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SurgePays, Inc.

SURG Clue Score24
United States Fiscal year ends December CIK 0001392694
$0.14 -2.41% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $0.14 +16.04% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 16 Jan 2018. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue3.3Operating income−3.1Net income−4.6Fiscal year 2017Revenue13.5 +308.3%Operating income0.2Net income2.8Fiscal year 2018Revenue15.2 +13.3%Operating income−1.5Net income−1.5 −155.7%Fiscal year 2019Revenue25.7 +68.9%Operating income−7.8Net income−8.4Fiscal year 2020Revenue54.4 +111.3%Operating income−10.1Net income−10.7Fiscal year 2021Revenue51.1 −6.2%Operating income−6.0Net income−13.5Fiscal year 2022Revenue121.5 +138.0%Operating income0.6Net income−0.7EPS, diluted−0.05Fiscal year 2023Revenue137.1 +12.8%Operating income18.9Net income20.6EPS, diluted1.38Fiscal year 2024Revenue60.9 −55.6%Operating income−43.5Net income−45.7 −321.8%EPS, diluted−2.39 −273.2%Fiscal year 2025Revenue57.0 −6.4%Operating income−34.1Net income−36.1EPS, diluted−1.80
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 3.3 13.5 15.2 25.7 54.4 51.1 121.5 137.1 60.9 57.0
Growth +308.3% +13.3% +68.9% +111.3% −6.2% +138.0% +12.8% −55.6% −6.4%
Operating income −3.1 0.2 −1.5 −7.8 −10.1 −6.0 0.6 18.9 −43.5 −34.1
Net income −4.6 2.8 −1.5 −8.4 −10.7 −13.5 −0.7 20.6 −45.7 −36.1
Growth −155.7% −321.8%
EPS, diluted n/a n/a n/a n/a n/a n/a −0.05 1.38 −2.39 −1.80
Growth −273.2%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Gross margin29.4%Operating margin−94.2%Net margin−139.5%Free cash flow margin−19.6%Fiscal year 2017Gross margin39.9%Operating margin1.5%Net margin20.6%Free cash flow margin0.6%Fiscal year 2018Gross margin43.8%Operating margin−10.1%Net margin−10.1%Free cash flow margin−8.8%Fiscal year 2019Gross margin12.1%Operating margin−30.2%Net margin−32.8%Free cash flow margin−26.3%Fiscal year 2020Gross margin4.5%Operating margin−18.6%Net margin−19.7%Free cash flow margin−8.0%Fiscal year 2021Operating margin−11.7%Net margin−26.5%Free cash flow margin−30.0%Fiscal year 2022Operating margin0.5%Net margin−0.6%Free cash flow margin0.6%Fiscal year 2023Operating margin13.8%Net margin15.0%Fiscal year 2024Operating margin−71.4%Net margin−75.1%Free cash flow margin−35.9%Fiscal year 2025Operating margin−59.9%Net margin−63.3%Free cash flow margin−37.4%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 29.4% 39.9% 43.8% 12.1% 4.5% n/a n/a n/a n/a n/a
Operating margin −94.2% 1.5% −10.1% −30.2% −18.6% −11.7% 0.5% 13.8% −71.4% −59.9%
Net margin −139.5% 20.6% −10.1% −32.8% −19.7% −26.5% −0.6% 15.0% −75.1% −63.3%
Free cash flow margin −19.6% 0.6% −8.8% −26.3% −8.0% −30.0% 0.6% n/a −35.9% −37.4%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow−0.6Capital expenditure−0.0Free cash flow−0.6Fiscal year 2017Operating cash flow0.2Capital expenditure−0.1Free cash flow0.1Fiscal year 2018Operating cash flow−1.0Capital expenditure−0.3Free cash flow−1.3 −1,767.6%Fiscal year 2019Operating cash flow−6.5Capital expenditure−0.2Free cash flow−6.8Fiscal year 2020Operating cash flow−4.3Capital expenditure−0.0Free cash flow−4.3Buybacks−0.5Fiscal year 2021Operating cash flow−15.3Capital expenditure−0.1Free cash flow−15.3Fiscal year 2022Operating cash flow0.8Capital expenditure−0.0Free cash flow0.8Fiscal year 2023Operating cash flow10.3Fiscal year 2024Operating cash flow−21.3Capital expenditure−0.5Free cash flow−21.8Fiscal year 2025Operating cash flow−21.3Capital expenditure−0.0Free cash flow−21.3
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow −0.6 0.2 −1.0 −6.5 −4.3 −15.3 0.8 10.3 −21.3 −21.3
Capital expenditure −0.0 −0.1 −0.3 −0.2 −0.0 −0.1 −0.0 n/a −0.5 −0.0
Free cash flow −0.6 0.1 −1.3 −6.8 −4.3 −15.3 0.8 n/a −21.8 −21.3
Growth −1,767.6%
Buybacks n/a n/a n/a n/a −0.5 n/a n/a n/a n/a n/a

