SurgePays stock falls after Q4 miss, CEO says 'cannot predict any outcome' on ACP funding [Seeking Alpha]
SurgePays, Inc. (SURG)
US:NASDAQ Investor Relations:
globenewswire.com/news-release/2018/02/15/1348912/0/en/surge-holdings-inc-has-been-approved-for-trading-on-the-otcqb-venture-market.html
Company Research
Source: Seeking Alpha
below expectations, even as it recorded its most profitable year, delivering highest ever net income of $20.6 million, and core earnings of $22.3 million. SurgePays, which offers wireless and fintech services to underserved and underbanked populations, has been a beneficiary of the Affordable Connectivity Program subsidy. However, the ACP stopped accepting new applications and enrollments in February and is expected to run out of funding in April 2024. Speaking about the same, the company hopes that the program, which assists more than 20 million households, will be funded by Congress; however, at this time, "we cannot predict any outcome," CEO Brian Cox commented. "If the ACP is funded, we plan to expand our ACP customer base and use this base to expand our other business segments. If the ACP is not funded, we will look to increase revenue growth in our planned non-subsidized MVNO business and Comprehensive Platform Services through organic sales, key hires, and, as opportuniti
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News
- SurgePays to Participate in Water Tower Fireside Chat Series [Yahoo! Finance]Yahoo! Finance
- SurgePays to Participate in Water Tower Fireside Chat SeriesGlobeNewswire
- Is Weakness In SurgePays, Inc. (NASDAQ:SURG) Stock A Sign That The Market Could be Wrong Given Its Strong Financial Prospects? [Yahoo! Finance]Yahoo! Finance
- SurgePays, Inc. (NASDAQ: SURG) had its price target lowered by analysts at Ascendiant Capital Markets from $11.50 to $10.00. They now have a "buy" rating on the stock.MarketBeat
- SurgePays Stock: Don't Double Down (Rating Downgrade) [Seeking Alpha]Seeking Alpha
SURG
Sec Filings
- 5/3/24 - Form 4
- 5/3/24 - Form 4
- 4/26/24 - Form 4
- SURG's page on the SEC website