Nasdaq: PHUN Everything You Need to Succeed on Mobile Disclaimer and Important Notices This Investor Presentation (the "presentation") is for informational purposes only and does not constitute an offer to sell, a solicitation of an offer to buy, or a recommendation to purchase any equity, debt or other financial instruments of Phunware, Inc. ("Phunware" or the "Company") or any of Phunware's affiliates' securities (as such term is defined under the U.S. federal securities laws). This presentation has been ...

[Form 10-Q Filing Information](index=1&type=section&id=Form%2010-Q%20Filing%20Information) This section presents administrative details of the Form 10-Q, including filing period, registrant, and registered securities - This is a Quarterly Report (Form 10-Q) for the period ended **March 31, 2022**[2](index=2&type=chunk) - The registrant is **PHUNWARE, INC.**, a Delaware corporation headquartered in Austin, Texas[3](index=3&type=chunk)[4](index=4&type=chunk)[25](index=25&type=chunk) Securities Registered | Title of each class | Trading Symbol(s) | Name of each exchange on which registered | | :------------------ | :---------------- | :---------------------------------------- | | Common Stock, par value $0.0001 per share | PHUN | The NASDAQ Capital Market | | Warrants to purchase one share of Common Stock | PHUNW | The NASDAQ Capital Market | - The registrant is classified as a **Non-accelerated filer** and a **Smaller reporting company**[5](index=5&type=chunk) - As of May 9, 2022, **97,834,795 shares of common stock** were issued and outstanding[5](index=5&type=chunk) [Special Note Regarding Forward-Looking Statements](index=3&type=section&id=SPECIAL%20NOTE%20REGARDING%20FORWARD-LOOKING%20STATEMENTS) This section cautions that forward-looking statements are subject to risks and uncertainties, with no obligation to update them - Forward-looking statements are identified by specific terminology (e.g., 'anticipate,' 'expect,' 'plan') and are based on current expectations and beliefs[9](index=9&type=chunk) - These statements involve risks, uncertainties, and assumptions, which may cause actual results or performance to differ materially[10](index=10&type=chunk) - The company undertakes no obligation to update or revise any forward-looking statements, except as required by applicable securities laws[10](index=10&type=chunk) [PART I - FINANCIAL INFORMATION](index=4&type=section&id=PART%20I%20FINANCIAL%20INFORMATION) This part presents the company's unaudited condensed consolidated financial statements and management's discussion [Item 1. Financial Statements](index=5&type=section&id=Item%201.%20Financial%20Statements) This section presents Phunware's unaudited condensed consolidated financial statements and related notes [Condensed Consolidated Balance Sheets](index=5&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets, liabilities, and stockholders' equity decreased, driven by reduced cash and digital assets Condensed Consolidated Balance Sheet Highlights (in thousands) | Metric | March 31, 2022 | December 31, 2021 | Change | | :--------------------------- | :------------- | :---------------- | :----- | | Cash | $10,815 | $23,137 | $(12,322) | | Digital assets | $24,244 | $32,581 | $(8,337) | | Total current assets | $42,271 | $60,007 | $(17,736) | | Total assets | $81,423 | $99,294 | $(17,871) | | Total current liabilities | $26,124 | $30,293 | $(4,169) | | Total liabilities | $29,433 | $34,017 | $(4,584) | | Total stockholders' equity | $51,990 | $65,277 | $(13,287) | [Condensed Consolidated Statements of Operations and Comprehensive Loss](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20Loss) Net revenues increased significantly, but operating and net losses were impacted by digital asset impairment Condensed Consolidated Statements of Operations Highlights (in thousands, except per share) | Metric | Three Months Ended March 31, 2022 | Three Months Ended March 31, 2021 | Change | | :------------------------------------ | :-------------------------------- | :-------------------------------- | :----- | | Net revenues | $6,778 | $1,646 | $5,132 | | Gross profit | $1,771 | $954 | $817 | | Operating loss | $(5,022) | $(3,412) | $(1,610) | | Impairment of digital assets | $(9,353) | — | $(9,353) | | Net loss | $(14,917) | $(14,307) | $(610) | | Loss per share, basic and diluted | $(0.15) | $(0.22) | $0.07 | [Condensed Consolidated Statements