SURG$0.1546+0.39%
SurgePays, Inc.
Sector: Telephone Communications (No Radiotelephone)Industry: Software - ApplicationCountry: USExchange: Nasdaq
Mkt Cap:$8.18M
Float & O/S:43.99M / 52.91M
Inst Own:5.7%
DilutionScan read 32 of SurgePays, Inc.'s SEC filings and found 8 warrant series, 29 convertibles, 1 ATM program, 1 shelf registration and 8 completed offerings on file for SURG. The latest dilution event on file is ATM sales on Aug 19, 2026. Analysis updated Oct 11, 2026.
Signal8 Summary
SURG
Going-concern warning; negative margins
Snapshot
SurgePays is a tiny fintech and telecom firm in severe financial distress. While revenue was $57.0M in FY 2025, the company loses money on its core products, evidenced by a negative gross margin of -18.6%. This inefficiency drove a $36.1M net loss and a $21.3M cash burn for the year.
What's Happening Right Now
- : SurgePays formed Redline Wireless Group, a 51% owned joint venture targeting over 1 million subscribers across 20,000 dealers.
- : SurgePays reported its pilot rent-to-own smartphone program scaled 95x in 60 days to $142,725 in June sales.
- : SurgePays amended its agreement with a Tier 1 wholesale provider to eliminate a $50 million minimum purchase commitment, reducing accounts payable by $10.3M and generating a one-time gain.
- : Shareholders approved a proposal authorizing the issuance of shares equal to 20% or more of the company's stock to institutional investors.
- : SurgePays disclosed substantial doubt about its ability to continue as a going concern in its 10-Q filing, citing a working capital deficit of $21.8M and insufficient cash to meet obligations for more than one year.
