Filing Flows › SurgePays (SURG) › Q4 2025
SurgePays (SURG) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Apr 15, 2026
SurgePays (SURG) reported revenue of $16.2M for the fourth quarter 2025 (Q4 2025), +69% from a year earlier and -13% from the quarter before. Operating margin was -79.1%, net loss $13.9M (85.6% of revenue).
SurgePays, Q4 2025: revenue $16.2M (+69% year over year), operating margin -79.1%, net loss $13.9M, operating cash flow −$3.6M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $16.2M | -13% | +69% |
| Operating profit | −$12.8M | — | — |
| Net earnings | −$13.9M | — | — |
| Operating cash flow | −$3.6M | — | — |
What changed
Revenue was $16.2M in Q4 2025, up 69% year over year and down 13% from the previous quarter. Point-of-Sale and Prepaid Services was the largest line at 79% of revenue.
Operating costs exceeded revenue by $12.8M, an operating margin of -79.1%. Total costs fell 2% while revenue rose 69%. The fastest-growing cost line was Other operating costs (+107%). The quarter ended with a net loss of $13.9M, wider than the previous quarter's $7.5M loss.
Operating cash flow was −$3.6M. Non-cash charges added back $27K of depreciation and amortization. Working capital and other items added $10.3M.
Questions
What was SurgePays' revenue in the fourth quarter 2025?
SurgePays (SURG) reported revenue of $16.2M for the fourth quarter 2025 (Q4 2025), +69% from a year earlier and -13% from the quarter before.
Was SurgePays profitable in the fourth quarter 2025?
Operating loss was $12.8M (-79.1% of revenue) and net loss $13.9M.
Source: SurgePays 10-K on SEC EDGAR.