SurgePays, Inc. (SURG) Financial Statements (2024 and earlier)
Company Profile
| Business Address |
3124 BROTHER BLVD BARTLETT, TN 38133 |
| State of Incorp. | NV |
| Fiscal Year End | December 31 |
| Industry (SIC) | 4813 - Telephone Communications, Except Radiotelephone (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 7,036 | 6,283 | 674 | 346 | 445 | 216 | |||
| Cash and cash equivalents | 7,036 | 6,283 | 674 | 346 | 445 | 216 | |||
| Receivables | 9,230 | 3,250 | 393 | 3,071 | 397 | 56 | |||
| Inventory, net of allowances, customer advances and progress billings | 11,186 | 4,359 | 178 | ||||||
| Inventory | 11,186 | 4,359 | 178 | ||||||
| Prepaid expense | 112 | 6 | 97 | 11 | 48 | ||||
| Other undisclosed current assets | 61 | 2,208 | |||||||
| Total current assets: | 27,564 | 13,893 | 1,251 | 3,575 | 3,060 | 320 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 431 | 487 | 369 | 211 | ✕ | ✕ | |||
| Property, plant and equipment | 643 | 200 | 237 | 295 | 31 | 157 | |||
| Long-term investments and receivables | 177 | ||||||||
| Due from related parties | ✕ | 177 | |||||||
| Intangible assets, net (including goodwill) | 4,447 | 4,300 | 4,993 | 5,636 | 932 | 969 | |||
| Goodwill | 1,667 | 867 | 867 | 867 | 867 | 867 | |||
| Intangible assets, net (excluding goodwill) | 2,780 | 3,433 | 4,126 | 4,769 | 65 | 102 | |||
| Other noncurrent assets | 61 | 66 | |||||||
| Other undisclosed noncurrent assets | 918 | 443 | 415 | 204 | 61 | 1,700 | |||
| Total noncurrent assets: | 6,440 | 5,608 | 6,074 | 6,411 | 1,024 | 2,826 | |||
| TOTAL ASSETS: | 34,004 | 19,500 | 7,325 | 9,986 | 4,084 | 3,146 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities, including: | 5,784 | 6,603 | 5,590 | 3,638 | 3,104 | 482 | |||
| Interest and dividends payable | ✕ | ✕ | 2 | ||||||
| Accrued liabilities | |||||||||
| Other undisclosed accounts payable and accrued liabilities | 5,784 | 6,603 | 5,590 | 3,638 | 3,104 | 481 | |||
| Deferred revenue | 243 | ✕ | ✕ | ||||||
| Debt | 1,542 | 126 | 3,197 | 827 | 583 | 738 | |||
| Derivative instruments and hedges, liabilities | 1,358 | 191 | 51 | 93 | |||||
| Other liabilities | 383 | 449 | 395 | 337 | |||||
| Deferred revenue and credits | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 130 | ||
| Due to related parties | ✕ | 1,108 | 1,554 | 390 | 390 | ||||
| Other undisclosed current liabilities | 14,786 | 1,715 | 4,780 | 1,949 | 270 | 317 | |||
| Total current liabilities: | 23,464 | 9,998 | 15,307 | 7,054 | 4,792 | 2,486 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 53 | 1,444 | 1,276 | 2,325 | 680 | 52 | |||
| Long-term debt, excluding current maturities | 53 | 1,005 | 1,120 | 2,205 | 680 | 52 | |||
| Liabilities, other than long-term debt | 4,893 | 4,507 | |||||||
| Due to related parties | ✕ | 4,494 | 4,507 | ||||||
| Operating lease, liability | 399 | 439 | 155 | 120 | ✕ | ✕ | |||
| Other undisclosed noncurrent liabilities | 475 | 1,314 | 5,307 | 601 | |||||
| Total noncurrent liabilities: | 5,421 | 5,951 | 2,745 | 7,632 | 1,281 | 52 | |||
| Total liabilities: | 28,885 | 15,949 | 18,051 | 14,686 | 6,073 | 2,539 | |||
