For the twelve months ended Jun 30, 2026, SurgePays Inc. reported $67.06M of revenue and -$32.11M of net income.
SURG revenue was $16.20M in fiscal Q2 2026 (ended Jun 30, 2026), up 40.7% from a year earlier and up 1.4% from the prior quarter. For the full fiscal 2025 it was $56.96M, down 6.4% from fiscal 2024. Compound annual growth was +0.9% over 5 years and +35.0% over 10 years. It rose in 7 of the last 10 fiscal years.
SURG net income was $1.29M in fiscal Q2 2026 (ended Jun 30, 2026), compared with -$7.08M a year earlier. For the full fiscal 2025 it was -$36.07M, compared with -$45.73M in fiscal 2024.
SURG diluted EPS was $0.05 in fiscal Q2 2026 (ended Jun 30, 2026), compared with -$0.36 a year earlier. For the full fiscal 2025 it was -$1.80, compared with -$2.39 in fiscal 2024.
SURG free cash flow was -$21.31M for fiscal 2025 (ended Dec 31, 2025), compared with -$21.83M in fiscal 2024.
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $56.96M | $60.88M | $137.14M | $121.54M | $51.06M | $54.41M | $25.74M | $15.24M | $13.46M | $3.30M |
| Cost of revenue | $67.55M | $75.21M | $101.50M | $108.07M | $44.89M | $51.94M | $22.62M | $8.57M | $8.10M | $2.33M |
| Gross profit | -$10.59M | -$14.32M | $35.64M | $13.47M | $6.17M | $2.47M | $3.12M | $6.67M | $5.36M | $968.3K |
| Selling, general and admin | $20.07M | $27.46M | $16.78M | $12.84M | $12.16M | $12.61M | $10.66M | $8.06M | $5.15M | $3.27M |
| Operating income | -$34.14M | -$43.46M | $18.87M | $633.8K | -$5.99M | -$10.15M | -$7.77M | -$1.54M | $204.3K | -$3.11M |
| Interest expense | $2.00M | $554.2K | - | $400.0K | - | - | - | - | - | - |
| Pre-tax income | -$36.07M | -$43.07M | $18.38M | -$553.2K | - | -$10.72M | -$8.45M | -$1.46M | $2.77M | -$4.60M |
| Income tax | - | $2.87M | -$2.27M | - | - | - | - | $82.2K | - | - |
| Net income | -$36.07M | -$45.73M | $20.62M | -$680.8K | -$13.53M | -$10.72M | -$8.45M | -$1.54M | $2.77M | -$4.60M |
| EPS, basic | -$1.80 | -$2.39 | $1.45 | -$0.05 | -$3.09 | -$5.02 | -$4.50 | -$1.00 | $2.00 | -$5.00 |
| EPS, diluted | -$1.80 | -$2.39 | $1.38 | -$0.05 | -$3.09 | -$5.02 | -$4.50 | -$1.00 | $2.00 | -$5.00 |
| Diluted shares | 20.1M | 19.1M | 14.9M | 12.4M | 4.4M | 2.1M | 1.9M | 1.6M | 1.5M | 895,926.36 |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $1.73M | $11.79M | $14.62M | $7.04M | $6.28M | $674.0K | $346.0K | $444.6K | $1.27M | $439.3K |
| Receivables | $4.05M | $3.00M | $9.54M | $9.23M | $3.25M | $180.5K | $3.06M | $206.7K | $5.5K | $126.4K |
| Inventory | $339.6K | $1.78M | $9.05M | $11.19M | $4.36M | $178.3K | - | - | - | - |
| Current assets | $6.98M | $17.87M | $33.37M | $27.56M | $13.89M | $1.25M | $3.57M | $3.06M | $2.99M | $758.8K |
| Goodwill | - | $3.30M | $1.67M | $1.67M | $866.8K | $866.8K | $866.8K | $866.8K | $866.8K | $866.8K |
