SURG - Earnings call transcript Q2 2024

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Operator

Greetings. Welcome to SurgePays Second Quarter 2024 Earnings Conference Call. [Operator Instructions] Please note, this conference is being recorded. I will now turn the conference over to your host, Doug Lane, Investor Relations at SurgePays. Doug, you may begin.

Unknown Executive

good and operator, you, afternoon, everyone. Thank the Conference Call. to SurgePays Second and Webcast Earnings XXXX Quarter Welcome Today's August and from SurgePays and date call Evers, are the is Tony Brian XX, XXXX, Cox, Financial President Chief Chief Officer; on Executive Officer. and today

I'd Reform begin, everyone remind actual These to expressed are Act forward-looking of to may under the certain that are subject uncertainties cause as XXXX. results they statements. like materially defined call that risks Private contain from we the Before in this statements differ Securities could and Litigation to statements those forward-looking

For and Relations All events to statement to ir.surgepays.com. most forward-looking this SurgePays occur Investor of today's we current a SEC. today update recent any press after are release made and discussion obligation our on reflect such uncertainties, please accessible that SurgePays call. no the statements the reflect Copies expectations risks filings of with website, only, see undertake

ended available In XX, like addition, SurgePays Brian June to now the SurgePays Relations to also on President will turn I'd Executive call XXXX, website. And Form Cox. Chief Officer, XX-Q over Investor for the and quarter be

Kevin Cox

the Thanks, Doug. your want interest unwavering live shop. underserved of our and and grassroots start of where today's Thank the joining mission level core I at prepaid our actions. our financial This SurgePays. they commitment and to you by reiterating providing technology the underbanked call to to and commitment in guides and continued services for wireless populations all is at

the Affordable or by half that made first its did. the or years, was consolidated were XX% subsidized Mobile in to of MVNO few could sales. funding over This which federally successfully subscribers at plans aware possible run year, this of it our accounted Connectivity for out by which the Program over Network we acquired have funded this peak our past Operators XXX,XXX program's business, ACP. We offering Virtual Over

begun for fully find we whether But said did could the over to additional in wait free MVNO challenges the business, We you customer. target of be face. LinkUp the Congress by on We program, monthly which, price contingencies to aim about would happen. subsidized already lay in subsidy was offer to as subscribers and We to funding last early are implementing which plan Mobile, launched had remain program our this date, informed authorize longer which LinkUp we non-subsidized around to had a on I unfortunately, no Mobile, a the transition ensure to our out. call, option we them not uncertainty the as we or However, sister to attractive June. want

out put our subscribers day. assets. Therefore, build our tuned we valuable subscribers have market to ACP and our That's customers hired subscriber this and shop customers, keep existing bodegas We an industry of ran rest base Vice through rates executive we But of during these is to the been we develop cash out. absorb once the on are easy only flow a now in sight we shortsighted going environment. MVNO XXX,XXX AT&T meantime, for experience Stay to network and competitive enhanced mirror ran phase time are come this Gomez, further our spent transition lost to ongoing balance and prepaid period, convenience where to huge though stores the and put we ACP temporary. a active, our have in out. is an once Joe to services mention to the also over strong believe in Those in funding a of around Joe work transition costs not the thousands valuable losing rearview developments brings here, senior to efforts funding let would cash It XX-years December. position about the innovative in at of Operations. wireless like that to distribution the our assured, assets decision of charged business. non-subsidized newly business. In products burn talking the every that MVNO plan a of value fact go we sheet replace segment wealth by position We the chose local He wholesale of market the we to team. President to is year telecommunications our helping the for for hold the a do created not to with where and closed

So $XX.X with million quarter Congress to ACP with $XX.X about quarter, were ago at compared winding second as results, the XXXX in down it new sales expected million the and were in provide yet. looking declining year program as at which of mid-quarter to least the our funding

