Austin, Texas [May 11, 2022] (ORIGINAL: GLOBE NEWSWIRE) – Phunware, Inc. (NASDAQ: PHUN) (“Phunware” or the “Company”), the pioneer of Location Based SaaS and offers the only fully integrated enterprise cloud platform for mobile that enables brands to engage, manage and monetize their anytime, anywhere users worldwide, today announced financial results for the quarter ended March 31, 2023.
“This past quarter we expanded our breadth of reach and depth of engagement with major brands for our market-leading Location Based Platform,” said Russ Buyse, CEO of Phunware. “We are thrilled to add Siemens as a channel partner through their Siemens Connect Ecosystem. Partners like Siemens are a prime example of the types of relationships we intend to forge and will be a key accelerator for bookings on our Platform in 2023 and beyond. I’m also encouraged by the progress made by major brands moving deeper through our sales pipeline. At the same time, our product team made huge strides in realizing our vision for Contextual Engagement on our Platform. Phunware gives brands the tools and reach to enhance the consumer experience, increase customer satisfaction and provide a strong return on investment. Looking ahead, we intend to continue ramping our go-to-market efforts to capture as much market share as possible.”
First Quarter 2023 Financial Results
- Net revenues for the quarter totaled $4.7 million
- Platform revenues were $1.3 million
- Hardware revenues were $3.4 million
- Net loss was $(4.3) million
- Net loss per share was $(0.04)
- Non-GAAP Adjusted EBITDA loss was $(5.6) million
Recent Business Highlights
- Notable Corporate and Product Developments:
- Phunware to Present at the 18th Annual Needham Technology & Media Conference on May 16, 2023
- Received Notice of Allowance for United States Patent for Innovative Geofence Event Prediction Technology
- Released Experience Optimizer for Mobile Applications
- Announced Stock Repurchase Plan
- Notable Customer and Partner Wins:
Conference Call Information
Phunware management will host a conference call today (May 11, 2023) at 4:30 p.m. Eastern Time (1:30 p.m. Pacific Time) to discuss its financial results for the quarter ended March 31, 2023.
Interested parties may access the conference call by dialing 888-506-0062 in the United States, or 973-528-0011 from international locations with access code: 196075. The conference call will be broadcast live and available for replay here and via the investor relations section of the Company’s website at investors.phunware.com.
Safe Harbor Clause and Forward-Looking Statements
This press release includes forward-looking statements. All statements other than statements of historical facts contained in this press release, including statements regarding our future results of operations and financial position, business strategy and plans, and our objectives for future operations, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “expose,” “intend,” “may,” “might,” “opportunity,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “will,” “would” and similar expressions that convey uncertainty of future events or outcomes are intended to identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.
The forward-looking statements contained in this press release are based on our current expectations and beliefs concerning future developments and their potential effects on us. Future developments affecting us may not be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) and other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, those factors described under the heading “Risk Factors” in our filings with the Securities and Exchange Commission (the “SEC”), including our reports on Forms 10-K, 10-Q, 8-K and other filings that we make with the SEC from time to time. Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. These risks and others described under “Risk Factors” in our SEC filings may not be exhaustive.
By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. We caution you that forward-looking statements are not guarantees of future performance and that our actual results of operations, financial condition and liquidity, and developments in the industry in which we operate may differ materially from those made in or suggested by the forward-looking statements contained in this press release. In addition, even if our results or operations, financial condition and liquidity, and developments in the industry in which we operate are consistent with the forward-looking statements contained in this press release, those results or developments may not be indicative of results or developments in subsequent periods.
Phunware uses and intends to continue to use its Investor Relations website as a means of disclosing material nonpublic information and for complying with its disclosure obligations under Regulation FD. Accordingly, investors should monitor the Company’s Investor Relations website, in addition to following the Company’s press releases, SEC filings, public conference calls, presentations and webcasts.
About Phunware, Inc.
Everything You Need to Succeed on Mobile — Transforming Digital Human Experience
Phunware, Inc. (NASDAQ: PHUN), the pioneer of Location Based SaaS and offers the only fully integrated enterprise cloud platform for mobile that enables brands to engage, manage and monetize their anytime, anywhere users worldwide. Phunware’s Software Development Kits (SDKs) include location-based services, mobile engagement, content management, messaging, advertising, loyalty (PhunCoin & PhunToken) and analytics, as well as a mobile application framework of pre-integrated iOS and Android software modules for building in-house or channel-based mobile application and vertical solutions. Phunware helps the world’s most respected brands create category-defining mobile experiences, with approximately one billion active devices touching its platform each month when operating at scale. For more information about how Phunware is transforming the way consumers and brands interact with mobile in the virtual and physical worlds, visit https://phunware.com and follow @phunware on all social media platforms.