SURG Nasdaq Telephone Communications (No Radiotelephone) Financials FY2016βFY2025
SurgePays, Inc. had $57.0M of revenue in fiscal 2025, down 6.4% on the year before. Over five years, revenue changed +0.9% a year on average.
Last close Β· Oct 23, 2026
$0.13
5.7%Hi! I read SurgePays, Inc.βs latest annual report (fiscal 2025). Here is what stands out:
Good So-so Weak
Are sales growing?
β6.4%
No. Sales fell 6.4% last year.
Does it make a profit?
β63.3%
No. It lost money last year.
Does profit turn into cash?
β37.4%
No. It spent more cash than it brought in.
How healthy are the accounts?
3 / 9
Weak. It passes 3 of 9 health tests.
How is the share priced?
β
No P/E: it made no profit over the last four quarters.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Is it selling more, and how much does it keep?
In plain words: Every quarter, companies publish how much they sold and earned. These are the days SurgePays, Inc. did it, and the next one. Share prices often move a lot on those days.
Next results
November 11, 2026
Wednesday Β· in 16 days
| Date | Results for | Time | Source |
|---|---|---|---|
| Aug 19, 2026 | Q2 '26 | After the market closes | 10-Q β |
| May 15, 2026 | Q1 '26 | Time not announced | 8-K β |
| Apr 14, 2026 | Q4 '25 | Time not announced | 8-K β |
| Nov 12, 2025 | Q3 '25 | Time not announced | 8-K β |
| Aug 13, 2025 | Q2 '25 | After the market closes | 10-Q β |
| May 13, 2025 | Q1 '25 | After the market closes | 10-Q β |
| Mar 25, 2025 | Q4 '24 | After the market closes | 10-K β |
| Nov 12, 2024 | Q3 '24 | After the market closes | 10-Q β |
From SEC filings: the results press release (8-K) or, without one, the quarterly or annual report.
KIRA Β· SurgePays, Inc. had $57.0M of revenue in fiscal 2025, down 6.4% on the year before. Over five years, revenue changed +0.9% a year on average. Its operating margin was β59.9%, up 11.5Β pts: of every 100 in sales, about β60 is left after running the business.
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
Revenue
Revenue
Margins, % of revenue
Margins, % of revenue
KIRA Β· SurgePays, Inc. lost $36.1M in fiscal 2025.
Loss periods are shown in red.
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
Net income
Net income
Diluted EPS
Diluted EPS
How much cash comes in, and where does it go?
KIRA Β· Free cash flow was β$21.3M in fiscal 2025, β37.4% of revenue.
Cash from operations minus capital spending.
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
Free cash flow
Cash from operations vs capital spending
Cash from operations vs capital spending
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
Dividends and buybacks
Diluted shares outstanding (annual)
KIRA Β· No open-market insider trades in the last 12 months.
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. βPlanβ marks trades under a pre-arranged Rule 10b5-1 plan.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
β
$0.0M
No open-market insider trades in the last 12 months.
Can it carry its debts, and how well does it use its money?
KIRA Β· SurgePays, Inc. owes $30.5M more than it holds in cash.
Cash, debt and the ratios that show how comfortably SurgePays, Inc. can carry it.
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
Cash vs debt (incl. leases)
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $6.3M | $7.0M | $14.6M | $11.8M | $1.7M |
| Debt incl. finance leases | β | $7.7M | $5.0M | $4.0M | $32.2M |
| Net debt / EBITDA | β | 0.4x | β0.5x | β | β |
| Debt / equity | β | 1.5x | 0.2x | 0.3x | β |
| Interest coverage | β | 1.6x | β | β78.4x | β17.0x |
| Current ratio | 1.4x | 1.2x | 2.6x | 2.9x | 0.4x |
| Quick ratio | 1.0x | 0.7x | 1.9x | 2.7x | 0.4x |
| Total assets | $19.5M | $34.0M | $41.9M | $24.0M | $8.5M |
| Total liabilities | $15.9M | $28.9M | $13.5M | $8.7M | $23.9M |
| Shareholders' equity | $3.6M | $5.0M | $28.2M | $15.3M | β$15.3M |
| Net debt (β = net cash) | β | $0.6M | β$9.6M | β$7.8M | $30.5M |
KIRA Β· Its return on capital was β178.3%: every 100 invested in the business earned about β178 in a year.
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Return on capital, equity and assets (annual)
KIRA Β· SurgePays, Inc. passes 3 of 9 financial health tests (Piotroski F-score).
