Surgepays Inc ( (SURG) ) has released its Q4 earnings. Here is a breakdown of the information Surgepays Inc presented to its investors.
SurgePays, Inc. is a wireless and point-of-sale technology company that operates a unique ecosystem combining prepaid wireless services, government-subsidized mobile plans, and a point-of-sale software platform, primarily serving community retail stores.
In its latest earnings report, SurgePays announced its financial results for 2024, highlighting a significant transition period marked by strategic investments and the completion of its integration with AT&T. The company has issued revenue guidance of over $200 million for the next 12 months and expects to achieve positive cash flow from operations by the end of 2025.
Key highlights from the report include the nationwide launch of LinkUp Mobile, a prepaid wireless brand, and the completion of a strategic agreement with AT&T to provide 4G LTE and 5G services. Additionally, SurgePays has launched its MVNE wholesale business, offering wireless infrastructure services to other companies, and has seen substantial growth in its point-of-sale platform, which increased prepaid wireless top-up revenue by over 400% in the first half of 2024.
Despite a challenging year with a net loss of $45.7 million, SurgePays is optimistic about its future, with its strategic investments laying the groundwork for growth and profitability in 2025. The company is focused on scaling its operations, expanding its customer base, and enhancing its revenue streams through its core MVNO and POS platforms.
Looking ahead, SurgePays is poised to enter its most aggressive growth phase, with management emphasizing execution, revenue acceleration, and delivering long-term value to shareholders as key priorities.