Phunware Inc Financials
Phunware Inc (PHUN) reported $2.6M in revenue for fiscal year 2025, down 19.9% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 10 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Liquidity is being supplied by past financing, while a tiny revenue base cannot absorb the company’s operating cost structure.
After a FY2024 financing inflow of$122.3M , FY2025 still ended with$100.6M of cash. That cash sits against just$24.6M of total liabilities even though operating cash flow remained-$12.5M , so balance-sheet strength is financing-driven rather than the result of a self-funding business.
Revenue fell from
FY2025 research and development of
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Phunware Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Phunware Inc scores -2.31, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($42.4M) relative to total liabilities ($24.6M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Phunware Inc passes 1 of 8 computable financial strength tests (1 of the nine could not be computed from available data). No profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.
Phunware Inc reported a net loss of $11.4M while operations used $12.5M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Phunware Inc reported an operating loss of $20.5M against $32K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Phunware Inc generated $2.6M in revenue in fiscal year 2025. This represents a decrease of 19.9% from the prior year.
Phunware Inc reported -$11.4M in net income in fiscal year 2025. This represents a decrease of 10.5% from the prior year.
Not reported for fiscal year 2025.
Cash & Balance Sheet
Phunware Inc held $100.6M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Phunware Inc paid $0.00 per share in dividends in fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
Phunware Inc's gross margin was 50.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 5.0 percentage points from the prior year.
Phunware Inc's ROE was -11.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 2.2 percentage points from the prior year.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
Phunware Inc invested $3.2M in research and development in fiscal year 2025. This represents an increase of 39.6% from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
PHUN Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.8M | $2.6M-19.9% | $3.2M-34.0% | $4.8M-25.9% | $6.5M-38.7% | $10.6M+6.4% | $10.0M-47.8% | $19.1M-38.0% | $30.9M+15.6% | $26.7M | N/A |
| Cost of Revenue | $1.1M | $1.3M-27.3% | $1.7M-44.9% | $3.1M+4.4% | $3.0M-57.2% | $7.0M+109.4% | $3.4M-62.8% | $9.0M-23.6% | $11.8M-24.9% | $15.7M | N/A |
| Gross Profit | $1.7M | $1.3M-11.2% | $1.5M-13.8% | $1.7M-52.0% | $3.5M-2.9% | $3.6M-45.6% | $6.6M-34.4% | $10.1M-46.9% | $19.1M+73.3% | $11.0M | N/A |
| R&D Expenses | $3.7M | $3.2M+39.6% | $2.3M-49.1% | $4.4M-27.6% | $6.1M+47.1% | $4.2M+59.0% | $2.6M-39.3% | $4.3M-37.8% | $7.0M-37.3% | $11.1M | N/A |
| SG&A Expenses | $15.6M | $15.3M+46.0% | $10.5M-24.0% | $13.8M-20.2% | $17.3M+30.3% | $13.3M-13.7% | $15.4M-0.3% | $15.4M+13.6% | $13.6M-8.3% | $14.8M | N/A |
| Operating Income | -$21.5M | -$20.5M-47.7% | -$13.9M | N/A | -$24.0M-42.7% | -$16.8M+3.7% | -$17.5M-42.1% | -$12.3M-79.4% | -$6.9M+73.2% | -$25.6M-17375.5% | -$147K |
| Interest Expense | $36K | $32K-76.3% | $135K-92.2% | $1.7M-28.0% | $2.4M-46.3% | $4.5M+31.3% | $3.4M+487.4% | $581K-19.8% | $724K+82.4% | $397K | N/A |
