Revenue: As of FY2025, the actual value is USD 56.96 M.EPS: As of FY2025, the actual value is USD -1.8.EBIT: As of FY2025, the actual value is USD -28.72 M.<h4>Revenue</h4>Total revenue for SurgePays, Inc. was approximately $57.0 million in 2025, compared to $60.9 million in 2024, reflecting the expected impact from the conclusion of the Affordable Connectivity Program in mid-2024 and the company’s transition to a more diversified revenue model.MVNO revenue generated $13.5 million, representing approximately 24% of total revenue for 2025.The Point-of-Sale and Prepaid Services segment generated approximately $43.5 million, or approximately 76% of total revenue in 2025.Sequential revenue growth through the first three quarters of 2025 increased from approximately $10.6 million in Q1 to $11.5 million in Q2, and reached $18.7 million in Q3.Fourth-quarter 2025 revenue was $16.2 million.The Point-of-Sale and Prepaid Services segment revenue increased by approximately $26.1 million year-over-year.<h4>Operational Metrics</h4>Gross loss improved to approximately - $10.6 million in 2025, compared to - $14.3 million in 2024.Total general and administrative expenses declined to approximately $20.1 million in 2025, compared to $27.5 million in 2024, representing an approximate 28% year-over-year reduction.Operating loss improved to approximately - $30.7 million in 2025, compared to - $41.8 million in 2024.Cost of revenues was $67,551,811 in 2025, down from $75,205,372 in 2024.Total costs and expenses were $87,622,932 in 2025, down from $102,663,524 in 2024.Net loss before provision for income taxes was - $36,069,708 in 2025, an improvement from - $43,067,774 in 2024.Provision for income tax benefit (expense) was - $0 in 2025, compared to - $2,870,000 in 2024.Net loss including non-controlling interest was - $36,069,708 in 2025, compared to - $45,937,774 in 2024.Net loss available to common stockholders was - $36,068,870 in 2025, compared to - $45,729,224 in 2024.Interest expense (including amortization of debt discount) was - $2,003,935 in 2025, compared to - $554,200 in 2024.Total other income (expense) - net was - $5,409,696 in 2025, compared to - $1,285,423 in 2024.LinkUp Mobile surpassed 100,000 subscriber lines in subsequent operational highlights.Selling, general and administrative expense (excluding depreciation and amortization) declined to approximately $19.2 million in 2025 from $26.3 million in 2024.In Q4 2025, SG&amp;A included approximately $2.3 million of nonrecurring expenses.SurgePays, Inc. has an established retail footprint of more than 9,000 locations.<h4>Cash Flow</h4>Net cash used in operating activities was - $21,293,152 in 2025, compared to - $21,310,603 in 2024.Net cash used in operating activities for 2025 was approximately - $21.3 million.Net cash used in investing activities was - $18,590 in 2025, compared to - $3,004,576 in 2024.Net cash provided by financing activities was $10,534,564 in 2025, compared to $22,483,508 in 2024.Net cash provided by financing activities was approximately $10.5 million, primarily from the use of the at-the-market facility and additional capital raises.Net decrease in cash, cash equivalents and restricted cash was - $10,777,178 in 2025, compared to - $1,831,671 in 2024.Cash, cash equivalents and restricted cash at the end of 2025 was $2,013,211, compared to $12,790,389 at the end of 2024.Cash paid for interest was $245,855 in 2025, compared to $470,208 in 2024.SurgePays, Inc. ended 2025 with approximately $1.7 million in cash.<h4>Balance Sheet Items</h4>Cash and cash equivalents were $1,731,400 at December 31, 2025, compared to $11,790,389 at December 31, 2024.Total Current Assets were $6,979,766 at December 31, 2025, compared to $17,870,323 at December 31, 2024.Total Assets were $8,515,846 at December 31, 2025, compared to $23,976,005 at December 31, 2024.Total Current Liabilities were $18,190,236 at December 31, 2025, compared to $6,059,476 at December 31, 2024.Total Long Term Liabilities were $5,728,429 at December 31, 2025, compared to $2,654,916 at December 31, 2024.Total Liabilities were $23,918,665 at December 31, 2025, compared to $8,714,392 at December 31, 2024.Stockholders’ Equity (Deficit) was - $15,347,675 at December 31, 2025, compared to $15,315,919 at December 31, 2024.Accumulated deficit was - $96,984,297 at December 31, 2025, compared to - $60,915,427 at December 31, 2024.At December 31, 2025, the company had a working capital deficit of approximately - $16.2 million, compared to a surplus of $11.8 million at the end of 2024.<h4>Outlook / Guidance</h4>SurgePays, Inc. estimates its current monthly cash burn at the end of the first quarter of 2026 to be approximately $250,000 to $300,000.SurgePays, Inc. anticipates continued improvement in gross margins as higher-margin revenue streams scale and benefit from the existing cost structure.For 2026, the company aims to combine its capital deployment capability with a more efficient cost structure and multiple revenue streams to drive growth, with LinkUp Mobile expected to be a significant revenue driver.

SurgePays | 8-K: FY2025 Revenue: USD 56.96 M