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SurgePays Reports 2024 Financial Results and Issues Revenue Guidance of Over $200 Million in Next 12 Months

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Completed AT&T integration positions company for its most aggressive growth phase to date with projected positive cash flow from operations in 2025

BARTLETT, Tenn., March 25, 2025 /PRNewswire/ — SurgePays, Inc. (Nasdaq: SURG) (“SurgePays” or the “Company”), a wireless and point of sale technology company, today announced its financial results for the year ended December 31, 2024, and is issuing guidance of over $200 million in revenue over the next 12 months and positive cash flow from operations before the end of 2025, following the successful integration and official launch with AT&T.

Brian Cox, Chairman and CEO, commented, “We built the infrastructure. Now we are scaling. With AT&T integration complete and LinkUp Mobile launching nationally, SurgePays is positioned for the most aggressive revenue growth phase in our history.”

2024 Operational Highlights:

Nationwide Launch of LinkUp Mobile: SurgePays has begun its national rollout of its retail prepaid wireless brand, LinkUp Mobile. The Company expects monthly SIM card shipments of 250,000–300,000, driven by robust demand from its retail distribution network of nearly 9,000 convenience and community stores.AT&T Integration Complete: In November 2024, SurgePays signed a multi-year strategic agreement with AT&T to deliver full access to 4G LTE and 5G wireless services across North America. As of April 1, 2025, the integration is complete and live.MVNE Wholesale Business Launch: SurgePays now offers wireless infrastructure services, including SIM provisioning and billing, to other wireless companies as a Mobile Virtual Network Enabler (MVNE). This high-margin revenue channel is expected to scale rapidly.Lifeline Subscriber Retention: Following the end of ACP funding, SurgePays retained a portion of its wireless subscriber base and is transitioning eligible customers to the federally supported Lifeline program. Daily Lifeline enrollments are ongoing through the Company’s Torch Wireless brand.POS Platform Growth: SurgePays’ point-of-sale software platform, used in thousands of retail locations, grew prepaid wireless top-up revenue over 400% from Q1 to Q2 2024. The POS platform is a critical distribution and activation tool for both LinkUp Mobile and third-party services.Leadership Expansion: The Company strengthened its leadership team with the promotion of Mark Garner to Executive Vice President, and Allison Seyler to VP of Sales.

2024 Financial Results:

2024 marked the end of the federally funded ACP era. As expected, revenue and gross profit were impacted. However, strategic investments made during this transition — including AT&T integration, POS growth, and the development of our MVNE platform — have built the foundation for 2025’s goal to return to growth and profitability.

2025 Financial Guidance:

SurgePays expects first quarter 2025 revenue to remain consistent with Q4 2024. With the national launch of LinkUp Mobile and expanding MVNE partnerships, revenue is projected to exceed $200 million over the next 12 months and the Company anticipates achieving positive cash flow from operations before the end of 2025.

This guidance is based solely on the monetization of core MVNO and POS platforms already deployed. As these platforms scale — both through direct customer acquisition and wholesale MVNE relationships — we anticipate expanding both revenue and margins.

“We’ve earned the right to scale,” added Mr. Cox. “The heavy lifting is behind us. Now we are focused on execution, revenue acceleration, and delivering long-term value to shareholders.”

Fourth Quarter 2024 Results Conference Call:

SurgePays management will host a webcast today at 5 p.m. ET / 2 p.m. PT to discuss these results.

The live webcast of the call can be accessed on the Company’s investor relations website at ir.surgepays.com, or by registering at the following link: Fourth Quarter Results Call.

Telephone access:
– U.S.: 888-506-0062
– International: 973-528-0011
– Participant Access Code: 937037

A telephone replay will be available approximately one hour following completion of the call until April 8, 2025.
Replay: 877-481-4010 (U.S.) or 919-882-2331 (Intl.)
Replay Passcode: 52151

About SurgePays, Inc.

SurgePays, Inc. is a wireless and point-of-sale (POS) technology company. SurgePays operates a unique ecosystem that blends prepaid wireless, government-subsidized mobile plans, and a point-of-sale software platform used in thousands of community retail stores. SurgePays is a platform — built for stores in underserved communities, built to scale, and built for growth. Please visit www.SurgePays.com for more information.

