June sales top $142,000 in only 32 participating dealers
Company Advances Discussions on Joint Venture to Roll Program Out to 9,000 Retail Network
BARTLETT, Tenn., July 29, 2026 (GLOBE NEWSWIRE) -- SurgePays, Inc. (NASDAQ: SURG) ("SurgePays" or the "Company"), a wireless and fintech technology company connecting subprime and underserved consumers to essential mobile and financial services, today announced an expanded relationship with All Prepaid, LLC, dba LowWeeklyPayments ("LWP" or "Low Weekly Payments"), a Florida-based smartphone rent-to-own (RTO) platform serving subprime consumers, following a three-month pilot across 32 independent retail dealers. The companies are actively exploring a new joint venture to scale this early success across SurgePays' broader multi-thousand dealer network.
Deployed inside 32 SurgePays-affiliated dealer locations, the SurgePays + LWP program scaled sharply over its first three months, generating retail sales of:
-
April:
$1,500
-
May:
$29,699
-
June:
$142,725
The month over month acceleration from initial dealer onboarding in April to $142,725 in June sales revenue, or approximately $4,438 in average revenue per dealer for the month across the 32 pilot dealers, is the primary reason the Company is moving to expand the program beyond the initial 32 dealer test market.
LWP operates a rent-to-own device model built around a unique approval matrix that the Company believes delivers materially higher approval rates than other device-financing options currently available to the subprime segment. Under the program, LWP purchases the phone and rents the device to the customer under a low weekly payment structure until the phone is paid off, at which point the customer owns the device outright.
Inside SurgePays’ dealer network, the LWP program is designed to convert customers who typically transact in cash and cannot qualify for traditional credit-based device financing. The LWP program is available as a standalone RTO option that works with the customer’s existing carrier or combined with a new service offering such as LinkUp Mobile, giving dealers a way to serve a broader set of buyers than a service-only or device-only offering could reach.
"We anticipated good results, but we were pleasantly surprised at how fast this program took off. June revenue reached $142,725 across just 32 pilot dealers, roughly $4,438 per dealer, only two months after initial onboarding in April, and that acceleration is the primary reason the Company is expanding the program to the thousands of dealers already transacting on the SurgePays platform. This solves a big problem for consumers in the subprime market," said K. Brian Cox, Chairman and Chief Executive Officer of SurgePays. "But the bigger opportunity is what RTO does to our national footprint. Every SurgePays dealer we activate on the LWP platform gets a new reason to walk customers in the door and a new reason to keep them coming back, and every prospective retailer we pitch now has one more product that puts money in their register. RTO is quickly becoming both a growth engine inside our existing base and a catalyst to bring the next wave of dealers onto the SurgePays network. Momentum has been strong enough that a new joint venture with LWP is in the works."
“Our mission at Low Weekly Payments is to give hard-working consumers a fair, transparent path to the technology they need to participate in the modern economy,” said Enrique Hirlemann, Co-Founder and Chief Executive Officer of All Prepaid LLC. “Our unique approval matrix and KYC were built specifically for this customer, and it lets us approve buyers that other RTO programs and traditional device financing companies simply turn away. We buy the phone, the customer takes it home the same day, and they own it outright once the low weekly payments are complete. SurgePays’ national dealer footprint and its focus on the same subprime customer which we built LWP to serve made this a natural pairing. We are excited about the venture we are exploring together to scale this program revenue significantly.”
The next phase contemplates a broader rollout of the SurgePays + LWP program across the Company’s independent retail dealer footprint, along with joint go-to-market resources aimed at signing new dealers who want access to the LWP RTO service offering. The companies are in active discussions regarding the structure of a potential new joint venture intended to maximize this success at scale and will provide further updates if and when definitive terms are reached.
About SurgePays, Inc.
SurgePays, Inc. (NASDAQ: SURG) is a wireless and fintech technology company connecting subprime and underserved consumers to essential mobile and financial services. The Company operates a nationwide retail network and proprietary technology platform that enables the distribution of wireless services, financial products, and essential services to consumers who primarily transact in person. By combining physical distribution with data-driven technology, SurgePays is building a scalable platform designed to increase engagement and drive recurring revenue across multiple product categories. For more information, please visit www.surgepays.com.
