SurgePays, Inc. (NASDAQ:SURG)
Insiders here have filed 3 Form 4s in the last 90 days, but all of them are share awards, grants or other non-market transactions. Those are compensation, not a decision to buy, so they are not scored.
Loses money on what it sells.
- Revenue
- $67.1M
- Net income
- -$32.1M
- Net margin
- -47.9%
Not enough balance-sheet detail to judge the debt load.
- Total debt
- $17.9M
- Cash
- $2.4M
Owes more within a year than it holds to pay it.
- Current assets
- $4.9M
- Current liabilities
- $26.2M
- Current ratio
- 0.19
Consumes cash and must keep raising it.
- Operating cash flow
- -$15.4M
- Free cash flow
- -$15.4M
- FCF margin
- -23.0%
Burning cash with under a year of runway — expect a raise.
- Shares outstanding
- 25.9M
- Share growth (1y)
- 30.3%
- Cash runway
- 2 months
Five pillars — profitability, leverage, liquidity, cash generation, dilution & runway — each scored 0–20 from the company’s own income statement, balance sheet and cash-flow statement, then scaled to 100. A pillar the statements cannot answer is left out rather than guessed; fewer than three and no score is shown.
SURG Income Statement
| Fiscal Period | Q2 2026 | Q2 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
|---|---|---|---|---|---|---|
| Period Ending | Jun 30, 2026 | Apr 14, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 |
| Revenue | 16.20 M | 15.98 M | 16.19 M | 18.68 M | 11.52 M | 10.58 M |
| Revenue Growth (YoY) | 40.69 % | 51.11 % | 68.67 % | 291.65 % | -23.65 % | -66.35 % |
| Cost of Revenue | 16.63 M | 23.68 M | 18.58 M | 21.28 M | 14.17 M | 13.52 M |
| Gross Profit | -425.17 K | -7.70 M | -2.40 M | -2.60 M | -2.65 M | -2.94 M |
| SG&A Expense | 4.63 M | 3.50 M | 7.15 M | 4.35 M | 3.93 M | 4.64 M |
| R&D Expense | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Operating Expenses | 4.63 M | 3.50 M | 10.40 M | 4.35 M | 4.16 M | 4.64 M |
| Operating Income | -5.06 M | -11.20 M | -12.80 M | -6.95 M | -6.81 M | -7.58 M |
| Pretax Income | 1.29 M | -12.05 M | -13.86 M | -7.49 M | -7.08 M | -7.64 M |
| Tax Provision | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Net Income | 1.29 M | -12.05 M | -13.86 M | -7.49 M | -7.08 M | -7.64 M |
| EPS (Basic) | 0.05 | -0.51 | -0.68 | -0.38 | -0.36 | -0.38 |
| EPS (Diluted) | 0.05 | -0.51 | -0.68 | -0.38 | -0.36 | -0.38 |
| Shares Outstanding | 25.92 M | 23.70 M | 20.09 M | 19.84 M | 19.89 M | 20.07 M |
Quarterly figures; YoY compares the same fiscal quarter a year earlier. Source: public market data.