SURG

SurgePays, Inc. (SURG) came out with quarterly earnings of $0.05 per share, beating the Zacks Consensus Estimate of a loss of $0.11 per share. This compares to a loss of $0.36 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +145.46%. A quarter ago, it was expected that this company would post a loss of $0.19 per share when it actually produced a loss of $0.51, delivering a surprise of -168.42%. Over the last four quarters, the company has surpassed consensus EPS estimates just once. SurgePays, Inc., which belongs to the Zacks Internet - Software industry, posted revenues of $16.21 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 17.43%. This compares to year-ago revenues of $11.52 million. The company has topped consensus revenue estimates two times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. SurgePays, Inc. shares have lost about 85.2% since the beginning of the year versus the S&P 500's gain of 13.9%. While SurgePays, Inc. has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for SurgePays, Inc. was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.08 on $18.7 million in revenues for the coming quarter and -$0.70 on $65 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Internet - Software is currently in the top 35% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. One other stock from the same industry, uCloudlink Group Inc. Sponsored ADR (UCL), is yet to report results for the quarter ended June 2026. The results are expected to be released on August 18. This company is expected to post quarterly loss of $0.05 per share in its upcoming report, which represents a year-over-year change of -350%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. uCloudlink Group Inc. Sponsored ADR's revenues are expected to be $20 million, up 3.2% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report SurgePays, Inc. (SURG) : Free Stock Analysis Report uCloudlink Group Inc. Sponsored ADR (UCL) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

American Superconductor (AMSC) came out with quarterly earnings of $0.16 per share, missing the Zacks Consensus Estimate of $0.2 per share. This compares to earnings of $0.29 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -20.00%. A quarter ago, it was expected that this wind turbine component maker would post earnings of $0.19 per share when it actually produced earnings of $0.3, delivering a surprise of +57.89%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. American Superconductor, which belongs to the Zacks Electronics - Miscellaneous Components industry, posted revenues of $94.07 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 8.82%. This compares to year-ago revenues of $72.36 million. The company has topped consensus revenue estimates three times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. American Superconductor shares have added about 16.2% since the beginning of the year versus the S&P 500's gain of 13%. While American Superconductor has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for American Superconductor was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.23 on $87.5 million in revenues for the coming quarter and $1.04 on $361.95 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Electronics - Miscellaneous Components is currently in the top 22% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. One other stock from the broader Zacks Computer and Technology sector, SurgePays, Inc. (SURG), is yet to report results for the quarter ended June 2026. This company is expected to post quarterly loss of $0.11 per share in its upcoming report, which represents a year-over-year change of +69.4%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. SurgePays, Inc.'s revenues are expected to be $13.8 million, up 19.8% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report American Superconductor Corporation (AMSC) : Free Stock Analysis Report SurgePays, Inc. (SURG) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

This article first appeared on GuruFocus. Revenue: $16 million, up approximately 51% year-over-year. Point-of-Sale and Prepaid Services Growth: Approximately 71% increase. General and Administrative Expenses: $3.5 million, down approximately 25% year-over-year. Loss from Operations: Approximately $11.2 million, compared to $7.6 million in the prior-year period. Interest Expense: Approximately $0.9 million, up from $0.1 million in the prior-year period. Net Loss: Approximately $12.1 million or $0.51 per share, compared to $7.6 million or $0.38 per share in the prior-year period. Net Cash Used in Operating Activities: Improved to approximately $4.6 million from $7 million in the prior-year period. Net Cash Provided by Financing Activities: Approximately $5 million. Cash and Cash Equivalents: Approximately $2 million at quarter end. Total Wireless Subscriber Lines: Surpassed 200,000 during the quarter. Retail Footprint: More than 9,000 convenience store locations nationwide. Warning! GuruFocus has detected 5 Warning Signs with SURG. Is SURG fairly