Financial Data and Key Metrics Changes - Third quarter 2025 revenue totaled approximately $18.7 million, an increase of 292% year-over-year compared to $4.8 million in Q3 2024, and over 62% sequentially [5][14] - Gross profit loss narrowed to $2.6 million in Q3 2025 from a loss of $7.8 million in Q3 2024, indicating an improvement in gross margin [14] - Loss from operations was $7 million in Q3 2025, down from $14.3 million in Q3 2024 [15] - Reported net loss for Q3 2025 was $7.5 million, translating to a loss per share of negative $0.38 [15] Business Line Data and Key Metrics Changes - Revenue from the MVNO brand, Torch Wireless, increased from virtually zero in Q3 2024 to $5.6 million in Q3 2025, driven by the Lifeline program [6] - Point of sale and prepaid services revenue rose to $13.1 million, a 177% increase year-over-year [7] - The Clearline SaaS platform is expected to achieve positive gross margins by the end of 2025 [14] Market Data and Key Metrics Changes - SurgePays has over 125,000 subscribers for Torch Wireless, growing from 20,000 subscribers since activation in June [6] - The subprime market has expanded from $100 million to approximately $137 million over the past four years, indicating a growing target market for the company [22][23] Company Strategy and Development Direction - The company is focused on integrating technology with a nationwide retail distribution network to serve underserved communities [4] - SurgePays aims to achieve profitability with minimal impact on the cap table and dilution, while targeting $225 million in revenue for 2026 [12][16] - A new Growth Marketing and Data Partnerships division has been launched to transform consumer data into a scalable, high-margin growth engine [17][18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to execute its strategy and navigate the industry, highlighting the importance of customer intelligence and marketing execution as competitive advantages [12][19] - The company is in "acceleration mode," with activation growth and expanding distribution supporting its confidence in creating significant shareholder value [19] Other Important Information - SurgePays is in advanced talks with national convenience store distributors to expand its retail footprint [9] - The partnership with Corpay aims to integrate Clearline's marketing tools into Corpay's payment processing solution, creating new revenue streams [11] Q&A Session Summary Question: Feedback from convenience store owners regarding the underserved market - Management noted that convenience store owners are open to new products and services, especially during uncertain times, creating opportunities for SurgePays [22][23] Question: Impact of consolidation among major convenience store brands - Management believes that the autonomy of store owners will remain intact despite consolidation, and they continue to build strong relationships with these owners [26][28]