Technology · Software - Application
Price
$0.57
Market Cap
$12.0M
Employees
130
Beta
0.20
Avg Volume
1,326,949
CEO
Kevin Brian Cox
Business Description
SurgePays, Inc. operates as a financial technology and telecommunications enterprise dedicated to serving the underbanked communities across the United States. A core component of its strategy is a blockchain-powered platform that transforms local corner stores and bodegas into vital technology hubs, providing a suite of financial and prepaid products. In its telecommunications division, the company delivers voice and SMS messaging services to subsidized, direct retail prepaid, and low-income subscribers. Furthermore, it offers subsidized mobile broadband connectivity to consumers in California, Colorado, Florida, Illinois, Maryland, Mississippi, Missouri, Nevada, New Jersey, Ohio, Oklahoma, Rhode Island, Tennessee, and Texas, alongside traditional prepaid wireless options. Beyond these primary offerings, SurgePays also extends specialized services to law firms in the mass tort industry, including marketing business intelligence, plaintiff generation, and caseload management solutions. To support its diverse operations, the company maintains a bilingual operations center that provides essential internal functions such as sales assistance, customer service, IT infrastructure design, graphic media, database programming, software development, revenue assurance, and lead generation. The company's headquarters are located in Bartlett, Tennessee.
Business History
Price Overview
Price at report time · Jul 3, 6:40am (0m ago)
$0.57
Change · Jul 3
+0.16 (+38.08%)
Day Range
$0.51 – $0.68
52-Week Range
$0.34 – $3.45
50-Day MA
$0.51
200-Day MA
$1.39
Volume
174,729,815.00
Right now · live
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Real-time — the change above is the move since the report (over 0m).
Analyst Price Targets
Low
$10.00
Consensus
$10.00
High
$10.00
(1 analysts)
Share Structure
Outstanding
20,992,753.00
Float
16,023,275.00
Free Float
76.3%
Normal free float
— 76.3% of shares trade freely, ~23.7% held by insiders/institutions
Healthy float typical of established companies. Good liquidity for entering and exiting positions without major price impact.
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
CALCStock Price / EPS (Diluted)
-0.32
Stock Price: $0.57
EPS (Diluted): -1.80
EPS (Diluted): -1.80
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
-2.18
Stock Price: $0.57
Total Equity: -$15.40M
Shares: 20,085,138
Total Equity: -$15.40M
Shares: 20,085,138
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
-0.68
Market Cap: $12.03M
Total Debt: $13.26M
Cash: $1.73M
EBITDA: -$32.95M
Total Debt: $13.26M
Cash: $1.73M
EBITDA: -$32.95M
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
$45.4M
Market Cap: $12.03M
Total Debt: $13.26M
Cash: $1.73M
Total Debt: $13.26M
Cash: $1.73M
P/S Ratio (Price per dollar of revenue)
APIStock Price / Revenue Per Share
0.59
Stock Price: $0.57
Revenue: $56.96M
Shares: 20,085,138
Revenue: $56.96M
Shares: 20,085,138
EV/Sales (Total value vs revenue — works when P/E can't)
API0.80
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
-18.6%
Gross Profit: -$10.59M
Revenue: $56.96M
Revenue: $56.96M
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
-59.9%
Operating Income: -$34.14M
Revenue: $56.96M
Revenue: $56.96M
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
-63.3%
Net Income: -$36.07M
Revenue: $56.96M
Revenue: $56.96M
ROE (Profit from shareholder equity)
APINet Income / Total Equity
356.2%
Net Income: -$36.07M
Total Equity: -$15.40M
Total Equity: -$15.40M
ROIC (Profit from all invested capital)
APINOPAT / Invested Capital
451.8%
Operating Income: -$34.14M
Tax Rate: 0.0%
Equity: -$15.40M
Total Debt: $13.26M
Cash: $1.73M
Tax Rate: 0.0%
Equity: -$15.40M
Total Debt: $13.26M
Cash: $1.73M
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