Cautionary Note Regarding Forward-Looking Statements

This press release includes express or implied statements that are not historical facts and are considered forward-looking within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act. Forward-looking statements involve substantial risks and uncertainties and generally relate to future events or our future financial or operating performance. These statements may include projections, guidance, or other estimates regarding revenue, cash flow, business growth, market expansion, or customer acquisition. In some cases, you can identify forward-looking statements by the following words: “may,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “ongoing,” “attempting,” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words.

Although we believe the expectations reflected in these forward-looking statements, such as regarding our revenue and profitability potential along with the statements under the heading 2025 Financial Guidance are reasonable, these statements relate to future events or our future operational or financial performance and involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. Furthermore, actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors that are beyond our control, including, without limitation, the assumption that revenue is projected to exceed $200 million over the next 12 months and the Company anticipates achieving positive cash flow from operations before the end of 2025, statements about our future financial performance, including our revenue, cash flows, costs of revenue and operating expenses; our anticipated growth; and our predictions about our industry. These include, but are not limited to, our ability to scale our prepaid wireless business, transition ACP subscribers to Lifeline, maintain our MVNE partnerships, and achieve financial targets. The forward-looking statements contained in this release are also subject to other risks and uncertainties, including those more fully described in our filings with the Securities and Exchange Commission (“SEC”), including in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023 and the to-be-filed Annual Report on Form 10-K for the fiscal year ended December 31, 2024. The forward-looking statements in this press release speak only as of the date on which the statements are made. We undertake no obligation to update, and expressly disclaim the obligation to update, any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law.

 

SurgePays, Inc. and Subsidiaries

Consolidated Balance Sheets

 

December 31,
2024

December 31,
2023

Assets

Current Assets

Cash and cash equivalents

$

11,790,389

$

14,622,060

Restricted cash – held in escrow

1,000,000

Accounts receivable – net

3,000,209

9,536,074

Inventory

1,781,365

9,046,594

Prepaids and other

298,360

161,933

Total Current Assets

17,870,323

33,366,661

Property and equipment – net

591,088

361,841

Other Assets

Note receivable

176,851

176,851

Intangibles – net

1,472,962

2,126,470

Internal use software development costs – net

539,424

Goodwill

3,300,000

1,666,782

Investment in CenterCom

464,409

Operating lease – right of use asset – net

564,781

387,869

Deferred income taxes – net

2,835,000

Total Other Assets

5,514,594

8,196,805

Total Assets

$

23,976,005

$

41,925,307

Liabilities and Stockholders’ Equity

Current Liabilities

Accounts payable and accrued expenses

$

3,929,195

$

6,439,120

Accounts payable and accrued expenses – related party

192,845

1,048,224

Accrued income taxes payable

570,000

Deferred revenue

20,000

Operating lease liability

248,069

43,137

Note payable – related party

1,689,367

4,584,563

Total Current Liabilities

6,059,476

12,705,044

Long Term Liabilities

Note payable – related party

1,866,288

Notes payable – SBA government

469,396

460,523

Operating lease liability

319,232

356,276

Total Long Term Liabilities

2,654,916

816,799

Total Liabilities

8,714,392

13,521,843

Stockholders’ Equity

Common stock, $0.001 par value, 500,000,000 shares authorized 20,431,549 shares issued and 20,068,929 shares outstanding, respectively, at December 31, 2024 14,403,261 shares issued and outstanding at December 31, 2023

20,435

14,404

Additional paid-in capital

76,842,878

43,421,019

Treasury stock – at cost (362,620 and 0 shares, respectively)

(631,967)

Accumulated deficit

(60,915,427)

(15,186,203)

Stockholders’ equity

15,315,919

28,249,220

Non-controlling interest

(54,306)

154,244

Total Stockholders’ Equity

15,261,613

28,403,464

Total Liabilities and Stockholders’ Equity

$

23,976,005

$

41,925,307

 