| Total assets | $8.52M | $23.98M | $41.93M | $34.00M | $19.50M | $7.33M | $9.99M | $4.08M | $3.08M | $2.36M |
| Current liabilities | $18.20M | $6.06M | $12.71M | $23.46M | $10.00M | $15.66M | $7.05M | $4.79M | $2.81M | $4.06M |
| Short-term debt | $16.96M | - | - | - | - | - | $736.2K | $582.5K | $435.0K | $1.79M |
| Long-term debt | $5.17M | $0 | - | - | - | $1.12M | $2.21M | $680.0K | $52.2K | $58.7K |
| Total debt | $22.13M | $0 | $460.5K | $7.67M | - | $1.12M | $2.94M | $1.26M | $487.2K | $1.85M |
| Total liabilities | $23.92M | $8.71M | $13.52M | $28.89M | $15.95M | $18.05M | $14.69M | $6.07M | $3.69M | $4.17M |
| Shareholders' equity | -$15.35M | $15.26M | $28.40M | $5.12M | $3.55M | -$10.73M | -$4.70M | -$1.99M | -$617.2K | -$3.38M |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$21.29M | -$21.31M | $10.29M | $793.3K | -$15.29M | -$4.33M | -$6.53M | -$1.02M | $227.8K | -$641.9K |
| Capital expenditures | $18.6K | $518.2K | - | $11.4K | $51.4K | $6.6K | $227.6K | $331.8K | $147.0K | $3.0K |
| Free cash flow | -$21.31M | -$21.83M | - | $781.9K | -$15.34M | -$4.33M | -$6.76M | -$1.35M | $80.8K | -$644.9K |
| Investing cash flow | -$18.6K | -$3.00M | -$281.3K | -$1.50M | -$376.7K | $8.4K | -$32.2K | -$278.0K | -$147.0K | -$503.0K |
| Financing cash flow | $10.53M | $22.48M | -$2.42M | $1.46M | $21.27M | $4.65M | $6.47M | $464.1K | $607.1K | $1.14M |
| Share repurchases | - | - | - | - | - | $500.0K | - | - | - | - |
| Stock-based compensation | $1.70M | $1.61M | $613.8K | $37.2K | $3.6K | $183.0K | $329.6K | $157.9K | - | - |
| Depreciation and amortization | $206.2K | $942.5K | $935.0K | $933.4K | $759.4K | $1.17M | $227.3K | $149.6K | $6.9K | $433.1K |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | -6.4% | -55.6% | 12.8% | 138.0% | -6.2% | 111.3% | 68.9% | 13.3% | 308.3% | 16.4% |
| Gross margin | -18.6% | -23.5% | 26.0% | 11.1% | 12.1% | 4.5% | 12.1% | 43.8% | 39.9% | 29.4% |
| Operating margin | -59.9% | -71.4% | 13.8% | 0.5% | -11.7% | -18.6% | -30.2% | -10.1% | 1.5% | -94.2% |
| Net margin | -63.3% | -75.1% | 15.0% | -0.6% | -26.5% | -19.7% | -32.8% | -10.1% | 20.6% | -139.5% |
| Free cash flow margin | -37.4% | -35.9% | - | 0.6% | -30.0% | -8.0% | -26.3% | -8.8% | 0.6% | -19.6% |
| Return on equity | - | -299.6% | 72.6% | -13.3% | -381.0% | - | - | - | - | - |
| Return on assets | -423.6% | -190.7% | 49.2% | -2.0% | -69.4% | -146.4% | -84.6% | -37.7% | 90.0% | -195.2% |
| Current ratio | 0.38 | 2.95 | 2.63 | 1.17 | 1.39 | 0.08 | 0.51 | 0.64 | 1.06 | 0.19 |
| Debt to equity | - | 0.00 | 0.02 | 1.50 | - | - | - | - | - | - |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $16.20M | $15.98M | $16.19M | $18.68M | $11.52M | $10.58M | $9.60M | $4.77M | $15.09M | $31.43M | $32.32M | $34.16M |