0.38
Current Assets: $6.98M
Current Liabilities: $18.19M
Current Liabilities: $18.19M
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
-0.86
Short-Term Debt: $7.63M
Long-Term Debt: $5.63M
Total Debt: $13.26M
Total Equity: -$15.40M
Long-Term Debt: $5.63M
Total Debt: $13.26M
Total Equity: -$15.40M
Rev/Share (Top-line per share)
CALCRevenue / Shares Outstanding
$2.84
Revenue: $56.96M
Shares: 20,085,138
Shares: 20,085,138
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$-0.77
Total Equity: -$15.40M
Shares: 20,085,138
Shares: 20,085,138
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$-1.06
Operating CF: -$21.29M
CapEx: -$18,590
Shares: 20,085,138
CapEx: -$18,590
Shares: 20,085,138
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
0.0%
Last Dividend: N/A
Stock Price: $0.57
Stock Price: $0.57
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: -$36.07M
Net Income: -$36.07M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares SURG against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jul 3, 2026 6:40am (just now)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $51.1M | $121.5M | $137.1M | $60.9M | $57.0M |
| Cost of Revenue | $44.9M | $108.1M | $101.5M | $75.2M | $67.6M |
| Gross Profit | $6.2M | $13.5M | $35.6M | -$14.3M | -$10.6M |
| Operating Expenses | $12.2M | $12.8M | $16.8M | $27.5M | $23.5M |
| Operating Income | -$6.0M | $633,785 | $18.9M | -$41.8M | -$34.1M |
| Net Income | -$13.5M | $-680,763 | $20.6M | -$45.7M | -$36.1M |
| EBITDA | -$5.1M | $2.4M | $20.1M | -$41.2M | -$33.0M |
| EPS | $-3.09 | $-0.05 | $1.45 | $-2.39 | $-1.80 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jul 3, 2026 6:40am (just now)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $6.3M | $7.0M | $14.6M | $11.8M | $1.7M |
| Total Current Assets | $13.9M | $27.6M | $33.4M | $17.9M | $7.0M |
| Total Assets | $19.5M | $34.0M | $41.9M | $24.0M | $8.5M |
| Current Liabilities | $10.0M | $23.5M | $12.7M | $6.1M | $18.2M |
| Long-Term Debt | $5.5M | $5.0M | $460,523 | $2.3M | $5.6M |
| Total Liabilities | $15.9M | $28.9M | $13.5M | $8.7M | $23.9M |
| Total Equity | $3.6M | $5.0M | $28.2M | $15.3M | -$15.4M |
| Retained Earnings | -$35.1M | -$35.8M | -$15.2M | -$60.9M | -$97.0M |
Cash Flow (Annual)
Last updated: Jul 3, 2026 6:40am (just now)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | -$15.3M | $793,272 | $10.3M | -$21.3M | -$21.3M |
| Capital Expenditure | $-51,408 | $-698,582 | $-281,304 | $-518,189 | $-18,590 |
| Free Cash Flow | -$15.3M | $94,690 | $10.0M | -$21.8M | -$21.3M |
| Acquisitions (net) | $-325,316 | $-800,000 | $0 | -$2.5M | $0 |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | $0 | $0 | $0 | $-631,967 | $0 |
| Net Change in Cash | $5.6M | $752,158 | $7.6M | -$1.8M | -$10.8M |
Analyst Estimates (Annual)
Last updated: Jul 3, 2026 6:40am (just now)| Metric | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|
| Revenue |
$59.5M $58.3M – $60.7M
|
$64.0M $64.0M – $64.0M
|
$65.0M $65.0M – $65.0M
|
$80.1M $80.1M – $80.1M
|
| EBITDA |
-$14.2M -$14.4M – -$13.9M
|
-$15.2M -$15.2M – -$15.2M
|
-$15.5M -$15.5M – -$15.5M
|
-$19.1M -$19.1M – -$19.1M
|
| Net Income |
-$31.9M -$32.6M – -$31.3M
|
-$26.9M -$26.9M – -$26.9M
|
-$14.1M -$14.1M – -$14.1M
|
$1.0M $1.0M – $1.0M
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: Jul 3, 2026 6:40am (just now)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | +138.0% | +12.8% | -55.6% | -6.4% |
| Gross Profit Growth | +118.3% | +164.6% | -140.2% | +26.1% |
| Operating Income Growth | +110.6% | +2,876.6% | -321.5% | +18.3% |
| Net Income Growth | +95.0% | +3,128.6% | -321.8% | +21.1% |
| EBITDA Growth | +147.0% | +738.8% | -305.3% | +20.1% |
Insider Trading (Recent)
Type codes
PPurchase
SSale
AAward / grant
MOption exercise
FIn-kind (tax)
CConversion
GGift
DReturn to issuer
All SEC Form 4 codes
Open market
- P Purchase
- Open-market or private purchase of shares.
