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Phunware, Inc. (PHUN) SEC Filing 10-Q Quarterly Report for the period ending Thursday, March 31, 2022

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PHUN Quarterly Reports

Phunware, Inc.

CIK: 1665300 Ticker: PHUN

Phunware Reports Record First Quarter 2022 Financial Results

AUSTIN, Texas, May 12, 2022 –
Phunware, Inc. (NASDAQ: PHUN) (“Phunware” or the “Company”), a fully-integrated enterprise cloud platform for mobile that provides products, solutions, data and services for brands worldwide, today announced record financial results for the quarter ended March 31, 2022.

“After previously guiding investors to top-line revenue growth exceeding 250% year-over-year for Q1, we are thrilled to have significantly outperformed that target with a new first quarter record for reported revenues as a public company, delivering actual revenues exceeding 310% growth to start the fiscal year,” said Alan S. Knitowski, President, CEO and Co-Founder of Phunware. “We are now operating effectively at the intersection of mobile, cloud, big data and blockchain across all lines of business and continue to activate our MaaS Loyalty and Rewards ecosystem through PhunWallet, PhunToken and PhunCoin, to commercialize a truly decentralized global data economy. For Q2, we are pleased to upwardly revise our top-line revenue growth forecast from up more than 250% year-over-year to up more than 275% year-over-year, which would represent another new second quarter record for reported revenues as a public company.”

First Quarter 2022 Financial Results
Net Revenues for the quarter totaled $6.8 million
Multiscreen-as-a-Service (MaaS) Platform Revenues were $2.5 million
Hardware Revenues were $4.3 million
Net Loss was $(14.9) million
Net Loss per Share was $(0.15)
Non-GAAP Adjusted EBITDA Loss was $(4.2) million

“We continued to build on the momentum from Q4 2021 by posting our largest revenue quarter as a public company,” said Matt Aune, CFO of Phunware. “In addition to the progress made with top line growth, we continued to invest in the business to further bolster our product offerings and expand the reach of our digital asset ecosystem. To that end, we were thrilled to not only see PhunToken become available on the decentralized exchange Uniswap, but also to provide additional resources to support decentralized finance through our new PhunToken website. Rolling forward, we expect to close the second quarter strong sequentially, activate PhunCoin for trading and continue to deliver dramatic year-over-year growth for the remainder of the fiscal year.”

Click here to learn more about PhunToken and click here to learn more about PhunCoin.

Recent Business Highlights

Notable Corporate Developments:
PhunToken Now Available on Uniswap
Appointed Christopher Olive as Executive Vice President, General Counsel and Chief Legal Officer
Appointed Matt Lull as Executive Vice President & Chief Cryptocurrency Officer
Engaged Moneta Advisory Partners

Notable Customer and Partner Wins:
Partnered with Accion Labs to Provide Mobile Solutions for Digital Transformation


The following information was filed by Phunware, Inc. (PHUN) on Thursday, May 12, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Phunware, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2022 10-K Annual Report includes:

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Inside Phunware, Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Changes In Stockholders' Equity (Deficit)
Condensed Consolidated Statements Of Operations And Comprehensive Loss
Business Combination
Business Combination (Tables)
Business Combination - Narrative (Details)
Business Combination - Unaudited Pro Forma Financial Information (Details)
Commitments And Contingencies
Debt
Debt (Tables)
Debt - Narrative (Details)
Debt - Summary Of Interest Expense (Details)
Inventory
Inventory (Details)
Inventory (Tables)
Leases
Leases (Tables)
Leases - Future Minimum Annual Lease Obligations (Details)
Leases - Narrative (Details)
Revenue
Revenue (Tables)
Revenue - Deferred Revenue (Details)
Revenue - Disaggregation Of Revenue (Details)
Revenue - Narrative (Details)
Revenue - Schedule Of Concentration Risk (Details)
Segment And Geographic Information
Segment And Geographic Information (Tables)
Segment And Geographic Information - Narrative (Details)
Segment And Geographic Information - Select Information Of Company's Segments (Details)
Stock-Based Compensation
Stock-Based Compensation (Tables)
Stock-Based Compensation - Condensed Income Statement (Details)
Stock-Based Compensation - Narrative (Details)
Stock-Based Compensation - Restricted Stock Unit Activity (Details)
Stock-Based Compensation - Stock Option Activity (Details)
Stockholders' Equity
Stockholders' Equity (Tables)
Stockholders' Equity - Narrative (Details)
Stockholders' Equity - Warrants (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies - Concentration Risk (Details)
Summary Of Significant Accounting Policies - Financial Instruments Measured At Fair Value (Details)
Summary Of Significant Accounting Policies - Narrative (Details)
Summary Of Significant Accounting Policies - Schedule Of Antidilutive Securities Excluded From Computation Of Earnings Per Share (Details)
Summary Of Significant Accounting Policies - Schedule Of Digital Assets (Details)
Summary Of Significant Accounting Policies - Summary Of Calculated Aggregate Fair Values And Assumptions (Details)
The Company And Basis Of Presentation
The Company And Basis Of Presentation (Tables)
The Company And Basis Of Presentation - Narrative (Details)
The Company And Basis Of Presentation - Schedule Of Revised Financial Statements (Details)

Material Contracts, Statements, Certifications & more

Phunware, Inc. provided additional information to their SEC Filing as exhibits

Ticker: PHUN
CIK: 1665300
Form Type: 10-Q Quarterly Report
Accession Number: 0001628280-22-014526
Submitted to the SEC: Mon May 16 2022 4:52:59 PM EST
Accepted by the SEC: Mon May 16 2022
Period: Thursday, March 31, 2022
Industry: Computer Processing And Data Preparation

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