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Surgepays (SURG) investor relations material
Surgepays Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2025 earnings summary13 Aug, 2025
Executive summary
Q2 2025 revenue was $11.5M, up 8.9% sequentially but down 23.7% year-over-year due to the end of the ACP program and a strategic shift to Lifeline and prepaid services.
Net loss for Q2 2025 was $7.1M, an improvement from $12.9M in Q2 2024, driven by cost reductions and a shift in revenue mix.
Lifeline and LinkUp activations surged, with Lifeline reaching 20,000 in June, 57,000 in July, and a projection of 80,000–90,000 by September; LinkUp activations more than doubled to over 30,000.
Completed AT&T network integration and signed a multi-year strategic partnership, expanding reach and enabling new MVNE platform launches.
Expanded retail and distribution network to over 9,000 locations, including major distributor agreements and the launch of the "phone in a box" product.
Financial highlights
Q2 2025 revenue: $11.5M, up from $10.6M in Q1 2025, but down from $15.1M year-over-year; six-month revenue: $22.1M, down from $46.5M.
Net loss for Q2 2025: $7.1M ($0.35–$0.36 per share), improved from $12.9M ($0.66 per share) in Q2 2024.
Gross margin for Q2 2025 was negative 23.0%, with revenue $11.5M and cost of revenue $14.2M.
SG&A/operating expenses decreased to $4.1M–$4.2M, down 45% year-over-year, mainly from lower stock compensation and professional fees.
Cash and equivalents at June 30, 2025: $4.4M, down from $11.8M at year-end 2024.
Outlook and guidance
2025 revenue guidance: $75M–$90M; 2026: $225M–$240M.
Management expects continued growth in Point-of-Sale and Prepaid Services, with gross margin improvement and positive operating cash flow anticipated by year-end 2025.
Strategic focus on expanding Lifeline enrollments, retail distribution, and MVNE platform deployments.
Current cash resources expected to fund operations through Q4 2025, with additional funding possible via ATM equity offering.
Focus on reaching cash flow positive by targeting high-margin states and scaling Lifeline activations.
What's driving the accelerated Lifeline activations?
How to balance Lifeline and LinkUp priorities?
What's the revenue uplift in high-revenue states?
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Q3 202511 Nov, 2025
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Frequently asked questions
Surgepays Inc. is a financial technology and telecommunications company focused on providing prepaid financial services and products to underserved communities. The company operates a digital platform that facilitates transactions for prepaid wireless services, financial services, and utility payments, catering primarily to unbanked and underbanked consumers. Surgepays partners with convenience stores, wireless retailers, and independent sales organizations to deliver its products through a nationwide distribution network. Its offerings also include software solutions to streamline operations for its retail partners. The company is headquartered in Bartlett, Tennessee, and its shares are listed on the NASDAQ.
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