ACP was of a $XX.X immediately had decision when second profit year loss year take not the fully sheet coupled throughout in the to quarter. original generation versus changes a $XX of out gross quarter to our have renewing quarter. Also run What not with and the same operational the maintain versus management by profit letting expected was $X.X balance to continuity subscriber program, year our within million sales Congress sales the the ago This sales quarter. not million ago the in be funding our double contribute in our on was $X.X ACP funding a base. XXXX due that quarter Our million of revenues would $XX.X the million MVNO quarter, coming the whammy this services, which in million Logic's was were impacting planning Surge lead into made funded were last but did

licenses which main at or our do. renew it to acquire to a reoccurring fund over And and the Number Congress to program service, So service why ACP provide provide one, non-subsidized program, the incentivizing would base lower wireless to and start, Congress critical from sustainable standing stream. conjunction everybody's and we LinkUp we switch X terminated life, time. as thing right to would customer company broadband had go recapture to B plan continue would we to cost simply could reasons. of we to three, customers subsidy in a services Number a if This similar absorb brand. Number Mobile, plays with our out believe program the dollars. revenue have is but role of prepaid know costs? a a viable and with the how we a any was in tens For didn't if wireless delayed customers we backup millions and two, reacquire

As and of increasingly our and evolve, become to we to important want convenience store we provider services more goods partners. bodega and

their adversely products our provide, stock of consumers investors we and and to we trusted price. ACP long-term While an and our funding feel look stock Therefore, that buyback, customer aligned. business know in of these our of underbanked in distribution we has know offerings interests wireless the announce expand it's underserved at local convenience the fintech conduct store. We to so base opportunistic transactions prepaid we since main that the points impacted financial recognize corporate their a are now our are our to delay most time community

next a $X up the announced X of in buyback common SurgePays to over million months. open stock of have the We market

Number three, it's growth product wholesale subscriber enticing get end payments our third-party free flow LinkUp fund and customers are outside phase while with transactions for plan. relationship a initiatives: our gateway are stores. scaling wireless number of back the initiative the a to two, because following base, by up activations in necessary ACP subsidy sister prepaid the year This continue this been wireless it; to other generating positive and at offer cash number has Congress a to looking We offerings revenue to our subscriber stream four, prepaid of one, program convenience should grow expand cost-saving transition through continue for store. Number LinkUp at convenience our company wireless. a

convenience customer that nationwide offerings launched opportunities partnering product we product Las same building Number month's to our cash flow. of represent at Vegas. ClearLine market six, RetailNOW by Number Conference service executing identify short-term distribution last engagement potential opportunities. and we recently network are stores and prospective platform expand the for exploring stores unique instance, positive convenience five, For or in

we we for key Congress tuned I around that review not the at who initiatives to funding. more funding move into customers. this knew underserved said remain over ACP among the outset, results are footprint the XXXX. I'll half call. Tony to Tony? as could waiting call provide expand Many front we back underbanked turn today's the summarizing were before SurgePays our As of additional and our to news and run financial to on out underway for Stay the

Anthony Evers

everyone. quarter's begin afternoon, results. the good financial I and you, Thank overview of Brian, my second will

$XX.X prior The decrease April the XXXX, quarter, as million the lack second benefit XX%. full For compared had the to was due last for to funding representing the ACP months. of households the additional revenues federal that primarily ACP. month $XX.X million we received was of ACP a of reported decrease in they in

benefit and an were ACP no receiving households ACP Some June benefit. longer in received a May partial effective households X,

$XX a million the a over to changes from subscriber profit while $X.X profit to our due the in to first protect of XXXX year million of strategic a sheet business a utilize our ACP XXXX. services operational ago This we our in LogicsIQ of and in quarter, to QX lead and to our second loss model. of QX was quarter the received the balance strong distribution decision no network from we similar received MVNO revenues $X.X generation management. Gross period Additionally, million transition non-subsidized to versus base consisting swung result by

segment generation employment was increased profits compensation the XXXX. relates signed expenses management. as stock late due year-over-year. deemphasis Increase of to The primarily additional our in that Additionally, stock to a lower in non-cash resulted gross well. SG&A business compensation by XXX% in for agreements lead

a in overhaul for also company provide specifically million consulting investment engaged company year and for engaged our contractors outdated The identify store a at the services, compared $XX.X area was fees. additional to from level the contractor transaction the increase from quarter second to to We the ago the a in with to operations $X.X of profit value. Loss advisory million opportunities period. the consultants expenses had to shareholder relations Verifone platform to financial conversion to during allow also The tablet-based terminal. several

loss per reported net share and $XX.X $X.XX million share were per loss. and loss loss Our

during by ending of and federally ACP loss, impacted loss per adversely share the customers Our funded for were primarily our the quarter. the

and Turning balance liquidity to sheet, the cash flow.

