Phunware Inc Stock Price, News & Analysis

Phunware, Inc. (NASDAQ: PHUN) has issued a letter to stockholders from CEO Mike Snavely, providing an update on the company's performance and future plans. Key highlights include:

• Increased sales by two orders of magnitude in H1 2024 compared to H1 2023
• Lowered cash burn by more than half
• 939% growth in bookings for H1 2024 compared to H1 2023
• Announcement of a new generative AI-based platform for rapid mobile app development
• Plans to expand digital advertising capabilities and voter/advocacy engagement business
• Zero debt and adequate resources to support investments and growth

The company aims to launch its new AI-powered SaaS platform by mid-2025, targeting the global mobile app market expected to exceed $420 billion by 2028.

Phunware, a leader in enterprise cloud solutions for mobile applications, has announced its participation in the Webull LIVE! with Corporate Connect: Technology Investment Webinar. The event is scheduled for Wednesday, October 16, 2024, at 2pm ET.

During the webinar, Phunware CEO Mike Snavely will present an overview of the company and its strategic path forward. Following the presentation, there will be a Q&A session where investors can engage with the CEO directly.

This webinar provides an opportunity for investors to gain insights into Phunware's operations and future plans. Interested parties can register for the event through the provided webinar link.

Phunware, Inc. (NASDAQ: PHUN) will showcase its Conference Event Solution at IMEX America and the Global Gaming Expo (G2E) in Las Vegas, October 7-10, 2024. The mobile solution features intuitive wayfinding, increased sponsor ROI, and data-driven insights. Key features include:

• Turn-by-turn directions for complex venues
• Location-based notifications for sponsors
• Real-time data and analytics for organizers

Phunware's technology can integrate into existing event mobile apps or management platforms. The company is scheduling demos for attendees at both trade shows, highlighting how their solution can elevate events and gaming environments.

Phunware (NASDAQ: PHUN), a mobile experience platform, announces CEO Michael Snavely's participation in the H.C. Wainwright 26th Annual Global Investment Conference. The event is scheduled for September 9-11, 2024 at the Lotte New York Palace Hotel. Snavely will present a corporate overview on September 9, 2024, available on-demand from 7:00 am ET.

Investors can register for the conference at https://hcwevents.com/annualconference/ to access the presentation. Additionally, CEO Snavely and CFO Troy Reisner will be available for one-on-one meetings with registered conference investors, providing an opportunity for direct engagement with Phunware's leadership.

Phunware (NASDAQ: PHUN) reported strong Q2 2024 financial results, showcasing significant growth in software bookings. Key highlights include:

• 623% increase in Q2 software bookings compared to Q2 2023
• 10% revenue increase to $1.0 million in Q2 2024 vs Q1 2024
• 49% reduction in total operating expenses to $3.4 million
• 60% decrease in net loss to $2.6 million
• $20.4 million cash on hand as of June 30, 2024

The company secured early renewals with three major customers and appointed Paul Ruffino as a strategic advisor for hospitality sector growth. Phunware was also added to the FTSE Russell Microcap Index. CEO Mike Snavely emphasized the effectiveness of their revamped sales team and evolving sales model in driving growth and reducing sales cycle length.

Phunware (NASDAQ: PHUN), a mobile experience platform, has announced its second quarter 2024 financial results will be released on Thursday, August 8, 2024, after U.S. financial markets close. The company will host a live conference call at 4:30 p.m. ET to discuss the results, followed by a Q&A session. Interested parties can join the call by dialing 1-800-715-9871 (domestic) or 646-307-1963 (international) using Conference ID 4402319. A live webcast will also be available, with a replay accessible until February 14, 2025. A telephonic replay will be available until August 22, 2024, by dialing 1-877-481-4010 (or 919-882-2331 for international callers) with replay access code 50975.

Phunware (NASDAQ: PHUN), a mobile experience platform, announced its addition to the FTSE Russell Microcap Index following the 2024 FTSE Russell annual index reconstitution. This change took effect after market close on June 28, 2024. CEO Mike Snavely expressed that rejoining the index marks a validation of Phunware's efforts to return to a growth trajectory. The annual reconstitution captures the 4,000 largest US stocks, ranked by market capitalization. FTSE Russell indexes are widely used as benchmarks for approximately $10.5 trillion in assets as of December 2023.

Phunware (NASDAQ: PHUN) will attend the Hospitality Industry Technology Exposition and Conference (HITEC) from June 24-27 in Charlotte. The company will showcase its leading hospitality mobile solutions aimed at enhancing guest engagement through personalized mobile experiences. Phunware's technology includes features like digital keys, push messaging, and wayfinding, designed to improve the guest experience from pre-arrival to post-departure. CEO Mike Snavely highlights that their solutions help hospitality customers generate significant ancillary revenue and high app store ratings. Booth #3955 at the Charlotte Convention Center will feature live demonstrations and on-site meetings.

Phunware announced a prospectus supplement to its existing shelf registration with the SEC, allowing it to offer and sell up to $120 million in common stock through an 'at-the-market' (ATM) equity offering program. No additional capacity was added to the registration statement, and Canaccord Genuity will act as the representative sales agent. Sales will be made at market or negotiated prices, depending on market conditions and the company's capital needs. The prospectus supplement updates information in the existing prospectus. Investors can find more information and obtain copies of pertinent documents on the SEC's website.