SURG · Surgepays, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $15.98M | - | $18.68M | $11.52M | $10.58M | - | $4.77M | $15.09M | $31.43M | - |
| Cost of Revenue | $23.68M | - | $21.28M | $14.17M | $13.52M | - | $12.60M | $18.53M | $23.25M | - |
| Gross Profit | ($7.70M) | - | ($2.60M) | ($2.65M) | ($2.94M) | - | ($7.83M) | ($3.44M) | $8.18M | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $3.50M | - | $4.35M | $4.16M | $4.64M | - | $6.45M | $7.43M | $6.43M | - |
| Total Operating Expenses | $3.50M | - | $4.35M | $7.43M | $4.64M | - | $19.05M | $25.96M | $6.43M | - |
| D&A | $26.8K | - | $282.1K | $70.4K | $70.4K | - | $282.1K | $70.4K | $233.8K | - |
| Operating Income | ($11.20M) | - | ($6.95M) | ($6.81M) | ($7.58M) | - | ($14.28M) | ($10.88M) | $1.75M | - |
| Interest Expense | $119.4K | - | $424.7K | $212.4K | - | - | - | - | - | - |
| Income Tax | - | - | - | - | - | - | - | $2.55M | $423.0K | - |
| Net Income | ($12.05M) | - | ($7.49M) | ($7.08M) | ($7.64M) | - | ($14.28M) | ($12.87M) | $1.22M | - |
| EPS - Basic | ($0.51) | - | ($0.38) | ($0.36) | ($0.38) | - | ($0.73) | ($0.66) | $0.07 | - |
| EPS - Diluted | ($0.51) | - | ($0.38) | ($0.36) | ($0.38) | - | ($0.73) | ($0.66) | $0.07 | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.99M | $1.73M | $2.51M | $4.40M | $5.40M | $11.79M | $13.65M | $38.43M | $42.95M | $14.62M |
| Accounts Receivable | $5.04M | $4.05M | $4.29M | $2.68M | $2.49M | $3.00M | $1.51M | $1.41M | $8.27M | $9.54M |
| Inventory | $339.6K | $339.6K | $1.92M | $2.41M | $1.78M | $1.78M | $8.36M | $8.36M | $7.34M | $9.05M |
| Accounts Payable | - | - | - | - | - | - | - | - | - | - |
| Current Assets | $8.21M | $6.98M | $9.23M | $9.69M | $9.85M | $17.87M | $33.91M | $48.72M | $59.06M | $33.37M |
| Total Assets | $9.50M | $8.52M | $14.49M | $15.22M | $15.66M | $23.98M | $41.50M | $56.41M | $69.59M | $41.93M |
| Current Liabilities | $30.04M | $18.19M | $17.67M | $8.70M | $5.74M | $6.06M | $5.43M | $6.60M | $9.43M | $12.71M |
| Long-term Debt | - | $13.26M | $12.00M | $9.60M | $3.61M | $4.03M | $4.42M | $4.81M | $5.19M | $5.05M |
| Total Liabilities | $33.37M | $23.92M | $20.92M | $15.15M | $7.88M | $8.71M | $8.22M | $10.12M | $13.40M | $13.52M |
| Stockholders' Equity | ($23.81M) | ($15.35M) | ($6.37M) | $116.1K | $7.84M | $15.32M | $33.16M | $46.16M | $56.04M | $28.25M |
| Retained Earnings | ($109.04M) | ($96.98M) | ($83.12M) | ($75.63M) | ($68.55M) | ($60.92M) | ($41.10M) | ($26.83M) | ($13.96M) | ($15.19M) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | ($4.55M) | - | - | - | ($6.96M) | - | - | - | $4.04M | - |
| Investing Cash Flow | - | - | - | - | ($18.6K) | - | - | - | - | - |
| Financing Cash Flow | $4.95M | - | - | - | ($410.5K) | - | - | - | $24.28M | - |
| CapEx | - | - | - | - | - | - | - | - | - | - |
| Free Cash Flow | - | - | - | - | - | - | - | - | - | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | -48.2% | - | -13.9% | -23.0% | -27.8% | - | -164.2% | -22.8% | 26.0% | - |
| Operating margin | -70.1% | - | -37.2% | -59.1% | -71.7% | - | -299.4% | -72.1% | 5.6% | - |
| EBITDA margin | -69.9% | - | -35.7% | -58.5% | -71.0% | - | -293.5% | -71.6% | 6.3% | - |
| Net margin | -75.4% | - | -40.1% | -61.5% | -72.2% | - | -299.3% | -85.3% | 3.9% | - |
