NASDAQ : SURG
SurgePays, Inc. — Financial statements
Communication Services · Telecom Services · United States
Last price 0.1714 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 8.95M
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Financial statements
SurgePays, Inc. (SURG) reported revenue of 67.06M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 67.06M | 56.96M | 60.88M | 137.14M | 121.54M | 51.06M |
| Cost of Revenue | 80.17M | 67.55M | 75.21M | 101.50M | 108.07M | 44.89M |
| Gross Profit | -13.11M | -10.59M | -14.32M | 35.64M | 13.47M | 6.17M |
| Selling, General & Admin | 19.41M | 20.07M | 27.46M | 16.78M | 12.84M | 12.16M |
| Operating Expenses | 10.90M | 20.07M | 27.46M | 16.78M | 12.84M | 12.16M |
| Operating Income | -24.02M | -30.66M | -41.78M | 18.87M | 633.78K | -5.99M |
| Interest Expense | -3.51M | -2.00M | -554.20K | -595.98K | -1.96M | -7.52M |
| Interest & Investment Income | 63.95K | 460.94K | ||||
| Other Non Operating Income (Expenses) | -1.11M | 7.14K | 636.87K | 336.73K | 409.45K | |
| EBT Excluding Unusual Items | -28.64M | -32.59M | -41.24M | 18.27M | -988.29K | -13.10M |
| Impairment of Goodwill | -3.30M | -3.30M | -866.78K | |||
| Gain (Loss) on Sale of Investments | -450.80K | 110.20K | -89.08K | 28.68K | ||
| Gain (Loss) on Sale of Assets | 1.90M | |||||
| Asset Writedown | -316.59K | |||||
| Legal Settlements | -3.75M | |||||
| Other Unusual Items | -176.85K | -176.85K | -194.86K | 524.14K | 1.40M | |
| Pretax Income | -32.11M | -36.07M | -43.07M | 18.38M | -553.23K | -13.53M |
| Income Tax Expense | 2.87M | -2.27M | ||||
| Earnings From Continuing Operations | -32.11M | -36.07M | -45.94M | 20.64M | -553.23K | -13.53M |
| Minority Interest in Earnings | 798.00 | 838.00 | 208.55K | -26.71K | -127.53K | |
| Net Income | -32.11M | -36.07M | -45.73M | 20.62M | -680.76K | -13.53M |
| Net Income to Common | -32.11M | -36.07M | -45.73M | 20.62M | -680.76K | -13.53M |
| Shares Outstanding (Basic) | 22.51M | 20.09M | 19.12M | 14.26M | 12.40M | 4.38M |
| Shares Outstanding (Diluted) | 22.51M | 20.09M | 19.12M | 14.92M | 12.40M | 4.38M |
| EPS (Basic) | -1.43 | -1.80 | -2.39 | 1.45 | -0.05 | -3.09 |
| EPS (Diluted) | -1.43 | -1.80 | -2.39 | 1.38 | -0.05 | -3.09 |
| Free Cash Flow | -15.39M | -21.31M | -21.83M | 10.29M | 781.87K | -15.34M |
| Free Cash Flow Per Share | -0.68 | -1.06 | -1.14 | 0.69 | 0.06 | -3.50 |
| Gross Margin | -19.56% | -18.59% | -23.53% | 25.99% | 11.08% | 12.08% |
| Operating Margin | -35.82% | -53.83% | -68.63% | 13.76% | 0.52% | -11.74% |
| Profit Margin | -47.89% | -63.32% | -75.11% | 15.03% | -0.56% | -26.50% |
| Free Cash Flow Margin | -22.95% | -37.41% | -35.85% | 7.50% | 0.64% | -30.04% |
| EBITDA | -23.26M | -29.80M | -40.84M | 19.80M | 1.57M | -5.23M |
