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Dec 31, 2024
Phunware Q4 2024 Earnings Report
Phunware reported its full year 2024 financial results, highlighting significant growth in bookings and a strengthened balance sheet.
Key Takeaways
Phunware reported a net loss from continuing operations of $10.3 million for the full year 2024, a significant improvement from the $41.9 million loss in the previous year. The company's cash and cash equivalents increased substantially to $113.0 million, up from $3.9 million in 2023, and software and subscription bookings increased by 232% over the prior year.
Net loss from continuing operations improved to $10.3 million for FY 2024, compared to $41.9 million in FY 2023.
Adjusted EBITDA loss improved to $10.3 million for FY 2024, compared to $15.5 million in FY 2023.
Cash and cash equivalents significantly increased to $113.0 million as of December 31, 2024, from $3.9 million as of December 31, 2023.
Software and subscription bookings increased by 232% over the prior year for FY 2024.
Phunware
Phunware
Phunware Revenue by Segment
Revenue by Segment
Mobile Software Subscriptions and Services Revenue
CapyFin.comAdvertising Services Revenue
CapyFin.com Forward Guidance
Phunware plans to introduce new features and functionalities to its existing products, including AI-related features, and expects to launch an AI Personal Concierge and a new AI-driven software development platform in mid-2025. The company is also moving forward with the acquisition of an interest in MyCanvass, LLC.
Positive Outlook
- Planning new features and functionalities for existing products, including AI-related features.
- Expected launch of AI Personal Concierge in mid-2025.
- Expected launch of new AI-driven software development platform in mid-2025.
- Moving forward with plans to acquire an interest in MyCanvass, LLC, a SaaS platform command center.
- Believes strong reputation and new initiatives will build sales and value for stockholders.
Challenges Ahead
- No specific negative forward guidance was provided in the report.
- No specific negative forward guidance was provided in the report.
- No specific negative forward guidance was provided in the report.
- No specific negative forward guidance was provided in the report.
- No specific negative forward guidance was provided in the report.
Revenue & Expenses
Visualization of income flow from segment revenue to net income