Our to million as June at the quarter. million $XX.X the XXXX, XX, was of end first balance of compared $XX.X cash

to with quarter from second hand. Accounts our by quarter, government. a our first customers lower the end of winding from the up quarter, swing new $X.X source cash funding down funded use in million decreased million the picked was ACP to the second Our in on subscribers in in quarter and accepting cash receivables resulting from the large The in XXXX, to operations versus we the during a the receivable $X.X federal $X.X the negative which February first million quarter. of a stopped million the ACP million in U.S. of $X.X much at $X.X due

cash remarks. the balance federally financing in our capital closing our customers. I ] funded fully for our and Given structure, cash NPO back a transition to some pass now is priority will subsidized the to model call one [ from by Brian allocation

Kevin Cox

much we and key have the Thanks, best distribution success the company's team, Tony. of wireless X time cash transition. I We short-term our million XXXX, currently $XX the the by I caused own the to and believe products, own situation. and today. believe have compelling the the team distribution offering XX, long-term We are a to believe in in have as history your ACP foundation you our despite prepaid our the products. so experienced Thank the June funding. the for funding execute most of assembled most SurgePays the bank components success I has in disruption the market. for

questions. Operator? now will open to call up We the

Operator

first Soderstrom from question today Instructions] is Anja from The Sidoti. coming [Operator

Anja Soderstrom

to going are you any First, the optimistic timeline idea ACP. of And refunded? be you that are course, -- What do how of have of any sort that's you there?

Kevin Cox

the Anja, week-to-week us. a for thanks I'd tell feedback scenario you, question. been it's for

we just if assume action mean, it that, comes date think had doesn't, B. I to let's for I set internally to and internally, take it's move transition it, If August had blunt. X the a wanes our on, take We just that optimism as goes back? ACP ourselves call and set time Great. beyond of to to Plan threshold being

of We are in there are taking still told actions place the that halls Congress.

program the -- even that are negative are But it, now especially on we were sit We a take the who side the J.D. on most had and the Vice earlier, the Republican people of anymore huge told our time, folks as action. since very still about about talked advocate as positive he to same was at about hands President the we pick, program. Vance can't

discounted of we're service plan. transition positioning transition a by regular plan, per after free LinkUp or could broadband more and lot a those prepaid like lot -- company a heavier the forth. wireless the offer these gigabytes let's a, month those a keep customers on remain back a $XX plan the to mobile or that have bandwidth, the for it, much to In accustomed would So or a that they it, have that to offer and more larger want to. regular subsidized world talk let's more that and We plan a to want then $XX a folks Lifeline call $XX them program. But of call ability

help, could service, if wanted if they free stay they to for could in on they paying then Lifeline, ACP So start needed similar the they to that the something the it. more service, have

Anja Soderstrom

any have to read of going who's the on opt for you for initial the LinkUp sort to up going program, Lifeline do who's And Mobile?

Kevin Cox

a free course me that would would instincts going of, to with maintain the paid I tell X stick want people My to is program. they've let's something they're would place X experienced be folks first. gate months, for the plan majority of the a paid the and over it then transition say, And until of think free, opt to the free take plan bump plan. to don't the out would

Anja Soderstrom

Okay. initial And engagement in -- seeing terms ClearLine of reads and then you customer the what platform, there? are

Kevin Cox

of a we ClearLine lot happy I've acquired our the with folks ClearLine. I'm spent time side really things. on of

use that with as enabled was convenience little which good touchscreens, ClearLine. a me, advanced refurbished QR codes are front in finger which lesson away things mentioned, those provides transactions, able digital our to as their lot us ClearLine the the reason of to sign transition people technologically is business familiar be cool model we enrollments transition enable are at things had at business convenience keypad it obviously transactions buttons. over the from a future, at much that future push one store. Also bank the the to they with of The do us, a to terminals ACP They or a goals doing plan had excuse for interface is is Just quick allowed and terminals, -- scanning to card to Tony which such allowed more the Verifone in for history store acquired folks. They to be or really technology to for that not go-to the credit us stores. and

