{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-26-017083","form_type":"8-K","ticker":"SURG","cik":"0001392694","company_name":"SurgePays, Inc.","filed_at":"2026-04-16T23:59:59+00:00","discovered_at":"2026-05-14T18:02:32.226264+00:00","generated_at":"2026-05-15T05:44:36.000370+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"confidence":"high","headline":"SurgePays FY2025 revenue $57.0M, operating loss improves to $30.7M; cash burn reduced","bullets":["Revenue $57.0M in FY2025, down from $60.9M in 2024 due to ACP wind-down.","Operating loss improved to $30.7M from $41.8M; gross loss improved to $10.6M from $14.3M.","G&A expenses reduced 28% to $20.1M; management estimates monthly cash burn of $250k-$300k post-Q1 2026.","LinkUp Mobile surpassed 100k subscriber lines; MVNO revenue $13.5M (24% of total).","New partnerships and platform launches (Alpha Modus, stored value/loyalty) to drive growth."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-26-017083","json":"https://secwatch.observer/filing/0001493152-26-017083.json","markdown":"https://secwatch.observer/filing/0001493152-26-017083.md","text":"https://secwatch.observer/filing/0001493152-26-017083.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1392694/000149315226017083/0001493152-26-017083-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1392694/000149315226017083/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-15T05:44:36.000370+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"bf91171e48b996e3b803c91a45e40d5c55c114e4","claim":"SurgePays, Inc. reported financial results for year ended December 31, 2025.","evidence_excerpt":"Revenue totaled approximately $57.0 million, compared to $60.9 million in 2024","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1392694/000149315226017083/0001493152-26-017083-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"year ended December 31, 2025"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"},{"claim_id":"bf91171e48b996e3b803c91a45e40d5c55c114e4","claim":"SurgePays, Inc. reported financial results for year ended December 31, 2025.","evidence_excerpt":"On April 14, 2026, 2025, SurgePays, Inc. (the \" Company \") issued a press release announcing its financial results for the year ended December 31, 2025","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1392694/000149315226017083/0001493152-26-017083-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"year ended December 31, 2025"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}