Business
Phunware Reports Preliminary Full Year 2021 Financial Results
AUSTIN, Texas, March 23, 2022 (GLOBE NEWSWIRE) -- Phunware, Inc. (NASDAQ: PHUN) (“Phunware” or “the Company”), a fully-integrated enterprise cloud platform
About this update from Phunware, Inc.
[{"type":"text","content":"AUSTIN, Texas, March 23, 2022 (GLOBE NEWSWIRE) -- Phunware, Inc. (NASDAQ: PHUN) (“Phunware” or “the Company”), a fully-integrated enterprise cloud platform for mobile that provides products, solutions, data and services for brands worldwide, today announced preliminary financial results for the year ended December 31, 2021. “The past year was an incredibly pivotal period for Phunware, as we made significant progress across all key segments of our business,” said Alan S. Knitowski, President, CEO and Co-Founder of Phunware. “The combination of our direct and indirect go-to-market strategies came to fruition in conjunction with the re-opening of the post-pandemic economy, resulting in extremely promising opportunities for our core MaaS business. Additionally, the acquisition of Lyte Technology late last year not only materially added to our top line revenues, but it also diversified our business channels by providing a conduit to further expand our B2C customer vertical. As we ramped our blockchain initiatives in parallel, we are encouraged by the number of prospective companies that have taken interest in our new digital offerings. As the first publicly-traded company worldwide to launch its own cryptocurrencies, we fully intend to capitalize on the opportunities available to us in the nascent new realm of monetizing one’s own data inside of a sovereign global data economy. Going forward, we expect to accelerate this expansion via organic and inorganic initiatives on an international scale, including top-line revenue growth of 250% or more year-over year, all while strategically investing for efficiency and diversification.” Full Year 2021 Preliminary Financial Results Net Revenues for the year totaled $10.6 millionMultiscreen-as-a-Service (MaaS) Platform Subscriptions and Services Revenues were $5.3 millionComputer Hardware Revenues were $3.1 millionNet Loss was $(53.5) millionNet Loss per Share was $(0.71)Non-GAAP Adjusted EBITDA Loss was $(11.7) million The Company’s independent registered public accounting firm has not yet completed its annual audit for the year ended December 31, 2021. Although we don’t anticipate, information contained herein is subject to change. “We are pleased with the way we closed the year and are even more excited about the opportunities for growth in 2022 and beyond,” said Matt Aune, CFO of Phunware....