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Sep 30
Surgepays Q3 2025 Earnings Report
SurgePays reported Q3 2025 results with revenue surging 292% YoY to $18.7 million, despite continuing to operate at a net loss.
Key Takeaways
SurgePays achieved a significant revenue increase driven by its Lifeline and prepaid wireless services, though it posted a net loss due to high operating costs.
Revenue rose to $18.7 million, a 292% year-over-year increase.
Torch Wireless contributed $5.6 million in revenue with over 125,000 subscribers.
Net loss narrowed to $7.49 million compared to $14.28 million in Q3 2024.
Cash balance declined to $2.51 million from $11.79 million at year-end 2024.
Surgepays
Surgepays
Surgepays Revenue by Segment
Revenue by Segment
Torch Wireless Revenue
CapyFin.com Forward Guidance
SurgePays reaffirmed its 2026 revenue guidance of $225 million, backed by subscriber growth, expanded retail footprint, and new MVNE partnerships.
Positive Outlook
- Maintained strong growth in Lifeline subscriber base.
- Retail distribution strategy driving subscriber and revenue expansion.
- High-margin MVNE partnerships onboarded and scaling.
- DigitizeIQ relaunch expected to boost marketing efficiency and margins.
- Platform and tech infrastructure in place for scaling operations.
Challenges Ahead
- Company remains unprofitable with ongoing net losses.
- Gross profit remains negative despite revenue growth.
- Cash reserves decreased significantly during the quarter.
- No improvement in EPS or clear timeline for profitability.
- Reliance on external financing and convertible debt continues.