SurgePays, Inc.
Financial highlights
| Metric | FY December 31, 2025 | FY December 31, 2024 | FY December 31, 2023 | FY December 31, 2022 | FY December 31, 2021 |
|---|---|---|---|---|---|
| Revenue | $57.0M | $60.9M | $137.1M | $121.5M | $51.1M |
| Operating income | -$34.1M | -$43.5M | $18.9M | $633,785 | -$6.0M |
| Operating expenses | $20.1M | $27.5M | $16.8M | $12.8M | $12.2M |
| Cost of revenue | $67.6M | $75.2M | $101.5M | $108.1M | $44.9M |
| Cash from operations | -$21.3M | -$21.3M | $10.3M | $793,272 | -$15.3M |
| Capital expenditure | $18,590 | $518,189 | — | $11,402 | $51,408 |
| Free cash flow | -$21.3M | -$21.8M | — | $781,870 | -$15.3M |
| Share repurchases | — | $631,967 | — | — | — |
| Impairments | $0 | $866,782 | $0 | $0 | $0 |
| Total assets | $8.5M | $24.0M | $41.9M | $34.0M | $19.5M |
| Total liabilities | $23.9M | $8.7M | $13.5M | $28.9M | $15.9M |
| Total debt | $9.9M | $469,396 | $460,523 | $474,846 | $1.1M |
Shares outstanding 25.1M · Free float 58.0%
Annual filing data through FY ended December 31, 2025; float as of July 13, 2026.