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Mar 31, 2024
Phunware Q1 2024 Earnings Report
Phunware's Q1 2024 financial results showed significant improvements, with increased gross margins and a reduced net loss.
Key Takeaways
Phunware reported a net revenue of $0.9 million for Q1 2024. The company significantly improved its gross margin to 56.9% and reduced its net loss to $(2.3) million. Phunware also eliminated its $5.0 million debt and settled an existing lawsuit.
Net revenues totaled $0.9 million, exceeding internal Q1 2024 plan by 5%.
Gross margin increased to 56.9% from 5.4% in Q1 2023.
Net loss decreased to $(2.3) million from $(4.3) million in Q1 2023.
The company eliminated its remaining debt of $5.0 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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