| Cost of revenue | $16.63M | $23.68M | $18.58M | $21.28M | $14.17M | $13.52M | $20.83M | $12.60M | $18.53M | $23.25M | $24.88M | $23.68M |
| Gross profit | -$425.2K | -$7.70M | -$2.40M | -$2.60M | -$2.65M | -$2.94M | -$11.23M | -$7.83M | -$3.44M | $8.18M | $7.44M | $10.48M |
| Selling, general and admin | $4.63M | $3.50M | $6.92M | $4.35M | $4.16M | $4.64M | $7.15M | $6.45M | $7.43M | $6.43M | $6.58M | $3.39M |
| Operating income | $3.45M | -$11.20M | -$12.80M | -$6.95M | -$6.81M | -$7.58M | -$20.06M | -$14.28M | -$10.88M | $1.75M | $866.2K | $7.09M |
| Interest expense | $1.03M | $881.9K | $1.25M | $424.7K | $279.3K | $119.4K | $192.1K | $112.8K | $116.7K | $132.6K | - | - |
| Pre-tax income | $1.29M | -$12.05M | -$13.86M | -$7.49M | -$7.08M | -$7.64M | -$20.09M | -$14.28M | -$10.34M | $1.64M | $763.8K | $7.01M |
| Income tax | - | - | - | - | - | - | -$100.0K | $0 | $2.55M | $423.0K | - | - |
| Net income | $1.29M | -$12.05M | -$13.86M | -$7.49M | -$7.08M | -$7.64M | -$19.81M | -$14.28M | -$12.87M | $1.22M | $3.02M | $7.08M |
| EPS, basic | $0.05 | -$0.51 | -$0.68 | -$0.38 | -$0.36 | -$0.38 | -$1.07 | -$0.73 | -$0.66 | $0.07 | $0.21 | $0.50 |
| EPS, diluted | $0.05 | -$0.51 | -$0.68 | -$0.38 | -$0.36 | -$0.38 | -$1.07 | -$0.73 | -$0.66 | $0.07 | $0.18 | $0.49 |
| Diluted shares | 25.9M | 23.7M | - | 19.8M | 19.9M | 20.1M | - | 19.7M | 19.4M | 18.7M | - | 14.5M |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $1.95M | $1.99M | $1.73M | $2.51M | $4.40M | $5.40M | $11.79M | $13.65M | $38.43M | $42.95M | $14.62M | $12.73M |
| Short-term investments | - | - | - | - | - | - | - | $10.07M | - | - | - | - |
| Receivables | $1.83M | $5.04M | $4.05M | $4.29M | $2.68M | $2.49M | $3.00M | $1.51M | $1.41M | $8.27M | $9.54M | $9.77M |
| Inventory | $253.9K | $339.6K | $339.6K | $1.92M | $2.41M | $1.78M | $1.78M | $8.36M | $8.36M | $7.34M | $9.05M | $14.55M |
| Current assets | $4.86M | $8.21M | $6.98M | $9.23M | $9.69M | $9.85M | $17.87M | $33.91M | $48.72M | $59.06M | $33.37M | $37.25M |
| Goodwill | - | - | - | $3.30M | $3.30M | $3.30M | $3.30M | $4.17M | $4.17M | $4.17M | $1.67M | $1.67M |
| Total assets | $9.24M | $9.50M | $8.52M | $14.49M | $15.22M | $15.66M | $23.98M | $41.50M | $56.41M | $69.59M | $41.93M | $43.24M |
| Current liabilities | $26.16M | $30.04M | $18.20M | $17.67M | $8.70M | $5.74M | $6.06M | $5.43M | $6.60M | $9.43M | $12.71M | $14.48M |
| Short-term debt | $19.28M | - | $16.96M | - | - | - | - | - | - | - | - | - |
| Long-term debt | $3.39M | $2.83M | $5.17M | $1.86M | $4.83M | - | $0 | - | - | - | - | - |
| Total debt | $22.68M | $2.83M | $22.13M | $1.86M | $4.83M | $3.61M | $0 | $4.42M | $4.81M | $5.19M | $460.5K | $5.11M |
