SurgePays, Inc. (NASDAQ:SURG) moved lower in after-hours trading after releasing its full-year 2025 financial results on Tuesday, outlining improvements in cost structure and a shift toward a more capital-efficient growth model.
Financial Performance
The company reported full-year revenue of approximately $57 million, compared to $60.9 million in 2024, reflecting the impact of the conclusion of the Affordable Connectivity Program in mid-2024. Gross loss improved to $10.6 million from $14.3 million a year earlier, while operating loss narrowed to $30.7 million from $41.8 million in the prior year. General and administrative expenses declined to approximately $20.1 million from $27.5 million, representing a reduction in operating costs.
Management Commentary
Chief Executive Officer Brian Cox stated that the company demonstrated scalability during 2025, with revenue increasing sequentially through the first three quarters before declining …