SurgePays appoints new President of Sales and Operations

BARTLETT, Tenn. - SurgePays, Inc. (NASDAQ:SURG), a technology firm specializing in wireless and point-of-sale (POS) services with a market capitalization of approximately $55 million, announced today the promotion of Derron Winfrey to President, Sales and Operations. The company’s stock has shown strong momentum, gaining over 50% in the past six months, according to InvestingPro data. Winfrey, with over 25 years of experience in the fintech and wireless sectors, will now lead the company’s sales efforts, focusing on its primary services, including the LinkUp Mobile prepaid wireless service, prepaid top-ups, federal Lifeline programs, and the Clearline marketing platform.

Winfrey’s new responsibilities include managing the expansion of SurgePays’ sales organization, operational development of a new sales center in El Salvador, and improving customer onboarding and experience through data intelligence. His previous accomplishments within the company include the integration of ECS Prepaid, which he founded, into SurgePays’ business model, and preparing the LinkUp Mobile MVNO for its direct market launch in partnership with AT&T.

Brian Cox, Chairman and CEO of SurgePays, praised Winfrey’s contributions, stating that his focus on sales and operations is expected to elevate the company’s execution and scale, ultimately increasing shareholder value. Winfrey’s approach to leadership emphasizes investing in people to build high-performing teams, a philosophy that has been a cornerstone of his career. InvestingPro analysis reveals the company maintains a healthy balance sheet with more cash than debt, and a current ratio of 2.95x, indicating strong short-term liquidity.

Before his tenure at SurgePays, Winfrey founded ECS Prepaid and served as president of Electronic Check Services (ECS), where he also contributed to the launch of Softgate Systems, a fintech product processing company. His leadership has earned multiple recognitions, including a place in Inc. Magazine’s List of Fastest Growing Companies in North America and being named top entrepreneur business person in Springfield, Mo.

SurgePays operates a unique ecosystem that serves community retail stores in underserved communities, offering a blend of prepaid wireless, government-subsidized mobile plans, and POS software. This promotion is part of the company’s ongoing efforts to expand its market share and build upon its platform designed for scalability and growth. Analysts are optimistic about the company’s trajectory, with revenue growth forecast at 75% for the upcoming year and expectations of profitability. For deeper insights into SurgePays’ financial health and growth prospects, investors can access comprehensive analysis through InvestingPro, which offers 15+ additional exclusive tips and detailed metrics for informed decision-making.

The information in this article is based on a press release statement from SurgePays.

In other recent news, Surgepays Inc. reported its financial results for Q4 2024, revealing a mixed performance. The company achieved revenues of $60.9 million, significantly exceeding the forecast of $9.02 million, but reported a net loss of $45.7 million, or $2.39 per share, missing the EPS forecast of -$0.225. Despite the earnings miss, the company experienced a revenue boost from strategic product launches such as the Link Up Mobile prepaid brand and eSIM capabilities. Surgepays also projects over $200 million in revenue for the next 12 months, driven by its various service channels. The company aims to be cash flow positive by the end of 2025, with a focus on high-margin states and channels. Analyst firms have not provided recent upgrades or downgrades for Surgepays. However, the company continues to face challenges, including a significant net loss and cash flow issues, which could impact future operations. Additionally, the company is transitioning from the ACP federal funding program, which may affect customer retention.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.