goal you're great the was we it rolled what at Nate, level, an It is helped that focus to for addressed empowered incentivized on distractions next They get quite weeds. good of runs and problem your store -- of having really create at almost and you some high this a level. tad for slides the over. advertising that operational for by had who there all screen the where us, walk off thing see there's wall, to a entrepreneur go customer things need. X, was that running and a posters So great dynamic store it and the the at mounted, into and way us to be currently quite a way, there the have we the to engagement going they've to the to in of -- on really tracked they be It's that instead these just take a a doing pictures. the bit great a going start goal QR had about too a But ClearLine going And right can products. redeemed chains and a just was and It's be They good big because on acquisition to seeing us We not the just bit what ClearLine going larger where and converted business. And you're immediate into it's few down all be don't the but for not going projects up to up accomplish to at were he to going example, codes. time convenience It's to that year team. gentleman out is entire working ClearLine register. of over little got it's few underfunded. were more solution, mom-and-pops, a scenario going want really TVs were manages has of the guys to at stores. And much come be the entrepreneur, about process. that -- projects, a came also into on him all us. But worry to And an I products, that be or the engaging. and with the can

of a market, builder. to works. can be out out same I But high-margin a really As what's about want fact, as know test matter And target chains. because convenience it in products the very call for it rolling and our don't us. cool another into store, we're that it of putting engagement market, is several initial the the relationship it beta we now it's it

for can customers be X, X QR in XX with if ClearLine it's the same hold know out free the in-store That impact of what same do there. That prepaid Mobile. That cool format the a right a all tap wireless their time, in our system allow third-party buy phone transactions, X prepaid sent company marketing, of their products rolling the will that hyper owners, local system also TV, or now. different our you. to smartphone for also enable really in other over have any that And their will that And and ads back chain or office that real is and then will, you them customer to for and got redeem up, owner at same coupon LinkUp distribution So literally stores. their code, is point corner a store to will to convenience the to get of scan activations them top-ups our that's and the do us they'll the register data up walk marketing.

what's it fully -- the it ClearLine that's So capitalize we realized solution, had came we've we again, even addressed sure with I'm with of those. a fantastic But we but deal, year when really with a able plethora problem it. been bought now not But a last opportunities. on that it to

Anja Soderstrom

cash free after about then to And dependent Or -- this year. vision positive? that, for to ACP getting Okay. that free without doing on back be flow you you coming positive for How flow you how talked the cash do back refunded? you you are being

Kevin Cox

question. -- picking own has is those end even The lead wireless No, where do store transactions our of as pro school payments year third-party to appreciate factor there product its the LinkUp be my talked using really to store. It's would of owner remain going the is customers platform. that product I now. product well. to going end want significantly the up starting The spreadsheets, I'm contribute by gone. ramping -- goal out product on Yes. right traction getting gateway about to not cash for a projections ACP. -- by a positive convenience that's ACP taking a prepaid the transitioning to a that and take or in old every would going to free into behind assuming -- flow of the us then our for year company Mobile Lifeline That or and account on could in of The us. the who end assume that getting any being not ClearLine by any modeling be any forma, to flow I'm over the I'm product, the year, the wireless to cash positive we

Operator

Shauger is question Tower Research. Curtis coming The from from Water next

Curtis Shauger

Can you hear me?

Kevin Cox

Yes.

Curtis Shauger

mind opportunities I what to for mitigate are is, ACP to me cost any with experiencing comes think the immediately help the alive? there keep that customers to the carriers you're

Kevin Cox

question. April, due because sold The has going angle carriers when were about. And time that that more an good lot given question scratching discounts, of Tony it a of to the up horizon appreciate you've in funded. head to this pulled back, team a be of maybe a certainty alleviation and our the cost what That's and it me came I call that aggressive discuss lot say, let's and for period management initial I the some goods our on ACP discussing, absolute was it let's a was to first they their of back been but

mean, was a were was in really opera. I Every soap whirlwind. it a day, we It something different. So -- it was

to reason they one the it and say, subscribers. been a put going path is do I lose be that's now, so down to great, right comes is to And believe our the going alleviation this The where to chart." we're obviously, "Hey, is, back, carriers great if ACP If not we foot it's run. doesn't, finally, had why want

some subscribers. Just other out lose can looking don't there the lost want guys AT&T, of see T-Mobile The significant of at they you backbones have subscribers. the out to who market, and