| EBITDA Margin | -34.68% | -52.31% | -67.08% | 14.44% | 1.29% | -10.25% |
| D&A For EBITDA | 760.72K | 859.97K | 942.45K | 935.04K | 933.38K | 759.38K |
| EBIT | -24.02M | -30.66M | -41.78M | 18.87M | 633.78K | -5.99M |
| EBIT Margin | -35.82% | -53.82% | -68.63% | 13.76% | 0.52% | -11.74% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 1.95M | 1.73M | 11.79M | 14.62M | 7.04M | 6.28M |
| Cash & Short-Term Investments | 1.95M | 1.73M | 11.79M | 14.62M | 7.04M | 6.28M |
| Accounts Receivable | 1.83M | 4.05M | 3.00M | 9.54M | 9.23M | 3.25M |
| Receivables | 1.83M | 4.05M | 3.00M | 9.54M | 9.23M | 3.25M |
| Inventory | 253.86K | 339.57K | 1.78M | 9.05M | 11.19M | 4.36M |
| Prepaid Expenses | 396.37K | 581.82K | 298.36K | 161.93K | 111.52K | |
| Restricted Cash | 425.05K | 281.81K | 1.00M | |||
| Total Current Assets | 4.86M | 6.98M | 17.87M | 33.37M | 27.56M | 13.89M |
| Property, Plant & Equipment | 556.73K | 716.93K | 1.16M | 749.71K | 1.07M | 687.12K |
| Long-Term Investments | 464.41K | 354.21K | 443.29K | |||
| Goodwill | 3.30M | 1.67M | 1.67M | 866.78K | ||
| Other Intangible Assets | 492.40K | 819.15K | 1.47M | 2.67M | 3.17M | 3.43M |
| Long-Term Deferred Tax Assets | 2.83M | |||||
| Total Assets | 9.24M | 8.52M | 23.98M | 41.93M | 34.00M | 19.50M |
| Accounts Payable | 10.98M | 10.34M | 4.12M | 7.32M | 7.51M | 7.44M |
| Accrued Expenses | 166.36K | 555.07K | ||||
| Short-Term Debt | 2.26M | 1.83M | ||||
| Current Portion of Long-Term Debt | 11.60M | 5.80M | 1.69M | 4.58M | 2.65M | 1.68M |
| Current Portion of Leases | 212.31K | 220.00K | 248.07K | 43.14K | 39.49K | 49.35K |
| Current Income Taxes Payable | 570.00K | |||||
| Current Unearned Revenue | 20.00K | 243.11K | 276.25K | |||
| Other Current Liabilities | 1.11M | 13.02M | ||||
| Total Current Liabilities | 26.16M | 18.19M | 6.06M | 12.71M | 23.46M | 10.00M |
| Long-Term Debt | 3.83M | 5.63M | 2.34M | 460.52K | 5.02M | 5.51M |
| Long-Term Leases | 99.23K | 319.23K | 356.28K | 399.41K | 438.90K | |
| Total Liabilities | 29.99M | 23.92M | 8.71M | 13.52M | 28.89M | 15.95M |
| Common Stock | 27.21K | 21.85K | 20.43K | 14.40K | 14.12K | 12.06K |
| Additional Paid-In Capital | 88.66M | 83.25M | 76.84M | 43.42M | 40.78M | 38.66M |
| Retained Earnings | -107.75M | -96.98M | -60.92M | -15.19M | -35.80M | -35.12M |
| Treasury Stock | -1.63M | -1.63M | -631.97K | |||
| Total Common Equity | -20.69M | -15.35M | 15.32M | 28.25M | 4.99M | 3.55M |
| Minority Interest | -55.52K | -55.14K | -54.31K | 154.24K | 127.53K | |
| Shareholders' Equity | -20.75M | -15.40M | 15.26M | 28.40M | 5.12M | 3.55M |
| Total Liabilities & Equity | 9.24M | 8.52M | 23.98M | 41.93M | 34.00M | 19.50M |
| Total Debt | 17.90M | 13.58M | 4.59M | 5.44M | 8.11M | 7.68M |
| Net Cash (Debt) | -15.95M | -11.85M | 7.20M | 9.18M | -1.08M | -1.40M |
