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

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

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(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.)