Vancouver, British Columbia, April 15, 2025 (GLOBE NEWSWIRE) -- Surge Copper Corp. (TSXV: SURG) (OTCQB: SRGXF) (Frankfurt: G6D2) ("Surge" or the "Company") is pleased to highlight results from an industrial energy efficiency study investigating the potential benefits of incorporating high-pressure grinding rolls ("HPGR") into the comminution circuit at its Berg Project in central British Columbia. The study, conducted by Ausenco Engineering Canada ULC with input and support provided by BC Hydro, evaluates t ...

Core Viewpoint - SurgePays (NASDAQ: SURG) has gained significant attention due to its strong growth prospects, particularly with its ACP program aimed at low-income earners, leading to a nearly 100% increase in stock price to $9 in 2024 [1] Group 1: Company Characteristics - SurgePays is recognized for its revenue, earnings, and free cash flow growth, making it an attractive investment option [1] - The company is noted for having excellent growth prospects, particularly in the mobile prepaid sector [1] - SurgePays is characterized by favorable valuations, appealing to investors looking for steadily growing companies [1] Group 2: Investment Preferences - The company aligns with investment preferences for high free cash flow margins, dividend stocks, and generous share repurchase programs [1]

SurgePays TodaySURGSurgePays$2.26 -0.09 (-3.62%) 52-Week Range$1.05▼$4.38Price Target$8.50Add to WatchlistSurgePays NASDAQ: SURG stock surged more than 70% after it issued solid guidance. That is the one reason to buy. The company expects the Q1 and possibly Q2 results to be soft, aligning with Q4 2024, but after years of efforts, revenue will start to blossom in the back half, and cash flow will turn positive. The forecast is for at least 225% annual growth and could be cautious. The company provides nume ...

SurgePays, Inc. (NASDAQ:SURG) Q4 2024 Earnings Conference Call March 25, 2025 5:00 PM ET Company Participants Brian Cox - President & Chief Executive Officer Anthony Evers - Chief Financial Officer Conference Call Participants Kunal Madhukar - Water Tower Research Anja Soderstrom - Sidoti Ed Woo - Ascendiant Capital Michael Diana - Maxim Group Operator Greetings. Welcome to SurgePays, Inc.'s Fourth Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question an ...

Core Insights - SurgePays, Inc. reported a quarterly loss of $0.93 per share, significantly worse than the Zacks Consensus Estimate of a loss of $0.27, marking an earnings surprise of -244.44% [1] - The company generated revenues of $9.6 million for the quarter ended December 2024, exceeding the Zacks Consensus Estimate by 20.11%, but down from $32.32 million year-over-year [2] - SurgePays, Inc. shares have declined approximately 26.4% year-to-date, contrasting with the S&P 500's decline of -1.9% [3] Financial Performance - Over the last four quarters, SurgePays, Inc. has consistently failed to meet consensus EPS estimates [2] - The current consensus EPS estimate for the upcoming quarter is -$0.20 on revenues of $12.2 million, and for the current fiscal year, it is -$0.17 on revenues of $91.43 million [7] Market Outlook - The company's earnings outlook will be crucial for future stock performance, with management's commentary on the earnings call expected to influence investor sentiment [3][4] - The Zacks Rank for SurgePays, Inc. is currently 3 (Hold), indicating that shares are expected to perform in line with the market in the near future [6] Industry Context - The Internet - Software industry, to which SurgePays, Inc. belongs, is currently in the top 50% of Zacks-ranked industries, suggesting a favorable environment compared to the bottom 50% [8] - Another company in the same industry, Snap (SNAP), is expected to report quarterly earnings of $0.04 per share, reflecting a year-over-year increase of +33.3% [9]

