SurgePays, Inc. (SURG)

From the record

SurgePays, Inc.'s filings since 2017 show 16 warning events of 3 kinds: a notice about its exchange listing (8-K item 3.01, 3 times, the latest 2026-09-29); an auditor change (8-K item 4.01, 5 times, the latest 2026-09-16); a late-report notice (Form NT 10-K or NT 10-Q, 8 times, the latest 2026-08-17) (its current reports).

From the record

SurgePays, Inc.'s 10 filed years say what it did: revenue went from $2 thousand in fiscal 2014 to $57 million in fiscal 2025, up 142.1% a year; it rose in 7 of 9 years; the deepest fall was 58% from fiscal 2023 to fiscal 2025; net income was positive in 2 of 10 of those years (its annual reports).

From the record

Return on equity: in the fiscal year ended 2025-12-31, SurgePays, Inc.'s shareholders' equity was below zero, so the profit on it is not read, and gross profitability: its products earned less than nothing, about minus 124 cents per dollar of everything the company owns (revenue less the cost of revenue). Leverage: it owed about 280 cents per dollar of assets, and net share issuance: its share count grew 5.1% over the year (the filed statements).

From the record

SurgePays, Inc.'s standing among 19 graded names in its industry family: revenue of $57 million in fiscal 2025 ranks in the bottom 19% by size; a net margin of -63.3% ranks in the bottom 3%; revenue growth of -22.3% a year over the last 3 filed years ranks in the bottom 8% (its annual reports).

From the record

SurgePays, Inc.'s leadership, from its insiders' filings and its current reports: the chief executive on the record is Cox, Kevin Brian (CEO & Chairman, as filed), filing under that title since 2020-10-09, 6.1 years (top 25% of its family); the 5 officers and directors filing in the last fifteen months have been on the record a median of 6.1 years (bottom 41%); 5 officer or director changes were reported on Form 8-K since 2023-11-13, against the 5 people in charge now (bottom 4%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.

From the record

SurgePays, Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of $2 million against debt of $13 million leaves -135.4% of its assets as net cash, bottom 3% of its family; cash from operations less capital spending is -37.4% of revenue (bottom 8%); a gross margin of -18.6% (bottom 6%) (its annual report).

From the record

SurgePays, Inc.'s growth drivers, from the filed years to fiscal 2025: revenue grew -22.3% a year over the last three filed years against 142.1% over all 10, slowing (bottom 3% of its family); the newest year grew -6.4% (bottom 8%); capital spending grew -22.5% a year (bottom 26%) (its annual reports). SurgePays, Inc. reported 2 product lines in fiscal 2025: Point of Sale and Prepaid Services at $44 million (76%), Mobile Virtual Network Operators at $13 million (24%); 1 of 2 grew against the year before (its annual report).

From the record

SurgePays, Inc.'s newest year against its own record: revenue of $57 million in fiscal 2025 came in 32.2% above the $43 million its prior three years' pace pointed to (top 15% of its family); net income of $36 million against a prior three-year average of $9 million (bottom 3%); a net margin of -63.3% against -20.2% before (bottom 3%) (its annual reports).