Phunware Inc Stock Price, News & Analysis

Phunware, Inc. (NASDAQ: PHUN) announced the release of PhunWallet version 1.3, featuring a new user registration system and cross-device access. The update enhances user experience, allowing seamless login with the same credentials on different devices. Users can earn PhunToken (PHTK) through engagement activities and personal QR code referrals, replacing previous share link methods. The in-app referral contest from June 9-19 contributed to over 10,000 new users. These features aim to empower users in managing their data within a decentralized economy.

PhunToken (PHTK), developed by Phunware, announces its co-sponsorship of the Consensus 2022 event in Austin, Texas, from June 9-12, 2022. This festival focuses on blockchain, cryptocurrency, Web 3, and the metaverse, featuring prominent voices in the digital assets industry. Phunware will launch the PhunToken Consensus Quest on PhunWallet, allowing participants to win rewards exceeding $100,000, including a Lyte Mining PC. The event promises to facilitate discussions on the evolving role of these technologies in finance, culture, and marketing.

Phunware, Inc. (NASDAQ: PHUN) reported a record revenue of $6.8 million for Q1 2022, reflecting a remarkable growth of over 310% year-over-year. The company's Multiscreen-as-a-Service (MaaS) revenues reached $2.5 million, while Hardware revenues accounted for $4.3 million. Despite this success, the net loss stood at $(14.9) million, resulting in a $(0.15) loss per share. Looking ahead, Phunware has revised its Q2 revenue growth forecast to exceed 275% year-over-year, indicating strong momentum in the digital asset ecosystem.

Phunware (NASDAQ: PHUN) will participate in two key financial conferences in May 2022. The company is set to virtually present at the 17th Annual Needham Technology & Media Conference on May 18, 2022, at 3:45 p.m. Eastern Time, with one-on-one meetings scheduled throughout the event. Additionally, they will present at the H.C. Wainwright Global Investment Conference on May 25, 2022, at 10:30 a.m. Eastern Time. Key executives, including CEO Alan Knitowski and CFO Matt Anne, will represent Phunware.

Phunware, Inc. (NASDAQ: PHUN) announced its collaboration with Moneta Advisory Partners to enhance its visibility as a leader in Data-Driven Consumer Engagement. Jon Najarian, co-founder of Moneta, emphasized the transformative potential of Phunware's data-driven platform and blockchain technology for enterprise clients. Phunware’s COO, Randall Crowder, highlighted a projected 250% YoY revenue growth in Q1 and Q2 of 2022, with an anticipated revenue target of at least $25 million. The company recently launched PhunToken (PHTK), aiming to broaden its reach in crypto and investor communities.

Phunware (NASDAQ: PHUN) announces a conference call scheduled for May 12, 2022, at 4:30 PM ET to discuss its Q1 2022 financial results. The call will follow a press release detailing the financial outcomes for the quarter ending March 31, 2022, released earlier that day. Interested parties can participate by dialing in 10 minutes before the start time. A live broadcast and replay will be available through the Company's investor relations website.

Phunware has appointed Matt Lull as its first Executive Vice President and Chief Cryptocurrency Officer, effective April 18, 2022. With over 30 years of experience in technology and finance, Lull is expected to enhance Phunware's strategic initiatives in software, hardware, cloud, and decentralized finance (DeFi). His extensive background includes significant roles at Citrix Systems, where he founded the cloud computing partner ecosystem. Lull's expertise is anticipated to drive Phunware's growth in the rapidly evolving cryptocurrency sector.

Phunware, Inc. (NASDAQ: PHUN) has established a strategic partnership with Accion Labs, an innovation engineering company, to enhance its Multiscreen-as-a-Service (MaaS) platform. Accion will act as a preferred partner in implementing and customizing MaaS for clients seeking mobile solutions in digital transformation. This collaboration aims to extend Phunware's reach in 22 countries, leveraging Accion's infrastructure and expertise to drive operational efficiency and maximize ROI for clients. This partnership positions Phunware favorably in the mobile technology market.

Phunware, Inc. (NASDAQ: PHUN) announced the hiring of Christopher Olive as the Executive Vice President, General Counsel, and Chief Legal Officer, effective April 1, 2022. Olive brings over 20 years of legal experience, including significant expertise in corporate, finance, and regulatory matters. Alan S. Knitowski, CEO, emphasized the importance of Olive’s diverse background in enhancing the company's legal capabilities at a crucial time. Olive's previous roles include a partner at Bracewell LLP and service in the U.S. Army Judge Advocate General’s Corps.