Phunware, Inc.

Listed Company

PHUNCIK 0001665300NasdaqNon-AcceleratedSmaller ReportingServices-Computer Processing & Data PreparationFY ends Dec 31

Period

FY 2025

Revenue

$2.55M

Net Income

$-11.40M

Total Assets

$120.87M

Equity

$96.32M

Shares Out

20.19M

Op. Cash Flow

$-12.47M

Business

Phunware, Inc. is a technology company that provides mobile application software, services and mobile-app advertising via a cloud-based platform to engage, manage and monetize mobile application portfolios. Its main products and services include multi-year cloud-based software subscription licenses, SDK integrations (analytics, content management, messaging and location-based services), custom application development and in-app advertising, as well as a token ecosystem comprising PhunCoin and PhunToken. The company operates through two primary business lines: mobile software subscriptions and services, and in-application advertising. Phunware serves customers worldwide, selling directly and through partners, value-added resellers and systems integrators, and markets advertising to businesses and agencies.

Summary from filing dated 2025-03-31

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net revenue	3	3	5	7	11
Cost of revenue	1	2	3	3	7
Gross profit	1	1	2	4	4
Sales and marketing	3	3	3	4	3
General and administrative	15	10	14	17	13
Research and development	3	2	4	6	4
Total operating expenses	22	15	47	28	20
Operating loss	−21	−14	−46	−24	−17
Interest expense	−32,000	−135,000	−2	—	—
Interest income	4	2	—	—	—
Gain on extinguishment of debt	0	535,000	−237,000	0	−8
Other income, net	5	1	436,000	211,000	1,000
Total other income	9	4	4	−21	−37
Loss before taxes	−11	−10	−42	−45	−54
Income tax benefit (expense)	19,000	−41,000	−29,000	−4,000	426,000
Net loss	−11	−10	−53	−51	−54
Earnings Per Share, Basic	−0.57	−0.94	—	−0.51	−0.71
Earnings Per Share, Diluted	−0.57	−0.94	—	−0.51	−0.71
Weighted-average shares used to compute net loss per share, basic	20	11	2	2	75
Weighted-average shares used to compute net loss per share, diluted	20	11	2	2	75

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	101	113	4	2	23
Accounts receivable, net of allowance for credit losses of $113 and $166 as of December 31, 2025 and December 31, 2024, respectively	300,000	276,000	550,000	835,000	967,000
Digital currencies	96,000	103,000	75,000	10	—
Prepaid expenses and other current assets	19	406,000	374,000	608,000	686,000
Total current assets	120	114	5	17	60
Property and equipment, net	11,000	24,000	40,000	192,000	0
Right-of-use asset, net	552,000	840,000	1	2	1
Other assets	158,000	158,000	276,000	325,000	276,000
Total non-current assets	721,000	1	2	—	—
Total assets	121	115	7	55	98
Accounts payable	1	4	8	7	7
Accrued expenses	20	148,000	437,000	3	10
Deferred revenue	1	1	1	3	4
Lease liability	342,000	313,000	629,000	696,000	399,000
PhunCoin subscription payable	1	1	1	—	—
Total current liabilities	24	6	17	26	30
Deferred revenue	369,000	528,000	651,000	1	1
Lease liability	277,000	619,000	1	2	1
Total noncurrent liabilities	646,000	1	2	—	—
Total liabilities	25	8	18	30	33
Commitments and contingencies (See Note 7)	—	—	—	—	—
Common stock, $0.0001 par value, 1,000,000,000 shares authorized; 20,198,290 shares issued and 20,188,160 shares outstanding as of December 31, 2025 and 20,166,665 shares issued and 20,156,535 shares outstanding as of December 31, 2024	2,000	2,000	—	0	10,000
Treasury stock	−502,000	−502,000	−502,000	0	—
Additional paid-in capital	422	421	292	276	265
Accumulated deficit	−325	−313	−303	−250	−199
Total stockholders' equity	96	107	−11	25	65
Total liabilities and stockholders' equity	121	115	7	55	98

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Non-cash writeoff of accounts payable	−201,000	−1	—	—	—
Stock based compensation	455,000	2	4	3	5
Other adjustments	−607,000	1	2	441,000	−478,000
Accounts receivable	−21,000	130,000	235,000	2,000	−16,000
Prepaid expenses and other assets	−258,000	86,000	283,000	26,000	−383,000
Accounts payable and accrued expenses	−267,000	−3	−688,000	—	—
Lease liability payments	−360,000	−682,000	−959,000	−794,000	−802,000
Deferred revenue	193,000	−347,000	−896,000	−318,000	−1
Net cash used in operating activities from continued operations	−12	−13	−17	−29	—
Net cash used in operating activities from discontinued operations	0	−177,000	−1	2	—
Net cash used in operating activities	−12	−13	−18	−27	−23
Net cash for investing activities	0	0	15	−2	−46
Proceeds from sales of common stock, net of issuance costs	80,000	122	10	4	95
Net cash provided by financing activities	80,000	122	5	8	88
Net (decrease) increase in cash and cash equivalents	−12	109	2	−21	19
Issuance of common stock for payment of bonuses and consulting fees	0	35,000	434,000	0	66,000
Interest paid	32,000	31,000	1	957,000	1
Income taxes paid	25,000	14,000	—	0	—

Filings

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