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
| Test | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income is positive | β | β | β | β | β | β | β | β | β | β |
| Cash from operations is positive | β | β | β | β | β | β | β | β | β | β |
| Return on assets rose | β | β | β | β | β | β | β | β | β | β |
| Cash from operations exceeds net income | β | β | β | β | β | β | β | β | β | β |
| Debt fell relative to assets | β | β | β | β | β | β | β | β | β | β |
| Current ratio rose | β | β | β | β | β | β | β | β | β | β |
| Share count didn't rise | β | β | β | β | β | β | β | β | β | β |
| Gross margin rose | β | β | β | β | β | β | β | β | β | β |
| Revenue rose relative to assets | β | β | β | β | β | β | β | β | β | β |
| F-score | β / 3 | 7 / 9 | 2 / 9 | 1 / 9 | 3 / 9 | 3 / 8 | 4 / 8 | 6 / 9 | 2 / 9 | 3 / 9 |
| Accruals ratio | β167.9% | 93.5% | β14.7% | β27.2% | β73.9% | 13.1% | β5.5% | 27.2% | β74.1% | β91.0% |
| Altman Z'' | β27.23 | β0.00 | β7.59 | β11.40 | β32.45 | β6.39 | β2.34 | 7.27 | β15.39 | β73.38 |
Every number, year by year.
Amounts in USD. Hover a ratioβs name for its definition.
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $3.3M | $13.5M | $15.2M | $25.7M | $54.4M | $51.1M | $122M | $137M | $60.9M | $57.0M |
| Net interest income | β | β | β | β | β | β | β | β | β | $0.2M |
| Gross profit | $1.0M | $5.4M | $6.7M | $3.1M | $2.5M | $6.2M | $13.5M | $35.6M | β$14.3M | β$10.6M |
| Operating income | β$3.1M | $0.2M | β$1.5M | β$7.8M | β$10.1M | β$6.0M | $0.6M | $18.9M | β$43.5M | β$34.1M |
| Interest expense | β | β | β | β | β | β | $0.4M | β | $0.6M | $2.0M |
| Pretax income | β$4.6M | $2.8M | β$1.5M | β$8.4M | β$10.7M | β | β$0.6M | $18.4M | β$43.1M | β$36.1M |
| Income tax | β | β | $0.1M | β | β | β | β | β$2.3M | $2.9M | β |
| Net income | β$4.6M | $2.8M | β$1.5M | β$8.4M | β$10.7M | β$13.5M | β$0.7M | $20.6M | β$45.7M | β$36.1M |
| Net income to common | β | β | β | β | β | β | β$0.7M | $20.6M | β$45.7M | β$36.1M |
| Diluted EPS | β$0.10 | $0.04 | β$0.02 | β$0.09 | β$5.02 | β$3.09 | β$0.05 | $1.38 | β$2.39 | β$1.80 |
| Diluted shares | 0.04B | 0.08B | 0.08B | 0.10B | 0.00B | 0.00B | 0.01B | 0.01B | 0.02B | 0.02B |
| Cash flow | ||||||||||
| Cash from operations | β$0.6M | $0.2M | β$1.0M | β$6.5M | β$4.3M | β$15.3M | $0.8M | $10.3M | β$21.3M | β$21.3M |
| Capital expenditure | $0.0M | $0.1M | $0.3M | $0.2M | $0.0M | $0.1M | $0.0M | β | $0.5M | $0.0M |
| Free cash flow | β$0.6M | $0.1M | β$1.3M | β$6.8M | β$4.3M | β$15.3M | $0.8M | β | β$21.8M | β$21.3M |
| Depreciation and amortization | $0.4M | $0.0M | $0.1M | $0.2M | $1.2M | $0.8M | $0.9M | $0.9M | $0.9M | $0.2M |
| Stock-based compensation | β | β | $0.2M | $0.3M | $0.2M | $0.0M | $0.0M | $0.6M | $1.6M | $1.7M |
| Share buybacks | β | β | β | β | $0.5M | β | β | β | β | β |
| Dividends and buybacks | β | β | β | β | $0.5M | β | β | β | β | β |
| Balance sheet | ||||||||||
| Cash and short-term investments | $0.4M | $1.3M | $0.4M | $0.3M | $0.7M | $6.3M | $7.0M | $14.6M | $11.8M | $1.7M |
| Total debt | $1.8M | $0.5M | $1.3M | $8.5M | $7.8M | β | $7.7M | $5.0M | $4.0M | $32.2M |
| Current assets | $0.8M | $3.0M | $3.1M | $3.6M | $1.3M | $13.9M | $27.6M | $33.4M | $17.9M | $7.0M |
| Current liabilities | $4.1M | $2.8M | $4.8M | $7.1M | $15.7M | $10.0M | $23.5M | $12.7M | $6.1M | $18.2M |
| Inventory | β | β | β | β | $0.2M | $4.4M | $11.2M | $9.0M | $1.8M | $0.3M |
