SurgePays (NASDAQ: SURG) issued a going concern warning in its quarterly report for the period ending June 30, 2026.
The company reported a net loss of $10.76 million for the first six months of the year.
Operations consumed substantial cash, leaving the firm with limited liquidity.
Revenue grew 45.7% during the first half of the year.
Total revenue reached $32.2 million for the six-month period.
The company faces a working capital deficit of $21.3 million as of June 30.
Stockholders’ deficit reached $20.75 million at the end of the period.
Nasdaq issued non-compliance notices to the company regarding its low stock price and market value.