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)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments5,1888,8627,0367,8928,7053,443
Cash and cash equivalents5,1888,8627,0367,8928,7053,443
Receivables10,2899,6609,2309,4678,3235,644
Inventory, net of allowances, customer advances and progress billings18,08715,52211,1869,4925,6763,076
Inventory18,08715,52211,1869,4925,6763,076
Prepaid expense16817011213244239
Total current assets:33,73234,21427,56426,98422,74712,402
Noncurrent Assets
Operating lease, right-of-use asset410421431442452463
Property, plant and equipment503573643747887204
Intangible assets, net (including goodwill)4,1204,2834,4474,6104,7744,137
Goodwill1,6671,6671,6671,6671,667867
Intangible assets, net (excluding goodwill)2,4532,6172,7802,9433,1073,270
Other undisclosed noncurrent assets1,1791,076918578630595
Total noncurrent assets:6,2116,3536,4406,3776,7445,399
TOTAL ASSETS:39,94340,56734,00433,36129,49117,801
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including: 5,4237,2035,78413,67111,2935,645
Other undisclosed accounts payable and accrued liabilities 5,4237,2035,78413,67111,2935,645
Deferred revenue437132431,897108 
Debt  1,1321,5426,6806,622461
Due to related parties1,1081,0861,0861,086
Other undisclosed current liabilities13,00916,59914,7863,5972,2231,724
Total current liabilities:18,47625,64723,46426,93021,3318,917
Noncurrent Liabilities
Long-term debt and lease obligation  4,026539921,0131,555
Long-term debt, excluding current maturities  4,026535825941,126
Liabilities, other than long-term debt3783894,8934,9744,9744,974
Due to related parties4,4944,9744,9744,974
Operating lease, liability378389399410420429
Other undisclosed noncurrent liabilities4,524524475   
Total noncurrent liabilities:4,9024,9395,4215,9665,9876,529
Total liabilities:23,37830,58628,88532,89727,31815,446
Equity
Equity, attributable to parent, including:16,3489,8544,9916322,1242,387
Common stock141414121212
Additional paid in capital41,62541,09740,78139,46839,42038,711
Accumulated deficit(25,292)(31,258)(35,804)(38,849)(37,309)(36,336)
Other undisclosed equity, attributable to parent    000
Equity, attributable to noncontrolling interest218127128(168)48(33)
Total equity:16,5659,9815,1184642,1722,355
TOTAL LIABILITIES AND EQUITY:39,94340,56734,00433,36129,49117,801

Income Statement (P&L) ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Revenues35,88634,77636,22636,17128,00521,141
Cost of revenue(25,861)(27,082)(29,502)(34,251)(25,814)(18,508)
Gross profit:10,0267,6946,7241,9212,1912,634
Operating expenses(3,823)(2,989)(3,180)(2,933)(3,039)(3,684)
Operating income (loss):6,2034,7053,544(1,012)(848)(1,050)
Nonoperating expense(146)(159)(204)(796)(9)(195)
Investment income, nonoperating    (52)36(25)
Other nonoperating expense(146)(159)(204)(744)(44) 
Interest and debt expense(156)(400) (634)(567)(176)
Income (loss) from continuing operations:5,9014,1463,340(2,442)(1,423)(1,420)
Loss before gain (loss) on sale of properties:(2,442)(1,423)(1,420)
Other undisclosed net income156400 686531176
Net income (loss):6,0574,5463,340(1,756)(892)(1,245)
Net income (loss) attributable to noncontrolling interest(91)1(295)216(81)33
Net income (loss) available to common stockholders, diluted:5,9664,5463,045(1,540)(973)(1,212)

Comprehensive Income ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Net income (loss):6,0574,5463,340(1,756)(892)(1,245)
Comprehensive income (loss):6,0574,5463,340(1,756)(892)(1,245)
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(91)1(295)216(81)33
Comprehensive income (loss), net of tax, attributable to parent:5,9664,5463,045(1,540)(973)(1,212)

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.

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