SurgePays Named 50th Fastest Growing Company in North America According to Deloitte Technology Fast 500 Ranking
01 December 2021 - 1:01AM
SurgePays, Inc. (NASDAQ: SURG), a fintech company providing a
complete suite of financial services and prepaid products to
convenience and neighborhood stores serving the underbanked market,
has been recognized as the 50th fastest growing company in North
America by the Deloitte Technology Fast 500™.
The 2021 designation marks the third consecutive year SurgePays
has made the rankings – up from #172 on the prestigious listing in
2020. The Deloitte Technology Fast 500 honors companies that
“define the cutting edge, transform the way we do business, disrupt
the technology industry, and combine technological innovation,
entrepreneurship, and rapid growth.”
“SurgePays has been on a breakneck growth path over the last few
years,” said Brian Cox, chairman and CEO, SurgePays. “This
validation from the Deloitte Technology Fast 500 as the 35th
fastest growing company in the software and SaaS industry, and 50th
fastest overall, is of course gratifying. However, to achieve this
recognition and yearly revenue over $50,000,000 when our focus was
on development, margin expansion and becoming NASDAQ listed, is
quite frankly eye opening to what can be accomplished now that we
have the resources to invest in our business and our focus is
recalibrated to revenue growth via building the national network of
stores on our software platform.”
Earlier this month, SurgePays announced the closing of an
upsized $19.8 million public offering and uplisting to the Nasdaq
Capital Market. The Company also reported a significant revenue
catalyst from the Emergency Broadband Benefit Program (“EBB
Program”) that launched in August through the Company’s wholly
owned subsidiary, SurgePhone Wireless LLC, which generated a total
of $2.42 million in revenue in September and October.
“Everyone on our team could not be more excited. We have
stabilized to a relatively fixed level of infrastructure and
development costs and covering this with revenue from operations,
so our expenditures will be focused on sales and growth
initiatives. We have a solutions-oriented management team capable
of capitalizing on opportunities with diverse revenue channels and
multiple ways to grow the company. Simply put, we have built a
fantastic engine that’s just now cranking up and the recent capital
infusion is the fuel we needed to pursue our extraordinary revenue
growth strategy.”
The Deloitte Technology Fast 500 awardees are selected based on
percentage fiscal year revenue growth from 2017 to 2020. Overall,
the 2021 Deloitte Technology Fast 500 companies achieved revenue
growth ranging from 212% to 87,037% over the three-year time frame,
with a median growth rate of 521%.
“Each year the Technology Fast 500 shines a light on leading
innovators in technology and this year is no exception,”
said Paul Silverglate, vice chair, Deloitte LLP and U.S.
technology sector leader. “In the face of innumerable challenges
resulting from the pandemic, the best and brightest were able to
pivot, reinvent and transform and grow. We celebrate the winning
organizations and especially the talented employees driving their
success.”
About SurgePays, Inc. SurgePays, Inc.
(www.SurgePays.com) (NASDAQ: SURG), founded in 2006 and
headquartered in Bartlett, Tenn. near Memphis, is a rapidly growing
fintech targeting the underbanked market. The company utilizes its
blockchain software platform to provide a comprehensive suite of
essential financial services, telecom and prepaid products, as well
as top-selling consumable products, to convenience and community
stores, bodegas and tiendas.
Cautionary Note Regarding Forward-Looking Statements.
This press release includes express or implied statements that
are not historical facts and are considered forward-looking within
the meaning of Section 27A of the Securities Act and Section 21E of
the Securities Exchange Act. Forward-looking statements involve
substantial risks and uncertainties. Forward-looking statements
generally relate to future events or our future financial or
operating performance and may contain projections of our future
results of operations or of our financial information or state
other forward-looking information. In some cases, you can identify
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“could,” “would,” “should,” “expect,” “intend,” “plan,”
“anticipate,” “believe,” “estimate,” “predict,” “project,”
“potential,” “continue,” “ongoing,” or the negative of these terms
or other comparable terminology, although not all forward-looking
statements contain these words. Although we believe that the
expectations reflected in these forward-looking statements are
reasonable, these statements relate to future events or our future
operational or financial performance and involve known and unknown
risks, uncertainties and other factors that may cause our actual
results, performance or achievements to be materially different
from any future results, performance or achievements expressed or
implied by these forward-looking statements. Furthermore, actual
results may differ materially from those described in the
forward-looking statements and will be affected by a variety of
risks and factors that are beyond our control, including, without
limitation, statements about our future financial performance,
including our revenue, cash flows, costs of revenue and operating
expenses; our anticipated growth; our predictions about our
industry; the impact of the COVID-19 pandemic on our business and
our ability to attract, retain and cross-sell to clients. The
forward-looking statements contained in this release are also
subject to other risks and uncertainties, including those more
fully described in our filings with the Securities and Exchange
Commission (“SEC”), including in our Annual Report on Form 10-K for
the fiscal year ended December 31, 2020. The forward-looking
statements in this press release speak only as of the date on which
the statements are made. We undertake no obligation to update, and
expressly disclaim the obligation to update, any forward-looking
statements made in this press release to reflect events or
circumstances after the date of this press release or to reflect
new information or the occurrence of unanticipated events, except
as required by law.
MEDIA CONTACTS: Henry Feintuch / Doug Wright Feintuch
Communications 646-753-5710 /
646-753-5711surgepays@feintuchpr.com
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