valued? Test your thesis with our free DCF calculator. Release Date: May 15, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Revenue grew approximately 51% year-over-year to $16 million, driven by a 71% increase in point-of-sale and prepaid services. General and administrative expenses declined approximately 25% year-over-year, reflecting effective cost discipline. Total wireless subscriber lines across LinkUp Mobile and Torch Wireless brands surpassed 200,000, marking significant subscriber growth. The company successfully transitioned subscriber acquisition to an in-house growth marketing team, reducing cost per lead by 28% and cost per enrollment by 48%. Surgepays Inc (NASDAQ:SURG) launched new monetization channels, including a stored value and loyalty program and a managed marketing services platform, enhancing revenue streams. Loss from operations increased to approximately $11.2 million in the first quarter, compared to $7.6 million in the prior-year period. Interest expense rose significantly to approximately $0.9 million, reflecting increased financing activity. Net loss available to common stockholders was approximately $12.1 million, up from $7.6 million in the prior-year period. Despite revenue growth, the company still faces challenges in balancing revenue growth with cost of revenue and interest expenses. The company is still in the process of integrating new wholesale distribution partners, with initial volume contribution expected in the second quarter. Q: Congratulations on getting the 200,000 subscribers. What do you think the long-term subscriber target is? What is the market potential and how happy would you be to reach a certain level? A: Brian Cox, Chief Executive Officer: We aim to surpass the million subscriber mark, which would set us apart in the industry. We believe we can achieve this by leveraging our experience and the wholesale piece. Our internal target is a million subscribers under the LinkUp and Torch Wireless brands, but we aim to exceed that, especially with the growing subprime market. Q: Regarding the growing subprime market, what are you hearing from convenience store owners? Are they benefiting from this market expansion? A: Brian Cox, Chief Executive Officer: Convenience store owners are the financial nucleus of their communities. They benefit by offering value to consumers who are looking to save money. In financially tough times, consumers are more open to switching to cost-saving services, which benefits both the stores and our business. Q: Can you elaborate on the impact of transitioning subscriber acquisition to your in-house growth marketing team? A: Brian Cox, Chief Executive Officer: Transitioning to an in-house team has reduced our cost per lead by approximately 28% and cost per enrollment by 48%, while increasing our lead to enrollment conversion rate by 39%. This structural improvement in unit economics allows us to acquire customers more efficiently and cost-effectively. Q: What are the expected contributions from the new wholesale distribution partners? A: Brian Cox, Chief Executive Officer: We closed six new wholesale distribution partners, including three master agent agreements. These additions are expected to increase monthly prepaid top-up volume by approximately 30% once fully integrated, with initial volume contribution expected in the second quarter of 2026. Q: How do you plan to monetize the retail infrastructure further? A: Brian Cox, Chief Executive Officer: We launched a stored value and loyalty program and a managed marketing services platform, converting in-store smart TVs into a media network. These new revenue streams are layered onto our existing retail footprint, enhancing our monetization capabilities. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Cost discipline initiated in 2025 drove G&A expenses down approximately 25% Revenue growth was led by point of sale and prepaid services Total wireless subscriber lines surpassed 200,000 across LinkUp Mobile and Torch Wireless BARTLETT, Tenn., May 15, 2026 (GLOBE NEWSWIRE) -- SurgePays, Inc. (NASDAQ: SURG), a fintech and mobile virtual network operator serving the approximately 138 million subprime consumers in the United States, today reported its financial results for the quarter ended March 31, 2026. “The first quarter of 2026 is the quarter where the diversification work of the last twelve months becomes visible in the numbers,” said Brian Cox, Chief Executive Officer of SurgePays. “Revenue grew approximately 51% year-over-year, driven by an approximately 71% increase in point of sale and prepaid services. Additionally, the cost discipline we set in motion in 2025 reached our G&A line, which declined approximately 25% year-over-year.” First Quarter and Subsequent Operational Highlights Wireless Subscriber Growth Total wireless subscriber lines surpassed 200,000 across the Company’s LinkUp Mobile and Torch Wireless brands, reflecting continued momentum in the prepaid wireless business. Initiated a buy one get one promotional campaign to drive