.00 0.00 0.00 (0.01) (0.06) (0.02) (0.03) 0.00 0.00 n/m
Free cash flow (0.79) 0.00 (0.02) (0.07) (2.03) (3.50) 0.01 0.70 (1.14) (1.06) (0.59) +3.4%
Book value (2.03) (0.01) (0.02) (0.05) (5.03) 0.81 0.41 1.99 0.80 (0.77) (0.80) (10.2%)
Shares, m 1 76 82 96 2 4 12 14 19 20 22 +41.3%
Valuation, ×
Valuation, × P/E 0.00 0.00 0.00 0.00 0.00 0.00 0.00 4.90 0.00 0.00 0.00 0.5
P/S 0.00 0.00 101.67 56.05 0.23 0.17 0.68 0.74 0.56 0.59 0.06 16.1
P/B 0.00 0.00 0.00 0.00 0.00 2.49 16.08 3.56 2.23 0.00 0.00 2.4
EV/Sales 0.00 0.00 101.71 56.34 0.28 0.25 0.70 0.67 0.47 0.74 0.16 16.1
EV/FCF 0.00 0.00 (1,525.99) (204.50) (3.48) (0.85) 899.77 9.19 (1.30) (1.93) (0.66) (82.9)
Cash, $m
Cash, $m Operating cash flow (1) 0 (1) (7) (4) (15) 1 10 (21) (21) (15) +46.0%
Capex 0 0 0 0 0 0 (1) 0 (1) 0 (1) +22.5%
Free cash flow (1) 0 (1) (7) (4) (15) 0 10 (22) (21) (15) +46.1%
Balance, $m
Balance, $m Working capital (3) 0 (2) (3) (14) 4 4 21 12 (11) (21) +14.6%
Net debt 2 0 1 8 2 (1) (2) (14) (10) 4 1 +5.5%
Shareholders’ equity (2) (1) (2) (5) (11) 4 5 28 15 (15) (21) +26.8%
Returns, %
Returns, % ROA (167.19) 101.87 (43.04) (120.07) (123.87) (100.88) (2.54) 54.31 (138.78) (222.02) (262.65) (54.8) pt
ROIC 0.00 0.00 0.00 (164.10) 0.00 (134.75) 12.76 82.79 (565.13) 0.00 0.00 0.0 pt
ROE 749.28 (226.39) 117.55 251.58 138.88 377.13 (15.71) 123.01 (209.45) 51,089.09 310.46 +50,339.8 pt
People
People Employees — — 15 30 31 32 20 22 130 125 — +35.4%
Revenue/emp, $m 0.00 0.00 1.02 0.86 1.76 1.60 6.08 6.23 0.47 0.46 — n/m
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

SurgePays, Inc. vs peers in Telecom Services (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
PCLA PicoCELA Inc. $57.7M — — — — +33.38% (above 0%: growing) — — Compare
CABO Cable One, Inc. $29.3M — (loss-making) — (loss-making) −11.66% (below 0%: shrinking) n/m +8.48% (above 0%: growing) 0.00% (103.25%) Compare
ELWT Elauwit Connection, Inc. $24.6M — (loss-making) — (loss-making) −46.38% (below 0%: shrinking) n/m −3,204.65% (below 0%: shrinking) 15.51% (108.54%) Compare
FNGR FingerMotion, Inc. $9.8M — (loss-making) — (loss-making) −96.75% (below 0%: shrinking) n/m +39.18% (above 0%: growing) 48.56% (1,966.81%) Compare
IOTR iOThree Limited $9.6M — — — — — — — Compare
SURG SurgePays, Inc. $8.6M — (loss-making) — (loss-making) +40.69% (above 0%: growing) n/m +57.02% (above 0%: growing) (2.62%) 21.30%
IQST iQSTEL Inc. $8.4M — (loss-making) — (loss-making) +51.10% (above 0%: growing) n/m −805.48% (below 0%: shrinking) 2.52% (1.03%) Compare
NIXX Nixxy, Inc. $5.9M — (loss-making) — (loss-making) +20.41% (above 0%: growing) n/m +17.55% (above 0%: growing) 0.25% (10.07%) Compare
UCL uCloudlink Group Inc. Sponsored ADR $5.6M — (loss-making) — (loss-making) −5.89% (below 0%: shrinking) n/m −244.47% (below 0%: shrinking) 50.24% (15.87%) Compare
Median of peers $9.7M — — −8.77% — +8.48% 9.02% (59.56%)

All 55 Telecom Services stocks →

Pay and ownership Proxy statement filed 7 May 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 2.04m 1.70m 82.67
2024 2.79m 1.34m 88.12
2023 1.65m 1.65m 319.31

Ownership

Directors and executive officers, together 29.17%
Kevin Brian Cox 28.00%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

SurgePays, Inc. (SURG) Latest News

3 Nov

Impact 3 · · GlobeNewswire

29 Oct

Impact 4 · · GlobeNewswire

15 Oct

Impact 4 · · GlobeNewswire

17 Sep

Impact 4 · · InvestorsHub
Impact 4 ·

10 Sep

Impact 4 ·

14 Aug

Impact 4 · · InvestorsHub
Impact 3 ·
Impact 3 ·

6 Aug

Impact 4 · · InvestorsHub
Impact 4 ·

5 Aug

Impact 4 ·

29 Jul

Impact 5 ·

1 Jul

Impact 3 ·

5 Jun

Impact 4 · · GlobeNewswire

1 Jun

Impact 3 · · Simply Wall St.

15 May

Impact 4 · · GuruFocus.com
Impact 4 · · GlobeNewswire

12 May

Impact 4 · · GlobeNewswire

7 May

Impact 4 · · GlobeNewswire

3 May

Impact 4 · · Simply Wall St.

21 Apr

Impact 4 ·

15 Apr

Impact 4 · · Moby
Impact 3 · · GuruFocus.com

14 Apr

Impact 4 · · GlobeNewswire

2 Apr

Impact 4 · · GlobeNewswire

26 Mar

Impact 4 · · GlobeNewswire

17 Mar

Impact 4 · · GlobeNewswire

2 Feb

Impact 4 ·

26 Jan

Impact 3 · · GlobeNewswireMT NewswiresMT NewswiresMT NewswiresMT NewswiresMT NewswiresMT NewswiresMT Newswires
stockrow.com/SURG · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com