of Changes in Stockholders' Equity (Deficit)](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Changes%20in%20Stockholders%27%20Equity%20(Deficit)) Stockholders' equity decreased due to net loss, partially offset by acquisition capital and stock-based compensation Changes in Stockholders' Equity (in thousands) | Item | Balance - December 31, 2021 | Change (3 months ended March 31, 2022) | Balance - March 31, 2022 | | :------------------------------------------ | :-------------------------- | :------------------------------------- | :----------------------- | | Total Stockholders' Equity | $65,277 | $(13,287) | $51,990 | | Net loss | N/A | $(14,917) | N/A | | Issuance of common stock (Lyte acquisition) | N/A | $1,125 | N/A | | Stock-based compensation expense | N/A | $521 | N/A | [Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) The company experienced a net decrease in cash, primarily from operating and financing activities Condensed Consolidated Statements of Cash Flows Highlights (in thousands) | Activity | Three Months Ended March 31, 2022 | Three Months Ended March 31, 2021 | Change | | :------------------------------------ | :-------------------------------- | :-------------------------------- | :----- | | Net cash used in operating activities | $(10,171) | $(7,299) | $(2,872) | | Net cash used in investing activities | $(569) | $(1,098) | $529 | | Net cash (used) provided by financing activities | $(1,550) | $27,916 | $(29,466) | | Net (decrease) increase in cash and restricted cash | $(12,322) | $19,529 | $(31,851) | [Notes to the Unaudited Condensed Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20the%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) This section provides detailed disclosures and explanations for the financial statements [Note 1. The Company and Basis of Presentation](index=9&type=section&id=Note%201.%20The%20Company%20and%20Basis%20of%20Presentation) Phunware offers MaaS, digital assets, and computer systems, with GAAP financials and a corrected warrant error - Phunware, Inc. offers a **Multiscreen-as-a-Service (MaaS) platform**, mobile advertising, and **PhunToken**, an innovative digital asset[25](index=25&type=chunk) - In **October 2021**, the company acquired **Lyte Technology, Inc.**, a provider of high-performance computer systems[25](index=25&type=chunk) - A prior accounting error related to a warrant resulted in an understatement of net loss by **$1,944 thousand** for the three months ended March 31, 2021, which has been corrected[29](index=29&type=chunk)[31](index=31&type=chunk) - Management believes there is no substantial doubt about the company's ability to continue as a **going concern** for one year, based on sufficient cash on-hand[33](index=33&type=chunk) [Note 2. Summary of Significant Accounting Policies](index=10&type=section&id=Note%202.%20Summary%20of%20Significant%20Accounting%20Policies) This note outlines significant accounting policies, including estimates, digital asset risks, and fair value measurements - Financial statement preparation requires management estimates and assumptions for digital asset transactions, stock-based compensation, and fair value measurements[36](index=36&type=chunk) - Regulation governing blockchain technologies, cryptocurrencies, and digital assets is uncertain and evolving, posing potential adverse effects on token value[37](index=37&type=chunk) - Digital assets (primarily **bitcoin** and **ethereum**) are accounted for as **indefinite-lived intangible assets**, recorded at cost and remeasured for impairment losses[43](index=43&type=chunk)[46](index=46&type=chunk) Digital Asset Impairment Loss (Three Months Ended March 31, 2022, in thousands) | Digital Asset | Impairment Losses | | :------------ | :------------------ | | Bitcoin | $7,633 | | Ethereum | $1,658 | | Other | $62 | | **Total** | **$9,353** | Fair Value of Financial Instruments (March 31, 2022, in thousands) | Instrument | Level 1 | Level 2 | Level 3 | Total | | :--------------- | :------ | :------ | :------ | :---- | | Digital assets | $24,244 | $— | $— | $24,244 | | Warrant liability | $— | $3,818 | $— | $3,818 | [Note 3. Business Combination](index=15&type=section&id=Note%203.%20Business%20Combination) Phunware acquired Lyte Technology, Inc. for approximately **$11.0 million**, subject to an earn-out provision - Phunware acquired **Lyte Technology, Inc.** on **October 18, 2021**, for an

