Financial Performance - For the three months ended September 30, 2025, the Company reported bookings of $50,476,000, a decrease from $2,222,000 in the same period of 2024[91]. - The gross profit for the three months ended September 30, 2025, was $287,000, resulting in a gross margin of 46.1%, compared to a gross profit of $322,000 and a gross margin of 48.4% in the same period of 2024[96]. - Adjusted gross profit for the three months ended September 30, 2025, was $303,000, with an adjusted gross margin of 48.7%, compared to $373,000 and 56.1% in the same period of 2024[99]. - The net loss for the three months ended September 30, 2025, was $(2,409,000), an improvement from a net loss of $(2,760,000) in the same period of 2024[96]. - Net revenue decreased by $43,000, or 6.5%, to $622,000 for the three months ended September 30, 2025, compared to $665,000 in 2024[112]. - Total gross profit decreased by $35,000, or 10.9%, to $287,000 for the three months ended September 30, 2025, compared to $322,000 in 2024[114]. - Total gross profit decreased by $480,000, or 36.5%, to $836,000 for the nine months ended September 30, 2025, compared to $1,316,000 in 2024[116]. Revenue Breakdown - Software subscriptions and services revenue decreased by $18,000, or 3.9%, to $446,000 for the three months ended September 30, 2025, compared to $464,000 in 2024[112]. - Advertising revenue decreased by $25,000, or 12.4%, to $176,000 for the three months ended September 30, 2025, compared to $201,000 in 2024[112]. - Software subscriptions and services gross margin decreased to 38.1% for the three months ended September 30, 2025, compared to 41.8% in 2024[114]. Operating Expenses - Operating expenses increased by $275,000, or 7.8%, to $3,787,000 for the three months ended September 30, 2025, compared to $3,512,000 in 2024[117]. - Sales and marketing expense increased by $181,000, or 29.2%, to $800,000 for the three months ended September 30, 2025, compared to $619,000 in 2024[118]. - Research and development expense increased by $67,000, or 10.9%, to $679,000 for the three months ended September 30, 2025, compared to $612,000 in 2024[122]. - Total operating expenses increased by $3,096,000, or 30.0%, to $13,410,000 for the nine months ended September 30, 2025, compared to $10,314,000 in 2024[117]. Cash Flow and Capital - As of September 30, 2025, the company held total cash of $103.8 million, all in the United States, while continuing to experience operating losses and negative cash flows[126]. - The company utilized $9.3 million in cash from operating activities during the nine months ended September 30, 2025, resulting in a net loss of $9.3 million, which included non-cash charges of $0.6 million[134]. - In comparison, during the same period in 2024, the company used $10.6 million in cash from operating activities, leading to a net loss of $7.7 million[135]. - Management believes it has sufficient cash on hand for at least one year following the filing date of the Quarterly Report despite anticipated operating losses[129]. - The company expects future capital requirements to depend on growth pace, subscription renewals, and investments in AI technology and infrastructure, indicating potential future acquisitions[130]. AI Investments - The Company is investing in artificial intelligence (AI) technologies, including generative AI and agentic AI, to enhance mobile app development and customer engagement[82][88]. - The AI Concierge feature is currently in pilot testing with existing customers, aimed at improving user engagement and monetization opportunities[86]. - The Guest Services Agent feature, designed for hospitality applications, is still in development and testing phases[87]. - The Company does not expect to be profitable in the near future but plans to continue investing in product development and market expansion[89]. Backlog and Deferred Revenue - As of September 30, 2025, the backlog was $2,687,000, down from $3,635,000 as of December 31, 2024, while deferred revenue increased to $2,083,000 from $1,562,000[91]. - Approximately 48% of the backlog as of September 30, 2025, is expected to be invoiced in the subsequent 12-month period[90]. Other Income - Other income for the three months ended September 30, 2025, was approximately $1.1 million, compared to $0.4 million for the same period in 2024, primarily due to interest income from cash and cash equivalents[124]. - For the nine months ended September 30, 2025, total other income was approximately $3.3 million, up from $1.3 million in 2024, driven by increased interest income and a prior gain on extinguishment of debt[125]. Financing Activities - The company sold 14,210 shares of common stock under its Equity Distribution Agreement with Canaccord for gross cash proceeds of approximately $0.1 million during the nine months ended September 30, 2025[128]. - Financing activities in the nine months ended September 30, 2025, included various sales of common stock, with net cash provided by financing activities amounting to $80 thousand[132]. - The company did not engage in any investing activities during the nine months ended September 30, 2025, and 2024[137].

