BARTLETT, Tenn., Feb. 02, 2026 (GLOBE NEWSWIRE) -- SurgePays, Inc. (NASDAQ: SURG), a wireless and fintech point of sale company connecting subprime and underserved consumers to essential mobile and financial services, today announced that its prepaid wireless brand, LinkUp Mobile, has surpassed 100,000 ongoing active subscriber lines. Surpassing 100,000 subscriber lines represents a meaningful milestone for LinkUp Mobile and reflects continued execution of SurgePays’ channel-driven growth strategy. The Comp ...

Over 100 retail investors participated in the transactionBARTLETT, Tenn., Jan. 26, 2026 (GLOBE NEWSWIRE) -- SurgePays, Inc. (NASDAQ: SURG), a wireless and fintech point of sale company connecting subprime and underserved consumers to essential mobile and financial services, today announced the closing of its previously announced underwritten public offering of 2,000,000 shares of common stock at a public offering price of $1.25 per share. Over 100 retail investors participated in the public offering. Gross ...

BARTLETT, Tenn., Jan. 21, 2026 (GLOBE NEWSWIRE) -- SurgePays, Inc. (NASDAQ: SURG), a wireless and fintech point of sale company connecting subprime and underserved consumers to essential mobile and financial services, today announced the pricing of its previously announced underwritten public offering of 2,000,000 shares of common stock at a public offering price of $1.25 per share, for aggregate gross proceeds of approximately $2.5 million, prior to deducting underwriting discounts and other offering expen ...

BARTLETT, Tenn., Jan. 20, 2026 (GLOBE NEWSWIRE) -- SurgePays, Inc. (NASDAQ: SURG), a wireless and fintech point of sale company connecting subprime and underserved consumers to essential mobile and financial services, today announced it has commenced an underwritten public offering of its common stock and/or pre-funded warrants. All shares of common stock and/or pre-funded warrants in the offering are to be offered by the Company. The offering is subject to market conditions, and there can be no assurance a ...

Core Insights - Alpha Modus Financial Services and SurgePays have signed a Letter of Intent to form a commercial integration and distribution partnership aimed at enhancing financial access for subprime and underserved consumers across the U.S. [1] - The partnership seeks to leverage SurgePays' extensive retail network to create a significant distribution channel for financial services [3][5] Industry Context - Over 100 million Americans visit convenience stores and small merchants monthly for essential services, many of whom are underserved and rely on prepaid mobile services or cash transactions [2] - SurgePays targets the underbanked population, which represents a substantial market opportunity for financial services [12] Partnership Objectives - The collaboration will integrate Alpha Modus' upcoming digital wallet, "Alpha Cash," allowing users to cash checks, pay bills, transfer funds, and purchase prepaid cards [4] - SurgePays aims to pre-load Alpha Cash on 3,000 new devices daily, enhancing customer engagement and financial inclusion [5] Strategic Implementation - The partnership will focus on integrating Alpha Cash as the primary financial services partner within SurgePays' retail assets, enhancing monetization and customer acquisition strategies [6] - SurgePays will utilize its existing platforms to promote Alpha Cash, aiming to improve unit economics and accelerate customer growth [6] Technical Integration - The LOI outlines plans for integrating SurgePays' Top-Up and benefits-enrollment platforms with Alpha Cash, as well as deploying SurgePays' ClearLine POS technology across the AMFS merchant network [7][9] - This integration is expected to create new pathways for financial empowerment and retailer growth [9] Future Steps - Both companies will work towards definitive agreements covering technical integration, pricing, revenue-sharing models, and pilot deployments with select AMFS merchants [9]

