SurgePays, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
August 12, 2022 at 01:33 am IST
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SurgePays, Inc. reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported sales was USD 28.01 million compared to USD 11.38 million a year ago. Net loss was USD 0.973037 million compared to USD 0.213976 million a year ago.
For the six months, sales was USD 49.15 million compared to USD 22.37 million a year ago. Net loss was USD 2.19 million compared to USD 5.03 million a year ago. Basic loss per share from continuing operations was USD 0.18 compared to USD 1.73 a year ago.
SurgePays, Inc. is a technology and telecommunications company, which is focused on the underbanked and underserved communities. The Company provides mobile broadband to low-income consumers nationwide. Its segments include Mobile Virtual Network Operators, Comprehensive Platform Services and Lead Generation. Mobile Virtual Network Operators segment provides mobile broadband (internet connectivity), voice and SMS text messaging to both subsidized and direct retail prepaid customers through its subsidiaries, SurgePhone Wireless, LLC and Torch Wireless, LLC. Comprehensive Platform Services segment provides financial technology and a wireless top-up platform to independently owned convenience stores throughout the country via its subsidiaries, SurgePays Fintech, ECS Prepaid, LLC, Electronic Check Services, Inc. and Central States Legal Services, Inc. Lead Generation segment provides lead generation and case management solutions, primarily to the law firms in the mass tort industry.