subscriber growth and increase market penetration. Customer Acquisition Engine Reduced cost per lead in the Company’s subscriber acquisition channel by approximately 28%, with cost-per-enrollment down approximately 48% and lead-to-enrollment conversion up approximately 39%, following the transition of subscriber acquisition to an in-house growth marketing team. Continued to scale ProgramBenefits.com as a unified intake and decisioning platform and as a monetization layer for the subscriber base, with internal upsell, top-up cross-sell, affiliate offers, and data partnership initiatives now contributing revenue that partially offsets acquisition cost. Wholesale Distribution Expansion Closed six new wholesale distribution partners during the period, consisting of three Master Agent agreements covering an aggregate of more than 3,000 retail locations under contract and three independent sales organization agreements, with onboarding underway and initial volume contribution expected during the second quarter of 2026. The independent sales organization additions are expected to lift monthly prepaid top-up volume on the Company’s distribution platform by approximately 30% once fully integrated, with the Master Agent locations contributing incremental LinkUp Mobile activation volume as stores come online. Retail Infrastructure Monetization Launched a fully integrated stored value and loyalty platform, enabling merchants to offer branded gift cards, store credit, and loyalty programs through the SurgePays point of sale system. Deployed the Company’s Managed Marketing Services platform, enabling third party brand messaging through the SurgePays point of sale network and introducing an additional monetization layer. Strategic Partnerships and Platform Continued to advance the previously announced strategic relationship with Alpha Modus Holdings, Inc. (NASDAQ: AMOD), originally entered into under a Letter of Intent, via ongoing negotiations throughout the quarter toward a definitive multiyear commercial integration framework. Executed signed wholesale contracts with multiple MVNO and MVNE customers on the HERO Wireless platform, with counterparties at various stages of technical integration through API connectivity and one customer having taken delivery of custom SIM cards in advance of launch. The Company expects initial customer rollouts on the HERO platform during the second quarter of 2026, with wholesale wireless revenue contribution anticipated to be reflected in third quarter 2026 results. Advanced a real time AI decisioning platform built on ProgramBenefits.com and the Company’s nationwide retail network, designed to expand each customer interaction into a multi-product revenue opportunity across wireless, financial services, and other essential offerings. First Quarter 2026 Financial Highlights Revenue of approximately $16.0 million, up 51% year-over-year from approximately $10.6 million in the prior year period, driven primarily by an approximately 71% increase in point of sale and prepaid services. General and administrative expenses declined approximately 25% to approximately $3.5 million, compared to approximately $4.6 million in the prior year period, reflecting the cost discipline initiated in 2025. Net cash used in operating activities improved to approximately $4.6 million, compared to approximately $7.0 million in the prior year period. Loss from operations totaled approximately $11.2 million, compared to approximately $7.6 million in the prior year period, primarily reflecting increased interest expense and non-cash items. Net loss available to common stockholders totaled approximately $12.1 million, compared to approximately $7.6 million in the prior year period. Cash and cash equivalents were approximately $2.0 million at March 31, 2026. Total cash, cash equivalents and restricted cash were approximately $2.4 million at quarter end. Subsequent EventsOn May 1, 2026, subsequent to quarter end, the Company entered into a multiyear Commercial Integration and Distribution Agreement with Alpha Modus Holdings, Inc. (NASDAQ: AMOD). On May 12, 2026, the Company and Alpha Modus announced the launch of a 25,000 Activation Pilot to integrate the Alpha Cash mobile wallet across the SurgePays distribution surface, as previously announced. “Today, SurgePays operates with multiple revenue channels. Total wireless subscriber lines across LinkUp Mobile and Torch Wireless surpassed 200,000, alongside our wholesale wireless platform relationships and our point-of-sale fintech and data platforms,” Mr. Cox continued. “With an established retail footprint of more than 9,000 locations, a customer acquisition engine through ProgramBenefits.com, additional monetization initiatives such as our Managed Marketing Services platform and our newly launched stored value and loyalty platform, and the multiyear Commercial Integration and Distribution Agreement we entered into with Alpha Modus subsequent to quarter end, we are positioned to monetize each consumer relationship across multiple revenue streams