Filing Flows › SurgePays (SURG) › Q1 2026 › vs Q4 2025
SurgePays (SURG) Q1 2026 vs Q4 2025 (quarter over quarter)
SurgePays's revenue fell $203K (-1%) from $16.2M in Q4 2025 to $16.0M in Q1 2026. The biggest changes: Mobile Virtual Network Operators −$1.5M (-46%); Point-of-Sale and Prepaid Services +$1.3M (+10%).
SurgePays, Q1 2026: revenue $16.0M (+51% year over year), operating margin -70.1%, net loss $12.1M, operating cash flow −$4.6M. The chart draws each line against Q4 2025, the increases inside each band.
Every line
| Line | Q1 2026 | Q4 2025 | Change | % |
|---|---|---|---|---|
| Point-of-Sale and Prepaid Services | $14.2M | $12.9M | $1.3M | +10% |
| Mobile Virtual Network Operators | $1.8M | $3.3M | −$1.5M | -46% |
| Revenue | $16.0M | $16.2M | −$203K | -1% |
| Net loss | $12.1M | $13.9M | −$1.8M | -13% |
| Costs & expenses | $28.0M | $30.0M | −$2.0M | -7% |
| Operating costs | $27.2M | $29.0M | −$1.8M | -6% |
| Interest & other, net | $852K | $1.1M | −$214K | -20% |
| Cost of revenue | $23.7M | $18.6M | $5.1M | +27% |
| SG&A | $3.5M | $6.9M | −$3.4M | -49% |
| Operating cash sources | $12.1M | $13.9M | −$1.8M | -13% |
| Depreciation & amortization | $27K | $27K | $0 | 0% |
| Working capital & other | $7.5M | $10.3M | −$2.8M | -27% |
| Cash used in operations | $4.6M | $3.6M | $986K | +28% |
| Net loss absorbed | $12.1M | $13.9M | −$1.8M | -13% |
Questions
How much did SurgePays's revenue grow quarter over quarter in Q1 2026?
SurgePays's revenue fell $203K (-1%) from $16.2M in Q4 2025 to $16.0M in Q1 2026.
What drove SurgePays's revenue change in Q1 2026?
Mobile Virtual Network Operators −$1.5M (-46%); Point-of-Sale and Prepaid Services +$1.3M (+10%).