Business
Phunware Reports Third Quarter 2022 Financial Results
AUSTIN, Texas, Nov. 10, 2022 (GLOBE NEWSWIRE) -- Phunware, Inc. (NASDAQ: PHUN) (“Phunware” or the “Company”), a leading digital transformation platform to
About this update from Phunware, Inc.
[{"type":"text","content":"AUSTIN, Texas, Nov. 10, 2022 (GLOBE NEWSWIRE) -- Phunware, Inc. (NASDAQ: PHUN) (“Phunware” or the “Company”), a leading digital transformation platform to tech-enable contextual engagement in a mobile-first world, today announced financial results for the quarter ended September 30, 2022. “We are very excited to continue our 2022 momentum in Q3, delivering actual revenues exceeding 120% growth year-over-year while simultaneously expanding our MaaS backlog to nearly $8M,” said Alan S. Knitowski, President, CEO and Co-Founder of Phunware. “We continue operating effectively at the intersection of mobile, cloud, big data and blockchain across all lines of business and are revising our forward revenue guidance for 2022 to up roughly 225% year-over-year, or approximately $22.5M. In parallel, we also expect that the second half of 2022 will represent a new second half record for reported revenues as a public company for its comparable period.” Third Quarter 2022 Financial Results Net Revenues for the quarter totaled $4.8 millionMultiscreen-as-a-Service (MaaS) Platform Revenues were $1.3 millionHardware Revenues were $3.5 millionNet Loss was $(8.0) millionNet Loss per Share was $(0.08)Non-GAAP Adjusted EBITDA Loss was $(6.7) million Click here to learn more about PhunToken and click here to learn more about PhunCoin. Recent Business Highlights Announced Contract Renewal & Expansion With Parkview HealthLYTE by Phunware Launched Black Friday Gaming PC Sale, Slashing $100 Build Fee for Month of NovemberPresented at the 2nd Annual Needham Virtual Crypto ConferencePhunware to Participate at the Roth 11th Annual Technology Event on November 16, 2022 Conference Call Information Phunware management will host a conference call today (November 10, 2022) at 4:30 p.m. Eastern Time (1:30 p.m. Pacific Time) to discuss its financial results for the quarter ended September 30, 2022. 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: 204760. 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 h...