1. SurgePays integrates with AT&T, set for major growth phase. 2. Projected revenue exceeds $200 million in next 12 months. 3. Positive cash flow anticipated by end of 2025. 4. 2024 saw revenue impacts due to AAC's end. 5. Focus now is on execution and scaling business.
The integration with AT&T and forecasted revenue growth can attract investor interest, reminiscent of past LTE network integrations driving stock prices. Historical examples, such as other telecommunication company integrations, have led to significant stock improvements.
The announcement is critical for SurgePays' trajectory; strong revenue projections and operational scaling signal potential value creation, directly impacting investor sentiment and market performance.
As the company scales its operations and monetizes established platforms, long-term growth and profitability are likely. This mirrors patterns seen in tech companies post-integration, where sustained growth follows initial investor excitement.
BARTLETT, Tenn., March 25, 2025 /PRNewswire/ -- SurgePays, Inc. (Nasdaq: SURG) ("SurgePays" or the "Company"), a wireless and point of sale technology company, today announced its financial results for the year ended December 31, 2024, and is issuing guidance of over $200 million in revenue over the next 12 months and positive cash flow from operations before the end of 2025, following the successful integration and official launch with AT&T.
Brian Cox, Chairman and CEO, commented, "We built the infrastructure. Now we are scaling. With AT&T integration complete and LinkUp Mobile launching nationally, SurgePays is positioned for the most aggressive revenue growth phase in our history."
2024 marked the end of the federally funded ACP era. As expected, revenue and gross profit were impacted. However, strategic investments made during this transition — including AT&T integration, POS growth, and the development of our MVNE platform — have built the foundation for 2025's goal to return to growth and profitability.
SurgePays expects first quarter 2025 revenue to remain consistent with Q4 2024. With the national launch of LinkUp Mobile and expanding MVNE partnerships, revenue is projected to exceed $200 million over the next 12 months and the Company anticipates achieving positive cash flow from operations before the end of 2025.
This guidance is based solely on the monetization of core MVNO and POS platforms already deployed. As these platforms scale — both through direct customer acquisition and wholesale MVNE relationships — we anticipate expanding both revenue and margins.
"We've earned the right to scale," added Mr. Cox. "The heavy lifting is behind us. Now we are focused on execution, revenue acceleration, and delivering long-term value to shareholders."
SurgePays management will host a webcast today at 5 p.m. ET / 2 p.m. PT to discuss these results. The live webcast of the call can be accessed on the Company's investor relations website at ir.surgepays.com, or by registering at the following link: Fourth Quarter Results Call.
Telephone access:
- U.S.: 888-506-0062
- International: 973-528-0011
- Participant Access Code: 937037
A telephone replay will be available approximately one hour following completion of the call until April 8, 2025.
Replay: 877-481-4010 (U.S.) or 919-882-2331 (Intl.)
Replay Passcode: 52151
SurgePays, Inc. is a wireless and point-of-sale (POS) technology company. SurgePays operates a unique ecosystem that blends prepaid wireless, government-subsidized mobile plans, and a point-of-sale software platform used in thousands of community retail stores. SurgePays is a platform — built for stores in underserved communities, built to scale, and built for growth. Please visit www.SurgePays.com for more information.
This press release includes express or implied statements that are not historical facts and are considered forward-looking within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act. Forward-looking statements involve substantial risks and uncertainties and generally relate to future events or our future financial or operating performance. These statements may include projections, guidance, or other estimates regarding revenue, cash flow, business growth, market expansion, or customer acquisition. In some cases, you can identify forward-looking statements by the following words: "may," "will," "could," "would," "should," "expect," "intend," "plan," "anticipate," "believe," "estimate," "predict," "project," "potential," "continue," "ongoing," "attempting," or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words.
Although we believe the expectations reflected in these forward-looking statements, such as regarding our revenue and profitability potential along with the statements under the heading 2025 Financial Guidance are reasonable, these statements relate to future events or our future operational or financial performance and involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. Furthermore, actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors that are beyond our control, including, without limitation, the assumption that revenue is projected to exceed $200 million over the next 12 months and the Company anticipates achieving positive cash flow from operations before the end of 2025, statements about our future financial performance, including our revenue, cash flows, costs of revenue and operating expenses; our anticipated growth; and our predictions about our industry. These include, but are not limited to, our ability to scale our prepaid wireless business, transition ACP subscribers to Lifeline, maintain our MVNE partnerships, and achieve financial targets. The forward-looking statements contained in this release are also subject to other risks and uncertainties, including those more fully described in our filings with the Securities and Exchange Commission ("SEC"), including in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023 and the to-be-filed Annual Report on Form 10-K for the fiscal year ended December 31, 2024. The forward-looking statements in this press release speak only as of the date on which the statements are made. We undertake no obligation to update, and expressly disclaim the obligation to update, any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law.
| December 31, 2024 | December 31, 2023 |
|---|---|
| Assets |
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SOURCE SurgePays