| Total liabilities | $29.99M | $33.37M | $23.92M | $20.92M | $15.15M | $7.88M | $8.71M | $8.22M | $10.12M | $13.40M | $13.52M | $19.40M |
| Shareholders' equity | -$20.69M | -$23.87M | -$15.35M | -$6.37M | $61.4K | $7.78M | $15.26M | $33.28M | $46.28M | $56.19M | $28.40M | $23.84M |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$2.63M | -$4.55M | -$3.56M | -$4.65M | -$6.12M | -$6.96M | -$7.90M | -$13.32M | -$4.13M | $4.04M | $1.96M | $8.11M |
| Investing cash flow | - | - | $0 | $0 | $0 | -$18.6K | $7.58M | - | - | - | $0 | $0 |
| Financing cash flow | $2.59M | $4.95M | $3.06M | $2.76M | $5.13M | -$410.5K | -$545.4K | -$873.7K | -$380.3K | $24.28M | -$67.0K | -$562.3K |
| Stock-based compensation | - | - | - | - | $155.1K | $155.1K | $1.60M | -$4.47M | $2.98M | $6.2K | $585.9K | $9.3K |
| Depreciation and amortization | $26.8K | $26.8K | $26.8K | $26.8K | $66.4K | $86.1K | $81.4K | $282.1K | $70.4K | $70.4K | $233.8K | $233.8K |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | 40.7% | 51.1% | 68.7% | 291.6% | -23.6% | -66.3% | -70.3% | -86.0% | -58.0% | -9.6% | -10.8% | -5.6% |
| Net income growth, YoY | - | - | - | - | - | - | - | - | - | -73.1% | -0.8% | - |
| EPS growth, YoY | - | - | - | - | - | - | - | - | - | -77.4% | -28.0% | - |
| Gross margin | -2.6% | -48.2% | -14.8% | -13.9% | -23.0% | -27.8% | -117.0% | -164.2% | -22.8% | 26.0% | 23.0% | 30.7% |
| Operating margin | 21.3% | -70.1% | -79.1% | -37.2% | -59.1% | -71.7% | -209.0% | -299.3% | -72.1% | 5.6% | 2.7% | 20.8% |
| Net margin | 8.0% | -75.4% | -85.6% | -40.1% | -61.5% | -72.2% | -206.5% | -299.2% | -85.3% | 3.9% | 9.3% | 20.7% |
| Current ratio | 0.19 | 0.27 | 0.38 | 0.52 | 1.11 | 1.72 | 2.95 | 6.24 | 7.38 | 6.26 | 2.63 | 2.57 |
| Debt to equity | - | - | - | - | 78.74 | 0.46 | 0.00 | 0.13 | 0.10 | 0.09 | 0.02 | 0.21 |
Source: XBRL data SurgePays Inc. files with the SEC, latest filing dated Aug 19, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.
* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.
Per-share figures and share counts are restated for stock splits the filings show: 1-for-50, first reported Nov 15, 2021.
EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.
| Company | Revenue | Growth | Net income | Net margin | Market cap |
|---|---|---|---|---|---|
| SURG | $67.06M | +83.9% | -$32.11M | -47.9% | $10.1M |
| OMC | $24.76B | +54.1% | $704.90M | 2.8% | $24.24B |
| WPP | £13.55B | -8.1% | -£215.00M | -1.6% | $6.04B |
| STGW | $3.11B | +7.7% | $9.69M | 0.3% | $2.80B |
| IBTA | $357.74M | +1.6% | -$16.06M | -4.5% | $1.41B |
| CRTO | $1.81B | -7.5% | $77.95M | 4.3% | $843.5M |
| GRPN | $500.03M | +0.8% | -$8.36M | -1.7% | $508.7M |
| MNTN | $323.56M | +18.6% | $57.63M | 17.8% | $366.5M |
| ANGI | $968.94M | -8.4% | -$231.08M | -23.8% | $270.3M |