| Property and equipment, net | $0.0M | $0.0M | $0.0M | $0.3M | $0.2M | $0.2M | $0.6M | $0.4M | $0.6M | $0.4M |
| Goodwill | $0.9M | $0.9M | $0.9M | $0.9M | $0.9M | $0.9M | $1.7M | $1.7M | $3.3M | β |
| Intangible assets | $0.2M | $0.1M | $0.1M | $4.8M | $4.1M | $3.4M | $2.8M | $2.1M | $1.5M | $0.8M |
| Total assets | $2.4M | $3.1M | $4.1M | $10.0M | $7.3M | $19.5M | $34.0M | $41.9M | $24.0M | $8.5M |
| Total liabilities | $4.2M | $3.7M | $6.1M | $14.7M | $18.1M | $15.9M | $28.9M | $13.5M | $8.7M | $23.9M |
| Preferred stock | $0.0M | $0.0M | β | β | β | β | β | β | β | β |
| Shareholders' equity | β$3.4M | β$0.6M | β$2.0M | β$4.7M | β$10.7M | $3.6M | $5.0M | $28.2M | $15.3M | β$15.3M |
| Margins | ||||||||||
| Gross margin | 29.4% | 39.9% | 43.8% | 12.1% | 4.5% | 12.1% | 11.1% | 26.0% | β23.5% | β18.6% |
| Operating margin | β94.2% | 1.5% | β10.1% | β30.2% | β18.6% | β11.7% | 0.5% | 13.8% | β71.4% | β59.9% |
| EBITDA margin | β81.1% | 1.6% | β9.1% | β29.3% | β16.5% | β10.2% | 1.3% | 14.4% | β69.8% | β59.6% |
| Net margin | β139.5% | 20.6% | β10.1% | β32.8% | β19.7% | β26.5% | β0.6% | 15.0% | β75.1% | β63.3% |
| FCF margin | β19.6% | 0.6% | β8.8% | β26.3% | β8.0% | β30.0% | 0.6% | β | β35.9% | β37.4% |
| Net interest share of revenue | β | β | β | β | β | β | β | β | β | 0.4% |
| Returns | ||||||||||
| Return on capital | β | β | β | β176.7% | β | β | 8.9% | 101.0% | β454.8% | β178.3% |
| Return on capital employed | 182.5% | 76.7% | 217.0% | β264.9% | 121.7% | β63.1% | 6.0% | 64.6% | β242.6% | 352.4% |
| Return on equity | β | β | β | β | β | β | β15.9% | 124.1% | β209.9% | β |
| Return on assets | β195.2% | 101.9% | β43.0% | β120.1% | β123.9% | β100.9% | β2.5% | 54.3% | β138.8% | β222.0% |
| Return on tangible equity | β | β | β | β | β | β | β125.2% | 84.3% | β433.7% | β |
| Growth | ||||||||||
| Revenue growth | β | 308.3% | 13.3% | 68.9% | 111.3% | β6.2% | 138.0% | 12.8% | β55.6% | β6.4% |
| Net income growth | β | β | β155.7% | β | β | β | β | β | β321.8% | β |
| EPS growth | β | β | β150.0% | β | β | β | β | β | β273.2% | β |
| FCF growth | β | β | β1,767.6% | β | β | β | β | β | β | β |
| Share count change | β | 70.1% | 7.1% | 17.9% | β97.8% | 105.3% | 182.9% | 20.4% | 28.1% | 5.1% |
| Financial health | ||||||||||
| Net debt / EBITDA | β | β3.7x | β | β | β | β | 0.4x | β0.5x | β | β |
| Debt / equity | β | β | β | β | β | β | 1.5x | 0.2x | 0.3x | β |
| Interest coverage | β | β | β | β | β | β | 1.6x | β | β78.4x | β17.0x |
| Current ratio | 0.2x | 1.1x | 0.6x | 0.5x | 0.1x | 1.4x | 1.2x | 2.6x | 2.9x | 0.4x |
| Quick ratio | 0.2x | 1.1x | 0.6x | 0.5x | 0.1x | 1.0x | 0.7x | 1.9x | 2.7x | 0.4x |
| Capital allocation | ||||||||||
| Capex / revenue | 0.1% | 1.1% | 2.2% | 0.9% | 0.0% | 0.1% | 0.0% | β | 0.9% | 0.0% |
| Stock comp / revenue | β | β | 1.0% | 1.3% | 0.3% | 0.0% | 0.0% | 0.4% | 2.6% | 3.0% |
| Quality scores | ||||||||||
| Piotroski F-score | β | 7.0 | 2.0 | 1.0 | 3.0 | 3.0 | 4.0 | 6.0 | 2.0 | 3.0 |
| Altman Z'' | β27.2 | β0.0 | β7.6 | β11.4 | β32.4 | β6.4 | β2.3 | 7.3 | β15.4 | β73.4 |
| Accruals ratio | β167.9% | 93.5% | β14.7% | β27.2% | β73.9% | 13.1% | β5.5% | 27.2% | β74.1% | β91.0% |
Source: SEC EDGAR XBRL filings (CIK 0001392694). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only β not investment advice. Check the original filings before relying on any figure.