rather than just one. That is the compounding model, and Q1 is the first quarter where you can see it forming.” First Quarter 2026 Financial Results Conference Call Date: Friday, May 15, 2026Time: 11:00 a.m. Eastern TimeDial in: 1 888 506 0062Access code: 276693Webcast: ir.surgepays.com/company events A replay will be available on the SurgePays investor relations website following the call. About SurgePays, Inc.SurgePays, Inc. (NASDAQ: SURG) is a fintech and mobile virtual network operator (MVNO) that delivers prepaid wireless and financial products to the approximately 138 million subprime consumers in the United States. Through its proprietary point-of-sale platform deployed across approximately 9,000 convenience stores and a growing Retail Media Network, SurgePays enables retailers to offer wireless activations, top-ups, and consumer financial services. The Company’s subsidiaries include LinkUp Mobile, Torch Wireless, the HERO mobile virtual network enabler (MVNE) platform, and the ProgramBenefits.com platform, which is being built to incorporate AI-driven decisioning across the financial and benefit products it offers. SurgePays is headquartered in Bartlett, TN. Learn more at www.surgepays.com and ir.surgepays.com. Cautionary Note Regarding Forward Looking StatementsThis press release includes express or implied statements that are not historical facts and are considered forward looking within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve substantial risks and uncertainties and generally relate to future events or the Company’s future financial or operating performance. These statements may include projections, guidance, or other estimates regarding revenue, cash flow, business growth, market expansion, or customer acquisition, and statements regarding subscriber growth, distribution expansion, and operating scale. In some cases, you can identify forward looking statements by words such as may, will, could, would, should, expect, intend, plan, anticipate, believe, estimate, predict, project, potential, continue, or similar terminology. Although the Company believes the expectations reflected in these forward-looking statements are reasonable, they involve known and unknown risks and uncertainties that may cause actual results to differ materially from those described in the forward-looking statements. These risks include, but are not limited to, the Company’s ability to scale its prepaid wireless business, maintain retail distribution relationships, expand its merchant platform, and achieve anticipated subscriber growth. Additional information regarding these and other risks can be found in the Company’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. The forward-looking statements in this press release speak only as of the date they are made, and the Company undertakes no obligation to update them except as required by law. Investor Relations ContactValter Pinto, Managing DirectorKCSA Strategic [email protected] | 212.896.1254 SurgePays, Inc. and Subsidiaries, Consolidated Balance Sheets SurgePays, Inc. and Subsidiaries, Consolidated Statements of Operations (Unaudited) SurgePays, Inc. and Subsidiaries, Consolidated Statements of Cash Flows (Unaudited)

Docebo Inc. (DCBO) came out with quarterly earnings of $0.34 per share, beating the Zacks Consensus Estimate of $0.33 per share. This compares to earnings of $0.27 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +2.01%. A quarter ago, it was expected that this company would post earnings of $0.33 per share when it actually produced earnings of $0.45, delivering a surprise of +36.36%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. Docebo, which belongs to the Zacks Internet - Software industry, posted revenues of $65.62 million for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 0.19%. This compares to year-ago revenues of $57.3 million. The company has topped consensus revenue estimates four times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Docebo shares have lost about 5.6% since the beginning of the year versus the S&P 500's gain of 7.2%. While Docebo has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Docebo was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #1 (Strong Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.36 on $66.81 million in revenues for the coming quarter and $1.69 on $271.07 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Internet - Software is currently in the top 37% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. One other stock from the same industry, SurgePays, Inc. (SURG), is yet to report results for the quarter ended March 2026. This company is expected to post quarterly loss of $0.16 per share in its upcoming report, which represents a year-over-year change of +57.9%. The consensus EPS estimate for the quarter has been revised 1600% lower over the last 30 days to the current level. SurgePays, Inc.'s revenues are expected to be $13.2 million, up 24.8% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Docebo Inc. (DCBO) : Free Stock