| Net Cash Per Share | -0.71 | -0.59 | 0.38 | 0.61 | -0.09 | -0.32 |
| Filing Date Shares Outstanding | 52.21M | 25.12M | 20.41M | 19.29M | 14.12M | 12.05M |
| Total Common Shares Outstanding | 26.51M | 21.15M | 20.07M | 14.40M | 14.12M | 12.06M |
| Working Capital | -21.30M | -11.21M | 11.81M | 20.66M | 4.10M | 3.89M |
| Book Value Per Share | -0.78 | -0.73 | 0.76 | 1.96 | 0.35 | 0.29 |
| Tangible Book Value | -21.19M | -16.17M | 10.54M | 23.92M | 156.78K | -749.21K |
| Tangible Book Value Per Share | -0.80 | -0.76 | 0.53 | 1.66 | 0.01 | -0.06 |
| Machinery | 1.30M | 1.30M | 1.30M | 1.09M | 1.09M | 366.24K |
| Leasehold Improvements | 324.90K | 324.90K | 306.31K |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -32.11M | -36.07M | -45.73M | 20.62M | -553.23K | -13.53M |
| Depreciation & Amortization | 995.05K | 1.11M | 1.07M | 978.52K | 988.70K | 917.47K |
| Other Amortization | 1.62M | 759.93K | 222.83K | 129.06K | 115.40K | 3.68M |
| Loss (Gain) From Sale of Assets | -1.90M | |||||
| Asset Writedown & Restructuring Costs | 3.30M | 3.30M | 1.18M | |||
| Loss (Gain) From Sale of Investments | 450.80K | -110.20K | 89.08K | -28.68K | ||
| Stock-Based Compensation | 4.60M | 3.28M | 8.77M | 2.43M | 140.68K | 3.58K |
| Provision & Write-off of Bad Debts | 90.01K | -59.48K | 24.84K | |||
| Other Operating Activities | -7.21M | 176.01K | -473.46K | 26.71K | -106.63K | -1.77M |
| Change in Accounts Receivable | -2.76M | -1.04M | 6.54M | -395.72K | -5.92M | -2.99M |
| Change in Inventory | 2.16M | 1.44M | 7.27M | 2.14M | -6.88M | -4.26M |
| Change in Accounts Payable | 14.45M | 6.28M | -2.87M | -25.75K | 154.24K | 4.81M |
| Change in Unearned Revenue | -20.00K | -223.11K | -33.14K | -167.05K | ||
| Change in Income Taxes | -570.00K | 570.00K | ||||
| Change in Other Net Operating Assets | -431.90K | -531.53K | 12.24K | -13.11M | 12.86M | -86.52K |
| Operating Cash Flow | -15.39M | -21.29M | -21.31M | 10.29M | 793.27K | -15.29M |
| Capital Expenditures | -18.59K | -518.19K | -11.40K | -51.41K | ||
| Cash Acquisitions | -2.50M | -800.00K | ||||
| Divestitures | -325.32K | |||||
| Sale (Purchase) of Intangibles | -281.30K | -687.18K | ||||
| Investment in Securities | 13.61K | |||||
| Investing Cash Flow | -18.59K | -3.00M | -281.30K | -1.50M | -376.72K | |
| Short-Term Debt Issued | 2.55M | |||||
| Long-Term Debt Issued | 15.08M | 6.70M | 5.97M | |||
| Total Debt Issued | 15.10M | 15.08M | 6.70M | 8.52M | ||
| Short-Term Debt Repaid | -824.86K | -1.53M | -1.02M | -2.47M | ||
| Long-Term Debt Repaid | -4.76M | -10.88K | -1.61M | -5.24M | -3.85M | |
| Total Debt Repaid | -5.49M | -5.59M | -1.54M | -2.63M | -5.24M | -6.33M |
| Net Debt Issued (Repaid) | 9.61M | 9.49M | -1.54M | -2.63M | 1.46M | 2.20M |