Group 1 - Proactive specializes in providing fast, accessible, and actionable business and finance news content to a global investment audience [2][3] - The company focuses on medium and small-cap markets while also covering blue-chip companies, commodities, and broader investment stories [3] - Proactive's news team operates from key finance and investing hubs, including London, New York, Toronto, Vancouver, Sydney, and Perth [2] Group 2 - The company employs technology to enhance workflows and improve content production [4][5] - Proactive utilizes automation and software tools, including generative AI, while ensuring all content is edited and authored by humans [5]

Phunware Reports Third Quarter 2025 Financial Results Consistent Product Revenue, Customer Momentum and Strong Liquidity Positioning the Company for New AI Technology Integration and Corporate Initiatives AUSTIN, Texas – November 6, 2025 – Phunware, Inc. ("Phunware", or the "Company") (NASDAQ: PHUN), the enterprise cloud platform for mobile that provides products, solutions, data, and services for brands to engage, manage and monetize global audiences, today reported financial results for the third quarter ...

Core Insights - Phunware, Inc. reported a decrease in net revenue of 6.5% to $0.6 million for Q3 2025 compared to $0.7 million in Q3 2024, while gross margin decreased to 46.1% from 48.4% in the same period [6] - The company is focused on integrating AI technologies into its product offerings, particularly with the launch of the AI Concierge product, which aims to enhance customer engagement in the hospitality sector [4][12] - Phunware's liquidity remains strong with cash and cash equivalents of $103.8 million as of September 30, 2025, allowing for continued investment in product development and sales initiatives [6][4] Financial Highlights - Net loss improved to $2.4 million in Q3 2025 from $2.8 million in Q3 2024, with net loss per share improving to ($0.12) from ($0.25) [6] - Operating expenses increased, with sales and marketing expenses rising to $800,000 in Q3 2025 from $619,000 in Q3 2024 [22] - Adjusted EBITDA for Q3 2025 was ($3.34 million), compared to ($2.89 million) in Q3 2024, indicating ongoing operational challenges despite improvements in net loss [22][8] Recent Business Highlights - The company is advancing its AI Concierge product, currently in pilot testing with positive initial feedback from a hospitality partner [4] - Phunware is expanding its sales initiatives and has appointed Jeremy Krol as Interim CEO, focusing on enhancing its product offerings and customer engagement strategies [6][4] - Investments in sales and marketing have increased, including a new website launch expected in Q4 2025 and the addition of senior marketing and product leadership [6]

Core Insights - Proactive provides fast, accessible, and actionable business and finance news content to a global investment audience [2] - The company focuses on medium and small-cap markets while also covering blue-chip companies, commodities, and broader investment stories [3] - Proactive's news team delivers insights across various sectors including biotech, pharma, mining, natural resources, battery metals, oil and gas, crypto, and emerging technologies [3] Technology Adoption - Proactive is committed to adopting technology to enhance workflows and content production [4] - The company utilizes automation and software tools, including generative AI, while ensuring all content is edited and authored by humans [5]