Analysis Report SurgePays, Inc. (SURG) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Affirm Holdings (AFRM) came out with quarterly earnings of $0.3 per share, beating the Zacks Consensus Estimate of $0.17 per share. This compares to earnings of $0.01 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +79.53%. A quarter ago, it was expected that this operator of digital commerce platform would post earnings of $0.28 per share when it actually produced earnings of $0.37, delivering a surprise of +32.14%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. Affirm Holdings, which belongs to the Zacks Internet - Software industry, posted revenues of $1.04 billion for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 4.09%. This compares to year-ago revenues of $783.14 million. The company has topped consensus revenue estimates four times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Affirm Holdings shares have lost about 11.9% since the beginning of the year versus the S&P 500's gain of 7.6%. While Affirm Holdings has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Affirm Holdings was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.29 on $1.08 billion in revenues for the coming quarter and $1.08 on $4.14 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Internet - Software is currently in the top 38% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Another stock from the same industry, SurgePays, Inc. (SURG), has yet to report results for the quarter ended March 2026. This company is expected to post quarterly loss of $0.16 per share in its upcoming report, which represents a year-over-year change of +57.9%. The consensus EPS estimate for the quarter has been revised 1600% lower over the last 30 days to the current level. SurgePays, Inc.'s revenues are expected to be $13.2 million, up 24.8% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Affirm Holdings, Inc. (AFRM) : Free Stock Analysis Report SurgePays, Inc. (SURG) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

F5 Networks (FFIV) came out with quarterly earnings of $3.9 per share, beating the Zacks Consensus Estimate of $3.47 per share. This compares to earnings of $3.42 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +12.44%. A quarter ago, it was expected that this computer networking company would post earnings of $3.64 per share when it actually produced earnings of $4.45, delivering a surprise of +22.25%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. F5, which belongs to the Zacks Internet - Software industry, posted revenues of $811.7 million for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 3.49%. This compares to year-ago revenues of $731.12 million. The company has topped consensus revenue estimates four times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. F5 shares have added about 16.6% since the beginning of the year versus the S&P 500's gain of 4.8%. While F5 has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for F5 was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $3.85 on $814.98 million in revenues for the coming quarter and $15.91 on $3.26 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Internet - Software is currently in the top 32% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Another stock from the same industry, SurgePays, Inc. (SURG), has yet to report results for the quarter ended March 2026. This company is expected to post quarterly loss of $0.16 per share in its upcoming report, which represents a year-over-year change of +57.9%. The consensus EPS estimate for the quarter has been revised 1600% lower over the last 30 days to the current level. SurgePays, Inc.'s revenues are expected to be $13.2 million, up 24.8% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report F5, Inc. (FFIV) : Free Stock Analysis Report SurgePays, Inc. (SURG) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Reduced Cash Burn and Expansion Across Multiple Revenue Channels Support a More Efficient Growth Model BARTLETT, Tenn., April 14, 2026 (GLOBE NEWSWIRE) -- SurgePays, Inc. (NASDAQ: SURG) (“SurgePays” or the “Company”), a wireless and fintech technology company connecting subprime and underserved consumers to essential mobile and financial services, today reported its financial results for the year ended December 31, 2025. Brian Cox, President and CEO of SurgePays, stated, “2025 was a year where we demonstrated the scalability of our platform and repositioned the business for more disciplined growth. We delivered steady sequential revenue growth through the first three quarters, increasing from approximately $10.6 million in Q1 to $11.5 million in Q2, and reaching $18.7 million in Q3. That third quarter demonstrated how quickly we can scale when capital is deployed into subscriber growth.” Mr. Cox continued, “In Q3, we deployed capital into subscriber acquisition and saw a clear step-function increase in revenue. In Q4, we reduced that level of spend to prioritize capital efficiency. While revenue declined sequentially from Q3, it