Surgepays Inc
surgepays.comWhat Do They Do?
Provides point-of-sale transaction processing and prepaid wireless products to convenience-store operators, and mobile connectivity to underserved consumers.
10-K for FY2025, filed Apr 15, 2026SurgePays, Inc. (“SurgePays”, “we”, the “Company”) is a wireless and point of sale technology company focused on serving underserved and…View ↗
The Company provides mobile connectivity, financial technology services, and transaction processing solutions through an integrated…View ↗
Through these channels, the Company enables in-store and online activation of wireless services, prepaid top-ups, and financial…View ↗
The Company’s platform services segment includes point of sale transaction processing and related software solutions for retail partners.…View ↗
How Do They Make Money?
Point-of-sale and prepaid revenue comes from product sales through the web portal, where payment is initiated at checkout. Wireless revenue includes monthly Lifeline reimbursements for active eligible subscribers, typically paid the following month.
10-K for FY2025, filed Apr 15, 2026Torch Wireless is licensed to provide subsidized mobile broadband services through the Lifeline program to qualifying low-income customers.…View ↗
Revenue is recognized in the month services are provided to Lifeline subscribers who remain active as of the last day of the month.View ↗
At month-end, the Company determines the number of eligible active subscribers based on internal usage data and subscriber eligibility…View ↗
Revenues are generated through the sale of telecommunication products, including mobile phones, wireless top-up refills, and other…View ↗
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10-K for FY2025, filed Apr 15, 2026
FY2025 revenue by product or service (Revenues, net) ↗
$57M
-
10-K for FY2025, filed Apr 15, 2026
$57M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Mobile Virtual Network Operators
Recurring
10-K for FY2025, filed Apr 15, 2026 |
24%
FY2022: 73%
|
Mobile Virtual Network Operators, FY2025
$13.5M Sources
|
Recurring |
|
Point-of-Sale and Prepaid Services
Sold outright
10-K for FY2025, filed Apr 15, 2026 |
76% |
Point-of-Sale and Prepaid Services, FY2025
$43.5M Sources
|
Sold outright |
Who Are Their Customers?
Retailers access its point-of-sale platform for prepaid top-ups and financial transactions; consumers activate wireless service in stores or online; third-party providers obtain wireless services through the wholesale platform.
10-K for FY2025, filed Apr 15, 2026SurgePays operates a network of more than 9,000 independently owned convenience stores and similar retail locations, which serve as a…View ↗
Through these channels, the Company enables in-store and online activation of wireless services, prepaid top-ups, and financial…View ↗
Non-subsidized services are offered through prepaid wireless brands, including LinkUp Mobile. These services provide contract-free plans…View ↗
The Company’s platform services segment includes point of sale transaction processing and related software solutions for retail partners.…View ↗
The Company’s wholesale enablement business leverages its direct carrier relationships and technology platform to provide wireless services…View ↗
Do Revenues Turn Into Profits?
No. It lost $36.1M in FY2025.
10-K for FY2025, filed Apr 15, 2026
−$34.1MView ↗
10-K for FY2025, filed Apr 15, 2026
−$36.1MView ↗
10-K for FY2025, filed Apr 15, 2026
−$21.3MView ↗
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Aug 19, 2026
$1.3MView ↗
- ▲ Now profitable
- vs −$7.1M in Q2 FY2025
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Sep 11, 2026
Dismissed its auditor and engaged a new accounting firm
TAAD LLP was dismissed, and Sadler, Gibb & Associates, LLC was engaged.
Sources
8-K, filed Sep 16, 2026
(i) On September 16, 2026, SurgePays, Inc. (the “Company”) notified TAAD LLP (the “Former Accounting Firm”) of its dismissal as the…View ↗
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Sep 7, 2026
Transferred ClearLine and GPOX Wireless assets to GPO Plus
The transfer closed; consideration was GPO Plus Series D preferred shares.
Sources
8-K, filed Sep 10, 2026
On September 7, 2026, SurgePays, Inc. (the “Company”) entered into an Asset Purchase Agreement (the “Purchase Agreement”) with GPO Plus…View ↗
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Aug 5, 2026
Formed Redline wireless distribution joint venture
It will market, distribute and support LinkUp Mobile prepaid wireless through the partner's independent dealer channel.
Sources
8-K, filed Aug 5, 2026
On August 5, 2026, SurgePays, Inc. (the “Company”) issued a press release announcing the formation of Redline Wireless Group, LLC…View ↗
Growing. Revenue grew 12% in 4 years, from $51.1M in FY2021 to $57M in FY2025, about 3% a year.
Wireless subsidy mix
The older report describes mobile broadband under the Affordable Connectivity Program; the latest describes the program's end and a shift toward Lifeline, alongside prepaid plans.
10-K for FY2022, filed Mar 30, 2023 10-K for FY2025, filed Apr 15, 2026SurgePhone and Torch, wholly owned subsidiaries of SurgePays, are mobile virtual network operators (MVNO) licensed by the Federal…View ↗
Lead-generation services
The older report describes lead-generation and case-management services for law firms; the latest says the company stopped providing those services and abandoned the segment.
10-K for FY2022, filed Mar 30, 2023LogicsIQ, Inc. is a lead generation and case management solutions company primarily serving law firms in the mass tort industry. The…View ↗
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