- S Sale
- Open-market or private sale of shares.
Compensation (Rule 16b-3)
- A Award / grant
- Grant or award of securities (RSUs, options, etc.) under Rule 16b-3.
- D Return to issuer
- Securities disposed back to the company under Rule 16b-3.
- F In-kind (tax)
- Shares withheld or delivered to pay the option-exercise price or tax — not an open-market sale.
- I Discretionary
- Discretionary transaction under an employee plan — Rule 16b-3(f).
- M Option exercise
- Exercise or conversion of a derivative (option/RSU) into shares — exempt.
Derivatives
- C Conversion
- Conversion of a derivative security into the underlying shares.
- E Short expiration
- Expiration of a short derivative position.
- H Long expiration
- Expiration or cancellation of a long derivative position with value received.
- O OTM exercise
- Exercise of an out-of-the-money derivative.
- X ITM exercise
- Exercise of an in-the-money or at-the-money derivative.
Other exempt
- G Gift
- Bona fide gift of securities.
- L Small acquisition
- Small acquisition under Rule 16a-6.
- W Inheritance
- Acquisition or disposition by will or the laws of descent.
- Z Voting trust
- Deposit into or withdrawal from a voting trust.
Other
- J Other
- Other acquisition or disposition (explained in a Form 4 footnote).
- K Equity swap
- Transaction in an equity swap or similar instrument.
- U Tender / buyout
- Disposition via tender of shares in a change-of-control transaction.
Compensation-plan codes (A, D, F, M) are routine and rarely directional. Open-market P (buy) and S (sale) carry the most signal.
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-06-05 | May David Allen | P-Purchase | 34,716.00 | $0.53 | $18,243 |
| 2026-06-04 | May David Allen | P-Purchase | 121.00 | $0.53 | $64 |
| 2026-06-03 | May David Allen | P-Purchase | 5,413.00 | $0.53 | $2,845 |
| 2026-04-01 | Cox Kevin Brian | A-Award | 500,000.00 | $0.00 | $0 |
| 2026-03-23 | Cox Kevin Brian | A-Award | 800,000.00 | $1.25 | $1.0M |
| 2026-03-24 | Cox Kevin Brian | G-Gift | 270,745.00 | $0.00 | $0 |
| 2026-03-24 | Cox Kevin Brian | G-Gift | 270,745.00 | $0.00 | $0 |
| 2025-12-31 | Evers Anthony George | A-Award | 200,000.00 | $0.00 | $0 |
| 2025-12-10 | May David Allen | P-Purchase | 10,000.00 | $1.62 | $16,200 |
| 2025-12-10 | May David Allen | P-Purchase | 28,422.00 | $1.60 | $45,447 |
| 2025-06-06 | May David Allen | S-Sale | 63,000.00 | $2.81 | $177,282 |
| 2025-05-22 | KEYS DAVID N | A-Award | 50,000.00 | $0.00 | $0 |
| 2025-05-22 | Weisberg Laurie | A-Award | 50,000.00 | $0.00 | $0 |
| 2025-05-22 | Schurfeld Richard Earl | A-Award | 50,000.00 | $0.00 | $0 |
| 2025-05-16 | Cox Kevin Brian | P-Purchase | 15,073.00 | $2.75 | $41,451 |
| 2024-12-03 | Cox Kevin Brian | S-Sale | 35,180.00 | $1.82 | $64,084 |
| 2024-12-02 | Evers Anthony George | S-Sale | 36,666.00 | $1.86 | $68,199 |
| 2024-11-25 | Weisberg Laurie | P-Purchase | 3,099.00 | $1.84 | $5,702 |
| 2024-11-25 | Weisberg Laurie | P-Purchase | 1,500.00 | $1.84 | $2,760 |
| 2024-11-25 | Weisberg Laurie | P-Purchase | 100.00 | $1.84 | $184 |
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for SURG — it's generated by the pipeline (
market-narrative step).
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.373 · 697c9e64 · 2026-07-02 20:17:59