BARTLETT, Tenn., April 24, 2025 -- SurgePays, Inc. (Nasdaq: SURG) ("SurgePays" or the "Company"), a wireless and point-of-sale technology company, announced today the completion of its nationwide launch on the AT&T network, following full integration as a mobile virtual network operator (MVNO). The milestone positions SurgePays to aggressively scale both its direct-to-consumer wireless services and its infrastructure platform as a mobile virtual network enabler (MVNE).
SurgePays has already shipped over 250,000 SIM cards to customers and retail partners across the country. With 500,000 additional SIM cards on order, the Company is ramping to meet strong demand across both its LinkUp Mobile brand and wholesale MVNE partner network.
The cutover to the AT&T network, completed April 1, marks the final milestone in the MVNO integration process. This follows months of successful testing and phased migrations of prepaid subscribers, culminating in full validation of provisioning, billing and API systems by AT&T.
"This is a pivotal moment for SurgePays," said Brian Cox, Chairman and CEO of SurgePays. "We're no longer just a reseller or distribution platform — we're now operating directly with the carrier, with the ability to scale on both the retail and wholesale sides of the wireless business."
Speed and Scale: Execution in Under Six Months
The entire integration, from contract execution to full network migration, was completed in under six months, a speedy timeline in the telecom space. SurgePays now provides nationwide 4G LTE and 5G services under the LinkUp Mobile brand while enabling other wireless providers to operate via its MVNE platform.
SurgePays is actively expanding through three primary revenue engines:
- Direct-to-consumer prepaid services via LinkUp Mobile
- Government-subsidized Lifeline mobile offerings
- MVNE infrastructure for wholesale partners without direct carrier agreements
Strong Demand Across Distribution Channels
Early market response has exceeded internal forecasts. With retail partners placing larger recurring orders for SIMs and top-up activations, SurgePays is allocating inventory strategically to long-term channel relationships while onboarding new wholesale clients.
In November 2024, the Company signed a multi-year MVNO agreement with AT&T, unlocking access to one of the nation's most reliable networks. This agreement also empowers SurgePays to offer critical back-end telecom infrastructure to other mobile providers through its MVNE platform, which will pivot the Company towards its goal of creating high-margin recurring revenue.
About SurgePays, Inc.
SurgePays, Inc. is a wireless and fintech company focused on delivering mobile connectivity and financial services to underserved communities. As both a mobile virtual network operator (MVNO) and mobile virtual network enabler (MVNE), SurgePays operates its own wireless brand while also providing back-end infrastructure, including provisioning and billing, to other wireless providers. The Company's proprietary point-of-sale platform is used nationwide in thousands of retail locations, enabling SIM activations, top-ups, and digital financial services. SurgePays is built to scale and uniquely positioned to grow across both retail and wholesale wireless channels. Visit www.SurgePays.com for more information.
Cautionary Note Regarding Forward-Looking Statements
This press release includes express or implied statements that are not historical facts and are considered forward-looking within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act. Forward-looking statements involve substantial risks and uncertainties and generally relate to future events or our future financial or operating performance. These statements may include projections, guidance, or other estimates regarding revenue, cash flow, business growth, market expansion, or customer acquisition. In some cases, you can identify forward-looking statements by the following words: "may," "will," "could," "would," "should," "expect," "intend," "plan," "anticipate," "believe," "estimate," "predict," "project," "potential," "continue," "ongoing," "attempting," or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words.
Although we believe the expectations reflected in these forward-looking statements, such as regarding our revenue, margins, expectations for customer demand, and profitability potential are reasonable, these statements relate to future events or our future operational or financial performance and involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. Furthermore, actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors that are beyond our control, including, without limitation, the assumption that the Company will be able to obtain high-margin recurring revenues, statements about our future financial performance, including our revenue, cash flows, costs of revenue and operating expenses; our anticipated growth; and our predictions about our industry and customer demand. These include, but are not limited to, our ability to scale our prepaid wireless business, transition ACP subscribers to Lifeline, maintain our MVNE partnerships, and achieve financial targets. The forward-looking statements contained in this release are also subject to other risks and uncertainties, including those more fully described in our filings with the Securities and Exchange Commission ("SEC"), including in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024. The forward-looking statements in this press release speak only as of the date on which the statements are made. We undertake no obligation to update, and expressly disclaim the obligation to update, any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law.
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