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Dec 31, 2020
Phunware Q4 2020 Earnings Report
Phunware's financial results for the full year ended December 31, 2020 were reported.
Key Takeaways
Phunware reported full year 2020 financial results, with net revenues totaling $10.0 million and a net loss of $22.2 million.
Net Revenues for the year totaled $10.0 million.
Multiscreen-as-a-Service (MaaS) Platform Subscriptions and Services Revenues were $9.1 million.
Gross Margin was 66.4%.
Net Loss was ($22.2) million.
Phunware
Phunware
Forward Guidance
Phunware is transitioning to a SaaS licensing business and expects growth through direct customers, indirect sales, channel partners, and the launch of its blockchain ecosystem.
Positive Outlook
- Shift to a stickier, more scalable, recurring and high margin SaaS licensing business.
- Continued enterprise interest in MaaS Digital Front Door and MaaS Smart Workplace solutions.
- Resumed conversations with customers from the hospitality and real estate verticals.
- Expansion of go-to-market strategy with indirect sales and channel partners.
- Completion of PhunWallet and launch of blockchain ecosystem powered by PhunCoin and PhunToken.
Challenges Ahead
- No specific financial guidance provided.
- Reliance on growth initiatives that may not materialize as expected.
- Potential delays in the commercialization, scaling, and monetization of the blockchain business.
- Risks associated with the adoption of blockchain-enabled MaaS Customer Data Platform and MaaS Mobile Loyalty Ecosystem.
- Uncertainties related to the impact of the pandemic on customer sectors.