SurgePays, Inc. and Subsidiaries

Consolidated Statements of Operations

For the Years Ended December 31,

2024

2023

Revenues

$

60,881,173

$

137,141,832

Costs and expenses

Cost of revenues

75,205,372

101,499,341

General and administrative expenses

27,458,152

16,777,107

Total costs and expenses

102,663,524

118,276,448

Income (loss) from operations

(41,782,351)

18,865,384

Other income (expense)

Interest expense

(554,200)

(595,975)

Loss on lease termination – net

(194,863)

Other income

636,868

Interest income

105,395

Realized gains – investments

13,613

Dividends, interest, and other income – investments

355,549

Gain on investment in CenterCom

33,864

110,203

Impairment loss – CenterCom

(498,273)

Impairment loss – internal use software development costs

(316,594)

Impairment loss – goodwill

(866,782)

Total other income (expense) – net

(1,285,423)

(485,772)

Net income (loss) before provision for income taxes

(43,067,774)

18,379,612

Provision for income tax benefit (expense)

(2,870,000)

2,265,000

Net income (loss) including non-controlling interest

(45,937,774)

20,644,612

Non-controlling interest

(208,550)

26,709

Net income (loss) available to common stockholders

$

(45,729,224)

$

20,617,903

Earnings per share – attributable to common stockholders

Basic

$

(2.39)

$

1.45

Diluted

$

(2.39)

$

1.38

Weighted average number of shares outstanding – attributable to common stockholders

Basic

19,119,181

14,258,172

Diluted

19,119,181

14,922,881

 

SurgePays, Inc. and Subsidiaries

Consolidated Statements of Cash Flows

 

For the Years Ended December 31,

2024

2023

Operating activities

Net income (loss) – including non-controlling interest

$

(45,937,774)

$

20,644,612

Adjustments to reconcile net income (loss) to net cash provided by (used in) operations

Bad debt expense

90,009

Depreciation and amortization

942,450

935,039

Amortization of right-of-use assets

126,970

43,483

Amortization of internal use software development costs

222,830

129,060

Impairment loss – CenterCom

498,273

Impairment loss – internal use software development costs

316,594

Impairment loss – goodwill

866,782

Stock issued for services

411,740

1,290,024

Recognition of stock based compensation – unvested shares – related parties

6,752,706

529,534

Recognition of stock-based compensation

1,602,997

Recognition of share based compensation – options

576,625

Recognition of share based compensation – options – related party

6,196

37,176

Realized gain in sale of investments

(13,613)

Interest expense adjustment – SBA loans

19,750

Right-of-use asset lease payment adjustment true up

(267,347)

Gain on equity method investment – CenterCom

(33,864)

(110,203)

Cash paid for lease termination

(212,175)

Loss on lease termination – net

194,863

Changes in operating assets and liabilities

(Increase) decrease in

Accounts receivable

6,535,865

(395,718)

Inventory

7,265,229

2,139,648

Prepaids and other

(136,427)

(50,409)

Deferred income taxes – net

2,835,000

(2,835,000)

Increase (decrease) in

Accounts payable and accrued expenses

(2,509,925)

654,746

Accounts payable and accrued expenses – related party

(356,388)

(680,497)

Accrued income taxes payable

(570,000)

570,000

Installment sale liability – net

(13,018,184)

Deferred revenue

(20,000)

(223,110)

Operating lease liability

148,665

(39,490)

Net cash provided by (used in) operating activities

(21,310,603)

10,287,345

Investing activities

Purchase of property and equipment

(518,189)

Purchase of investments – net

(10,159,444)

Proceeds from sale of investments

10,173,057

Cash paid for acquisition of Clearline Mobile, Inc. assets

(2,500,000)

Capitalized internal use software development costs

(281,304)

Net cash used in investing activities

(3,004,576)

(281,304)

Financing activities

Proceeds from stock issued for cash

17,249,994

Proceeds from exercise of common stock warrants

8,799,257

207,240

Cash paid as direct offering costs

(1,395,000)

Repayments of loans – related party

(1,527,899)

(1,017,385)

Repayments on notes payable

(1,595,167)

