PT Solusi Sinergi Digital Tbk (SURGE), listed on the Indonesia Stock Exchange under the ticker WIFI, recorded a 192% year-on-year (YoY) increase in revenue to Rp2.96 trillion during the first nine months of 2026, supported by growth in its Internet Rakyat 5G fixed wireless access (FWA) and fiber-to-the-home (FTTH) businesses (29/10).

Revenue from IRA – Internet Rakyat, the company's 5G FWA home internet service, increased 491% quarter-on-quarter (QoQ) to Rp139.6 billion in the third quarter of 2026. Seven months after its commercial launch, the service contributed approximately 10% of SURGE's consolidated quarterly revenue.

For the nine months ended September 30, 2026, EBITDA increased 288% YoY to Rp1.74 trillion, while operating profit rose 139% to Rp1.37 trillion. Consolidated net profit also increased 96% to Rp648.4 billion, reaching Rp648.4 billion.

The company's EBITDA margin improved by 14.6 percentage points to 58.6%, compared with 44% in the same period of 2025.

SURGE Reports Strong Revenue and EBITDA Growth in 2026

SURGE recorded consolidated revenue of Rp2.96 trillion for the first nine months of 2026, compared with Rp1.01 trillion in the same period last year. Gross profit increased 141% to Rp1.66 trillion from Rp689.5 billion.

In the third quarter alone, consolidated revenue reached Rp1.39 trillion, increasing 77% from Rp787.3 billion in the previous quarter. EBITDA rose 56% QoQ to Rp786.3 billion, while operating profit increased 47% to Rp599.2 billion.

Revenue from the company's combined fixed broadband businesses, FTTH and FWA, grew 50% QoQ to Rp800.3 billion. FTTH contributed Rp660.7 billion, up 29%, while FWA revenue reached Rp139.6 billion, representing a 491% increase.

Other wholesale trading contributed Rp468.2 billion to third-quarter revenue.

Internet Rakyat 5G Revenue Increases 491% in Third Quarter

IRA – Internet Rakyat generated Rp163.5 billion in revenue during the first nine months of 2026, following its commercial launch in late February 2026. Approximately 85% of this revenue was generated in the third quarter.

SURGE operated more than 3,100 FWA sites across approximately 94 cities and regencies in Java, Maluku and Papua. Its network also achieved full coverage in 51 cities across Java.

The number of connected FWA customers reached 900,000 as of September 30, 2026, increasing 75% from 513,040 customers at the end of June 2026.

The company offers IRA – Internet Rakyat at Rp100,000 per month through the 1.4 GHz spectrum band held by a SURGE subsidiary. The service is designed for households in areas that are not yet reached by fiber infrastructure.

Shannedy Ong, President Director and Chief Executive Officer of PT Solusi Sinergi Digital Tbk, said affordability and network coverage remain major barriers to broadband adoption in Indonesia.

“Indonesia’s broadband gap is fundamentally about price and reach. Millions of households need a reliable home connection at a price they can afford, and IRA – Internet Rakyat was built precisely for that,” Ong said.

He said the third-quarter results provided evidence that an affordable 5G FWA home internet service could achieve commercial scale.

“This quarter is the first clear evidence that a Rp100,000 5G FWA home internet service can scale commercially. For us, fiber and fixed wireless are complementary: fiber where density justifies the build, 5G fixed wireless where fiber does not yet reach. Our priority now is turning the network we have built into active, satisfied customers,” he said.

FTTH Revenue Jumps 766% to Rp1.61 Trillion

FTTH remained a major contributor to SURGE's financial performance, with revenue increasing 766% YoY to Rp1.61 trillion during the first nine months of 2026, compared with Rp185.5 billion in the same period last year.

The segment accounted for 54.3% of consolidated revenue and approximately 73% of the company's total year-on-year revenue increase.

In the third quarter, FTTH revenue increased 29% QoQ to Rp660.7 billion from Rp511.1 billion in the previous quarter. Combined, FTTH and FWA contributed 59.8% of total revenue during the first nine months of 2026.

According to the Indonesian Internet Service Providers Association (APJII) 2026 survey, fixed broadband is used by 42.3% of internet users in Indonesia, Southeast Asia's largest economy. Fixed wireless accounts for 4.0% of internet users.

The survey also found that 32.9% of people who do not subscribe to fixed broadband identify cost as a reason for not signing up.

SURGE Targets 5,500 FWA Sites by End of 2026

SURGE is targeting approximately 5,500 FWA sites and 3.5 million FTTH homes passed by the end of 2026.

As of September 30, 2026, the company had more than 2,000 FWA sites and 3.2 million FTTH homes passed. Its expansion plans are accompanied by efforts to increase customer activation and network utilization.

During the fourth quarter, SURGE will focus on accelerating customer activation, increasing utilization of its existing network and strengthening service quality.

Shannedy Ong said the company's next phase would focus on making better use of the infrastructure already built.

“The next phase is about utilization, not just footprint. Every site and every home passed that we have built is capacity we can now put to work,” Ong said.

PHOTO: SURGE

This article was created with AI assistance.

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