remained significantly higher than the fourth quarter of 2024. The key takeaway is that we have demonstrated both the ability to scale and discipline to manage that growth.” “Equally important, we materially improved our cost structure. Total general and administrative expenses declined to approximately $20.1 million in 2025 from $27.5 million in 2024. Q4 included items that are not indicative of our current operating run rate, including legal and certain non-cash expenses. Since year end, we have taken additional actions to reduce operating expenses. Based on those actions, we estimate our current monthly cash burn at the end of the first quarter of 2026 to be approximately $250,000 to $300,000.” Mr. Cox added, “Today, SurgePays is operating with multiple revenue channels, including government-subsidized wireless, LinkUp Mobile prepaid, wholesale MVNE relationships, and our point-of-sale fintech and data platforms. We are no longer dependent on a single program. With an established retail footprint of more than 9,000 locations, a customer acquisition engine through ProgramBenefits.com, and additional monetization initiatives such as our Managed Marketing Services platform, we are positioned to grow in a more controlled and capital efficient way.” Full Year 2025 Operational Highlights: Repositioned the business following the conclusion of the Affordable Connectivity Program, expanding across multiple revenue channels, including wireless, wholesale, and fintech solutions. Generated $13.5 million in MVNO revenue, representing approximately 24% of total revenue for the year. Completed integration with the AT&T best-in-class network, strengthening network performance and service quality. Launched LinkUp Mobile nationwide, expanding prepaid wireless offerings and contributing to growth in the Point-of-Sale and Prepaid Services segment, which generated approximately $43.5 million, or approximately 76% of total revenue. Continued expansion of the Company’s retail distribution network, supporting wireless activations and fintech transactions across more than 9,000 locations. Advanced MVNE platform capabilities, supporting wholesale wireless enablement opportunities. Launched ProgramBenefits.com, establishing a scalable digital channel for customer acquisition and monetization beyond wireless services. Executed cost optimization initiatives, reducing general and administrative expenses by approximately 28% year over year. Subsequent Operational Highlights: LinkUp Mobile surpassed 100,000 subscriber lines, reflecting continued momentum in the Company’s prepaid wireless business. Expanded digital acquisition initiatives through ProgramBenefits.com. Deployed the Company’s Managed Marketing Services platform, enabling in-store digital advertising and introducing an additional monetization layer. Initiated buy-one-get-one promotional campaign to drive subscriber growth and increase market penetration. Entered into a strategic partnership with Alpha Modus to expand distribution of fintech and consumer engagement solutions. Launched a fully integrated stored value and loyalty platform, enabling merchants to offer branded gift cards, store credit, and loyalty programs through the SurgePays point-of-sale system. Full Year 2025 Financial Highlights: Revenue totaled approximately $57.0 million, compared to $60.9 million in 2024, reflecting the expected impact from the conclusion of the Affordable Connectivity Program in mid-2024 and the Company’s transition to a more diversified revenue model. Gross loss improved to approximately $(10.6) million, compared to $(14.3) million in 2024. Total general and administrative expenses declined to approximately $20.1 million, compared to $27.5 million in 2024. Operating loss improved to approximately $(30.7) million, compared to $(41.8) million in 2024. Fourth Quarter and Full Year 2025 Financial Results Conference Call Date: Tuesday, April 14, 2026 Time: 5:00 p.m. ET Dial-in Number: 1-888-506-0062 Access Code: 395490 Webcast: https://ir.surgepays.com/company-events Replay of the webcast will be available for a one year period. About SurgePays, Inc. SurgePays, Inc. (NASDAQ: SURG) is a wireless and fintech technology company focused on expanding access to essential mobile and financial services for subprime and underserved consumers. The Company operates a nationwide ecosystem that includes its own wireless brands and a proprietary point of sale platform inside thousands of retail locations. This infrastructure supports SIM activations, top-ups, financial transactions, and other digital services used daily by prepaid and underbanked customers. SurgePays is building on this foundation by expanding into data driven marketing and digital partnerships that monetize verified consumer engagement and increase revenue per retail location. The Company’s strategy is to build an integrated platform that serves as the operating system for independent retailers while creating recurring revenue streams across wireless, fintech, digital marketing, and stored value programs. Visit