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Stock impact report

Phunware Announces Second Quarter 2019 Financial Results

Phunware, Inc. (PHUN) 
Company Research Source: Business Wire
Continued MaaS Subscription Revenue Growth Accompanies Improved Net Loss per Share AUSTIN, TX--(BUSINESS WIRE)--Phunware, Inc. (NASDAQ: PHUN) (the “Company”), a fully-integrated enterprise cloud platform for mobile that provides products, solutions, data and services for brands worldwide, today announced financial results for its second quarter ended June 30, 2019, and provided an update on recent business developments.Second Quarter 2019 Financial HighlightsNet revenues totaled $5.5 millionPlatform subscriptions and services revenue totaled $5.1 million, or 92% of net revenuesMultiple consecutive quarters of platform subscription and services revenue growthGross margin was 50.6%, compared to 78.4% for the same period in the prior yearNon-GAAP gross margin was 51.2%, compared to 47.2% a year agoNet loss was ($3.1) million. Net loss per share was ($0.08), an improvement of 34% quarter-over-quarter sequentiallyNon-GAAP adjusted EBITDA loss was ($2.4) million, a $1.2 million improveme Show less Read more
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