Core Insights - Phunware, Inc. reported a 40% increase in revenue from mobile software subscriptions and services, reaching $0.6 million in Q1 2025 compared to Q1 2024 [5][4] - The company has a strong balance sheet with cash and cash equivalents of $109.7 million as of March 31, 2025, supporting ongoing R&D activities [4][5] - The net loss for Q1 2025 was $3.7 million, an increase from $2.3 million in the previous year, primarily due to one-time legal expenses [5][4] Financial Highlights - Total revenues for Q1 2025 were $0.7 million, with a gross margin of 52% [4] - Software bookings for the first quarter totaled $0.4 million [5] - Net loss per share improved to ($0.18) in Q1 2025 from ($0.33) in Q1 2024 [5] Recent Business Highlights - The company added three new customers in the hospitality sector during Q1 2025 and secured a $0.5 million booking for a multi-location healthcare facility in Q2 2025 [5][4] - Phunware launched an integrated conference solution for an existing hospitality customer, enhancing guest experiences [4] - The appointment of Quyen Du to the Board of Directors is expected to strengthen the company's strategic growth initiatives [4][5] Management Commentary - The interim CEO emphasized the focus on AI-related initiatives and the acceleration of the sales pipeline [4] - The company is committed to enhancing its core business units and exploring high-impact investment and M&A opportunities [6] - Future product developments include AI-related features such as an AI Personal Concierge for hospitality customers, expected to launch in mid-2025 [6]