Repayments on notes payable – SBA government

(10,877)

(14,323)

Treasury shares repurchased (share buy-backs)

(631,967)

Net cash provided (used in) by financing activities

22,483,508

(2,419,635)

Net increase (decrease) in cash, cash equivalents and restricted cash

(1,831,671)

7,586,406

Cash, cash equivalents and restricted cash – beginning of year

14,622,060

7,035,654

Cash, cash equivalents and restricted cash – end of year

$

12,790,389

$

14,622,060

Supplemental disclosure of cash flow information

Cash paid for interest

$

470,208

$

222,326

Cash paid for income tax

$

$

Supplemental disclosure of non-cash investing and financing activities

Reclassification of accrued interest – related party to note payable – related party

$

498,991

$

Exercise of warrants – cashless

$

41

$

Termination of ROU operating lease assets and liabilities

$

327,139

Right-of-use asset obtained in exchange for new operating lease liability

$

664,288

$

 

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SOURCE SurgePays

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Technology

BTQ Technologies’ QSSN Selected as Core Security Infrastructure for South Korea’s First Bank-Led KRW Stablecoin Proof-of-Concept

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BTQ provides strategic advisory support and QSSN as core PQC security infrastructure for the iM Bank initiative on the Kaia mainnet, advancing post-quantum migration across global financial infrastructure

BTQ has been selected as the core post-quantum cryptography security technology provider for South Korea’s first bank-led KRW stablecoin proof-of-concept, delivering its Quantum Secure Stablecoin Settlement Network (“QSSN”) for the initiative.
 BTQ is providing strategic advisory support and helping coordinate implementation across the partnership with iM Bank and Finger, supporting the integration of post-quantum protections into regulated digital money infrastructure.
 Built on the Kaia mainnet, the proof-of-concept is connected to the blockchain ecosystems originally developed by Kakao and LINE, linking the initiative to two of the largest messaging and digital platform ecosystems in Korea and Japan.

VANCOUVER, BC, May 6, 2026 /PRNewswire/ – BTQ Technologies Corp. (“BTQ” or the “Company”) (Nasdaq: BTQ) (CBOE CA: BTQ), a global quantum technology company focused on securing mission-critical networks, today announced that it it has been selected as the core PQC security technology provider through its Quantum Secure Stablecoin Settlement Network (“QSSN”) in a proof-of-concept with its Korean strategic partner, Finger Inc. (“Finger”), and iM Bank, a leading Korean commercial bank, for South Korea’s first bank-led Korean won stablecoin infrastructure incorporating post-quantum cryptography (“PQC”).

The proof-of-concept represents more than a technical pilot. It marks an important step in bringing next-generation quantum security into banking infrastructure within Korea’s regulated financial system. In addition to providing QSSN as the core PQC security framework, BTQ is contributing consulting and strategic coordination across the three-way partnership, helping align the project’s security architecture, implementation approach, and long-term post-quantum migration objectives.

“Post-quantum migration requires more than a cryptographic upgrade. It requires coordination across infrastructure, implementation, and institutional stakeholders,” said Olivier Roussy Newton, Chief Executive Officer of BTQ Technologies. “In this initiative, BTQ is providing both strategic advisory support and QSSN as the post-quantum security architecture, while helping lead coordination across the three-way partnership. We believe this proof-of-concept demonstrates how financial institutions can begin integrating quantum-resilient protections into digital money systems in a practical and operationally viable way.”

South Korea’s First Bank-Led PQC Stablecoin Infrastructure Initiative

BTQ is working alongside iM Bank and Finger on a three-way initiative to validate the issuance and distribution infrastructure for a Korean won stablecoin. In addition to supplying QSSN as the PQC security layer, BTQ is providing consulting support and helping to guide coordination across the partnership as the parties evaluate how to integrate post-quantum protections into bank-led digital asset infrastructure.

The proof-of-concept will validate several key components, including real-time reconciliation between bank reserves and blockchain-issued supply, a global-standard smart contract architecture, connectivity to global infrastructure for overseas distribution, and the integration of a PQC-based dual-signature security structure. By applying BTQ’s PQC signature architecture alongside the existing ECDSA cryptographic framework, the system is designed to preserve operational continuity for financial institutions while proactively addressing future quantum computing threats.