Ronald going from some be to where never necessarily, going to which, folks the think in we're these collectively lifeline I So see -- but keep offering a assistance discounted to on I subscribers would it provide to rates partnership these around glove are like the regular what think let's I've call box service, the where in to been is going just out as could would side I for it and has the ACP, really up provided seen, not program. be was product. offer challenge viable. Reagan. X. almost be it's again, viable quite data, considered But told an wholesale emergency since us of they're the a is the was much it a provide was that Lifeline would be to on The what never plan the we'll is phone service, phone. But basic text, the to -- next there it that's step but find phone user pricing or Lifeline as talk, carriers give And call program or subsidy week that It we're and consumers now with something a just something that that

So that's last where I think up. And have given the they're going of months. look, couple to they step us discounts

was to impression But them, thought funded. our aisle, have across they if I us. Their the folks have those they have So probably be all But were again, board, this factored the a folks that told been everybody things the going would more. shouldered they they under sides us, stepped faster moved bit. that everybody not, had in, complete it have of it up needle funded. it told and both the for would would wish were little we

I back taken cash think little wasn't. of -- on X a here we're positive B, pass And why we've to still get to But everybody is Plan from it August get back flow off guard, go and that start day now. then to that's there. bit caught

Operator

XXX Andrew next Scott question Group. The be from from will

Unknown Analyst

it be your would with way payment guys fastest any like flow business a truly Lifeline? acquisitions and you models, I've in to enough guys you heard you accretive cash just get out ideas I'm processing? the other back other thought It about that at Would regarding know in what's outlined cash But sounds are like you look consider And than on addition were period of guys the there. now. kind have right to questions to I breakeven. lot. there. talk a of acquisitions you a have more challenging answered And synergistic you lot looks Lifeline about it call, it other whether on positivity -- had -- you still any I

Kevin Cox

in we're question, mode the for evaluating. you a Thank yes, And of constantly Yes. Andrew.

right let's dealing one it the the company call that want to rather stacking to gold upward buy in we're revenue. But of in just macro I to more the flow that and say of [ and a or or bank like a painting the a acquisitions. go out bank either bank. and don't the We is through have a sifting ] company Let's and with what environment have I've buy think because ACP I'd zoom think sorting and little And kind cash in is just just for than now, flow and company unique less have for have cash mantras growing dying. the of you're depleting you're buy a I had little cash with

coming for it's transition. who And or tough their just survive keep yes, up had entrepreneurial of where look, heads but people an transitions that's the world that to during So a old school we went or mentality environment, the environments. opportunities you out from tough business. during And it's a

the when that toughest. I our think gains team made we've times were biggest the we have,

now. are say, not There's opportunity. services. There's bilingual for opportunities looking them a their There's companies. opportunities millions elbows and there out see we immigration who and high-level as benefits just for built elbows and is get survive. There's to the who to of crawling at that primarily from across our scratch, built way lot And wireless with So one the glass, wireless team is that Hispanic, the right of an alternate for there. going entrepreneurs enjoy knees this a former nothing, communicate to whole customers all of be from to out I opportunities lot of prepaid the out of there

money far this that but to through no than worse We've this. been things So we've been things are all the similar through in bank.

corporate we've the folks folks intelligent Gomez, very as the survivors, as with of larger from bring well. Jeremy people about world together carriers, Gies, we're who we huge talked aspect added And wireless Joe with the then So networks.

That we And and of that's a fantastic look timeframe, sheet. So we're why the around, team, has million We to acquisitions. built bill. never we're this. rush be from nature same was back ACP, It of I'm ACP that we now gold us picked been company. we're like balance by our make over able strengthened if that and -- funded the mean rush -- again. mission, product where to opportunity. If was not the stayed our say to -- a one a being whatever. it -- a it's was the up just able going and a we're strengthen we I year we've land $XXX and a fine will intention for obviously, We're look but not not sit here it necessarily some made

So the not I do, have one stores. And it. just of of we and a to your company. distributing kind that of the sometimes if would the We're either We're look that goals into look, just thing. at of company way company always these question, ACP we're of ACP open and wireless not Yes, think we depletion us And summarizing because the the you part in, has grow last course. not an things a way, convenience acquisitions made zero bad it's

our is remember Just go the goals and what last your our X why you pencil And goals goal back, more and together who you are, been months. we've sharpen focused -- on your put were. for this

who not been to it's we ACP really has there? in was we -- focus X get and -- this to we to for X but us are to who around, how bad exercise, actually as be, years big are want forward So on still again, going looking picture a

