What is the 13F Pro Quality Score for SURG?

13F Pro ranks SurgePays, Inc. (SURG) on the 13F Pro Quality Score, a 0–100 composite of 32 fundamental signals including return on invested capital, free cash flow consistency, balance-sheet strength, earnings quality, growth durability, and valuation discipline. The score refreshes after each 10-K and 10-Q filing on SEC EDGAR. View SURG's current score at https://13fpro.ai/research/SURG (free sign-up required for the full ranking).

Where does 13F Pro source SURG data?

All SurgePays, Inc. fundamentals and ownership data come directly from SEC EDGAR. SurgePays, Inc. files with the SEC under CIK 1392694. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

What sector is SURG in?

SurgePays, Inc. (SURG) is classified in the Communication Services sector. 13F Pro publishes sector-level fund flow analysis and quality leaders at https://13fpro.ai/research/sector/communication-services.

How often is SURG research updated on 13F Pro?

SURG's fundamentals refresh within hours of each new 10-K or 10-Q filing on SEC EDGAR. Institutional ownership updates after each quarterly 13F filing window. Insider transactions update after each Form 4 filing. The 13F Pro Quality Score recalculates after every fundamentals refresh.

SurgePays, Inc.(SURG)Stock Analysis

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Communication Services →Nasdaq

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SEC EDGAR: CIK 1392694 SURG stock profile & AI dashboard →

13F Pro Quality Score

10.5/100

Rank #2,807 of 2,879 stocks

View Communication Services peers →

Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Aug 14, 2026.

Revenue Growth

2.6/100

Profitability

9.4/100

Balance Sheet

0.1/100

Earnings Quality

30.0/100

Free Cash Flow

10.5/100

Institutional Flow

29.2/100

Revenue Scale

12.4/100

Dilution Risk

33.8/100

SURG Stock Analysis & AI Quality Score

AI stock analysis and institutional research for SurgePays, Inc. (SURG), a Communication Services sector company. 13F Pro's AI-powered ranking engine scores SURG at 10.5/100 on a 32-signal composite quality model, placing it at rank #2,807 of 2,879 stocks — the bottom half of the AI-ranked universe. Areas of concern include balance sheet strength (0.1) and revenue growth (2.6), which score below median versus the broader universe. Shareholder dilution risk is elevated at 33.8/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q1 2026), SurgePays, Inc. reports quarterly revenue of $16.0M, net income of $-12.1M, an operating margin of -70.1%. Top institutional holders of SURG by reported 13-F value include VANGUARD CAPITAL MANAGEMENT, Gaddis Premier Wealth Advisors, GEODE CAPITAL MANAGEMENT,, based on the most recent SEC filings. SURG trades on the Nasdaq exchange and files with the SEC under CIK 1392694. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate SURG daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for SurgePays, Inc. directly from SEC EDGAR. SurgePays, Inc.'s 13F Pro composite quality score has ranged between 8 and 66 since 2022, currently 10.5 — a declining long-term trajectory across 24 quarterly and live scoring snapshots.

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Fun facts about SurgePays, Inc.

Quirks, history, and lore behind SURG — the kind of stuff that makes a stock memorable.

1
The Basics
A small-cap U.S. company in the telecom and fintech space · listed on Nasdaq · headquartered in Texas.
2
The Numbers
Annual revenue in the range of tens of millions of dollars — a minnow by market standards, but growing fast by serving a massively underserved population.
3
The History
The company pivoted its business model to focus on government-subsidized wireless service, riding a federal program designed to put free or low-cost phones in the hands of low-income Americans.
4
The Secret
Its real play isn't just selling phone plans — it embeds a fintech platform and digital financial services into corner stores and bodegas, turning small retailers into mini banks.
5
The Lore
The company distributes Lifeline and ACP program wireless services through a network of independent convenience stores, making the local bodega its primary distribution channel.
6
The Giveaway
Its ticker literally screams momentum, and its name promises a financial surge for the underbanked — this prepaid wireless and fintech firm trades under the symbol SURG.

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Revenue

Q1 2026

$16.0M

Net Income

Q1 2026

$-12.1M

Free Cash Flow

Q1 2026

$-4.6M

Operating Margin

Q1 2026

-70.1%

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro+

Revenue

-53.1% YoY

$57.0MFY 2025

FY19 $25.7MFY21 $51.1MFY22 $121.5MFY25 $57.0M

Net Income

-5198.3% YoY

$-36.1MFY 2025

FY19 $-8.4MFY21 $-13.5MFY22 $-680.8KFY25 $-36.1M

Operating Income

-5486.2% YoY

$-34.1MFY 2025

FY19 $-7.8MFY21 $-6.0MFY22 $633.8KFY25 $-34.1M

EPS (Diluted)