| Free cash flow margin | - | - | - | - | - | - | - | - | - | - |
| FCF / Net income | - | - | - | - | - | - | - | - | - | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 21.9% | - | 23.3% | 36.1% | 43.8% | - | 135.2% | 49.3% | 20.5% | - |
| Effective tax rate | - | - | - | - | - | - | - | - | 25.7% | - |
| Return on assets | -126.8% | - | -51.7% | -46.5% | -48.7% | - | -34.4% | -22.8% | 1.8% | - |
| Return on equity | 50.6% | - | 117.6% | -6099.6% | -97.4% | - | -43.1% | -27.9% | 2.2% | - |
| Return on invested capital | - | - | - | - | - | - | - | -16.9% | 2.1% | - |
| Liquidity | ||||||||||
| Current ratio | 0.27 | 0.38 | 0.52 | 1.11 | 1.72 | 2.95 | 6.24 | 7.38 | 6.26 | 2.63 |
| Quick ratio | 0.26 | 0.37 | 0.41 | 0.84 | 1.41 | 2.66 | 4.70 | 6.11 | 5.48 | 1.91 |
| Cash ratio | 0.07 | 0.10 | 0.14 | 0.51 | 0.94 | 1.95 | 2.51 | 5.82 | 4.55 | 1.15 |
| Leverage | ||||||||||
| Debt / Equity | - | -0.86 | -1.88 | 82.67 | 0.46 | 0.26 | 0.13 | 0.10 | 0.09 | 0.18 |
| Debt / Assets | - | 1.56 | 0.83 | 0.63 | 0.23 | 0.17 | 0.11 | 0.09 | 0.07 | 0.12 |
| Debt / EBITDA | - | - | - | - | - | - | - | - | 2.62 | - |
| Interest coverage | -93.8x | - | -16.4x | -32.1x | - | - | - | - | - | - |
| Equity multiplier | -0.40 | -0.55 | -2.28 | 131.04 | 2.00 | 1.57 | 1.25 | 1.22 | 1.24 | 1.48 |
| Liabilities / Assets | 3.51 | 2.81 | 1.44 | 1.00 | 0.50 | 0.36 | 0.20 | 0.18 | 0.19 | 0.32 |
| Efficiency | ||||||||||
| Asset turnover | 1.68 | - | 1.29 | 0.76 | 0.68 | - | 0.11 | 0.27 | 0.45 | - |
| Inventory turnover | 69.74 | - | 11.10 | 5.88 | 7.59 | - | 1.51 | 2.22 | 3.17 | - |
| Days sales outstanding | 115d | - | 84d | 85d | 86d | - | 116d | 34d | 96d | - |
| Days inventory outstanding | 5d | - | 33d | 62d | 48d | - | 242d | 165d | 115d | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | 55.0x | - |
| P / B | - | - | - | 532.7x | 5.3x | - | 1.1x | 1.3x | 1.3x | - |
| P / S | 1.1x | - | 3.0x | 5.4x | 3.9x | - | 7.6x | 4.1x | 2.3x | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | 17.2x | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 51.1% | - | 291.6% | -23.6% | -66.3% | - | -86.0% | -58.0% | -9.6% | - |
| Revenue CAGR (3y) | -22.8% | - | -19.8% | -25.6% | -20.6% | - | -31.0% | 9.9% | 41.9% | - |
| Revenue CAGR (5y) | 7.8% | - | 7.8% | -4.5% | -7.7% | - | 3.3% | 30.1% | 51.5% | - |
| Gross profit growth (YoY) | -161.6% | - | 66.8% | 22.9% | - | - | - | - | 6.3% | - |
| Operating income growth (YoY) | -47.8% | - | 51.3% | 37.4% | - | - | - | - | -62.8% | - |
| Net income growth (YoY) | -57.8% | - | 47.5% | 45.0% | - | - | - | - | -73.1% | - |
| EPS growth (YoY) | -34.2% | - | 47.9% | 45.5% | - | - | -508.3% | - | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | - | - | - | -99.7% | -86.0% | -45.8% | 39.9% | 182.4% | 468.7% | 466.0% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$56.96M totalPoint Of Sale And Prepaid Services$43.51M · 76.4%
Mobile Virtual Network Operator$13.45M · 23.6%
Product / service
$56.96M totalPoint Of Sale And Prepaid Services$43.51M · 76.4%
Mobile Virtual Network Operators$13.45M · 23.6%
Peer comparison
Same SIC group: Telephone Communications (No Radiotelephone)
Comparing SurgePays against the 5 most active filers in the same SIC group.