Unknown Analyst

corporate on buyback. nice a really Guys, idea. it. was That Got touch the good

Operator

Ed from from be will Capital. question next Woo the Ascendiant And

Edward Woo

you convenience the My is the And in really obviously, business? has the relationship the that have of with a direct underserved changed? it market And with outlook? stores. your underserved are you how terms has customers. impacted economic question guys hearing What And through

Kevin Cox

the question. for thanks Ed,

the that's way that think looking I a position is feedback consumers engaging. things cultivating feedback the that is one the for maybe wireless more to of been it something relates specific And to as world. are we've

it past similar. But Jones platform know carriers, it of consolidation underbanked is. of at of And prepaid brands the a underbanked, good market larger what merged not we've been talked T-Mobile Sprint the As is the there's and that the acquired affected quite far in the Sprint a the X or segment offering the always T-Mobile, we society Dow what out previously obviously, few a kind maintains economy, look you necessarily or And as X the and consumers for Verizon Sprint, acquired. where to been then is pretty And country, stays these or was they years. AT&T, larger there's it the that and companies. times it by X is underserved lot GDP if of of times or there, is stagnant really bad about

next in But comes downward when now bucks that the environment. -- bidding I you're a down the call offers the then we for along that it value-added and -- same of couple that in less, So can there's out compete something our prepaid huge a we to the can can not opportunity wireless, for No. text That's talk, mean, game. think plan there always offer due cheapest data. I efficiencies, and just who we

we've what subsidiaries. pull you think and adding we unique from of our that put start the some can components that when I together

-- There's offering of folks for can without when that coupon that stores register. And pay integrated work the sent that lot convenience really the texted is out LinkUp guys the trying to customers, differentiate we a ways unique to a is the other be and just coupons cheapest. there ClearLine from are Mobile company of one of the they with can our intent their utilize we For that for company, to redemption but is what example, that bill.

we're also one that's we're the we the of with feedback The the States. agents, now, of gotten that feedback melting right XX-plus master that lot right that and to probably things got. of a that. all hearing feedback finished just right So are up want significant international XXX,XXX opportunity it we're We're we that integrating or offering monthly either integrating known with here a we've we're United all. we -- now know to obviously, pot -- getting that pretty out go is which with, can out And in there. There's there's with a the strengthen X activations to the and now. be that, some try that carve through in, to We just we're from the We if month. we able to integrating a there's there's of of the activations didn't that XXX,XXX Ed, take the have between masters of little wanted API

to are -- because them direct. international of there our To other distance, we you was and strengthen offering to use WhatsApp One these people dial long of need that call don't just still still people and Telegram want some apps.

look the that We XX XX, that on to have together working days. now. offering in we're next right So

over. -- was that one not Historically, numbers over prepaid for decade. number a telephone customer important back porting that other really goes the that was The

get the it connected Here recently, the number, attached everything to passwords is is you other and the -- -- mechanisms that to your all is where now authorize -- are number, your that text messages to what forgotten phone important. your

all numbers, are heavily we now something on we a the to else go more So port right that subscribers. that's those that integrating so get ability little can

from to let's more from from feedback these us the focuses I've get when who able achieve. be been thing. look want for big directly to to stores. we've now X our, -- I master Those Like year, because -- whole feedback look agent So the the call just and directly the right never of by our are stores, I about it, down mean, said, somebody the look, piece, end wants I goals talked a we the

this to that right X to it and take so what And maximize happening doing right activations to XXX,XXX these hey, now. And use we're can Ed. it's strategy something need knock we executing we're our out not to That's it. feedback -- see steps and can month, we I that a X if or advantage. So the It's is take hearing just now. feedback, a all

XX team. think, along so our a have coming be and not matter booked, members, guys. out into XX with to the We're rolling the we of and I of in we sun one and a personally about, And I'm And we're -- to fact, will being with weeks, As products. up X of year. convention meetings also run. these top all sales team of we've be coming have got the of down prepaid the we're strong, in we largest coming in

question appreciate you stay the as forward look always, and to from I again. tuned. So hearing

Operator

And that you does your Thank the end is disconnect time. today's lines this conference, may This you and at our of conclude for session Q&A today. your participation.

SurgePays (SURG) 13 Aug 242024 Q2 Earnings call transcript