SurgePays (SURG)
Prepaid wireless, wholesale mobile-network enablement, and retail top-up services.
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Provides subsidized and prepaid wireless, wholesale mobile-network enablement, and prepaid point-of-sale services to underserved U.S. communities. Revenue combines recurring wireless service, wholesale accounts and usage, retail top-ups and activations, with AT&T network integration underpinning the wireless architecture.
Combines Torch Wireless, LinkUp Mobile, and the Hero wholesale MVNE platform with point-of-sale and prepaid services for independent retailers. Torch serves Lifeline participants; LinkUp sells prepaid service through online channels, wireless dealers, and neighborhood stores; Hero supplies billing, provisioning, SIMs, eSIMs, and network access to other wireless providers.
Operates nationwide in lower-income and underbanked communities through convenience stores, community markets, field enrollment, and online acquisition. Its distribution system connects retailers to wireless activation, payments, and recurring top-up activity, while Clearline adds digital promotions, coupons, loyalty, and point-of-sale engagement.
Relies on independent-store execution, acquisition funding, and physical-device and SIM availability. Branded and wholesale wireless operations are integrated with AT&T for network access, certification, porting, and SIM/eSIM support.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
No analyst notes in the last 24 months.
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $2.4M · Total debt $17.9M · Total assets $9.2M · Shareholders' equity −$20.7M
- Revenue
- $16.2M
- Operating income
- −$5.1M
- Net income
- $1.3M
No dividends on record.
| Institutions | 9.19% | 2.31M shares | |
|---|---|---|---|
| 37 holders · as of Jun 30, 2026 | |||
| Insiders | 18.33% | 4.61M shares | |
| 7 holders · as of Sep 16, 2026 | |||
| Other | 72.48% | 18.21M shares | |
| remainder | |||
25.12M company shares as of Sep 21, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Two share counts disagree (52.91M in the company's Sep 23, 2026 report, 25.12M elsewhere); stakes use the report.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Kevin Brian CoxInsiderdirector, 10 percent owner, officer: CEO & Chairman | 6.25% | 1.57M | filed Apr 7, 2026 |
Bradley James CrosbyInsider | 4.84% | 1.22M | filed Sep 8, 2025 |
Vanguard Capital Management LLCInstitution | 2.26% | 567,358 | as of Jun 30, 2026 |
David Allen MayInsiderdirector | 1.94% | 486,805 | filed Sep 8, 2026 |
Gaddis Premier Wealth Advisors LLCInstitution | 1.74% | 438,287 | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jun 3, 2026 | David Allen May | director | +5,413 | $0.5255 |
| Jun 4, 2026 | David Allen May | director | +121 | $0.5255 |
| Jun 5, 2026 | David Allen May | director | +34,716 | $0.5255 |
| Dec 10, 2025 | David Allen May | director | +38,422 | $1.60 |
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Broad prepaid rival across retail distribution and wireless activations.
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