-3500.0% YoY

$-1.80FY 2025

FY19 —FY21 —FY22 $-0.05FY25 $-1.80

Total Assets

-75.0% YoY

$8.5MFY 2025

FY19 $10.0MFY21 $19.5MFY22 $34.0MFY25 $8.5M

Total Debt

+268.1% YoY

$28.2MFY 2025

FY19 $9.3MFY21 —FY22 $7.7MFY25 $28.2M

Op. Cash Flow

-2784.2% YoY

$-21.3MFY 2025

FY19 $-6.5MFY21 $-15.3MFY22 $793.3KFY25 $-21.3M

Metric	FY 2025	FY 2022	FY 2021	FY 2019	FY 2018	FY 2017
Revenue	$57.0M -53.1%	$121.5M +138.0%	$51.1M +98.3%	$25.7M +68.9%	$15.2M +13.3%	$13.5M
Net Income	$-36.1M -5198.3%	$-680.8K +95.0%	$-13.5M -60.2%	$-8.4M -448.1%	$-1.5M -155.7%	$2.8M
Operating Income	$-34.1M -5486.2%	$633.8K +110.6%	$-6.0M +22.9%	$-7.8M -405.9%	$-1.5M -851.6%	$204.3K
EPS (Diluted)	$-1.80 -3500.0%	$-0.05	—	—	—	—
Total Assets	$8.5M -75.0%	$34.0M +74.4%	$19.5M +95.3%	$10.0M +144.5%	$4.1M +32.7%	$3.1M
Total Debt	$28.2M +268.1%	$7.7M	—	$9.3M +633.1%	$1.3M +159.1%	$487.2K
Operating Cash Flow	$-21.3M -2784.2%	$793.3K +105.2%	$-15.3M -134.0%	$-6.5M -543.3%	$-1.0M -545.8%	$227.8K

AI Insight: SURG Financial Trends

SurgePays revenue stabilized near $16M but losses persist while debt has ballooned to $32M against negative equity of $24M.

• Revenue grew from $5M in Q3 2024 to $19M in Q3 2025, then stabilized at $16M in Q4 2025 and Q1 2026.

• Operating losses narrowed from $20M in Q4 2024 to $7M–$13M range in 2025, but operating cash flow remains deeply negative.

• Total debt surged from $4M in Q3 2024 to $32M in Q1 2026 while equity collapsed from $46M to negative $24M.

⚠ Net income deteriorated to $14M loss in Q4 2025 from $7M loss in Q2–Q3 2025 — reversal of improvement trend.

⚠ Negative shareholders' equity of $24M signals insolvency risk unless debt is restructured or capital injected.

⚠ Operating cash flow remains negative throughout; company burning cash despite stabilizing revenue.

AI Insight: SURG Ratio Trends

SurgePays remains deeply unprofitable with operating margins near -70%, though Q3 2025 showed a temporary improvement before deteriorating again.

• Operating margin improved to -37.2% in Q3 2025 from -72.1% in Q2 2024, but reversed sharply to -79.0% in Q4 2025 and -70.1% in Q1 2026.

• Net profit margin similarly volatile: -85.3% (Q2 2024) to -40.1% (Q3 2025) to -85.6% (Q4 2025), signaling inconsistent cost control.

• Debt-to-equity ratio rose from 0.10 (Q2 2024) to 0.46 (Q1 2025), reflecting increased leverage amid persistent losses.

⚠ Q4 2025 margin collapse to -79.0% and Q1 2026 rebound to -70.1% suggest severe operational instability or seasonal swings.

⚠ Persistent negative ROE/ROA/ROIC when available (Q2 2024: -111.5% ROE, -91.2% ROA) indicate value destruction and weak asset utilization.

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Available Research

13F Pro tracks comprehensive data for SurgePays, Inc. including:

SEC EDGAR filings (10-K, 10-Q, 8-K)

XBRL financial facts (revenue, EPS, margins)

Insider transactions (Form 4)

Institutional 13F holdings

Quality rankings (32 signals)

AI analyst debates & daily meetings

Historical financial trends

Peer comparison & sector analysis

Top Institutional Holders of SURG

VANGUARD CAPITAL MANAGEMENT LLC
$426.1K567,358 sh
Gaddis Premier Wealth Advisors LLC
$329.2K438,287 sh
GEODE CAPITAL MANAGEMENT, LLC
$168.2K223,997 sh
Cable Car Capital, LP
$136.4K181,667 sh
Millennium Capital Advisors, LLC
$63.8K85,000 sh
VANGUARD FIDUCIARY TRUST CO
$62.5K83,235 sh
UBS Group AG
$56.2K74,802 sh
BlackRock, Inc.
$52.8K70,254 sh
Cetera Investment Advisers
$49.6K66,000 sh
CIBC Bancorp USA Inc.
$48.8K65,000 sh

Fund	Value	Shares
VANGUARD CAPITAL MANAGEMENT LLC	$426.1K	567,358
Gaddis Premier Wealth Advisors LLC	$329.2K	438,287
GEODE CAPITAL MANAGEMENT, LLC	$168.2K	223,997
Cable Car Capital, LP	$136.4K	181,667
Millennium Capital Advisors, LLC	$63.8K	85,000
VANGUARD FIDUCIARY TRUST CO	$62.5K	83,235
UBS Group AG	$56.2K	74,802
BlackRock, Inc.	$52.8K	70,254
Cetera Investment Advisers	$49.6K	66,000
CIBC Bancorp USA Inc.	$48.8K	65,000

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Is SURG a good stock to buy?

13F Pro's AI-powered analysis of SurgePays, Inc. (SURG) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Communication Services sector (listed on Nasdaq). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for SURG are available on the SURG stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.

Which hedge funds own SURG?

Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling SURG. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of SurgePays, Inc.'s investment landscape.