Phunware Q3 2020 Earnings Report
Key Takeaways
Phunware's Q3 2020 financial results showed a 40% sequential increase in Net Revenues to $3.13 million and an expanded gross margin exceeding 71%. The company also reduced Adjusted EBITDA loss by nearly 30% sequentially.
Net Revenues for the quarter totaled $3.13 million.
Multiscreen-as-a-Service (MaaS) Platform Subscriptions and Services Revenues were $2.86 million.
Gross Margin was 71.3%.
Net Loss was ($8.57) million, inclusive of a one-time ($4.50) million extraordinary expense for legal settlements.
Phunware
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Forward Guidance
Phunware has established solid operating momentum for entering 2021, positioning it to capitalize on the demand it’s seeing for its MaaS Smart Workplace solutions for corporations and its MaaS Digital Front Door solutions for healthcare organizations.