v3.25.1
Segment Information
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Segment Information

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.

 

The Company evaluated the performance of its operating segments based on revenue and operating loss. All data below is prior to intercompany eliminations.

 

 

SURGEPAYS, INC. AND SUBSIDIARIES

NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2025

 

Segment information for the Company’s operations for the three months ended March 31, 2025 and 2024, are as follows:

 

   2025   2024 
   For the Three Months Ended March 31, 
   2025   2024 
         
Revenues          
Mobile Virtual Network Operators  $2,285,823   $28,892,590 
Comprehensive Platform Services   8,291,606    2,530,589 
Other Corporate Overhead   -    5,956 
Total  $10,577,429   $31,429,135 
           
Cost of revenues          
Mobile Virtual Network Operators  $5,189,618   $20,760,199 
Comprehensive Platform Services   8,330,157    2,481,806 
Other Corporate Overhead   -    4,463 
Total  $13,519,775   $23,246,468 
           
Operating expenses          
Mobile Virtual Network Operators  $596,226   $34,831 
Comprehensive Platform Services   906,996    719,364 
Other Corporate Overhead   3,134,334    5,676,611 
Total  $4,637,556   $6,430,806 
           
Income (loss) from operations          
Mobile Virtual Network Operators  $(3,500,021)  $8,097,560 
Comprehensive Platform Services   (945,547)   (670,581)
Other Corporate Overhead   (3,134,334)   (5,675,118)
Total  $(7,579,902)  $1,751,861 

 

 

SURGEPAYS, INC. AND SUBSIDIARIES

NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2025

 

Segment information for the Company’s assets and liabilities at March 31, 2025 and December 31, 2024, are as follows:

 

   March 31, 2025   December 31, 2024 
         
Total Assets          
Mobile Virtual Network Operators  $5,132,592   $8,472,349 
Comprehensive Platform Services   4,915,593    4,884,817 
Other Corporate overhead   5,615,854    10,618,839 
Total  $15,664,039   $23,976,005 
           
Total Liabilities          
Mobile Virtual Network Operators  $1,155,359   $1,505,400 
Comprehensive Platform Services   338,593    103,612 
Other Corporate overhead   6,388,648    7,105,380 
Total  $7,882,600   $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.