About Low Weekly Payments
All Prepaid, LLC, dba LowWeeklyPayments ("LWP"), is a Florida limited liability company headquartered in Doral, Florida that operates a rent-to-own platform focused on making quality smartphones accessible to underbanked and subprime consumers. Under the LWP program, the Company purchases the phone and rents the device to the customer under a low weekly payment structure until the phone is paid off, at which point the customer owns the device outright. LWP’s unique approval matrix is designed to deliver materially higher approval rates than traditional programs, enabling retail dealers to convert customers who would otherwise be turned away at the counter. For more information, please visit www.AllPrepaidRTO.com.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations, and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy, and other future conditions, including with respect to the performance of the Company’s program with Low Weekly Payments, the potential expansion of that program across the Company’s dealer network, the possibility and structure of a new joint venture with Low Weekly Payments, and the Company’s ability to recruit additional dealers. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements are discussed or identified in our filings with the Securities and Exchange Commission, including the risk factors contained in our most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by these cautionary statements. You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this press release. We undertake no obligation to update these statements as a result of new information or future events, except as required by law.
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SurgePays Reports $142,725 in June Sales from Low Weekly Payments Pilot, Explores Joint Venture Expansion
SurgePays reports $142,725 in June sales from 32 dealers, plans expansion via joint venture with Low Weekly Payments.
Quiver AI Summary
SurgePays, Inc. has reported substantial success from its partnership with All Prepaid, LLC (Low Weekly Payments) after a three-month pilot involving 32 independent retailers, generating sales of over $142,000 in June alone. This success, which marks a significant revenue growth from April's $1,500 to June's $142,725, has prompted SurgePays to explore a joint venture with Low Weekly Payments to expand the program across its extensive dealer network. The partnership aims to provide rent-to-own smartphone solutions tailored for subprime consumers, utilizing a unique approval matrix that ensures higher approval rates than typical financing options. SurgePays' CEO emphasized the positive impact of this initiative, suggesting it could attract new business and enhance customer retention among dealers. The companies are actively discussing a broader rollout to maximize their combined reach and effectiveness in serving underserved markets.
Potential Positives
Potential Negatives
FAQ
What were SurgePays' June sales figures?
SurgePays reported June sales of $142,725 generated from 32 participating dealers in its pilot program.
What is the SurgePays and LWP joint venture?
The joint venture aims to expand the successful rent-to-own program across SurgePays' 9,000 retail locations.
How does the LWP rent-to-own model work?
LWP purchases smartphones and rents them to customers with low weekly payments until ownership is transferred upon payment completion.
What are the benefits of the LWP program for consumers?
The LWP program offers higher approval rates for subprime consumers, making technology more accessible to underserved markets.
How is SurgePays expanding its dealer network?
SurgePays intends to activate more dealers by offering the LWP rent-to-own service and enhancing its product offerings.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$SURG Insider Trading Activity
$SURG insiders have traded $SURG stock on the open market 3 times in the past 6 months. Of those trades, 3 have been purchases and 0 have been sales.
Here’s a breakdown of recent trading of $SURG stock by insiders over the last 6 months:
To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.
$SURG Hedge Fund Activity
We have seen 12 institutional investors add shares of $SURG stock to their portfolio, and 7 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
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$SURG Analyst Ratings
Wall Street analysts have issued reports on $SURG in the last several months. We have seen 1 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
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Full Release
June sales top $142,000 in only 32 participating dealers
Company Advances Discussions on Joint Venture to Roll Program Out to 9,000 Retail Network
BARTLETT, Tenn., July 29, 2026 (GLOBE NEWSWIRE) -- SurgePays, Inc. (NASDAQ: SURG) ("SurgePays" or the "Company"), a wireless and fintech technology company connecting subprime and underserved consumers to essential mobile and financial services, today announced an expanded relationship with All Prepaid, LLC, dba LowWeeklyPayments ("LWP" or "Low Weekly Payments"), a Florida-based smartphone rent-to-own (RTO) platform serving subprime consumers, following a three-month pilot across 32 independent retail dealers. The companies are actively exploring a new joint venture to scale this early success across SurgePays' broader multi-thousand dealer network.