Phunware, Inc. (NASDAQ:PHUN) Q1 2022 Earnings Conference Call May 12, 2022 4:30 PM ET Company Participants Alan S. Knitowski - President, Chief Executive Officer and Co-Founder Randall Crowder - Chief Operating Officer Matt Aune - Chief Financial Officer Conference Call Participants Scott Buck - H.C Wainwright and Co., LLC Howard Halpern - Taglich Brothers, Inc. Austin Vetterick - ROTH Capital Partners Lucas Ward - Ascendiant Capital Markets, LLC Operator Good afternoon, ladies and gentlemen. Welcome to Phu ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission file number: 001-37862 PHUNWARE, INC. (Exact name of registrant as specified in its charter) | Delaware | 30-1205798 | | --- | --- ...

Phunware, Inc. (NASDAQ:PHUN) Q4 2021 Earnings Conference Call March 23, 2022 5:00 PM ET Company Participants Alan S. Knitowski - President, Chief Executive Officer & Co-Founder Matt Aune - Chief Financial Officer Randall Crowder - Chief Operating Officer Conference Call Participants Darren Aftahi - ROTH Capital Partners Scott Buck - H.C. Wainwright Howard Halpern - Taglich Brothers Ed Woo - Ascendiant Capital Disclaimer*: This transcript is designed to be used alongside the freely available audio recording ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-37862 PHUNWARE, INC. (Exact name of registrant as specified in its charter) | Delaware | 30-1205798 | | | --- | --- | --- | | (State or o ...

Financial Data and Key Metrics Changes - Net revenues for Q3 2021 totaled $2.2 million, representing a 50% growth quarter-over-quarter [25] - Gross margin was 52.5%, down from 71.3% year-over-year, while non-GAAP adjusted gross margin was 68.8%, compared to 74.8% in the previous year [25] - Non-GAAP adjusted EBITDA loss was $2.5 million compared to a loss of $1.3 million last year [28] - Backlog and deferred revenue at the end of the quarter totaled $6.1 million, down from $8 million at the end of the last quarter [29] Business Line Data and Key Metrics Changes - MaaS platform subscriptions and services revenue was $1.8 million, accounting for 85% of total net revenues [25] - The company reported a more than 50% sequential gain in quarter-over-quarter revenue growth with customers [8] - The completion of the Lyte Technology acquisition improved the balance sheet with over $65 million in additional cash [9] Market Data and Key Metrics Changes - The company has expanded its installed base of Phunware IDs to over 15 billion devices worldwide [20] - The MaaS platform is capable of supporting up to five billion transactions per day and 500,000 transactions per second [20] Company Strategy and Development Direction - The company aims to create a Phunware ID for every human being with a device connected to their favorite brands and applications [5] - The transition from a low-margin transaction business to a high-margin SaaS licensing business is a key focus [13] - The company plans to expand its direct-to-consumer channel for B2C engagements across high-performance computing and cryptocurrency offerings [17] - Future growth will be supported by indirect sales and channel partners, including Carrier Global Corporation and Cox Communications [14][45] Management's Comments on Operating Environment and Future Outlook - Management noted that B2B and B2G customers have not consistently returned to offices, impacting operations [10] - B2C customers are showing strong demand for hardware and cryptocurrency, independent of public sector trends [11] - The company expects to finish the year strong with more than $5 million in Q4 revenues [16] - Management is optimistic about the ongoing scaling of the MaaS blockchain ecosystem and high-performance computing systems [54] Other Important Information - The company raised approximately $62 million from an At-The-Market offering and $4.6 million from warrant exercises [31] - The company purchased an additional 100 Bitcoin for approximately $6.2 million, bringing total holdings to approximately 129 Bitcoin [32] - The company plans to leverage its balance sheet strength for future growth, including potential M&A opportunities [57] Q&A Session Summary Question: What is the revenue mix between direct and indirect channels? - Management indicated that approximately 90% of revenue is still direct, with 10% from indirect channels, and expects indirect channels to ramp up in the coming months [62] Question: Are there concerns regarding supply chain issues for Lyte Technology? - Management reported a 60% increase in orders post-acquisition and is confident in their ability to manage supply chain challenges by establishing new supplier relationships [66][69] Question: What is the expected revenue mix for Q4? - Management did not provide specific details but indicated that core Phunware business will drive much of the revenue alongside Lyte [73] Question: What is the long-term opportunity with Lyte Technology? - Management emphasized the integration of hardware and software, aiming to enhance customer engagement and expand the Phunware ID ecosystem [76][80] Question: What is the strategy regarding Bitcoin and other cryptocurrencies? - Management views Bitcoin as a hedge against inflation and plans to hold and accumulate Bitcoin rather than trade it [100][101]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-37862 PHUNWARE, INC. (Exact name of registrant as specified in its charter) | Delaware | 30-1205798 | | | --- | --- | --- | | (State or other ...

Phunware, Inc. (NASDAQ:PHUN) Q2 2021 Earnings Conference Call August 12, 2021 5:00 AM ET Company Participants Alan S. Knitowski – President, Chief Executive Officer and Co-Founder Randall Crowder – Chief Operating Officer Matt Aune – Chief Financial Officer Conference Call Participants Darren Aftahi – ROTH Capital Partners Howard Halpern – Taglich Brothers Scott Buck – H.C. Wainwright Ed Woo – Ascendiant Capital Operator Good afternoon, ladies and gentlemen. Welcome to Phunware’s Second Quarter 2021 Investo ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-37862 PHUNWARE, INC. (Exact name of registrant as specified in its charter) | Delaware | | | 30-1205798 | | | --- | --- | --- | --- | --- | | ...