Built on Kaia Mainnet

A notable feature of the proof-of-concept is that it will be implemented on the Kaia mainnet, one of Korea’s leading Layer 1 blockchain networks. Kaia was created through the merger of Klaytn, the blockchain originally developed by Kakao, and Finschia, the blockchain associated with LINE. Kakao and LINE sit at the center of two of the largest messaging and digital platform ecosystems in Korea and Japan, respectively, making Kaia a significant piece of regional digital infrastructure.

Klaytn previously participated in the Bank of Korea’s CBDC pilot ecosystem, and the Bank of Korea has continued to advance CBDC testing through initiatives such as Project Hangang.

By combining BTQ’s PQC technology with blockchain infrastructure tied to the Kakao and LINE ecosystems, the proof-of-concept is intended to establish a model that aligns institutional-grade security, blockchain scalability, and evolving regulatory requirements for digital money infrastructure.

QSSN as the Security Layer

The PQC security foundation for the initiative is BTQ’s Quantum Secure Stablecoin Settlement Network, or QSSN, a quantum-secure network architecture designed for stablecoin, tokenized deposit, payment, and digital asset infrastructure. QSSN is designed to protect critical issuer functions, including stablecoin issuance, burning, transfer authority, upgrade control, and administrative permissions, by integrating PQC-based signatures while maintaining existing user experience and operational workflows.

BTQ has previously announced that QSSN was highlighted in the U.S. Post-Quantum Financial Infrastructure Framework (“PQFIF”) as a model architecture for post-quantum digital money infrastructure. The Company has also positioned QSSN as a standards-oriented initiative advanced through QuINSA and aligned with emerging post-quantum financial infrastructure requirements.

Addressing the Harvest-Now, Decrypt-Later Risk

The timing of the proof-of-concept reflects the growing urgency surrounding the “Harvest-Now, Decrypt-Later” risk, in which attackers may collect encrypted financial data today and decrypt it later once sufficiently advanced quantum capabilities emerge. Global institutions are already accelerating post-quantum migration. The U.S. National Institute of Standards and Technology (“NIST”) has finalized its first set of post-quantum cryptography standards, including ML-DSA, ML-KEM, and SLH-DSA, while major technology companies and financial institutions continue to define their own post-quantum transition timelines.

BTQ’s QSSN addresses this challenge through a dual-signature design that allows existing ECDSA-based infrastructure to operate in parallel with NIST-aligned PQC signatures such as ML-DSA. This approach enables banks and payment infrastructure providers to begin a phased transition toward quantum-safe security without disrupting existing systems.

Expanding BTQ’s Korean Ecosystem

BTQ continues to expand its Korean ecosystem across digital assets, payments, banking infrastructure, and hardware-based security. In October 2025, BTQ announced that Finger had joined Danal as an early participant in BTQ’s QSSN pilot program, with the initiative expected to progress from proof-of-concept toward commercialization under QuINSA-aligned guidelines and broader industry frameworks such as PQFIF.

The commencement of the iM Bank proof-of-concept represents an important commercial signal for BTQ, indicating that demand for post-quantum migration among Korean financial institutions is beginning to move from policy discussion toward infrastructure-level implementation. As Korea advances both quantum technology policy and stablecoin-related regulatory discussions, BTQ believes QSSN is well positioned at the intersection of regulated finance, digital asset infrastructure, and post-quantum security.

About iM Bank
iM Bank is a South Korean commercial bank and a subsidiary of DGB Financial Group. Headquartered in Daegu, iM Bank presents itself as a financial companion for customers and traces its roots to Daegu Bank, which was established in 1967 as Korea’s first regional bank. For more information, please visit https://www.imbank.co.kr/

About Finger Inc. Group
Finger supplies and develops financial IT solutions to provide optimized money management strategies for employees and corporate customers. Providing “Smartphone Financial Services”, “Corporate Cash Management Services” for businesses, “Private Wealth Management Services” for private consumers.

