Fintech firm SurgePays' Q3 revenue misses estimates

Reuters11-12

Fintech firm SurgePays' Q3 revenue misses estimates

Overview

SurgePays Q3 revenue grows 292% yr/yr but misses analyst expectations
Company reiterates 2026 revenue guidance of $225 mln
Torch Wireless drives Q3 growth with revenue reaching $5.6 mln

Outlook

SurgePays reiterates 2026 revenue guidance of $225 mln
Company expects growth from Lifeline subscribers and prepaid distribution

Result Drivers

TORCH WIRELESS - Lifeline-subsidized brand drives Q3 growth with revenue reaching $5.6 mln and over 125,000 subscribers
LINKUP MOBILE - Affordable prepaid wireless brand surpasses 95,000 subscribers by end of Q3, driven by expanded retail distribution and competitive pricing
RETAIL EXPANSION - SurgePays aims to expand to 100,000 retail locations, leveraging organic growth and new distribution agreements

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q3 Revenue	Miss	$18.70 mln	$24.80 mln (2 Analysts)

Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the integrated telecommunications services peer group is "buy"
Wall Street's median 12-month price target for Surgepays Inc is $9.50, about 70% above its November 11 closing price of $2.85

Press Release: ID:nGNXc0Tn4J

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"dataReport","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.35.9","shortVersion":"4.35.9","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2582377969","isCrawlerRequest":true}