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash0.4Total debt1.8Net cash (debt)−1.4Shareholders’ equity−3.4Fiscal year 2017Cash1.3Total debt0.5Net cash (debt)0.8Shareholders’ equity−0.6Fiscal year 2018Cash0.4Total debt1.3Net cash (debt)−0.8Shareholders’ equity−2.0Fiscal year 2019Cash0.3Total debt2.9Net cash (debt)−2.6Shareholders’ equity−4.7Fiscal year 2020Cash0.7Total debt1.1Net cash (debt)−0.4Shareholders’ equity−10.7Fiscal year 2021Cash6.3Shareholders’ equity3.6Fiscal year 2022Cash7.0Total debt7.7Net cash (debt)−0.6Shareholders’ equity5.0Debt to equity1.54Fiscal year 2023Cash14.6Total debt5.0Net cash (debt)9.6Shareholders’ equity28.2Debt to equity0.18Fiscal year 2024Cash11.8Total debt4.0Net cash (debt)7.8Shareholders’ equity15.3Debt to equity0.26Fiscal year 2025Cash1.7Total debt13.3Net cash (debt)−11.5Shareholders’ equity−15.3
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 0.4 1.3 0.4 0.3 0.7 6.3 7.0 14.6 11.8 1.7
Total debt 1.8 0.5 1.3 2.9 1.1 n/a 7.7 5.0 4.0 13.3
Net cash (debt) −1.4 0.8 −0.8 −2.6 −0.4 n/a −0.6 9.6 7.8 −11.5
Shareholders’ equity −3.4 −0.6 −2.0 −4.7 −10.7 3.6 5.0 28.2 15.3 −15.3
Debt to equity n/a n/a n/a n/a n/a n/a 1.54 0.18 0.26 n/a

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
3.3 13.5 15.2 25.7 54.4 51.1 121.5 137.1 60.9 57.0
Growth +308.3% +13.3% +68.9% +111.3% −6.2% +138.0% +12.8% −55.6% −6.4%
2.3 8.1 8.6 22.6 51.9 44.9 108.1 101.5 75.2 67.6
1.0 5.4 6.7 3.1 2.5 n/a n/a n/a n/a n/a
Growth +454.0% +24.4% −53.3% −20.9%
3.3 5.2 8.1 10.7 12.6 12.2 12.8 16.8 27.5 20.1
−3.1 0.2 −1.5 −7.8 −10.1 −6.0 0.6 18.9 −43.5 −34.1
Growth −851.6% +2,876.6% −330.4%
−4.6 2.8 −1.5 −8.4 −10.7 n/a −0.6 18.4 −43.1 −36.1
n/a n/a 0.1 n/a n/a n/a n/a −2.3 2.9 n/a
−4.6 2.8 −1.5 −8.4 −10.7 −13.5 −0.7 20.6 −45.7 −36.1
Growth −155.7% −321.8%
Per share
n/a n/a n/a n/a n/a −3.09 −0.05 1.45 −2.39 −1.80
n/a n/a n/a n/a n/a n/a −0.05 1.38 −2.39 −1.80
Growth −273.2%
n/a n/a n/a n/a n/a 4.4 12.4 14.3 19.1 20.1
n/a n/a n/a n/a n/a n/a 12.4 14.9 19.1 20.1
Growth +20.4% +28.1% +5.1%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 0.9% a year over five years.
  • Operating margin is down 41.3 points on five years ago, at -59.9%.
  • A net loss in 8 of 10 years on file.