SurgePays Reports 23% Month-Over-Month Growth in Smartphone Rent-to-Own Program, Reaching $176,000 in July Retail Sales
Joint Venture Discussions Continue as Company Evaluates Smartphone Rent-to-Own Program as Standalone Revenue Channel
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BARTLETT, Tenn., Aug. 11, 2026 (GLOBE NEWSWIRE) — SurgePays, Inc. (NASDAQ: SURG) (“SurgePays” or the “Company”), a wireless and fintech company connecting subprime and underserved consumers to essential mobile and financial services, today announced continued growth in its smartphone rent-to-own program with All Prepaid, LLC, dba LowWeeklyPayments (“LWP”). Retailer sales through the program reached approximately $176,000 in July, representing a 23% increase over June sales of $142,725. Since launching in April, the program has grown from approximately $1,500 in monthly retailer sales to more than $176,000 across essentially the same participating dealer footprint.
“July sales at approximately $176,000 confirms the trajectory of this offering is real, durable, and worthy of dedicated focus,” said K. Brian Cox, Chairman and Chief Executive Officer of SurgePays. “What began as an additional offering for our dealers has demonstrated enough traction for us to evaluate it as a distinct revenue channel within the SurgePays fintech platform. Based on the performance we have seen across fewer than 50 participating locations, we have initiated discussions with LWP regarding a potential joint venture to support the program’s continued expansion. The revenue potential of this program at 500 locations, and eventually 5,000, is what makes it worthy of dedicated focus today.”
Cox continued, “Dealer response has been striking because the program helps them move more inventory while giving consumers who lack traditional credit access to premium smartphones through an affordable weekly payment structure. LWP’s approval matrix meets these customers where they are, and the demand we are seeing tells us we are solving a real problem for the subprime consumer. We look forward to providing additional updates as discussions with LWP progress.”
The next phase contemplates a broader rollout of the smartphone rent-to-own program across the Company’s independent retail dealer footprint, with the companies evaluating the structure of a potential joint venture intended to capture this opportunity at scale. The Company will provide additional updates as appropriate.
About SurgePays, Inc.
SurgePays, Inc. (NASDAQ: SURG) is a wireless and fintech company connecting subprime and underserved consumers to essential mobile and financial services. The Company operates a nationwide retail network and proprietary technology platform that enables the distribution of wireless services, financial products, and essential services to consumers who primarily transact in person. By combining physical distribution with data-driven technology, SurgePays is building a scalable platform designed to increase engagement and drive recurring revenue across multiple product categories. For more information, please visit www.surgepays.com.
About Low Weekly Payments
All Prepaid, LLC, dba LowWeeklyPayments (“LWP”), is a Florida limited liability company headquartered in Doral, Florida that operates a rent-to-own platform focused on making quality smartphones and other electronics accessible to underbanked and subprime consumers. Under the LWP program, the Company purchases the product from participating retailers and rents the device to the customer under a low weekly payment structure until it is paid off, at which point the customer owns the device outright. LWP’s unique approval matrix is designed to deliver materially higher approval rates than traditional programs, enabling retail dealers to convert customers who would otherwise be turned away at the counter. For more information, please visit www.AllPrepaidRTO.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations, and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy, and other future conditions, including with respect to the performance and trajectory of the Company’s rent-to-own program with Low Weekly Payments, the potential expansion of that program across the Company’s dealer network, the possibility and structure of a joint venture with Low Weekly Payments, and the Company’s ability to recruit additional dealers. The July 2026 retail sales figure of approximately $176,000 disclosed in this release is preliminary and unaudited and remains subject to normal-course reconciliation. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements are discussed or identified in our filings with the Securities and Exchange Commission, including the risk factors contained in our most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by these cautionary statements. You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this press release. We undertake no obligation to update these statements as a result of new information or future events, except as required by law.
Investor Relations Contact
SurgePays, Inc.
ir@surgepays.com
Company Contact
SurgePays, Inc.
3124 Brother Blvd., Suite 104
Bartlett, TN 38133
www.surgepays.com
