BARTLETT, Tenn. - SurgePays, Inc. (NASDAQ: SURG), a technology and wireless telecommunications firm currently valued at $28 million, has announced the promotion of Allison Seyler to vice president of sales, marking her as the first woman to hold this executive position within the company. According to InvestingPro data, the company maintains strong liquidity with a current ratio of 6.24, though it faces challenges with revenue growth. Seyler, who joined SurgePays in March 2024, has been credited with significantly increasing the company’s retail partner network and boosting cellular top-up revenues by over 400%. This growth comes at a crucial time, as InvestingPro analysis shows the company’s revenue declined by 40.7% in the last twelve months, with analysts anticipating further challenges ahead. Discover more insights with InvestingPro’s comprehensive research report, available for over 1,400 US stocks.
Seyler’s prior role as director of sales saw her play a crucial role in developing new markets, establishing strategic partnerships, and launching the company’s prepaid mobile virtual network operator service, LinkUp Mobile. In her new role, Seyler will lead the sales strategy, focusing on scaling LinkUp Mobile, accelerating market penetration for prepaid services, and expanding the digital services portfolio of SurgePays.
Brian Cox, chairman and CEO of SurgePays, praised Seyler’s transformative impact on the company’s growth, expressing confidence in her strategic approach to drive sustainable growth and enhance shareholder value. Seyler herself commented on the importance of relationship-building, strategic planning, and data-driven decision-making in the prepaid industry, expressing her excitement to apply these skills at SurgePays.
Seyler’s background includes extensive experience in business development, sales, account management, and product management across the global fintech and prepaid industries. She holds a Bachelor of Arts from the University of California, Irvine, and resides in Mission Viejo, Calif., with her family.
SurgePays provides prepaid wireless and point-of-sale platform services, focusing on underserved communities through convenience stores and neighborhood stores. Trading near its 52-week low of $1.33, the stock currently appears undervalued according to InvestingPro Fair Value metrics. The company’s forward-looking statements indicate an intent to maintain a strong balance sheet and execute its business plan, despite acknowledging the risks and uncertainties inherent in future operational or financial performance. Get access to 13 additional ProTips and detailed financial analysis with an InvestingPro subscription.
This promotion reflects SurgePays’ commitment to leadership excellence and innovation, as the company continues to expand its services and influence in the telecommunications sector. The information in this article is based on a press release statement from SurgePays.
In other recent news, SurgePays, Inc. has reported significant developments. The company entered a multi-year agreement with AT&T, positioning itself as a mobile virtual network operator (MVNO). This collaboration enables SurgePays to offer dependable voice, data, and messaging services to its customers, especially in underserved and rural markets.
In addition, SurgePays reported a substantial downturn in its third-quarter revenue for 2024, with revenues declining by 86% to $4.8 million. However, the company is actively transitioning its 280,000 MVNO subscribers to the Lifeline program and is enhancing its prepaid wireless brand, LinkUp Mobile.
Despite the revenue decline, SurgePays reported a 69% increase in platform service revenue and a 400% growth in monthly revenue for its prepaid top-ups platform. These recent developments highlight SurgePays’ strategic moves to navigate changes in funding and market conditions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.