| Income Tax | -$19K | -$19K-146.3% | $41K+41.4% | $29K+625.0% | $4K+100.9% | -$426K-21400.0% | $2K-60.0% | $5K+101.3% | -$374K-325.0% | -$88K | N/A |
| Net Income | -$13.0M | -$11.4M-10.5% | -$10.3M | N/A | -$50.9M+4.9% | -$53.5M-141.1% | -$22.2M-72.5% | -$12.9M-31.3% | -$9.8M+62.2% | -$25.9M-28659.6% | -$90K |
| EPS (Diluted) | — | -$0.57 | -$0.94 | -$17.62 | -$0.51 | -$0.71 | -$0.50 | N/A | N/A | N/A | N/A |
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
PHUN Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 |
|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $120.9M+5.3% | $114.8M+1606.0% | $6.7M-87.7% | $54.8M-44.1% | $98.0M+207.9% | $31.8M+9.6% | $29.1M-21.2% | $36.9M+8.5% | $34.0M-52.1% | $71.0M |
| Current Assets | $120.1M+5.6% | $113.8M+2193.1% | $5.0M-70.6% | $16.9M-71.9% | $60.0M+1122.6% | $4.9M+112.0% | $2.3M-51.0% | $4.7M-31.6% | $6.9M+1218.9% | $523K |
| Cash & Equivalents | $100.6M-11.0% | $113.0M+2771.7% | $3.9M+101.2% | $2.0M-91.6% | $23.1M+487.2% | $3.9M+1327.5% | $276K-67.3% | $844K+174.0% | $308K-97.6% | $12.6M |
| Inventory | N/A | N/A | N/A | $2.8M+5.5% | $2.6M | $0 | N/A | N/A | N/A | N/A |
| Accounts Receivable | $300K+8.7% | $276K-49.8% | $550K-34.1% | $835K-13.7% | $967K+45.6% | $664K-60.3% | $1.7M-53.7% | $3.6M-41.9% | $6.2M | N/A |
| Goodwill | N/A | N/A | $0-100.0% | $25.8M-22.5% | $33.3M+28.4% | $25.9M+0.2% | $25.9M-0.1% | $25.9M0.0% | $25.9M+0.4% | $25.8M |
| Total Liabilities | $24.6M+223.1% | $7.6M-58.2% | $18.2M-39.3% | $30.0M-8.5% | $32.7M-3.2% | $33.8M+35.1% | $25.0M-2.5% | $25.7M-1.6% | $26.1M-30.9% | $37.8M |
| Current Liabilities | $23.9M+270.6% | $6.5M-60.9% | $16.5M-35.5% | $25.6M-15.6% | $30.3M+14.5% | $26.5M+33.4% | $19.8M-0.7% | $20.0M+31.4% | $15.2M+30156.7% | $50K |
| Long-Term Debt | N/A | N/A | N/A | N/A | $0-100.0% | $3.8M+313.4% | $910K | $0 | N/A | N/A |
| Total Equity | $96.3M-10.1% | $107.2M+1035.5% | -$11.5M-146.0% | $24.9M-61.9% | $65.3M+3398.5% | -$2.0M-149.2% | $4.0M-30.9% | $5.8M-26.3% | $7.9M-76.2% | $33.2M |
| Retained Earnings | -$324.7M-3.6% | -$313.3M-3.4% | -$303.0M-21.1% | -$250.2M-25.5% | -$199.3M-36.7% | -$145.8M-18.0% | -$123.6M-10.5% | -$111.8M-9.6% | -$102.0M-113014.7% | -$90K |
PHUN Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$14.1M | -$12.5M+6.3% | -$13.3M+27.8% | -$18.4M+31.4% | -$26.9M-19.3% | -$22.5M-105.2% | -$11.0M-77.4% | -$6.2M+6.1% | -$6.6M+61.2% | -$17.0M-23445.6% | -$72K |
| Capital Expenditures | N/A | N/A | N/A | $0-100.0% | $923K | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | N/A | N/A | N/A | -$18.4M+33.6% | -$27.8M | N/A | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | $0 | $0 | $0-100.0% | $15.4M+781.2% | -$2.3M+95.1% | -$46.4M | $0-100.0% | $70K-81.4% | $377K+1496.3% | -$27K+100.0% | -$70.4M |
| Financing Cash Flow | $0 | $80K-99.9% | $122.3M+2359.1% | $5.0M-38.2% | $8.1M-90.8% | $88.0M+503.0% | $14.6M+14643.4% | $99K-99.2% | $12.3M+166.8% | $4.6M-93.5% | $71.0M |
| Share Buybacks | N/A | N/A | N/A | $502K | $0 | N/A | N/A | N/A | $52.6M | N/A | N/A |
Not reported in any period shown, so not listed: Dividends Paid.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
PHUN Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 50.6%+5.0pp | 45.6%+10.7pp | 34.9%-18.9pp | 53.8%+19.9pp | 34.0%-32.5pp | 66.4%+13.5pp | 52.9%-8.9pp | 61.8%+20.6pp | 41.2% | N/A |
| Operating Margin | -803.7% | -435.5% | N/A | -368.5% | -158.3% | -175.0% | -64.3%-42.1pp | -22.2%+73.6pp | -95.9% | N/A |
