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Dec 31, 2022
Phunware Q4 2022 Earnings Report
Phunware's financial performance reflected a year of growth and strategic shifts.
Key Takeaways
Phunware reported full year 2022 financial results, with a significant increase in total revenue driven by hardware sales, alongside a net loss. The company is focusing on expanding its MaaS offering and hardware business.
Total revenue increased by 104.8% year-over-year, driven by hardware revenue growth.
Hardware revenue constituted 70.1% of total revenue.
Net loss was $(50.9) million, and net loss per share was $(0.51).
The company is focusing on ramping up its MaaS offering and expanding its hardware business.
Phunware
Phunware
Forward Guidance
Phunware anticipates growth in 2023 driven by channel partners and is focused on expanding its MaaS offering and hardware business.
Positive Outlook
- Increased interest from channel partners expected to accelerate bookings.
- Focus on ramping up MaaS offering through hospitality and healthcare verticals.
- Plans to further expand the hardware business.
- Belief that products increase customer satisfaction and provide a strong ROI for clients.
- Expansion into industry segments where products increase customer satisfaction.
Challenges Ahead
- Forward-looking statements involve risks and uncertainties.
- Actual results may differ materially from those projected.
- Factors described under "Risk Factors" in SEC filings may affect results.
- Forward-looking statements are not guarantees of future performance.
- Results may not be indicative of results in subsequent periods.