Group 1: Appointment of Jennifer Anthony - Surge Copper Corp. has appointed Jennifer Anthony as Vice President, Environment & Regulatory Affairs, effective January 12, 2026, to lead the company's environmental assessment and permitting strategy [1] - Ms. Anthony has over 20 years of senior leadership experience in British Columbia's public sector, with expertise in environmental assessment, regulatory permitting, and Indigenous engagement [2] - CEO Leif Nilsson emphasized that Ms. Anthony's experience and ability to navigate complex regulatory environments will be a significant asset as the company advances the Berg Project [3] Group 2: Long-Term Equity-Based Incentive Awards - Surge Copper Corp. has granted 2,169,041 restricted share units (RSUs) to employees and executives, and 1,501,642 deferred share units (DSUs) to non-executive directors, based on the 5-day volume weighted average price on the TSX Venture Exchange [4] - The RSUs will vest in equal annual installments over three years, while the DSUs will vest upon the holder's departure from the company [4] Group 3: Company Overview and Project Development - Surge Copper Corp. is advancing the Berg Project, which hosts a large-scale copper-molybdenum-silver deposit with strong development potential in British Columbia [6] - The company is conducting a Pre-Feasibility Study on the Berg Project to further define its technical and economic development potential [6] - Surge also controls a large mineral claim package that includes multiple advanced porphyry deposits, positioning the company as a future contributor to Canada's critical minerals strategy [7]

Core Viewpoint - Surge Copper Corp. has successfully completed its 2025 drilling and field program at the Berg Project, advancing towards a Pre-Feasibility Study (PFS) scheduled for H1-2026, with significant findings in resource category conversion and environmental assessments [1][3][4]. Group 1: Drilling Program Highlights - The 2025 program included 4,143 meters of diamond drilling, focusing on resource conversion, acid rock drainage characterization, and geotechnical investigations [6][30]. - Four infill drill holes targeting the outer margins of the deposit intersected continuous porphyry-style mineralization, expected to support the conversion of Inferred resources to Measured and Indicated categories [4][14]. - Resampling of historic core revealed a significant silver component in the northwest portion of the deposit, enhancing copper-equivalent values and indicating potential for resource upgrades [3][4]. Group 2: Resource Conversion and Assay Results - The drilling program successfully upgraded Inferred resources to Measured and Indicated categories, with all holes intersecting continuous mineralization below the PEA pit boundary [14][18]. - Notable assay results include hole BRG25-259, which returned 235 meters grading 0.31% copper equivalent, and hole BRG25-260, which returned 279 meters grading 0.20% copper equivalent [15][20]. - The re-assay program increased the dataset to 26,797 unique assay intervals, with 82.6% now including gold and silver analyses, significantly improving the quality of the dataset for future resource estimation [37][41]. Group 3: Environmental and Geotechnical Studies - Dedicated acid rock drainage and geotechnical drilling programs provided critical data for mine design and permitting, including the characterization of soil and rock properties [4][8]. - Preliminary static test results from the ARD holes indicate a transition to non-acid-generating rock with increasing distance from the deposit center, aiding in future mine planning [30][32]. - Baseline environmental studies continued, including fish habitat assessments and hydrometric station installations for water flow data collection [8].

Core Insights - SurgePays, Inc. is expanding its ProgramBenefits platform by integrating three lead generation aggregators to enhance customer acquisition and support growth in both subsidized and prepaid wireless channels [1][2][3] Group 1: ProgramBenefits Initiative - The addition of three aggregators is expected to generate approximately 10,000 new subprime leads daily at full scale, which will help lower wireless subscriber acquisition costs and create multiple revenue opportunities [2][4] - SurgePays' proprietary LogicsIQ engine will match consumers with the best offers across various services, establishing a predictable monetization cycle [2][3] Group 2: Business Model and Revenue Generation - The transition from field sales to a lead-generation model allows SurgePays to scale its wireless subscriber base more rapidly and at a lower acquisition cost, thereby reducing overall revenue costs [3][4] - Commissions and revenue shares from complementary product sales are anticipated to cover lead costs quickly, potentially eliminating acquisition costs altogether at scale [4] Group 3: Market Position and Growth Potential - SurgePays operates within the 138 million adult subprime sector, leveraging its dual role as a mobile telecom provider and fintech enabler to monetize consumers through digital channels and a network of over 9,000 retail locations [4][5] - The company aims to build a large base of subprime consumer data records, which is expected to generate significant revenue and position SurgePays for a breakout revenue year in 2026 [4][6]

