CEO Brian Cox stated, "We are excited to deliver this service to the expanding robust prepaid market in North America. We aim to revolutionize the industry with our unique subscription model. Subscribers enjoy a free first month of service and ongoing savings of up to 10% each month, setting us apart from the competition. Our goal was to create operational and economic efficiencies to enable us to offer a free month of service and ongoing savings to the consumer for their loyalty. We believe a huge opportun ...

BARTLETT, Tenn., June 06, 2024 (GLOBE NEWSWIRE) -- SurgePays, Inc. (NASDAQ: SURG) ("SurgePays" or the "Company"), a technology and telecom company focused on the underbanked and underserved, announced today that they have launched the LinkUp Mobile website, www.linkupmobile.com, and are well underway in the national rollout. LinkUp Mobile is not just for the underbanked; it's for anyone value-conscious looking to save money on their monthly wireless bills. LinkUp Mobile will offer a range of innovative wire ...

Financial Data and Key Metrics Changes - Overall revenues for Q1 2024 were $31.4 million, a decrease of 10% compared to $34.8 million in Q1 2023, primarily due to operational changes that eliminated $3.2 million from LogicsIQ revenue [66] - Gross profit increased by 6% to $8.2 million, with gross margin improving to 26% from 22.1% in the prior year [24][42] - Income from operations was $1.8 million, down from $4.6 million in the year-ago period, while net income was $1.2 million, or $0.07 per share, compared to $4.5 million, or $0.32 per share previously [27][66] - Cash balance as of March 31, 2024, was $42.9 million, significantly up from $14.6 million at year-end 2023, due to a capital raise and warrant exercises [12] Business Line Data and Key Metrics Changes - The mobile virtual network operator (MVNO) wireless revenue slightly increased from $28.7 million in Q1 2023 to $28.9 million in Q1 2024 [39] - SG&A expenses rose by 115% year-over-year, mainly due to non-cash stock compensation for management and additional contractor fees related to acquisitions [42] Market Data and Key Metrics Changes - The company is focusing on the underbanked and underserved populations, leveraging convenience stores as distribution points for its prepaid wireless and financial products [20][36] - The Affordable Connectivity Program (ACP) funding situation remains uncertain, impacting customer acquisition strategies [21][21] Company Strategy and Development Direction - The company plans to aggressively promote its new prepaid wireless brand, LinkUp Mobile, and aims to build a large distribution network regardless of ACP funding outcomes [24][25][40] - A strategic plan has been developed to replace or exceed ACP revenue within 12 months, focusing on the rollout of LinkUp Mobile and leveraging existing distribution channels [38] - The company is exploring creative acquisitions that complement its business model, with a focus on positive net earnings [65] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the potential for ACP funding but emphasized that the company is not reliant on it for growth [21][32] - The team is confident in their ability to execute their business model and achieve significant revenue growth through strategic partnerships and organic sales [40][41] - Management highlighted the importance of focusing on subscriber growth and market penetration over short-term gross margin improvements [90] Other Important Information - The company has signed over nine master nationwide dealers for LinkUp distribution, which is expected to enhance revenue growth independently of ACP [11] - The company is actively monitoring competitors and exploring acquisition opportunities to strengthen its market position [14][52] Q&A Session Summary Question: What is the current status of ACP funding? - Management noted that there is positive momentum in Washington regarding ACP funding, with several senators advocating for it, but the situation remains fluid [70][71] Question: Will the company consider major acquisitions in the MVNO space? - Management indicated that they are open to exploring significant acquisitions if they align with the company's strategic goals and provide a compelling offer [52][77] Question: How does the company plan to utilize its cash reserves? - The company plans to invest in growth initiatives, including the rollout of LinkUp Mobile and potential acquisitions that complement its business model [65][90] Question: What are the expectations for gross margins moving forward? - Management stated that gross margins may fluctuate based on promotional activities and subscriber acquisition strategies, but long-term growth remains the priority [104] Question: How is the transition from ACP affecting the business? - Management acknowledged that the transition has impacted top-line revenue but emphasized that the focus remains on building a sustainable business model independent of ACP [102][103]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________________ to ________________ Commission file number 001-40992 SURGEPAYS, INC. (Exact name of registrant as specified in its charter) | Nevada | 98-055 ...

SurgePays, Inc. (NASDAQ:SURG) Q4 2023 Earnings Conference Call March 12, 2024 5:00 PM ET Company Participants Quinn Callanan - Investor Relations Brian Cox - President & Chief Executive Officer Tony Evers - Chief Financial Officer Conference Call Participants Curtis Shauger - Water Tower Research Ed Woo - Ascendiant Capital Operator Good afternoon, everyone, and welcome to today's SurgePays Fourth Quarter and Full Year 2023 Earnings Conference Call. At this time, all participants will be in a listen-only mo ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-40992 SURGEPAYS, INC. (Exact Name of Registrant as Specified in Its Charter) Nevada 98-0550352 (State or Other Jurisdiction of Incorporation or Organization) 3124 Brot ...

SurgePays, Inc. (NASDAQ:SURG) Q3 2023 Earnings Conference Call November 14, 2023 5:00 PM ET Company Participants Brian Prenoveau - IR Brian Cox - President & CEO Anthony Evers - CFO Conference Call Participants Michael Diana - Maxim Group Edward Woo - Ascendiant Capital Operator Good day, and welcome to the SurgePays' Q3 2023 Earnings Conference Call. All participants will be in a listen-only mode. [Operator Instructions] After today’s presentation, there will be an opportunity to ask questions. [Operator I ...

FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 For the quarterly period ended September 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________________ to ________________ Commission file number 001-40992 SURGEPAYS, INC. (Exact name of registrant as specified in its charter) | Nevada | 98 ...

SurgePays, Inc. (NASDAQ:SURG) Q2 2023 Earnings Call Transcript August 10, 2023 5:00 PM ET Company Participants Brian Prenoveau - IR Brian Cox - President and CEO Tony Evers - CFO Conference Call Participants Ed Woo - Ascendiant Capital Michael Diana - Maxim Group Operator Good day, and welcome to the SurgePays Second Quarter 2023 Earnings Conference Call. All participants will be in a listen-only mode. [Operator Instructions]. After today’s presentation, there will be an opportunity to ask questions. [Opera ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________________ to ________________ Commission file number 001-40992 SURGEPAYS, INC. (Exact name of registrant as specified in its charter) Nevada 98-0550352 ...