NASDAQ$SURG
Surgepays Inc · Q2 2025 earnings
Q2 2025 earnings · · After market close · Investor relations
Briefing
SurgePays posted a Q2 2025 net loss of $7.1 million despite revenue growth of nearly 9% sequentially, driven by expansion in Lifeline and MVNO platforms.
In Q2 2025, SurgePays grew revenue to $11.5 million, an 8.9% increase over Q1, driven by Torch Wireless and LinkUp Mobile. Despite higher costs and investments in growth initiatives, the company remains on track to achieve positive operating cash flow before year-end. Net loss narrowed compared to the previous year.
- Revenue reached $11.5 million, up from $10.6 million in Q1 2025.
- Torch Wireless activated 20,000 subscribers in June and 57,000 in July.
- Net loss for the quarter was $7.1 million, with EPS at -$0.36.
- SurgePays reaffirmed 2025 revenue guidance of $75M to $90M.
Headline financials
Revenue & EPS history
Surgepays · Revenue · Quarterly
$11.5M
Revenue by segment
Surgepays · $16M total across 2 segments · Q1 2026
- Point-of-Sale and Prepaid Services$14.2M—88.7%
- Mobile Virtual Network Operators$1.8M—11.3%
Forward guidance
SurgePays expects continued revenue acceleration, reaffirming 2025 guidance and projecting strong performance into 2026 driven by subscriber growth and expanding wholesale infrastructure.
Tailwinds
- 2025 revenue guidance reaffirmed at $75M to $90M.
- 2026 revenue forecast increased to $225M to $240M.
- Torch Wireless expected to reach 80K–90K monthly activations by September.
- MVNE platform gaining new partners and scale.
- Positive operating cash flow expected by year-end 2025.
Headwinds
- No segment-specific revenue breakdown disclosed.
- Operating and net losses continued in Q2.
- Cost of revenue exceeded total revenue for the quarter.
- Heavy upfront investments in platform and infrastructure.
- ACP program wind-down affecting YoY comparisons.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 18 quarterly earnings reports · overlaid with Q2 2025
-1.0%
Avg return
Earnings day
+0.8%
Avg return
5 days after
-0.1%
Avg return
30 days after
47%
16 / 34 earnings
Positive
+70.3%
Q4 2024
Best reaction
-30.7%
Q2 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -3.8% | — | — | |
| Q4 2025 | -7.9% | +6.8% | -20.7% | |
| Q3 2025 | -17.8% | -20.6% | -39.1% | |
| Q2 2025 | -25.5% | -21.2% | +3.1% | |
| Q1 2025 | +1.8% | +10.9% | -6.0% | |
| Q4 2024 | +70.3% | +50.0% | +141.3% | |
| Q3 2024 | +3.6% | -7.3% | +11.5% | |
| Q2 2024 | -24.9% | -21.9% | -44.5% | |
| Q1 2024 | +11.5% | +10.1% | +2.1% | |
| Q4 2023 | -20.3% | -26.6% | -34.6% | |
| Q3 2023 | -1.1% | +5.9% | -3.6% | |
| Q2 2023 | -5.0% | -14.0% | -11.6% | |
| Q1 2023 | +10.9% | +35.7% | +73.3% | |
| Q4 2022 | -6.7% | +5.0% | -10.6% | |
| Q3 2022 | -6.8% | +4.6% | +25.8% | |
| Q2 2022 | -30.7% | -25.6% | -35.7% | |
| Q1 2022 | +5.3% | +18.4% | +31.8% | |
| Q4 2021 | +1.3% | +3.5% | -8.9% | |
| Q3 2021 | +6.2% | -16.5% | -16.3% | |
| Q2 2021 | -12.4% | -13.6% | +9.1% | |
| Q4 2020 | +11.9% | +16.0% | -10.0% | |
| Q1 2021 | +11.9% | +16.0% | -10.0% | |
| Q3 2020 | +13.1% | +39.4% | +36.7% | |
| Q2 2020 | +3.9% | +14.3% | -12.1% | |
| Q1 2020 | -10.2% | -10.1% | -17.2% | |
| Q4 2019 | -4.1% | -3.3% | -7.0% | |
| Q3 2019 | +8.6% | +28.6% | +5.4% | |
| Q2 2019 | -14.3% | -15.8% | -40.4% | |
| Q1 2019 | -16.0% | -30.8% | -37.6% | |
| Q4 2018 | -1.7% | +3.0% | +26.4% | |
| Q3 2018 | +4.0% | -4.0% | -0.5% | |
| Q2 2018 | -3.7% | -11.1% | -12.1% | |
| Q1 2018 | +11.6% | +15.9% | +14.6% | |
| Q4 2017 | +3.3% | -15.0% | -6.7% | |
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