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Segment Information
 12 Months Ended
Dec. 31, 2024
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 CONSOLIDATED FINANCIAL STATEMENTS

DECEMBER 31, 2024 AND 2023

 

Segment information for the Company’s operations for the years ended December 31, 2024 and 2023, is as follows:

 

   2024   2023 
   For the Years Ended December 31, 
   2024   2023 
         
Revenues          
Mobile Virtual Network Operators  $43,450,244   $118,577,920 
Comprehensive Platform Services   17,419,088    11,341,183 
Other Corporate Overhead   11,841    7,222,729 
Total  $60,881,173   $137,141,832 
           
Cost of revenues          
Mobile Virtual Network Operators  $58,410,842   $83,918,968 
Comprehensive Platform Services   16,779,312    11,281,722 
Other Corporate Overhead   15,218    6,298,651 
Total  $75,205,372   $101,499,341 
           
Operating expenses          
Mobile Virtual Network Operators  $1,204,818   $427,493 
Comprehensive Platform Services   3,132,457    1,799,469 
Other Corporate Overhead   23,120,877    14,550,145 
Total  $27,458,152   $16,777,107 
           
Income (loss) from operations          
Mobile Virtual Network Operators  $(16,165,416)  $34,231,459 
Comprehensive Platform Services   (2,492,681)   (1,740,008)
Other Corporate Overhead   (23,124,254)   (13,626,067)
Total  $(41,782,351)  $18,865,384 

 

 

SURGEPAYS, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

DECEMBER 31, 2024 AND 2023

 

Segment information for the Company’s assets and liabilities at December 31, 2024 and December 31, 2023, are as follows:

 

   December 31, 2024   December 31, 2023 
         
Total Assets          
Mobile Virtual Network Operators  $8,472,349   $32,502,760 
Comprehensive Platform Services   4,884,817    2,584,245 
Other Corporate Overhead   10,618,839    6,838,302 
Total  $23,976,005   $41,925,307 
           
Total Liabilities          
Mobile Virtual Network Operators  $1,505,400   $2,426,964 
Comprehensive Platform Services   103,612    155,295 
Other Corporate Overhead   7,105,380    10,040,099 
Total  $8,714,392   $13,521,843 

 

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.