# Phunware, Inc. (PHUN)

> Source: Nexqual · https://nexqual.com/PHUN · data as of 2026-10-23 20:00 UTC · cite as "Nexqual, Phunware, Inc. (PHUN), nexqual.com/PHUN" · informational, not investment advice.

**Price:** USD 1.95 (-0.51% on the day) · last close of Oct 23, 2026; US market closed, not a live price. Prev close 1.96 · day 1.94–1.98 · 52w 1.56–2.84 · market cap $39.9M · NCM

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $2.8M, net income -$13.0M (-471.7% margin) (SEC filings).
- Analysts: None.
- Total return with dividends: 1Y -29.4% vs S&P 500 +13.4%; 5Y -99.1% vs S&P 500 +76.9%.
- Next earnings: 2026-11-05, EPS estimate USD —, revenue estimate $0K.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $10.6M | $6.5M | $4.8M | $3.2M | $2.6M | $2.8M |
| Gross profit | $3.6M | $3.5M | $1.7M | $1.5M | $1.3M | — |
| Operating income | -$16.8M | -$24.0M | -$45.7M | -$13.9M | -$20.5M | -$21.5M |
| Net income | -$53.5M | -$50.9M | -$52.8M | -$10.3M | -$11.4M | -$13.0M |
| EPS (diluted) | -$35.50 | -$25.50 | — | -$0.94 | -$0.57 | — |
| Free cash flow | -$22.5M | -$27.8M | -$18.4M | — | — | — |
| Gross margin | 33.9% | 53.8% | 34.9% | 45.6% | 50.6% | — |
| Operating margin | -158.3% | -368.5% | -945.6% | -435.5% | -803.7% | -782.1% |
| Net margin | -502.9% | -780.5% | -1092.4% | -323.5% | -446.6% | -471.7% |
| Revenue growth | +6.4% | -38.7% | -25.9% | -34.0% | -19.9% | — |
| Cash + short-term investments | $23.1M | $2.0M | $3.9M | $113M | $101M | — |
| Total debt | $5.2M | — | — | — | — | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 14.5x · P/B 0.5x · Earnings yield -32.52%

## Analysts
Consensus None.

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-24) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | -29.4% | -99.1% |
| S&P 500 (SPY) | +13.4% | +76.9% |
| Per year | -29.4% | -61.0% |
| Volatility (annualized) | 46.1% | 99.6% |
| Max drawdown | -42.6% (Oct 2025→Feb 2026) | -99.2% (Oct 2021→Mar 2026) |

## Peers (Software - Application)
NICE (NICE Ltd) USD 121.18 +3.44% · APPF (AppFolio, Inc.) USD 210.62 -3.09% · DSGX (The Descartes Systems Group Inc) USD 93.96 -0.04% · TTAN (ServiceTitan, Inc.) USD 87.06 +2.18% · IDCC (InterDigital, Inc.) USD 327.28 -1.44% · YMM (Full Truck Alliance Co. Ltd.) USD 8.29 -0.72%

## More
Full page: https://nexqual.com/PHUN · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in PHUN's own 10-K filed 2026-03-27 (https://www.sec.gov/Archives/edgar/data/1665300/000119312526126850/phun-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | Canaccord Genuity | "On June 4, 2024, we entered into an Equity Distribution Agreement with Canaccord Genuity LLC ("Canaccord"), as representative of certain agents, pursuant to which we could offer and sell, from time to time, shares of our…" |

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY | Operating income | Op. margin |
|---|---|---|---|---|---|
| Software Subscriptions & Serices | $747,000 | 93.5% | +72.5% | -$1.9M | -251.4% |
| Advertising | $52,000 | 6.5% | +136.4% | -$47,000 | -90.4% |
| Total revenue | $799,000 | 100% | — | -$6.0M | -757.1% |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Software Subscriptions & Services | $747,000 | 93.5% | +72.5% |
| Advertising | $52,000 | 6.5% | +136.4% |
| Total revenue | $799,000 | 100% | — |

## Revenue by region (fiscal year ended 2025-12-31)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| United States | $2.5M | 98.2% | -20.9% |
| Non Us | $45,000 | 1.8% | +150.0% |
| Total revenue | $2.6M | 100% | — |

## Customer concentration

Period ended 2026-06-30: 31%, 13%, 6% of revenue from unnamed direct customers (10-Q, filed 2026-08-10).

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter | — | — | — | $0 | — |
| Next quarter (ends 2026-09-30) | — | — | — | $0 | — |
| Current fiscal year (ends 2026-12-31) | — | — | — | $0 | — |
| Next fiscal year | — | — | — | $0 | — |