SurgePays, Inc. Segments Disclosure
Note 10 – Segment Information
Operating segments are defined as components of an enterprise about which separate financial information is available and evaluated regularly by the chief operating decision maker, or decision–making group, in deciding how to allocate resources and in assessing performance. The Company’s chief operating decision maker is its Chief Executive Officer.
SURGEPAYS, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2025 AND 2024 |
The Company evaluated the performance of its operating segments based on revenue and operating loss. All data below is prior to intercompany eliminations.
Segment information for the Company’s operations for the years ended December 31, 2025 and 2024, are as follows:
| For the Years Ended December 31, | ||||||||
| 2025 | 2024 | |||||||
| Revenues | ||||||||
| Mobile Virtual Network Operators | $ | 13,453,149 | $ | 43,450,244 | ||||
| Point-of-Sale and Prepaid Services | 43,509,771 | 17,419,088 | ||||||
| Other Corporate Overhead | 11,841 | |||||||
| Total | $ | 56,962,920 | $ | 60,881,173 | ||||
| Cost of revenues | ||||||||
| Mobile Virtual Network Operators | $ | 22,242,341 | $ | 58,410,842 | ||||
| Point-of-Sale and Prepaid Services | 45,209,470 | 16,779,312 | ||||||
| Other Corporate Overhead | 100,000 | 15,218 | ||||||
| Total | $ | 67,551,811 | $ | 75,205,372 | ||||
| Operating expenses | ||||||||
| Mobile Virtual Network Operators | $ | 1,284,002 | $ | 1,204,818 | ||||
| Point-of-Sale and Prepaid Services | 3,412,642 | 3,132,457 | ||||||
| Other Corporate Overhead | 15,374,477 | 23,120,877 | ||||||
| Total | $ | 20,071,121 | $ | 27,458,152 | ||||
| Income (loss) from operations | ||||||||
| Mobile Virtual Network Operators | $ | (10,073,194 | ) | $ | (16,165,416 | ) | ||
| Point-of-Sale and Prepaid Services | (5,112,341 | ) | (2,492,681 | ) | ||||
| Other Corporate Overhead | (18,851,328 | ) | (24,805,903 | ) | ||||
| Total | $ | (34,136,863 | ) | $ | (43,464,000 | ) | ||
SURGEPAYS, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2025 AND 2024 |
Segment information for the Company’s assets and liabilities at December 31, 2025 and 2024, are as follows:
| December 31, 2025 | December 31, 2024 | |||||||
| Total Assets | ||||||||
| Mobile Virtual Network Operators | $ | 4,524,425 | $ | 8,472,349 | ||||
| Point-of-Sale and Prepaid Services | 2,231,645 | 4,884,817 | ||||||
| Other Corporate Overhead | 1,759,776 | 10,618,839 | ||||||
| Total | $ | 8,515,846 | $ | 23,976,005 | ||||
| Total Liabilities | ||||||||
| Mobile Virtual Network Operators | $ | 2,632,025 | $ | 1,505,400 | ||||
| Point-of-Sale and Prepaid Services | 2,768,490 | 103,612 | ||||||
| Other Corporate Overhead | 18,518,150 | 7,105,380 | ||||||
| Total | $ | 23,918,665 | $ | 8,714,392 | ||||
All intercompany accounts are separately presented above as both a component of the assets and liabilities. These amounts net to $0 in the Company’s consolidated balance sheets.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Apr 15, 2026 | Showing above |
| 2024 | Mar 25, 2025 | |
| 2023 | Mar 12, 2024 | |
| 2022 | Mar 30, 2023 | |
| 2021 | Mar 24, 2022 | |
| 2020 | Apr 2, 2021 | |
| 2019 | May 12, 2020 | |
| 2018 | Apr 1, 2019 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.