Since the year 2000, Finger has accumulated a number of awards and patents regarding its businesses. Based on its Mobile Enterprise Application Platform(MEAP) Orchestra and its funds management system using screen-scrapping technologies, Finger was the first company in Korea to deliver a smartphone banking banking-service. For more information, please visit http://www.finger.co.kr/

About BTQ
BTQ Technologies Corp. (Nasdaq: BTQ | Cboe CA: BTQ) is a quantum technology company focused on accelerating the transition from classical networks to the quantum internet. Backed by a broad patent portfolio and deep technical expertise, BTQ is advancing a full-stack, neutral-atom quantum computing platform spanning hardware, middleware, and post-quantum security solutions for finance, telecommunications, logistics, life sciences, and defense.

Connect with BTQ: Website | LinkedIn | X/Twitter

ON BEHALF OF THE BOARD OF DIRECTORS
Olivier Roussy Newton
CEO, Chairman
Neither Cboe Canada nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Information

Certain statements herein contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Such forward-looking statements or information include but are not limited to statements or information with respect to the business plans of the Company, including with respect to its research partnerships, and anticipated markets in which the Company may be listing its common shares. Forward-looking statements or information often can be identified by the use of words such as “anticipate”, “intend”, “expect”, “plan” or “may” and the variations of these words are intended to identify forward-looking statements and information.

The Company has made numerous assumptions including among other things, assumptions about general business and economic conditions, the development of post-quantum algorithms and quantum vulnerabilities, and the quantum computing industry generally. The foregoing list of assumptions is not exhaustive.

Although management of the Company believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that forward-looking statements or information herein will prove to be accurate. Forward-looking statements and information are based on assumptions and involve known and unknown risks which may cause actual results to be materially different from any future results, expressed or implied, by such forward-looking statements or information. These factors include risks relating to: the availability of financing for the Company; business and economic conditions in the post-quantum and encryption computing industries generally; the speculative nature of the Company’s research and development programs; the supply and demand for labour and technological post-quantum and encryption technology; unanticipated events related to regulatory and licensing matters and environmental matters; changes in general economic conditions or conditions in the financial markets; changes in laws (including regulations respecting blockchains); risks related to the direct and indirect impact of COVID-19 including, but not limited to, its impact on general economic conditions, the ability to obtain financing as required, and causing potential delays to research and development activities; and other risk factors as detailed from time to time. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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SOURCE BTQ Technologies Corp.

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Zimmer Biomet to Present at the BofA Securities 2026 Health Care Conference

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WARSAW, Ind., May 6, 2026 /PRNewswire/ — Zimmer Biomet Holdings, Inc. (NYSE and SIX: ZBH), a global medical technology leader, today announced that members of the Zimmer Biomet management team will participate in the Bank of America Securities Health Care Conference on Wednesday, May 13, 2026, with a fireside chat at 8:40 a.m. PT (11:40 a.m. ET).

A live audio webcast can be accessed via Zimmer Biomet’s Investor Relations website at https://investor.zimmerbiomet.com. It will be available for replay following the fireside chat.

About Zimmer Biomet 
Zimmer Biomet is a global medical technology leader with a comprehensive portfolio designed to maximize mobility and improve health. We seamlessly transform the patient experience through our innovative products and suite of integrated digital and robotic technologies that leverage data, data analytics and artificial intelligence.

With 90+ years of trusted leadership and proven expertise, Zimmer Biomet is positioned to deliver the highest quality solutions to patients and providers. Our legacy continues to come to life today through our progressive culture of evolution and innovation. 

For more information about our product portfolio, our operations in 25+ countries and sales in 100+ countries or about joining our team, visit www.zimmerbiomet.com or follow on LinkedIn at www.linkedin.com/company/zimmerbiomet or X at www.x.com/zimmerbiomet.

Contacts:

 

Media

Investors

Troy Kirkpatrick

David DeMartino

614-284-1926

646-531-6115

troy.kirkpatrick@zimmerbiomet.com

david.demartino@zimmerbiomet.com

Kirsten Fallon

Zach Weiner

781-779-5561

908-591-6955

kirsten.fallon@zimmerbiomet.com

zach.weiner@zimmerbiomet.com

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SOURCE Zimmer Biomet Holdings, Inc.