Deployed inside 32 SurgePays-affiliated dealer locations, the SurgePays + LWP program scaled sharply over its first three months, generating retail sales of:
The month over month acceleration from initial dealer onboarding in April to $142,725 in June sales revenue, or approximately $4,438 in average revenue per dealer for the month across the 32 pilot dealers, is the primary reason the Company is moving to expand the program beyond the initial 32 dealer test market.
LWP operates a rent-to-own device model built around a unique approval matrix that the Company believes delivers materially higher approval rates than other device-financing options currently available to the subprime segment. Under the program, LWP purchases the phone and rents the device to the customer under a low weekly payment structure until the phone is paid off, at which point the customer owns the device outright.
Inside SurgePays’ dealer network, the LWP program is designed to convert customers who typically transact in cash and cannot qualify for traditional credit-based device financing. The LWP program is available as a standalone RTO option that works with the customer’s existing carrier or combined with a new service offering such as LinkUp Mobile, giving dealers a way to serve a broader set of buyers than a service-only or device-only offering could reach.
"We anticipated good results, but we were pleasantly surprised at how fast this program took off. June revenue reached $142,725 across just 32 pilot dealers, roughly $4,438 per dealer, only two months after initial onboarding in April, and that acceleration is the primary reason the Company is expanding the program to the thousands of dealers already transacting on the SurgePays platform. This solves a big problem for consumers in the subprime market," said K. Brian Cox, Chairman and Chief Executive Officer of SurgePays. "But the bigger opportunity is what RTO does to our national footprint. Every SurgePays dealer we activate on the LWP platform gets a new reason to walk customers in the door and a new reason to keep them coming back, and every prospective retailer we pitch now has one more product that puts money in their register. RTO is quickly becoming both a growth engine inside our existing base and a catalyst to bring the next wave of dealers onto the SurgePays network. Momentum has been strong enough that a new joint venture with LWP is in the works."
“Our mission at Low Weekly Payments is to give hard-working consumers a fair, transparent path to the technology they need to participate in the modern economy,” said Enrique Hirlemann, Co-Founder and Chief Executive Officer of All Prepaid LLC. “Our unique approval matrix and KYC were built specifically for this customer, and it lets us approve buyers that other RTO programs and traditional device financing companies simply turn away. We buy the phone, the customer takes it home the same day, and they own it outright once the low weekly payments are complete. SurgePays’ national dealer footprint and its focus on the same subprime customer which we built LWP to serve made this a natural pairing. We are excited about the venture we are exploring together to scale this program revenue significantly.”
The next phase contemplates a broader rollout of the SurgePays + LWP program across the Company’s independent retail dealer footprint, along with joint go-to-market resources aimed at signing new dealers who want access to the LWP RTO service offering. The companies are in active discussions regarding the structure of a potential new joint venture intended to maximize this success at scale and will provide further updates if and when definitive terms are reached.
About SurgePays, Inc.
SurgePays, Inc. (NASDAQ: SURG) is a wireless and fintech technology company connecting subprime and underserved consumers to essential mobile and financial services. The Company operates a nationwide retail network and proprietary technology platform that enables the distribution of wireless services, financial products, and essential services to consumers who primarily transact in person. By combining physical distribution with data-driven technology, SurgePays is building a scalable platform designed to increase engagement and drive recurring revenue across multiple product categories. For more information, please visit www.surgepays.com.
About Low Weekly Payments
All Prepaid, LLC, dba LowWeeklyPayments ("LWP"), is a Florida limited liability company headquartered in Doral, Florida that operates a rent-to-own platform focused on making quality smartphones accessible to underbanked and subprime consumers. Under the LWP program, the Company purchases the phone and rents the device to the customer under a low weekly payment structure until the phone is paid off, at which point the customer owns the device outright. LWP’s unique approval matrix is designed to deliver materially higher approval rates than traditional programs, enabling retail dealers to convert customers who would otherwise be turned away at the counter. For more information, please visit www.AllPrepaidRTO.com.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations, and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy, and other future conditions, including with respect to the performance of the Company’s program with Low Weekly Payments, the potential expansion of that program across the Company’s dealer network, the possibility and structure of a new joint venture with Low Weekly Payments, and the Company’s ability to recruit additional dealers. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements are discussed or identified in our filings with the Securities and Exchange Commission, including the risk factors contained in our most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by these cautionary statements. You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this press release. We undertake no obligation to update these statements as a result of new information or future events, except as required by law.
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