SURG Surge Holdings has grown from $1 million/month in revenues in late 2017 to an expected $1.5/million/month in Q4/2018.
- Based on a recently announced MOU with Pastime Foods, company revenues are poised for explosive growth in 2019 and 2020.
- The company offers a portfolio of wireless and payment services products and services tailored to the 77 million people without cell phone contracts and the 51% of the US who are credit challenged.
- Surge rapidly scales revenue via the development of a network of convenience store operators serving lower income consumers.
Surge Holdings $SURG is a rapidly growing OTC: QB wireless and fintech payment services company engaged in servicing lower and lower-middle income consumer needs. The Surge plan is to become a financial hub for people without ready access to a bank or those who need to conduct their financial affairs with cash. The company generates revenue in three product verticals; Surge Pays Portal, the company’s SaaS services payment and services management system, financial products (pre-paid debit cards, wallets, and money orders), and cell phones. With its suite of products, Surge becomes a major profit partner for its network of convenience stores, bodegas, and independent grocery stores with additional sales available online.
Surge Holdings (SURG) has grown from a pace of $1 million in revenue per month in 2017 to nearly $1.5 million per month in late 2018. A recent research report completed by Goldman Small Cap Research stated the “The key metric for investors: an estimated $1.5M in monthly revenue per 1,000 stores, which should be continually replicated with greater sales penetration over time.”
As of early October 2018, the company services roughly 1,000 convenience stores with pending agreements to rapidly increase this total. Earlier in the 2018, Surge Holdings announced a goal of 15,000 convenience stores by the end of 2019. In early October 2018, the company announced a Memorandum of Understanding (“MOU”) to add 40,000 locations from Pastime Foods. The Pastime Foods stores will replace their existing payment portal with Surge Pays, guaranteeing Surge $1,500 a store in revenue. Surge can upsell their wireless and financial services through these stores for additional revenue. If one considers that 1,000 convenience stores provides more than $1,500/month/store in revenues, 20,000 stores could be worth in excess of $30 million/month by year end 2019. Most companies going $20+ million/month in revenues are looking at a NASDAQ listing. That is a growth rate worthy of serious consideration. SURG is one stock to watch now!