www.SurgePays.com for more information. SurgePays Cautionary Note Regarding Forward-Looking Statements This press release includes express or implied statements that are not historical facts and are considered forward-looking within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act. Forward-looking statements involve substantial risks and uncertainties and generally relate to future events or our future financial or operating performance. These statements may include projections, guidance, or other estimates regarding revenue, cash flow, business growth, market expansion, or customer acquisition, and statements regarding subscriber growth, distribution expansion, and operating scale. In some cases, you can identify forward-looking statements by words such as “may,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” or similar terminology. Although we believe the expectations reflected in these forward-looking statements are reasonable, they involve known and unknown risks and uncertainties that may cause actual results to differ materially from those described in the forward-looking statements. These risks include, but are not limited to, our ability to scale our prepaid wireless business, maintain retail distribution relationships, expand our merchant platform, and achieve anticipated subscriber growth. Additional information regarding these and other risks can be found in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the fiscal year ended December 31, 2024. The forward-looking statements in this press release speak only as of the date they are made, and the Company undertakes no obligation to update them except as required by law. Investor Contact: Valter Pinto Managing Director KCSA Strategic Communications 212.896.1254 [email protected]

Management characterized 2025 as a transition year focused on resetting the corporate foundation after the expiration of the Affordable Connectivity Program (ACP). The 2025 fiscal year served as a strategic inflection point, proving that the company can scale revenue quickly when capital is deployed. Fourth-quarter revenue decline was a deliberate result of management pulling back on acquisition spend to prioritize capital discipline and operational efficiency. The company has successfully diversified away from single-program reliance, now operating across government-subsidized wireless, LinkUp Mobile prepaid, wholesale MVNE, and fintech platforms. Operational improvements led to a reduction in total general and administrative expenses from approximately $27.5 million in 2024 to $20.1 million in 2025. Management attributes the current business strength to an established retail footprint of over 9,000 locations and a proprietary digital customer acquisition engine. The company enters 2026 with a significantly leaner cost structure, estimating a monthly cash burn of approximately $250,000 to $300,000 by the end of Q1 2026. Strategic focus is shifting toward LinkUp Mobile, with management expecting this prepaid wireless segment to become a significant driver of cash flow and revenue. Management intends to replicate the rapid scaling seen during the ACP period but with a more durable foundation of multiple independent revenue streams. Future growth is expected to be driven by deploying capital into proven acquisition channels while maintaining a focus on improving underlying unit economics. The company anticipates continued improvement in gross margins as it scales higher-margin revenue streams and benefits from the restructured cost base. Q4 2025 SG&A included approximately $2.3 million in nonrecurring expenses, primarily related to legal costs and non-cash items that do not reflect the ongoing run rate. The company reported a working capital deficit of approximately $16.2 million at year-end 2025, a shift from the prior year's surplus due to post-ACP liability timing. Management acknowledged market concerns regarding capital and execution, stating their focus is now on 'showing, not telling' through disciplined expense management. Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Management identified LinkUp Mobile as the most exciting growth driver, noting that the team has successfully built the prepaid MVNO from scratch. While traction in the dealership market is a 'grind,' management expects significant numbers to emerge as they expand point-of-sale materials and dealer training. Teased upcoming 'exciting news' regarding LinkUp Mobile thresholds that have not yet been fully crossed. Management noted that while the lowest-income segment is often insulated by government essential services, the 'subprime' market is currently feeling an economic squeeze. Difficult economic times historically serve as a catalyst for SurgePays, as consumers become more price-aware and seek better value than legacy $40/month wireless plans. The company views the current high-cost environment as an opportunity to capture market share from competitors by offering $30/month alternatives. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here.

