SurgePays Reports Q2 2026 Revenue Growth of 40.7% Year-Over-Year to $16.2 Million, Reports Positive Net Income of $1.29 Million

SurgePays Reports Q2 2026 Revenue Growth of 40.7% Year-Over-Year to $16.2 Million, Reports Positive Net Income of $1.29 Million First Half Revenue Grew 45.7% to $32.19 Million While G&A Declined 9.3%

Sixth Consecutive Quarter of Sequential Revenue Growth; Company Expects Continued Momentum in Q3

BARTLETT, Tenn., Aug. 14, 2026 (GLOBE NEWSWIRE) -- SurgePays, Inc. (NASDAQ: SURG), a fintech and wireless company, today announced its financial results for the second quarter ended June 30, 2026.

"Q2 2026 marks our return to GAAP profitability, with net income available to common stockholders of $1.29 million and strong revenue growth under our new multi-channel revenue structure. Revenue of $16.20 million was 40.7% above the same quarter a year ago, and first half 2026 revenue reached $32.19 million, a 45.7% increase over the first half of 2025," said Brian Cox, Chief Executive Officer of SurgePays.

Q2 2026 Financial Highlights

"Over the past 2 years we have actively built a diversified, multi-channel revenue architecture for our business to be supported by multiple independent revenue streams. Our internal models show we are still in the early growth stages of each channel," continued Mr. Cox. "Q2 reflects the initial results of the platforms, integrations, and systems we have been building. As we look to Q3 and the balance of 2026, we expect to benefit from our first full quarter under the renegotiated AT&T agreement, continued growth across each of our sales channels, and what we anticipate being our seventh consecutive quarter of sequential revenue growth."

Subsequent Events

On August 5, 2026, the Company announced the formation of Redline Wireless Group, LLC, a joint venture with one of the largest wireless master distribution organizations in the United States, encompassing an executed dealer agreement footprint of more than 20,000 active independent prepaid wireless dealers. The new venture is expected to be cash flow positive in its first months of operations.

On August 11, 2026, the Company announced continued growth in its smartphone rent-to-own program with All Prepaid, LLC, dba LowWeeklyPayments ("LWP"). Retailer sales through the program reached approximately $176,000 in July, a 23% increase over June sales of $142,725. Based on this performance, the Company has initiated discussions with LWP regarding a potential joint venture to support the program's continued expansion.

About SurgePays

SurgePays, Inc. (NASDAQ: SURG) is a wireless and fintech company operating four verticals: LinkUp Mobile in prepaid wireless, Torch in subsidized wireless, HERO MVNE providing wholesale wireless services and joint ventures with other operators, and the SurgePays POS platform enabling 3rd party transactions at the register across a nationwide network of independent retailers. The company's edge comes from four assets that compound together: favorable wireless economics under the restructured carrier agreements, a proprietary technology platform spanning wireless and POS, a nationwide independent retail footprint, and a highly trained 150 seat bilingual service center in El Salvador. The same combination that drives SurgePays' organic growth also makes the company a turnkey partner for distributors, wireless operators, and joint venture counterparties who want to plug in and scale. Learn more at www.surgepays.com and ir.surgepays.com.

Forward Looking Statements

This press release contains forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward looking statements include, without limitation, statements regarding the Company's expected sales growth across its channels, the Company's ability to extend sequential revenue growth, the Company's platform scaling, and other statements that are not historical facts. Forward looking statements are based on management's current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results to differ materially. Factors that could cause actual results to differ include, without limitation, the Company's ability to scale subscriber count, the terms and performance of MVNE partnerships, regulatory changes affecting subsidized wireless programs and universal service programs, changes in consumer demand, competitive dynamics in prepaid wireless and retail platform services, and the additional risk factors described in the Company's filings with the Securities and Exchange Commission, including the most recent Annual Report on Form 10 K and subsequent Quarterly Reports on Form 10 Q. Forward looking statements speak only as of the date of this release. The Company disclaims any obligation to update forward looking statements, except as required by law.

Investor Relations Contact

SurgePays, Inc.

ir@surgepays.com

Company Contact

SurgePays, Inc.

3124 Brother Blvd., Suite 104

Bartlett, TN 38133

www.surgepays.com

The accompanying notes are an integral part of these unaudited consolidated financial statements.