Revenue Performance - Revenue decreased by $76,260,659 (55.6%) from $137,141,832 in 2023 to $60,881,173 in 2024, primarily due to a decline in the Mobile Virtual Network Operator segment, which fell by $75,127,676 (63.4%)[133] - The Comprehensive Platform Services segment saw an increase in revenue of $6,077,905, attributed to an expanded sales force and the hiring of a new Director of Sales[136] - Total cost of revenue decreased from $101,499,341 in 2023 to $75,205,372 in 2024, reflecting a reduction in expenses associated with the Mobile Virtual Network Operator segment[140] - Other income increased by $636,868 in 2024, primarily due to a one-time reduction in accounts payable to CenterCom[147] Subscriber and Program Changes - The company transitioned over 80,000 subscribers to the Lifeline program in 2024, maintaining a subscriber base of 250,000 after the cessation of ACP funding[134][135] Expenses and Losses - General and administrative expenses rose by $10,681,045 (63.7%) from $16,777,107 in 2023 to $27,458,152 in 2024, driven by increased compensation and contractor costs[143][144] - The company incurred an aggregate impairment loss of $1,183,376 related to goodwill and software development assets due to the shuttering of LogicsIQ operations[147] - The Company recognized a net loss for the year ended December 31, 2024, leading to a decrease in total stockholders' surplus from $28,403,464 in 2023 to $15,261,613 in 2024, a decline of $12,643,578[171] - Net cash used in operating activities for 2024 was $(21,310,603), compared to a net cash provided of $10,287,345 in 2023[173] Shareholder Activities - The Company issued 3,080,356 shares of common stock for gross proceeds of $17,249,994 in January 2024, resulting in net proceeds of $15,854,994 after direct offering costs[149] - The Company issued 40,238 shares of common stock in connection with the cashless exercise of warrants, resulting in a net effect of $0 on stockholders' equity[153] - The Company issued 242,615 shares of common stock for services rendered in 2023, with a fair value of $1,290,024, averaging between $4.19 and $9.40 per share[158] - The Company implemented a share repurchase program in July 2024, reacquiring 362,620 shares for $631,967 at an average price of $1.74 per share[156] - The Company ceased its share repurchase program effective October 2024[157] Asset Management - Total assets decreased from $41,925,307 in 2023 to $23,976,005 in 2024, a reduction of $17,949,302, primarily due to the suspension of the Affordable Connectivity Program[170] - Current assets decreased from $33,366,661 in 2023 to $17,870,323 in 2024, resulting in a working capital surplus of $11,810,847[167] Future Outlook - The company expects to improve gross margins in the Comprehensive Platform Service segment during 2025 and aims to return to positive results in the MVNO segment[141] - The Company is exploring strategic opportunities for acquisitions but has no current commitments or known timing for such transactions[178] Accounting and Valuation - The Company recognized stock compensation expense of $529,534 related to vesting for the year ended December 31, 2023[166] - The Company uses the fair value method for equity instruments granted to non-employees and measures the fair value of options using the Black-Scholes model[193] - Outstanding warrants are classified as equity awards and are measured at fair value using the Black-Scholes option pricing model or a binomial pricing model for derivative liabilities[194] - Warrants issued in conjunction with common stock issuance are recorded at fair value as a reduction in additional paid-in capital[195] - All other warrants for services are recorded at fair value and expensed over the requisite service period or at the date of issuance if there is no service period[195] - The Company evaluates new accounting pronouncements to determine their potential impact on Consolidated Financial Statements[196] - There are no applicable quantitative and qualitative disclosures about market risk[197] Profitability Metrics - The gross profit margin for the Mobile Virtual Network Operator segment was -34.4% in 2024, down from 29.2% in 2023, while the Comprehensive Platform Services segment improved to 3.7% from 0.5%[142]

Completed AT&T integration positions company for its most aggressive growth phase to date with projected positive cash flow from operations in 2025 BARTLETT, Tenn., March 25, 2025 /PRNewswire/ -- SurgePays, Inc. (Nasdaq: SURG) ("SurgePays" or the "Company"), a wireless and point of sale technology company, today announced its financial results for the year ended December 31, 2024, and is issuing guidance of over $200 million in revenue over the next 12 months and positive cash flow from operations before th ...

BARTLETT, Tenn., March 11, 2025 /PRNewswire/ -- SurgePays, Inc. (NASDAQ: SURG) ("SurgePays" or the "Company"), a technology and telecommunications company, will release its fourth quarter and full year 2024 financial results and Form 10K, after the close of trading on Tuesday, March 25, 2025. On the same day, at 5:00 pm ET, management will host a conference call to discuss its financial results.The live webcast of the call can be accessed on the company's investor relations website at ir.surgepays.com, or b ...

Core Points - Surge Copper Corp. has granted equity-based incentive awards under its Share Compensation Plan, awarding 4,583,334 restricted share units (RSUs) to employees and executives, and 3,431,372 deferred share units (DSUs) to non-executive directors [1][2] - The RSUs will vest in equal annual installments over three years, while the DSUs will vest upon the holder's departure from the Company [2] - The Company has received TSX Venture Exchange approval for the MacLean East Property option agreement, capping the maximum number of Surge shares issuable at 18,722,222 [3] Company Overview - Surge Copper Corp. is advancing a critical metals district in British Columbia, owning a large mineral claim package with multiple advanced porphyry deposits containing copper, molybdenum, gold, and silver [4] - The Company holds a 100% interest in the Berg Project, which has a maiden Preliminary Economic Assessment (PEA) highlighting an NPV8% of C$2.1 billion and an IRR of 20% based on long-term commodity prices [5] - Surge also owns a 100% interest in the Ootsa Property, an advanced-stage exploration project with compliant resources of copper, gold, molybdenum, and silver [6]

Core Insights - SurgePays, Inc. has promoted Allison Seyler to vice president of sales, marking a significant milestone as she is the first female executive to hold this position in the company [1][4] - Seyler's previous role as director of sales saw her increase the retail partner network and achieve over 400% growth in cellular top-up revenues [2][4] - The company aims to scale its LinkUp Mobile service and enhance its digital services portfolio under Seyler's leadership [3][4] Company Overview - SurgePays, Inc. specializes in providing prepaid wireless and point-of-sale platform services, particularly in underserved communities through convenience stores and bodegas [7] Leadership Impact - Seyler's leadership is expected to drive sustainable growth and long-term shareholder value, with a focus on strategic partnerships and market development [4][5] - The company emphasizes a results-driven culture within the sales team to expand its distribution footprint nationwide [4][5]