| Equity | |||||||||
| Equity, attributable to parent, including: | 4,991 | 3,551 | (10,726) | (4,700) | (1,988) | 607 | |||
| Preferred stock | 10 | ||||||||
| Common stock | 14 | 12 | 127 | 102 | 88 | 90 | |||
| Treasury stock, value | 1,069 | ||||||||
| Additional paid in capital | 40,781 | 38,662 | 10,725 | 6,055 | 334 | 9,584 | |||
| Accumulated deficit | (35,804) | (35,123) | (21,592) | (10,871) | (2,424) | (8,008) | |||
| Other undisclosed equity, attributable to parent | 0 | 14 | 14 | 14 | (2,138) | ||||
| Equity, attributable to noncontrolling interest | 128 | ||||||||
| Total equity: | 5,118 | 3,551 | (10,726) | (4,700) | (1,988) | 607 | |||
| TOTAL LIABILITIES AND EQUITY: | 34,004 | 19,500 | 7,325 | 9,986 | 4,084 | 3,146 | |||
Income Statement (P&L) ($ in thousands)
| 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 121,544 | 51,061 | 54,407 | 25,743 | 15,244 | 1,430 | ||
| Cost of revenue | (108,075) | (44,891) | (51,938) | (20,305) | (8,570) | (733) | ||
| Gross profit: | 13,469 | 6,170 | 2,469 | 5,437 | 6,674 | 697 | ||
| Operating expenses | (12,836) | (12,163) | (12,614) | (13,206) | (8,209) | (2,766) | ||
| Operating income (loss): | 634 | (5,993) | (10,146) | (7,768) | (1,535) | (2,069) | ||
| Nonoperating income (expense) (Other Nonoperating Income (Expense)) | (1,187) | (7,539) | (576) | (679) | 77 | 89 | ||
| Interest and debt expense | (400) | (38) | (50) | (7) | 15 | 1,000 | ||
| Income (loss) from continuing operations before equity method investments, income taxes: | (953) | (13,569) | (10,772) | (8,454) | (1,444) | (980) | ||
| Other undisclosed income (loss) from continuing operations before income taxes | 50 | 7 | (15) | (1,000) | ||||
| Income (loss) from continuing operations before income taxes: | (953) | (13,569) | (10,722) | (8,447) | (1,459) | (1,980) | ||
| Income tax expense (benefit) | (82) | |||||||
| Other undisclosed income from continuing operations | 3,041 | |||||||
| Income (loss) from continuing operations: | (953) | (13,569) | (10,722) | (8,447) | 1,500 | (1,980) | ||
| Income (loss) before gain (loss) on sale of properties: | ✕ | ✕ | (13,569) | (10,722) | (8,447) | 1,500 | (1,980) | |
| Other undisclosed net income | 400 | |||||||
| Net income (loss): | (553) | (13,569) | (10,722) | (8,447) | 1,500 | (1,980) | ||
| Net loss attributable to noncontrolling interest | (128) | |||||||
| Other undisclosed net income (loss) attributable to parent | 38 | (3,041) | ||||||
| Net income (loss) available to common stockholders, diluted: | (681) | (13,531) | (10,722) | (8,447) | (1,541) | (1,980) | ||
Comprehensive Income ($ in thousands)
| 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | (553) | (13,569) | (10,722) | (8,447) | 1,500 | (1,980) | ||
| Comprehensive income (loss): | (553) | (13,569) | (10,722) | (8,447) | 1,500 | (1,980) | ||
| Comprehensive loss, net of tax, attributable to noncontrolling interest | (128) | |||||||
| Comprehensive income (loss), net of tax, attributable to parent: | (681) | (13,569) | (10,722) | (8,447) | 1,500 | (1,980) | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.