Business
SurgePays Announces 2022 Preliminary Financial Results and Schedules Fourth Quarter and Full Year 2022 Earnings Call
Q4 Positive Cash Flow over $2 million with sales over $35 million BARTLETT, Tenn., March 02, 2023 (GLOBE NEWSWIRE) -- SurgePays, Inc. (Nasdaq: SURG)
About this update from Surgepays, Inc.
[{"type":"text","content":"Q4 Positive Cash Flow over $2 million with sales over $35 million\nBARTLETT, Tenn., March 02, 2023 (GLOBE NEWSWIRE) -- SurgePays, Inc. (Nasdaq: SURG) (“SurgePays” or the “Company”), a technology and telecommunications company focused on the underbanked and underserved, announces preliminary results for the fourth quarter and full year ended December 31, 2022. For the fourth quarter of 2022, the Company expects to report revenues between $35 million - $36 million which equates to full year revenue expectations of between $120 million - $121 million, a greater than 130% growth rate over 2021. Additionally, fourth quarter 2022 positive cash flow is expected to be between $2 - $3 million. Commenting on recent company performance, Brian Cox, SurgePays Chairman and CEO said, \"We have seen tremendous growth over the last quarter and full year due to the immense contributions from our team and partners. I am proud of our team’s ability to execute the business plan of over 2X revenue growth while simultaneously transitioning to being cash flow positive. 2022 was a framework year for us which is allowing multiple new products and sales channels to be opened for 2023. We expect to continue on a significant revenue growth trajectory as we look to expand revenue opportunities through subscriber growth and alignments with convenience store distribution partners. These alignments will drive store count and increase transactions on the SurgePays network. Our model is to create a wide path to success by reinvesting in providing products and services the underbanked community both needs and wants.” Conference Call Information The Company plans to release financial and operational results for fourth quarter 2022 at market close on Thursday March 30, 2023. SurgePays management will host a webcast at 5 p.m. ET / 2 p.m. PT to discuss these results. The live webcast of the call can be accessed at 4Q 2022 Webcast Link, as well as on the company’s investor relations website at ir.surgepays.com. Telephone access to the call will be available at 877-407-9208 (in the U.S.) or by dialing 201-493-6784 (outside U.S.). A telephone replay will be available approximately one hour following completion of the call through Thursday, April 13, 2023. To access the replay, please dial 844-512-2921 (in the U.S.) or 412-317-6671 (outside U.S.). Enter Conference ID #137...