SurgePays, Inc. has reported its financial results for the first quarter ending March 31, 2025. The company announced a forecast of surpassing $200 million in revenue over the next 12 months starting April 1, 2025, following the nationwide launch of LinkUp Mobile and a growing pipeline of MVNE partnerships. SurgePays expects to achieve positive operating cash flow before the end of the year, indicating a shift towards sustained profitability and scalable growth. The company's cash, cash equivalents, and investments totaled $5.4 million as of March 31, 2025. Additionally, SurgePays secured a $7 million senior secured convertible note with a 15% annual interest rate, maturing 24 months from the date of closing. This financial backing is anticipated to further accelerate the company's expansion efforts. Following the integration with AT&T and the shipping of over 250,000 SIM cards, SurgePays is poised for significant growth. The investments made in technology, distribution, and strategic partnerships are expected to drive the company towards achieving its financial targets for 2025.
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