| Issuance of Common Stock | 4.29M | 1.77M | 26.05M | 207.24K | 473.00 | 21.30M |
| Repurchase of Common Stock | -631.97K | |||||
| Other Financing Activities | -536.70K | -731.20K | -1.40M | -2.22M | ||
| Financing Cash Flow | 13.37M | 10.53M | 22.48M | -2.42M | 1.46M | 21.27M |
| Net Cash Flow | -2.03M | -10.78M | -1.83M | 7.59M | 752.16K | 5.61M |
| Free Cash Flow | -15.39M | -21.31M | -21.83M | 10.29M | 781.87K | -15.34M |
| Free Cash Flow Margin | -22.95% | -37.41% | -35.85% | 7.50% | 0.64% | -30.04% |
| Free Cash Flow Per Share | -0.68 | -1.06 | -1.14 | 0.69 | 0.06 | -3.50 |
| Levered Free Cash Flow | -624.03K | -8.23M | -8.20M | 3.76M | -695.12K | -13.04M |
| Unlevered Free Cash Flow | -52.04K | -7.74M | -7.86M | 4.14M | 413.73K | -12.02M |
| Cash Interest Paid | 133.99K | 245.85K | 470.21K | 222.33K | 523.00K | 866.68K |
| Change in Working Capital | 13.41M | 6.15M | 13.19M | -13.88M | 178.75K | -2.68M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 8.04M | 35.14M | 35.39M | 92.51M | 82.20M | 24.33M |
| Enterprise Value | 23.99M | 44.95M | 16.27M | 85.45M | 87.91M | 34.63M |
| Last Close Price | 0.16 | 1.67 | 1.78 | 6.45 | 6.56 | 2.02 |
| PE Ratio | 4.49 | |||||
| Forward PE | 12.53 | 6.80 | 3.58 | 2.74 | ||
| PS Ratio | 0.12 | 0.62 | 0.58 | 0.68 | 0.68 | 0.48 |
| PB Ratio | -2.28 | 2.32 | 3.26 | 16.06 | 6.85 | |
| P/TBV Ratio | 3.36 | 3.87 | 524.32 | |||
| P/FCF Ratio | 8.99 | 105.14 | ||||
| P/OCF Ratio | 8.99 | 103.62 | ||||
| PEG Ratio | 0.45 | 0.45 | ||||
| EV/Sales Ratio | 0.36 | 0.79 | 0.27 | 0.62 | 0.72 | 0.68 |
| EV/EBITDA Ratio | 4.32 | 56.10 | ||||
| EV/EBIT Ratio | 4.53 | 138.71 | ||||
| EV/FCF Ratio | 8.31 | 112.44 | ||||
| Debt / Equity Ratio | -0.86 | -0.88 | 0.30 | 0.19 | 1.58 | 2.16 |
| Debt / EBITDA Ratio | 0.27 | 5.06 | ||||
| Debt / FCF Ratio | 0.53 | 10.37 | ||||
| Net Debt / Equity Ratio | -0.77 | -0.77 | -0.47 | -0.32 | 0.21 | 0.39 |
| Net Debt / EBITDA Ratio | -0.69 | -0.40 | 0.18 | -0.46 | 0.69 | -0.27 |
| Net Debt / FCF Ratio | -1.04 | -0.56 | 0.33 | -0.89 | 1.38 | -0.09 |
| Asset Turnover | 5.48 | 3.51 | 1.85 | 3.61 | 4.54 | 3.81 |
| Inventory Turnover | 60.17 | 63.70 | 13.89 | 10.03 | 13.90 | 19.79 |
| Quick Ratio | 0.14 | 0.32 | 2.44 | 1.90 | 0.69 | 0.95 |
| Current Ratio | 0.19 | 0.38 | 2.95 | 2.63 | 1.18 | 1.39 |
| Return on Equity (ROE) | -210.41% | 123.17% | -12.76% | |||
| Return on Assets (ROA) | -122.77% | -117.95% | -79.25% | 31.06% | 1.48% | -27.92% |
| Return on Capital Employed (ROCE) | 141.90% | 316.90% | -233.20% | 64.60% | 6.00% | -63.10% |
| Earnings Yield | -926.58% | -102.65% | -129.22% | 22.29% | -0.83% | -55.61% |
| FCF Yield | -189.45% | -60.65% | -61.69% | 11.12% | 0.95% | -63.04% |
| Buyback Yield / Dilution | -13.51% | -5.05% | -28.12% | -20.39% | -182.89% | -105.29% |