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NextLadder Ventures Announces Co-Founder Leadership Team, Investment Focus Areas For Over $1 Billion Initiative Empowering Americans with Personalized, Tech-Enabled Support Tools

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New senior hires from Google and The Collaborative Fund to lead product strategy and venture investing

Fund unveils first investment focus areas to catalyze new ‘Navigation Technology’ market, equipping Americans with cutting-edge tools to achieve economic security, opportunity and empowerment

ST. LOUIS, May 6, 2026 /PRNewswire/ — NextLadder Ventures, a new fund backed by more than $1 billion in capital, today announced its priority investment areas for building a new market for “Navigation Technology” (NavTech) — tools that provide Americans with personalized solutions to navigate life’s challenges and achieve greater economic mobility — and announced its co-founding team, including two new senior hires.

The fund’s active focus areas are based on extensive research identifying the key experiences and high-stakes decision points that have an outsized impact on American families’ economic mobility. Launched investment areas include financial health, career navigation, and benefits and social services access, with further exploration underway around housing, legal aid, justice and re-entry, and mental and physical health. 

The organization is also today welcoming two senior leaders: Lauren Loktev is joining NextLadder as Managing Director of Investments and Brigitte Hoyer Gosselink as Managing Director of Product. Loktev was most recently a partner at the Collaborative Fund, where she backed several breakout companies in early child development, education, and sustainability. Gosselink comes to NextLadder from Google, where she led the company’s AI and social impact portfolio. They join a growing team which has deep expertise at the intersection of economic mobility, technology, public policy, and philanthropy.

NextLadder’s Focus Areas for Investment

Today, the fund is kicking off a plan to deploy $1 billion over the next seven years to accelerate the design, development, and deployment of accessible NavTech tools that aim to help families more successfully navigate the major life experiences that determine whether they get ahead or fall behind. As NextLadder’s inaugural frontier AI lab partner, Anthropic is supporting the build-out of the organization’s AI-native capabilities and is offering technical assistance to NextLadder’s portfolio organizations. 

As an increasing proportion of Americans across income levels find themselves overextended and overwhelmed, NavTech tools are designed to help individuals and families understand their options, connect to information and resources, and take action to recover from a setback or take advantage of an opportunity and reclaim their economic futures.

“Life is getting harder, and too many Americans are stuck facing some of the most complex and consequential moments of their lives without much support,” said Ryan Rippel, CEO of NextLadder Ventures. “Every day, millions in this country face fork-in-the-road decisions that have major implications on whether they climb up the economic ladder or fall farther behind. AI has understandably intensified many Americans’ anxieties about their jobs and their security in the economy. But these technologies are now also making it possible to deliver highly personalized, affordable tools to meet the needs of tens of millions of Americans in a way that has never been practically achievable or financially viable before. With NavTech tools, built for the reality of families’ everyday experiences, we can empower Americans to overcome setbacks, navigate life’s toughest financial decisions, and build more secure futures.”

NavTech tools, built with the needs of individuals, families, and trusted community partners at the center of their design, have the potential to ease burdens most acutely faced by 90 million Americans who live in households that have difficulty in paying for usual home expenses, and turbocharge the capacity of the 1.6 million community workers in non-profit or local, state, and federal government roles who serve them. This growing category of digital technologies includes tools that help families access opportunities such as personalized financial advice and legal aid, get connected with available resources and programs, and manage unexpected hurdles like losing a job or facing an eviction – while freeing social workers and service providers to spend more time on people and less time on red tape and paperwork.

The fund’s active investment areas include:

Financial Health: Developing highly personalized, AI-powered financial health tools that can provide tailored, sustained counsel to help users build savings and protect and recover from financial shocks;
Career Navigation: Building tools to support career navigation, manage and support career transitions, and help workers, case managers, and employers identify pathways to living wage work — all designed to help people successfully find the right jobs for them.
Benefits & Social Services Access: Helping eligible Americans seamlessly identify and enroll in all the benefits and social services available to them, particularly those that support career navigation and transitions, help them navigate critical life moments, and achieve stability toward economic opportunity.