This article first appeared on GuruFocus. Total Revenue (2025): Approximately $57 million, down from $60.9 million in 2024. Q4 Revenue (2025): $16.2 million. Revenue Growth (Q1-Q3 2025): Increased from $10.6 million in Q1 to $11.5 million in Q2, reaching $18.7 million in Q3. General and Administrative Expense (2025): Declined to approximately $20.1 million from $27.5 million in 2024. Net Loss from Operations (2025): Approximately $30.7 million, improved from $41.8 million in 2024. Net Cash Used in Operating Activities (2025): Approximately $21.3 million. Net Cash Provided by Financing Activities (2025): Approximately $10.5 million. Cash at Year-End (2025): Approximately $1.7 million. Working Capital Deficit (2025): Approximately $16.2 million, compared to a surplus of $11.8 million in 2024. SG&A Non-Recurring Expenses (Q4 2025): Approximately $2.3 million. Retail Footprint: More than 9,000 locations. Monthly Cash Burn (End of Q1 2026): Estimated at $250,000 to $300,000. Warning! GuruFocus has detected 5 Warning Signs with SURG. Is SURG fairly valued? Test your thesis with our free DCF calculator. Release Date: April 14, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Surgepays Inc (NASDAQ:SURG) generated approximately $57 million in revenue for the full year 2025, demonstrating steady growth from Q1 to Q3. The company successfully reduced total general and administrative expenses to approximately $20.1 million from $27.5 million in 2024. Surgepays Inc (NASDAQ:SURG) has diversified its revenue streams, including government-subsidized wireless, LinkUp Mobile prepaid, wholesale MVNE relationships, and point-of-sale fintech and data platforms. The company has established a retail footprint of more than 9,000 locations, enhancing its customer acquisition capabilities. Surgepays Inc (NASDAQ:SURG) has taken actions to reduce operating expenses, resulting in a current monthly cash burn of approximately $250,000 to $300,000, reflecting a more disciplined operating model. Revenue for 2025 decreased to $57 million from $60.9 million in 2024, primarily due to the expiration of the Affordable Connectivity Program. The company reported a net loss from operations of approximately $30.7 million for 2025, although this was an improvement from the previous year. Surgepays Inc (NASDAQ:SURG) ended 2025 with a working capital deficit of approximately $16.2 million, compared to a surplus of $11.8 million at the end of 2024. The fourth quarter included approximately $2.3 million of non-recurring expenses, which impacted the company's financial performance. Despite improvements, the company still faces challenges in scaling higher margin revenue streams and improving gross margins. Q: What should investors be most excited about in terms of SurgePays' products driving revenue this year? A: Kevin Cox, CEO, highlighted that LinkUp Mobile is performing well and is expected to be a significant revenue driver. The company has been building its MVNO prepaid wireless business from scratch, focusing on dealership relationships and point-of-sale materials. There is anticipation of exciting developments with LinkUp Mobile in the coming months. Q: How are convenience store operators, who serve underserved markets, perceiving the current economy, and how are their customers responding? A: Kevin Cox, CEO, explained that the subprime market, which SurgePays targets, is less affected by economic downturns as essential services are often government-supported. However, as the company expands into the broader subprime market, they notice that economic difficulties make consumers more value-conscious, presenting an opportunity for SurgePays to offer better value alternatives like LinkUp Mobile. Q: Can you provide more details on the financial performance and cost management strategies for 2025? A: Chelsea Pullano, Interim CFO, reported that total revenue for 2025 was approximately $57 million, with a decline in subsidized revenue due to the expiration of the Affordable Connectivity Program. However, there was strong performance in point-of-sale and prepaid services. The company reduced operating expenses significantly, with a focus on improving margins and driving growth across core revenue channels. Q: What actions has SurgePays taken to improve its financial position and efficiency moving into 2026? A: Kevin Cox, CEO, stated that the company ended 2025 with $1.7 million in cash and has since taken steps to reduce operating expenses and improve efficiency. The current monthly cash burn is estimated at $250,000 to $300,000, reflecting a more disciplined operating model. The focus is on deploying capital efficiently to drive growth. Q: How does SurgePays plan to leverage its diversified revenue streams for future growth? A: Kevin Cox, CEO, emphasized that SurgePays has multiple independent revenue streams, including government-subsidized wireless, LinkUp Mobile prepaid, and wholesale MVNE relationships. The company plans to deploy capital into growth while improving the underlying economics of the business, leveraging its established retail footprint and customer acquisition engine. For the complete transcript of the earnings call, please refer to the full earnings call transcript.