SurgePays, Inc.
SURG· Nasdaq· Telephone Communications (No Radiotelephone)
- Market cap
- –
- P/FCF
- –
- EV/Sales
- –
- FCF margin
- -37.4%
- ROIC, 5 yr avg
- –
- Revenue, 5 yr CAGR
- +0.9%
We record prices for the companies we cover; SURG is not one of them yet.
Company statistics
Profile · FY2025
- Market cap
- –
- Enterprise value
- –
- Diluted shares
- 20.1M
- Revenue
- $57.0M
- Free cash flow
- -$21.3M
- Owner earnings
- -$23.0M
Valuation · FY2025
- P/E
- –
- P/FCF
- –
- P/Owner earnings
- –
- EV/Sales
- –
- EV/FCF
- –
- P/B
- –
Margins · FY2025
- Gross
- –
- Operating
- -59.9%
- Net
- -63.3%
- Free cash flow
- -37.4%
- Owner earnings
- -40.4%
- Stock pay
- 3.0%
Returns
- ROIC, FY2025
- –
- ROIC, 5 yr avg
- –
- ROE, FY2025
- –
- ROE, 5 yr avg
- –
Growth (CAGR)
- Revenue, 3 yr
- -22.3%
- Revenue, 5 yr
- 0.9%
- Revenue, 9 yr
- 37.2%
- Diluted EPS, 3 yr
- –
- Diluted EPS, 5 yr
- –
- Diluted EPS, 9 yr
- –
- Free cash flow, 3 yr
- –
- Free cash flow, 5 yr
- –
- Free cash flow, 9 yr
- –
Financial health · FY2025
- Cash and investments
- $1.7M
- Total debt
- $13.3M
- Net debt
- $11.5M
- Debt/Equity
- –
- Debt/FCF
- –
Shareholder returns · FY2025
- Dividend yield
- –
- Payout ratio
- –
- Buyback yield
- –
- Shareholder yield
- –
- Share count, 5 yr
- –
Financials: ten years from the 10-Ks
Revenue
$57.0M
+37.2% a year over 9 years
FY2016FY2025
Margins
Gross–Operating-59.9%Net-63.3%
FY2025
FY2016FY2025
Free cash flow and owner earnings
Free cash flow-$21.3MOwner earnings-$23.0M
FY2025
FY2016FY2025
Diluted shares
20.1M
+62.0% over 9 years, net dilution
FY2016FY2025
Net debt (below zero)
-$11.5M
$11.5M more debt than cash
FY2016FY2025
Every figure, year by year
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| The business | ||||||||||
| Revenue | $3.3M | $13.5M | $15.2M | $25.7M | $54.4M | $51.1M | $121.5M | $137.1M | $60.9M | $57.0M |
| Revenue growth | 16.4% | 308.3% | 13.3% | 68.9% | 111.3% | -6.2% | 138.0% | 12.8% | -55.6% | -6.4% |
| Gross margin | 29.4% | 39.9% | 43.8% | 12.1% | 4.5% | – | – | – | – | – |
| Operating margin | -94.2% | 1.5% | -10.1% | -30.2% | -18.6% | -11.7% | 0.5% | 13.8% | -71.4% | -59.9% |
| Net income | -$4.6M | $2.8M | -$1.5M | -$8.4M | -$10.7M | -$13.5M | -$680.8K | $20.6M | -$45.7M | -$36.1M |
| Net margin | -139.5% | 20.6% | -10.1% | -32.8% | -19.7% | -26.5% | -0.6% | 15.0% | -75.1% | -63.3% |
| Diluted EPS | – | – | – | – | – | – | $-0.05 | $1.38 | $-2.39 | $-1.80 |
| Return on invested capital? | – | – | – | – | – | – | – | – | – | – |
| Cash | ||||||||||
| Operating cash flow | -$641.9K | $227.8K | -$1.0M | -$6.5M | -$4.3M | -$15.3M | $793.3K | $10.3M | -$21.3M | -$21.3M |
| Capital expenditure | $3.0K | $147.0K | $331.8K | $227.6K | $6.6K | $51.4K | $11.4K | – | $518.2K | $18.6K |
| Free cash flow | -$644.9K | $80.8K | -$1.3M | -$6.8M | -$4.3M | -$15.3M | $781.9K | – | -$21.8M | -$21.3M |
| Stock-based compensation | – | – | $157.9K | $329.6K | $183.0K | $3.6K | $37.2K | $613.8K | $1.6M | $1.7M |
| Owner earnings? | – | – | -$1.5M | -$7.1M | -$4.5M | -$15.3M | $744.7K | – | -$23.4M | -$23.0M |
| Free cash flow per share | – | – | – | – | – | – | $0.06 | – | $-1.14 | $-1.06 |
| Capital allocation | ||||||||||
| Dividends paid | – | – | – | – | – | – | – | – | – | – |
| Share repurchases | – | – | – | – | $500.0K | – | – | – | – | – |
| Diluted shares | – | – | – | – | – | – | 12.4M | 14.9M | 19.1M | 20.1M |
| Share count change? | – | – | – | – | – | – | – | 20.4% | 28.1% | 5.1% |
| Balance sheet | ||||||||||
| Cash and equivalents | $439.3K | $1.3M | $444.6K | $346.0K | $674.0K | $6.3M | $7.0M | $14.6M | $11.8M | $1.7M |
| Short-term investments | – | – | – | – | – | – | – | – | – | – |
| Total debt | $1.8M | $487.2K | $1.3M | $2.9M | $1.1M | $2.5M | $7.7M | $5.0M | $4.0M | $13.3M |
| Net debt | $1.4M | -$787.0K | $817.9K | $2.6M | $446.4K | -$3.7M | $636.3K | -$9.6M | -$7.8M | $11.5M |
| Shareholders' equity | -$3.4M | -$617.2K | -$2.0M | -$4.7M | -$10.7M | $3.6M | $5.0M | $28.2M | $15.3M | -$15.3M |
Latest filings
| 2026-08-19 | 10-Q | Quarterly report |
| 2026-05-20 | 10-Q | Quarterly report |
| 2026-05-20 | 8-K | Earnings release |
| 2026-05-07 | DEF 14A | Proxy statement |
| 2026-04-16 | 8-K | Earnings release |
| 2026-04-15 | 10-K | Annual report |
| 2025-11-13 | 8-K | Earnings release |
| 2025-11-12 | 10-Q | Quarterly report |
| 2025-08-13 | 10-Q | Quarterly report |
| 2025-05-13 | 10-Q | Quarterly report |
More from our coverage
- MSFTPlatforms8.4MicrosoftThe most entrenched software franchise in the enterprise, now spending its cash flow on AI capacity; a great business we would own with a margin of safety, not at any price.Base value $410.29
- NVDAAI infrastructure8.4NVIDIAThe best business in technology at the top of its cycle: the moat is CUDA as much as silicon, but today's margins are a peak, not a floor.Base value $104.32
- AAPLHardware7.6AppleOne of the highest-quality businesses in the world growing in the low single digits; the price usually assumes more growth than the numbers show.Base value $134.27
- GOOGLPlatforms7.4AlphabetSearch pays for everything, and AI is both its biggest threat and its biggest opportunity; the price has to allow for search being worth less than it was.Base value $209.60
- NOWSoftware7.4ServiceNowA rare enterprise platform still growing above 20% with high retention; the free cash flow is real but stock pay takes a large share of it.Base value $189.13
- ADBESoftware7.4AdobeSuperb margins and a shrinking share count, priced for decline; the question is whether AI makes Adobe's tools more valuable or makes them unnecessary.Base value $449.35
