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Dec 31, 2019
Phunware Q4 2019 Earnings Report
Announced financial results for the fiscal year ended December 31, 2019 and provided an update on recent business developments.
Key Takeaways
Phunware reported full year 2019 financial results, including a shift from one-time revenue to recurring platform subscriptions. The company also announced a $3 million structured debt financing and a furlough of 37 employees in response to COVID-19.
Net revenues for the year totaled $19.2 million.
Platform subscriptions and services revenue were $17.2 million.
Gross margin was 52.9%.
Net loss was ($12.9) million.
Phunware
Phunware
Forward Guidance
The company is focused on existing customer contracts and new business opportunities related to mobile, cloud, big data, and remote expertise, particularly in telehealth, political advocacy, remote work optimization, and smart cities.