Saturday 17 October 2026 Export SURG’s income statement to Excel — free account

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. In the quarter to June 2026, revenue grew 40.7%, EPS grew 113.9%, free cash flow grew 57.0% and total debt fell 38.8%, each against the same quarter a year earlier. Insiders bought in the last twelve months.

0.12 0.01 −7.69%

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Market cap: $6.7M
P/E: 0.0×
Fwd P/E: −1.1×
Dividend yield: —
F-score: 3/9
Altman Z: −23.22
Beneish M: n/a
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total buys 0.08

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	1	—	—	—	—	—	1	—	—	—	—
Sell	—	—	—	—	—	—	—	—	—	—	—	—

Insider Ownership 0.00%

Capital & Financial Ratios $m

Market Cap 6.73

Revenue 67.06

Net Income (32.11)

Free Cash Flow (15.39)

Net Debt 1.45

Current Ratio 0.19

Debt/Equity (0.18)

P/E ratio 0.00

Fwd P/E (1.07)

P/S ratio 0.05

P/B ratio 0.00

Past 5Y EPS Growth —

This Y EPS Growth 75.56%

Next Y EPS Growth 102.27%

Next Y revenue growth (20.33%)

Next 5Y EPS Growth (28.24%)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/S against its own 10 years 0.10%

10-year low 10-year high

EV/Sales against its own 10 years 1.28%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
2024	Powerpack
2023	Powerpack
2022	Powerpack

special payouts not included in total or ratios

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%

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.

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.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	2.15	2.00	9.00	12.80	2.30	2.01	1.76	3.88	1.33	1.05	Analyst estimates 2026–2028 Powerpack
	High	24.00	42.50	72.50	47.00	22.00	28.50	7.61	8.33	9.23	3.47
People
People	Employees	—	—	15	30	31	32	20	22	130	125
	Revenue/emp, $m	0.00	0.00	1.02	0.86	1.76	1.60	6.08	6.23	0.47	0.46
Income, $m
Income, $m	Revenue	3	13	15	26	54	51	122	137	61	57
	Gross margin, %	16.23	39.85	43.78	12.12	4.54	12.08	11.08	25.99	(23.53)	(18.59)
	EBT	(5)	3	(1)	(8)	(11)	(14)	(1)	18	(43)	(36)
	EBT margin, %	(139.54)	20.56	(9.57)	(32.81)	(19.71)	(26.50)	(0.46)	13.40	(70.74)	(63.32)
	Net income	(5)	3	(2)	(8)	(11)	(14)	(1)	21	(46)	(36)
	Depreciation	0	0	0	0	3	5	1	1	2	5
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
	Earnings	(5.00)	0.04	(0.02)	(0.09)	(5.02)	(3.09)	(0.05)	1.45	(2.39)	(1.80)
	Cash flow	(0.79)	0.00	(0.01)	(0.07)	(2.03)	(3.49)	0.06	0.72	(1.11)	(1.06)
	Capex	0.00	0.00	0.00	0.00	0.00	(0.01)	(0.06)	(0.02)	(0.03)	0.00
	Free cash flow	(0.79)	0.00	(0.02)	(0.07)	(2.03)	(3.50)	0.01	0.70	(1.14)	(1.06)
	Book value	(2.03)	(0.01)	(0.02)	(0.05)	(5.03)	0.81	0.41	1.99	0.80	(0.77)
	Shares, m	1	76	82	96	2	4	12	14	19	20
Valuation, ×
Valuation, ×	P/E	0.00	0.00	0.00	0.00	0.00	0.00	0.00	4.90	0.00	0.00
	P/S	0.00	0.00	101.67	56.05	0.23	0.17	0.68	0.74	0.56	0.59
	P/B	0.00	0.00	0.00	0.00	0.00	2.49	16.08	3.56	2.23	0.00
	EV/Sales	0.00	0.00	101.71	56.34	0.28	0.25	0.70	0.67	0.47	0.74
	EV/FCF	0.00	0.00	(1,525.99)	(204.50)	(3.48)	(0.85)	899.77	9.19	(1.30)	(1.93)
Cash, $m
Cash, $m	Operating cash flow	(1)	0	(1)	(7)	(4)	(15)	1	10	(21)	(21)
	Capex	0	0	0	0	0	0	(1)	0	(1)	0
	Free cash flow	(1)	0	(1)	(7)	(4)	(15)	0	10	(22)	(21)
Balance, $m
Balance, $m	Working capital	(3)	0	(2)	(3)	(14)	4	4	21	12	(11)
	Total debt	2	1	1	8	3	6	5	0	2	6
	Net debt	2	0	1	8	2	(1)	(2)	(14)	(10)	4
	Shareholders’ equity	(2)	(1)	(2)	(5)	(11)	4	5	28	15	(15)
Returns, %
Returns, %	ROA	(167.19)	101.87	(43.04)	(120.07)	(123.87)	(100.88)	(2.54)	54.31	(138.78)	(222.02)
	ROIC	0.00	0.00	0.00	(164.10)	0.00	(134.75)	12.76	82.79	(565.13)	0.00
	ROE	749.28	(226.39)	117.55	251.58	138.88	377.13	(15.71)	123.01	(209.45)	51,089.09

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

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.	$64.4M	—	—	—	—	+33.38% (above 0%: growing)	—	—	Compare
CABO Cable One, Inc.	$48.1M	— (loss-making)	1.9×	−8.44% (below 0%: shrinking)	n/m	−38.89% (below 0%: shrinking)	71.71%	(150.44%)	Compare
ELWT Elauwit Connection, Inc.	$36.9M	— (loss-making)	— (loss-making)	−46.38% (below 0%: shrinking)	n/m	−3,204.65% (below 0%: shrinking)	15.51%	(108.54%)	Compare
IOTR iOThree Limited	$12.7M	—	—	—	—	—	—	—	Compare
FNGR FingerMotion, Inc.	$12.3M	— (loss-making)	— (loss-making)	−92.31% (below 0%: shrinking)	n/m	−94.50% (below 0%: shrinking)	32.07%	(297.51%)	Compare
IQST iQSTEL Inc.	$10.1M	— (loss-making)	— (loss-making)	+51.10% (above 0%: growing)	n/m	−805.48% (below 0%: shrinking)	2.52%	(1.03%)	Compare
SURG SurgePays, Inc.	$6.7M	— (loss-making)	— (loss-making)	+40.69% (above 0%: growing)	n/m	+57.02% (above 0%: growing)	(2.62%)	21.30%
UCL uCloudlink Group Inc. Sponsored ADR	$6.2M	— (loss-making)	— (loss-making)	−5.89% (below 0%: shrinking)	n/m	−244.47% (below 0%: shrinking)	50.24%	(15.87%)	Compare
COMS COMSovereign Holding Corp.	$1.2M	— (loss-making)	— (loss-making)	−93.41% (below 0%: shrinking)	n/m	−264.29% (below 0%: shrinking)	58.40%	(403.60%)	Compare
Median of peers	$12.5M	—	—	−27.41%	—	−244.47%	41.15%	(129.49%)

All 55 Telecom Services stocks →

SurgePays, Inc. (SURG) key facts

Concern: SurgePays, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $57.0 million, down 6.44% from fiscal 2024.
SurgePays, Inc. (SURG) is a Telecom Services company in the Communication Services sector, listed on Nasdaq.
As of October 16, 2026, SURG traded at $0.12, a market capitalization of $6.7 million.
Return on equity was 51,089.1% and debt-to-equity -0.18.
Its Piotroski F-score is 3 out of 9 and its Altman Z-score is −23.22 (distress zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.