Revenue Performance - SurgePays reported third quarter 2025 revenue of approximately $18.7 million, representing a 292% increase year-over-year and a 62% increase sequentially [2]. - The company reaffirmed its revenue guidance for 2026 at $225 million, supported by continued growth in Lifeline subscribers and expansion of prepaid retail distribution [5]. - Torch Wireless, a key growth driver, achieved revenue of $5.6 million with over 125,000 subscribers during the third quarter [4]. - Revenues for the three months ended September 30, 2025, were $18.68 million, a decrease from $51.28 million in the same period of 2024 [17]. Subscriber Growth - LinkUp Mobile surpassed 95,000 recurring active subscribers by the end of the third quarter, driven by expanded retail distribution and competitive pricing [4]. - The company aims to expand its retail locations operating on the SurgePays platform to 100,000, driven by organic growth and new distribution agreements [10]. - SurgePays has onboarded three MVNO partners to date, with additional partnerships in progress, enhancing its high-margin business model [10]. Financial Performance - SurgePays improved its gross profit loss to $(2.6) million in Q3 2025, compared to $(7.8) million in Q3 2024 [10]. - Selling, General and Administrative (SG&A) expenses decreased to $4.2 million, a 32.5% improvement year-over-year from $6.2 million [10]. - Total costs and expenses for the three months ended September 30, 2025, were $25.63 million, compared to $19.05 million in the same period of 2024, representing a 34.5% increase [17]. - Net loss available to common stockholders for the three months ended September 30, 2025, was $7.49 million, compared to a loss of $14.28 million in the same period of 2024 [17]. - Basic and diluted earnings per share for the three months ended September 30, 2025, were both $(0.38), an improvement from $(0.73) in the same period of 2024 [17]. - The company reported a net loss including non-controlling interest of $22.21 million for the nine months ended September 30, 2025, compared to $25.95 million in the same period of 2024 [19]. Cash Flow and Liquidity - Net cash used in operating activities for the nine months ended September 30, 2025, was $17.73 million, compared to $13.41 million in the same period of 2024 [19]. - Net cash provided by financing activities for the nine months ended September 30, 2025, was $7.47 million, a decrease from $23.03 million in the same period of 2024 [19]. - Cash, cash equivalents, and restricted cash at the end of the period were $2.51 million, down from $13.65 million at the end of the same period in 2024 [19]. Other Financial Metrics - The company recognized stock-based compensation of $526.13 thousand for unvested shares related to parties during the nine months ended September 30, 2025 [19]. - The company had a total other income (expense) - net of $(539.16) thousand for the three months ended September 30, 2025, compared to $1.02 thousand in the same period of 2024 [17]. - Total current liabilities increased to $17.7 million as of September 30, 2025, compared to $6.1 million at the end of 2024 [15].

Core Insights - SurgePays, Inc. has launched ProgramBenefits.com, a platform aimed at converting verified benefit-qualified consumers into recurring revenue opportunities targeting the underserved and subprime consumer market [1][3][5] - The platform is a reengineered version of SurgePays' legacy LogicsIQ system, designed to create a scalable data monetization strategy [1][4] - The initiative is part of SurgePays' broader strategy to transform its consumer data ecosystem into a high-margin revenue growth engine [2][8] Company Strategy - The launch of ProgramBenefits.com is a direct execution of the company's Growth Marketing and Data Partnerships roadmap, which aims to connect individuals receiving government benefits to various products and services [3][5] - SurgePays is focused on monetizing verified consumer engagement at scale, utilizing advanced technology for consumer verification and data analytics [4][5][8] - The company aims to reduce customer acquisition costs while creating new revenue streams through its wireless brands and data assets [5][6] Market Position - SurgePays targets a significant market, with nearly 57% of U.S. consumers classified as underserved or subprime, equating to approximately 138 million adults [5][6] - The company is positioned to grow across both retail and online channels, evolving into a leading digital marketplace for underserved populations [7][8] - By leveraging its existing infrastructure, SurgePays can generate revenue from marketing qualified leads and convert consumers into wireless subscribers [4][5]