Filing Flows › SurgePays (SURG) › Q3 2025
SurgePays (SURG) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 12, 2025
SurgePays (SURG) reported revenue of $18.7M for the third quarter 2025 (Q3 2025), +292% from a year earlier and +62% from the quarter before. Operating margin was -37.2%, net loss $7.5M (40.1% of revenue).
SurgePays, Q3 2025: revenue $18.7M (+292% year over year), operating margin -37.2%, net loss $7.5M, operating cash flow −$4.6M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $18.7M | +62% | +292% |
| Operating profit | −$7.0M | — | — |
| Net earnings | −$7.5M | — | — |
| Operating cash flow | −$4.6M | — | — |
What changed
Revenue was $18.7M in Q3 2025, up 292% year over year and up 62% from the previous quarter. Point-of-Sale and Prepaid Services was the largest line at 70% of revenue. Point-of-Sale and Prepaid Services added $8.4M year over year (up 176%), 60% of the total change.
Operating costs exceeded revenue by $7.0M, an operating margin of -37.2%. Total costs grew 35% against revenue growth of 292%. The fastest-growing cost line was Cost of revenue (+69%). The quarter ended with a net loss of $7.5M, wider than the previous quarter's $7.1M loss.
Operating cash flow was −$4.6M. Non-cash charges added back $27K of depreciation and amortization. Working capital and other items added $2.8M.
Questions
What was SurgePays' revenue in the third quarter 2025?
SurgePays (SURG) reported revenue of $18.7M for the third quarter 2025 (Q3 2025), +292% from a year earlier and +62% from the quarter before.
Was SurgePays profitable in the third quarter 2025?
Operating loss was $7.0M (-37.2% of revenue) and net loss $7.5M.
Source: SurgePays 10-Q on SEC EDGAR.