SurgePays, Inc. announced a significant amendment to its agreement with AT&T Mobility, LLC on June 29, 2026. The updated terms eliminate all remaining minimum spend commitments and are expected to lower subscriber costs and improve operating margins through more favorable wholesale pricing.
Key Details
- Debt Forgiveness: AT&T agreed to forgive approximately $10.3 million of previously billed minimum-commitment charges, which will reduce the company's accounts payable by the same amount.
- Financial Impact: The company will recognize a gain of approximately $8.5 million in the second quarter of 2026, positively impacting net income and stockholders' equity.
- Strategic Update: The amendment eliminates the prior aggregate minimum spend requirement of $50.0 million over three years, providing greater operational and financial flexibility going forward.