Phunware Inc Stock Price, News & Analysis

Phunware, Inc. (NASDAQ: PHUN) has successfully completed its acquisition of Lyte Technology, a high-performance computer systems provider, for approximately $3.32 million in cash and unsecured debt, with a total potential valuation of $10.98 million. This strategic acquisition allows Phunware to enter a $32 billion PC gaming market expected to grow at 20.4% CAGR. For Q4 FY2021, Phunware anticipates revenues exceeding $5 million, leveraging Lyte’s customer base for its blockchain initiatives. The acquisition's success hinges on Lyte generating $12 million in net revenues within a year.

AUSTIN, Texas, Oct. 14, 2021 – Phunware (NASDAQ: PHUN) will attend the Consumer Electronics Show 2022 (CES) from January 5-8, 2022, both virtually and in-person in Las Vegas. Hosted by the Consumer Technology Association, CES features over 1,100 global companies showcasing innovations in various fields. Jeff Friedman, VP of Sales, emphasized the importance of digital transformation in a mobile-first world. Phunware’s sales team will demonstrate their MaaS platform aimed at improving customer engagement and driving profitability. For inquiries, contact Phunware's sales team.

Phunware (NASDAQ: PHUN) has announced a partnership with Cooper Lighting Solutions, part of Signify, to integrate its Multiscreen-as-a-Service (MaaS) platform with the Trellix IoT platform. This collaboration aims to enhance commercial building efficiency and occupant experience through actionable data insights from connected lighting systems. The integration will provide features such as digital access, occupancy management, and analytics. Phunware's COO expressed excitement about the collaboration, highlighting the potential for meaningful engagement in smart spaces.

Phunware, Inc. (NASDAQ: PHUN) announced a partnership with Intermarkets, Inc. to design and support the new Headlines+ website and mobile application. This collaboration highlights Phunware's Multiscreen-as-a-Service (MaaS) platform, enhancing news aggregation across multiple platforms including iOS and Android. The Headlines+ service aims to empower content publishers amidst increasing constraints by delivering curated news while monetizing through digital advertising. This strategic move is expected to bolster Phunware's market presence and attract more partners.

Phunware, Inc. (NASDAQ: PHUN) has launched a Ten Million PhunToken Sweepstakes alongside the new release of its PhunWallet for iOS and Android. The update enhances user engagement by allowing users to earn PhunToken (PHTK) through daily actions and custom referrals. Upcoming features scheduled for the next six months include creating user accounts, advanced profile options, team functionalities, and engagement enhancements. COO Randall Crowder emphasizes the company's commitment to a decentralized data economy that rewards active participation.

Phunware, Inc. (NASDAQ: PHUN) will host a fireside chat on October 7 at 1:00 PM ET, featuring COO Randall Crowder and market analyst Steve Grasso. The discussion will focus on Phunware's outlook for 2021, especially leading into Q4, alongside general business updates. Grasso, with extensive Wall Street experience, aims to provide insights into the company's strategic direction. The event will be broadcast live and available for replay on the company’s investor relations website.

Phunware (NASDAQ: PHUN) announced a contract win with Yavapai Regional Medical Center (YRMC) for a Multiscreen-as-a-Service (MaaS) digital front door application portfolio. This partnership aims to enhance mobile healthcare experiences by integrating multiple solutions into one cohesive platform. YRMC is a prominent not-for-profit healthcare system serving a vast geographical area. Phunware's solutions promise improved operational efficiencies and enhanced clinical outcomes, leveraging features like mobile engagement, real-time navigation, and analytics.

Phunware (NASDAQ: PHUN) has announced the acquisition of Lyte Technology for up to $10.32 million, combining cash and stock. The deal includes $3.32 million in cash at closing, with $7 million contingent on performance within a year. This acquisition aims to enhance Phunware's blockchain initiatives, offering a strategic distribution network and generating revenue. Founded two years ago, Lyte Technology specializes in high-end computer systems for gaming and cryptocurrency markets. Integration is expected to be completed in 30-45 days, relocating Lyte's operations to Austin, Texas.

Phunware, Inc. (NASDAQ: PHUN) has announced the appointment of Ryan Costello and Rahul Mewawalla to its Board of Directors, effective October 1, 2021. Costello brings experience from his tenure in Congress, focusing on digital commerce, while Mewawalla's extensive background in technology leadership is expected to enhance the company's strategic direction. These additions are anticipated to strengthen Phunware’s advocacy and healthcare verticals and support its blockchain-enabled initiatives. This change comes as Lori Tauber Marcus steps down to pursue other opportunities.