Core Insights - The article discusses a transformative strategy for the hospitality industry aimed at increasing ancillary revenue and enhancing guest experiences through intelligent digital engagement [1][4]. Revenue Opportunities - 35% of guest spending occurs after check-in, representing an untapped annual revenue opportunity exceeding $2 million for a 200-room property operating at 60% occupancy [2]. Digital Engagement Strategy - By converting static brochures into interactive digital maps with real-time concierge services, properties can enhance guest loyalty and spending behavior [3]. Key Transformation Levers - The white paper identifies five key levers for transformation: capturing guest attention on-site, unlocking post-check-in revenue, deploying precision engagement, increasing operational efficiency, and positioning properties for market leadership [4]. Company Overview - Phunware, Inc. specializes in mobile app solutions with integrated intelligent capabilities, focusing on creating, implementing, and managing custom mobile applications and services [6]. Future Directions - The company aims to expand its audience through new generative AI products and enhancements, leveraging its patents and intellectual property while serving enterprise customers [7].

Group 1 - Proactive provides fast, accessible, informative, and actionable business and finance news content to a global investment audience [2] - The news team covers medium and small-cap markets, as well as blue-chip companies, commodities, and broader investment stories [3] - Proactive's content includes insights across various sectors such as biotech, pharma, mining, natural resources, battery metals, oil and gas, crypto, and emerging technologies [3] Group 2 - Proactive has a strong focus on technology adoption, utilizing tools to enhance workflows while maintaining human oversight in content creation [4][5] - The company employs automation and software tools, including generative AI, but ensures all content is edited and authored by humans [5]

Core Insights - Phunware, Inc. has appointed Jeremy Krol to its Board of Directors, effective immediately, while he continues as Interim Chief Executive Officer [2][3] - Krol brings over 20 years of experience in engineering, finance, and technology startups, having previously served as a startup advisor for Platform Calgary [3] - The company aims to enhance its mobile technologies and expand its audience through new generative AI products and product enhancements [5] Company Overview - Phunware is an enterprise software company specializing in mobile app solutions with integrated intelligent capabilities, providing tools for businesses to create, implement, and manage custom mobile applications [4] - The company's mission focuses on achieving connectivity and monetization through the adoption of its mobile technologies, leveraging brands, consumers, partners, and market participants [5] Leadership and Strategy - Quyen Du, Board Director and Chair of the Company's Nominating and Corporate Governance Committee, expressed confidence in Krol's strategic insight and familiarity with the business as essential for executing growth plans [4] - Krol will oversee daily operations, strengthening business and sales initiatives around existing products and advancing new technology integrations [3]

Group 1 - Proactive provides fast, accessible, informative, and actionable business and finance news content to a global investment audience [2] - The news team covers medium and small-cap markets, as well as blue-chip companies, commodities, and broader investment stories [3] - Proactive's content includes insights across various sectors such as biotech, pharma, mining, natural resources, battery metals, oil and gas, crypto, and emerging technologies [3] Group 2 - Proactive is committed to adopting technology to enhance workflows and content production [4] - The company utilizes automation and software tools, including generative AI, while ensuring all content is edited and authored by humans [5]

Core Viewpoint - Phunware reported a quarterly loss of $0.16 per share, slightly worse than the Zacks Consensus Estimate of a loss of $0.15, but an improvement from a loss of $0.32 per share a year ago, indicating ongoing challenges in financial performance [1][2] Financial Performance - The company posted revenues of $0.46 million for the quarter ended June 2025, missing the Zacks Consensus Estimate by 38.18%, and down from $1.01 million in the same quarter last year [2] - Over the last four quarters, Phunware has surpassed consensus EPS estimates two times and topped consensus revenue estimates just once [2] Stock Performance - Phunware shares have declined approximately 49.2% since the beginning of the year, contrasting with the S&P 500's gain of 7.8% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is -$0.16 on revenues of $0.85 million, and for the current fiscal year, it is -$0.65 on revenues of $3.33 million [7] - The trend of earnings estimate revisions for Phunware was mixed ahead of the earnings release, which could change following the recent report [6] Industry Context - The Internet - Software industry, to which Phunware belongs, is currently in the top 33% of over 250 Zacks industries, suggesting a favorable environment compared to lower-ranked industries [8] - The performance of Phunware's stock may be influenced by the overall outlook for the industry [8]