| Net Margin | -446.6% | -323.5% | N/A | -780.5% | -502.9% | -222.0% | -67.2%-35.5pp | -31.7%+65.3pp | -97.1% | N/A |
| Return on Equity | -11.8%-2.2pp | -9.6% | N/A | -204.6%-122.6pp | -82.0% | N/A | -319.7%-151.5pp | -168.2%+159.9pp | -328.2%-327.9pp | -0.3% |
| Return on Assets | -9.4%-0.4pp | -9.0% | N/A | -92.8%-38.2pp | -54.6%+15.1pp | -69.7%-25.4pp | -44.3%-17.7pp | -26.6%+49.7pp | -76.3%-76.2pp | -0.1% |
| Current Ratio | 5.03-12.6x | 17.63+17.3x | 0.30-0.4x | 0.66-1.3x | 1.98+1.8x | 0.19+0.1x | 0.12-0.1x | 0.24-0.2x | 0.45-10.0x | 10.41 |
| Debt-to-Equity | 0.25+0.2x | 0.07 | N/A | 1.20+1.2x | 0.00 | N/A | 0.23+0.2x | 0.00-3.3x | 3.30+2.2x | 1.14 |
| FCF Margin | N/A | N/A | -381.5% | -426.0% | N/A | N/A | N/A | N/A | N/A | N/A |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.
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Where Phunware Inc Ranks
Frequently Asked Questions
What is Phunware Inc's annual revenue?
Phunware Inc (PHUN) reported $2.6M in total revenue for fiscal year 2025. This represents a -19.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Phunware Inc's revenue growing?
Phunware Inc (PHUN) revenue declined by 19.9% year-over-year, from $3.2M to $2.6M in fiscal year 2025.
Is Phunware Inc profitable?
No, Phunware Inc (PHUN) reported a net income of -$11.4M in fiscal year 2025.
What is Phunware Inc's gross margin?
Phunware Inc (PHUN) had a gross margin of 50.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Phunware Inc's return on equity (ROE)?
Phunware Inc (PHUN) has a return on equity of -11.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Phunware Inc's operating cash flow?
Phunware Inc (PHUN) recorded an outflow of $12.5M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Phunware Inc's total assets?
Phunware Inc (PHUN) had $120.9M in total assets as of fiscal year 2025, including both current and long-term assets.
How much does Phunware Inc spend on research and development?
Phunware Inc (PHUN) invested $3.2M in research and development during fiscal year 2025.
What is Phunware Inc's current ratio?
Phunware Inc (PHUN) had a current ratio of 5.03 as of fiscal year 2025, which is generally considered healthy.
What is Phunware Inc's debt-to-equity ratio?
Phunware Inc (PHUN) had a debt-to-equity ratio of 0.25 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Phunware Inc's return on assets (ROA)?
Phunware Inc (PHUN) had a return on assets of -9.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Phunware Inc's cash runway?
Based on fiscal year 2025 data, Phunware Inc (PHUN) had $100.6M in cash against an annual operating cash burn of $12.5M. This gives an estimated cash runway of approximately 97 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Phunware Inc's Altman Z-Score?
Phunware Inc (PHUN) has an Altman Z-Score of -2.31, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Phunware Inc's Piotroski F-Score?
Phunware Inc (PHUN) has a Piotroski F-Score of 1 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Phunware Inc's earnings high quality?
Phunware Inc (PHUN) reported a net loss of $11.4M while operations used $12.5M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Phunware Inc cover its interest payments?
Phunware Inc (PHUN) reported an operating loss of $20.5M against $32K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Phunware Inc?
Phunware Inc (PHUN) scores 50 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.