- Provides a fully-integrated enterprise cloud platform for mobile
- Multiscreen-as-a-Service platform offering includes software development kits (SDKs), vertical solutions, a mobile application framework and data products
- Also operates PhunCoin and Phun, a blockchain-enabled dual token economy that allows users to monetize their digital identity
What Phunware does:
The company’s Multiscreen-as-a-Service (MaaS) offerings, including engagement, management and monetization initiatives that helps the world’s most respected brands create category-defining mobile experiences.
The Austin, Texas-based company also operates PhunCoin and Phun, cryptocurrencies that let users monetize their digital identity.
Phunware's Software Development Kits (SDKs) include location-based services, mobile engagement, content management, messaging, advertising, loyalty and rewards (PhunCoin and Phun), and analytics, as well as a mobile application framework of pre-integrated iOS and Android software modules for building in-house or channel-based mobile application and vertical solutions.
Since inception, Phunware has created more than 2.5 billion Phunware IDs representing mobile devices connected to networks. Phunware’s Knowledge Graph uses machine learning and proprietary algorithms to curate over five terabytes of data every day from approximately one billion of these active devices each month. Phunware’s data offerings enables brands to more accurately reach their target consumers.
How is it doing:
In mid-2019, Phunware extended its MaaS platform capabilities to allow customers to create unique audiences for real-time targeting and one-to-one interactions.
A few weeks after, Phunware released a new version of its blockchain-enabled data exchange capabilities which will allow political and advocacy groups to reach targeted audiences in congressional districts across America and meet campaign objectives effectively. The company said Phunware customers that work with political and advocacy groups are already leveraging the new capabilities for media campaign activities, including VoteMAP.
In the same month, Phunware also unveiled a partnership with Comport Healthcare Solutions, an award-winning information technology partner experienced in mobile application consolidation for hospitals and their supporting infrastructure and security. Phunware’s MaaS platform paired with Comport’s deep patient engagement and Electronic Health Records (EHR) expertise will provide hospitals a connected mobile healthcare platform aimed at increasing patient satisfaction.
And at the start of September, the company announced that it will be implementing its MaaS platform at Buffalo Heights, a mixed use residential and commercial development in downtown Houston. The company said it will license a community website and a portfolio of mobile applications for residents, tenants, shoppers and property managers. The arrangement represents a partnership between Phunware and Midway, a real estate firm, and MKT Consulting, a building system design firm.
READ: Phunware to bring software offerings to Houston residential and commercial development Buffalo Heights
Looking at its financials, in August, Phunware reported net revenues totaling $5.5 million for the second quarter which ended June 30, 2019. Of that total, it said platform subscriptions and services revenue totaled $5.1 million, or 92% of net revenues.
The group’s gross margin was 50.6%, compared to 78.4% for the same period in the prior year, with non-GAAP gross margin at 51.2%, compared to 47.2% a year ago.
Its net loss for the second quarter was $3.1 million, or $0.08 per share, an improvement of 34% quarter-over-quarter sequentially, with a non-GAAP adjusted EBITDA loss was of $2.4 million, a $1.2 million improvement year-over-year.
READ: Phunware’s new blockchain-enabled data exchange capabilities allow political and advocacy groups to reach targeted audiences
Phunware was added to the FTSE Russell Microcap index on July 1 at the conclusion of FTSE Russell’s annual index reconstitution, having joined the FTSE Russell 2000 and Russell 3000 Indices at the end of June. On August 1, Phunware was added to the LD Micro Index at the conclusion of its annual reconstitution. The index is designed to give the most accurate representation of the intraday activity of microcap stocks in North America. The index is a market cap weighted and comprises of 984 stocks in the US and Canada.
What the boss says:
Commenting in August’s earnings statement, Alan S. Knitowski, CEO and Co-Founder of Phunware said: "Our SaaS, data and blockchain offerings for mobile uniquely position us to deliver true digital transformation for our customers, enabling 1:1 real-time interactions between consumers and brands in both the virtual and physical world alike.”
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