NextLadder is exploring additional focus areas, including housing, legal aid, justice and re-entry, caregiving, and mental and physical health. More on the organization’s vision of these focus areas is available HERE.

In addition to backing direct NavTech solutions, NextLadder is investing in the developers, partners, and standards required to build a durable, self-sustaining market. Across all focus areas, the fund is prioritizing efforts to ensure NavTech tools are reliable, protect users’ privacy, and are trusted by the families who depend on them.

NextLadder’s Co-Founder Leadership Team

NextLadder’s five co-founders will be CEO Ryan Rippel, Chief Strategy and Operations Officer Rhett Dornbach-Bender, Chief of Staff Callie Schwartz, and the two new senior hires: Managing Director of Investments Lauren Loktev and Managing Director of Product Brigitte Hoyer Gosselink, rounding out the fund’s expertise in investing, technology, and impact.

“We’re thrilled to welcome Lauren and Brigitte to the NextLadder team,” said Rippel. “Brigitte has spent her career proving that when applied purposefully, AI and technology can deliver meaningful benefits for communities, and she’ll set the bar for what NavTech tools can deliver for American families today and in the years to come. And with her deep experience backing mission-driven founders, Lauren is the perfect leader to build our venture practice from the ground up and accelerate the growth of the NavTech field. With this team in place, we’re positioned to make NavTech tools easier to build, fund, and access so they reach the people who need them most.”

Loktev brings 15 years of venture capital experience investing at the intersection of for-profit and for-good. Most recently at Collaborative Fund, she backed several companies to significant scale and launched Collab+Sesame, a first-of-its-kind thematic seed fund in partnership with Sesame Workshop focused on early childhood education. At NextLadder, she will build and lead the fund’s venture practice, sourcing and scaling investments in the founders building the next generation of NavTech tools.

“We have a once in a generation opportunity to help steer AI solutions toward those who need them most,” said Loktev. “Many amazing, accomplished founders see this too, and they are on a mission to build scalable, transformative businesses in the critical verticals that help people navigate life-changing moments. I couldn’t be more excited to join NextLadder and to support the most inspiring leaders building this market from the ground up. Thanks to our unique, long-term mandate, we can be creative and flexible in investing across stage and check size to partner with the entrepreneurs and leaders we believe will change the world.”

Prior to her role at NextLadder, Gosselink spent over a decade at Google in several roles including Director of AI and Social Impact, directing more than $500 million in funding for organizations applying AI to address challenges including crisis response, education, and economic opportunity. At NextLadder, she will lead AI and product strategy across the fund’s portfolio, backing solutions and setting market-wide standards for how NavTech tools are designed, evaluated, and improved over time.

“If we collectively harness the AI transformation strategically and purposefully, we can transform the way Americans are empowered to access greater economic mobility,” said Gosselink. “We believe that people-centered products, combined with shifts in the market and the services available to families, can fundamentally reshape how millions of Americans navigate critical moments and achieve prosperity on their own terms.”

To request interviews from the NextLadder Ventures leadership team, contact media@nextladder.com.

About NextLadder Ventures

NextLadder Ventures is a time-bound venture with one goal: empower millions of Americans to reach their potential by 2040. Backed by over $1 billion in capital, the organization invests in breakthrough technologies that remove barriers to economic success and put people in control of their futures. NextLadder Ventures is trailblazing a new market for tech-enabled Navigation Technology tools that help people access the resources they need to navigate pivotal moments — offering flexible, risk-tolerant capital to entrepreneurs building these transformative tools today, while creating a pipeline of tech, talent, and capital for the long run.

View original content:https://www.prnewswire.com/news-releases/nextladder-ventures-announces-co-founder-leadership-team-investment-focus-areas-for-over-1-billion-initiative-empowering-americans-with-personalized-tech-enabled-support-tools-302764095.html

SOURCE NextLadder Ventures

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