Phunware Q1 2022 Earnings Report
Key Takeaways
Phunware announced record financial results for Q1 2022, with revenue growth exceeding 310% year-over-year. The company is operating at the intersection of mobile, cloud, big data, and blockchain and is revising its Q2 revenue growth forecast upward to more than 275% year-over-year.
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 per Share was $(0.15).
Phunware
Phunware
Forward Guidance
Phunware expects 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. For Q2, upwardly revise top-line revenue growth forecast from up more than 250% year-over-year to up more than 275% year-over-year.